More Kenyans are moving to cheaper schools, rented houses and lower-cost products as economic pressures persist.
A survey by Old Mutual shows that 26 percent of respondents moved to lower-cost housing, while 21 percent opted for cheaper brands of goods.
Nineteen percent transferred their children to more affordable schools.
Eighteen percent of those surveyed switched to cheaper mobile phones or data plans, while 16 percent downgraded or canceled TV subscriptions.
Seventeen percent postponed major expenses.
Many households have also embraced strict budgeting, expense tracking and reduced spending on leisure activities.
The survey indicates a growing trend of cutting costs on insurance.
While 85 percent of respondents maintained their existing covers, five percent moved to cheaper car or household insurance, up from one percent in 2023.
Two percent canceled short-term or life insurance policies.
Financial struggles have also led more Kenyans to take on side hustles.
The survey found that 20 percent of respondents supplement their main income with additional work, a trend that remained stable from 2023.
However, 70 percent of respondents said they spend all their earnings each month.
Among women, 24 percent reported having no money left at the end of the month, compared to 19 percent of men.
Only 30 percent of respondents said they manage to save after expenses, while just 37 percent consider themselves financially secure enough to handle unexpected costs.
