The debt cycle in Kenya is a crisis. The reason is quite simple living beyond your own means. Financial experts advise that to be completely debt-free one ought to live below their means-your expenses should never exceed your income. Truth be told expensive is not always equal to quality. Sometimes goods are just over-priced to make them seem like superior quality.

•Budget and stick to it-To achieve financial success you must set a budget and stick to it. Identify needs and wants and allocate money to each accordingly. This will help you trim impulse purchases and unnecessary spending. When you track your spending, you might be surprised that you could be wasting a lot of your money on trivial stuff.

•Find an extra source of income-You have cut your spending but still not yet managed your basic needs. Perhaps it is time you get what many like to call a side hustle.The two incomes will complement each other, This might mean working at night or over the weekend.A side hustle could also mean running a business.

•Avoid lifestyle inflation-It is good to enjoy your money after all you worked hard for it. But ensure to draw the line between judicious spending and extravagance. For example as a single individual, why do you need a four-bedroom apartment? Why do you need to drive your fuel-guzzler t work while there are buses plying your route? Your income should be higher than your income.

•Shop in bulk-Shopping wholesale is always cheaper than buying items one by one.

Not only are wholesale products already discounted you get higher bargaining power when you shop in bulk.

•Save Before Spending-Rather than borrowing and paying back with interest fee, why not save for that expensive purchase you want to make? Ideally, let your savings be cut from the source. This means instead of your employer giving you the full amount to do the saving yourself, have an agreement to have the savings remitted directly to your savings account.

•Invest in yourself-read books on proper finance management, insurance, and asset acquisition. The more knowledge you have the more you will be able to make smart decisions.

By investing in yourself,you might learn a new skill that you might be able to monetize as well.