- Investing might not top your priorities when fresh out of college and into your first job. You’re probably planning for big purchases, a vacation, or even starting a family. But whatever your goal is, they all have something in common — a need for money. The surest way to achieve these goals is…
- Medical situations, delayed paychecks, and unforeseen needs might all cause you to take out short-term loans. Is getting into debt, however, the best option? Even though short-term loans can help you get out of financial difficulty, they can have a detrimental impact on your overall finances, so…
- Negotiating the price of a car is an essential skill that can save you money and give you peace of mind. By doing your research, being thorough in your preparation, and avoiding common negotiating mistakes, you can easily navigate the car-buying process and ensure that you're making an informed…
- Choosing the right car is an important decision that can significantly impact your daily life. You can find the one that best fits your lifestyle by considering your needs and preferences and the different types of vehicles available.
- Financial slip-ups happen all the time and to the best of us. Many Kenyans admit to having committed not just one or two but countless money mistakes, leading to deeper financial struggles.
- Personal loans are generally well understood and a common source of credit by Kenyans. But, did you know that credit cards can provide the same relief personal loans do plus a wide range of rewards and interest-free periods? If that is the case, when would a credit card or personal loan be the best…
- Returning home after college can be a wise decision for recent graduates to both save money and determine their future aspirations. However, it is essential to make the decision carefully, as this choice can either be a helpful stepping stone towards a promising future or a hindrance to achieving…
- No matter what stage of your career you are at, whether you are looking for a job or you have an internship, it is important to build relationships with these top seven people in your network.
- Raising children is not a walk in the park, any parent would attest to that. Managing a family's needs and wants with factors such as savings, pension, and budget can really be challenging. Family finances are a subject of trial and error for many parents.
- Maintaining a low debt-to-income ratio is essential in demonstrating your financial health to lenders. However, it's not the only factor that lenders consider. As a borrower, you must take steps to make smart borrowing decisions.
- College life often brings with it a sense of adventure and camaraderie. It is a time when friendships are forged and memories are made. But living on a tight budget at this juncture is often a reality. As students navigate the challenges of higher education, finding affordable accommodation becomes…
- It is the dream of the vast majority of Kenyan students to attend college or further their education past secondary school. It might be disheartening to realise this dream could be thwarted due to a lack of funds and an inability to afford educational expenses.
- When setting out to buy a car, most budget for obvious costs such as the actual price, a rough estimation of fuel costs, and insurance. The excitement of getting a new ride often comes in the way of an objective analysis of associated costs that may make owning a car a very expensive affair for the…
- The 50:30:20 rule can be a really great budgeting method for many. But specific circumstances will determine whether this method is the right one for you. Nevertheless, dividing your income into three distinct 'buckets' in order of priority can significantly aid your budgeting and ability to save…
- Money market funds are appropriate for investors with low-risk tolerance. As an investor, you should look for funds with a proven track record and a constant growth rate.
- Are you constantly feeling that you are struggling financially? Do your bills and expenses cause a shiver down your spine, because you are afraid your money will not be enough? Are you constantly sitting at the edge of your chair, crossing fingers that a huge financial emergency does not come to…
- Are you dreaming of financial abundance and success? Unlocking the path to wealth requires more than just financial know-how – it's about your mindset, habits, and preparedness for the journey ahead.
- A car is among the necessities for many Kenyans. It's an essential means of transport to work, business, and running errands. Before you can begin with savings, research the type of car that meets your needs and budget. Research also the available financing options to get the right one. And lastly…
- “Money Is A Terrible Master But An Excellent Servant - P.T. Barnum” With the above quote in mind, it helps to remember that the no-spend challenge is not set up to negatively disrupt your quality of life, rather it serves to have you be deliberate about your quality of life.
- It is certain that at some point you will retire. Whether you retire at 35 as some have, or at 60 as is the formal retirement age, the reduced ability to be as productive as you were earlier in life calls for an active plan to secure a blissful life post-work. And you can never be too late to get…
- Research has shown that money and happiness have a point of diminishing returns. In other words, after a certain point, more money does not necessarily lead to more happiness.
- Are you financially ready for the holidays? The festive season can be less festive if you don't have enough savings to spend. You can easily find yourself making avoidable mistakes with so much going on.
- A car is arguably the second-biggest expenditure after housing but before basics like food, education, and saving for retirement. This means that it's crucial to know and understand if this is the right time to make the purchase or not.
- The HEF (Higher Education Financing) portal is now accepting applications for scholarships, bursaries, and loans for students entering universities and TVET institutions in the upcoming academic year. Here is how to apply.
- The digital lending market is expected to undergo a major landscape shift after the Central Bank of Kenya (CBK) approved a free loan product that will see Kenyans access up to Ksh100,000 worth of products through Safaricom’s Lipa na Mpesa. There will be zero interest charged on credit purchases…
- Have you ever passed near a retail shop or visited an eCommerce site and seen a poster offering you the chance to buy products and pay in installments? The posters will often read, "Lipa pole pole," "Lipa baadaye," "Lipa mdogo mdogo," or "Buy now, pay later." These offers can be enticing, tempting…
- How long does it take to have a million while earning Ksh50,000? Sometimes, we overestimate what a million could mean for our lives. But similarly, we underestimate the work we need to put in to have a million shillings.
- A high income does not guarantee a high net worth. It is the combination of smart financial choices and discipline that ultimately leads to wealth accumulation. One of the common mistakes we make is not thinking about our current assets and how they affect our future net worth. By taking control of…
- At a time when economic uncertainty has almost become the new normal, it is more important than ever to be financially savvy and aware of what is going on in the financial world, especially in Kenya.
- Mind games are psychologically manipulative behaviours which are intended to unsettle another person to gain an advantage over them. These games are meant to obtain, maintain or acquire control over someone. These tactics can be used in personal relationships, work, or social situations. It is…
- Before the pandemic, many of us may have thought that a rainy day fund was just an extra expense we couldn’t afford. But as we’ve seen, the unexpected can happen at any time. Whether it’s a natural disaster, a medical emergency, or a job loss, having an emergency fund can provide a much-needed…
- Bearing in mind that cars cost a considerable amount of money is saving up slowly until you can afford one in cash a better option as compared to taking a car financing loan? When does taking a loan make more sense than saving up and buying in cash? This is not exactly an easy question to answer in…
- Flipping is a straightforward strategy; it involves buying products at a discount and selling them for a profit online. With this business model, you can turn bargain-hunting prowess into an income-generating venture.
- Your November take-home pay could be taking a 2.75% hit if regulations being finalised to operationalise the Social Health Insurance Act (SHIF), 2023, require an immediate shift from the current NHIF contribution structure. This follows the Thursday, November 23, gazettement of the commencement of…
- Are you struggling with your financial goals? Do you know how much time you spend stressing about your finances every month? Financial success does not just magically appear. You can only engineer it. It’s about developing systems or structures that tame undesirable behaviour in you and promote the…
- While you and everyone else would welcome the concept of investing without exposing yourself to any risks, the truth is it doesn’t exist. The best step to take is to prepare for these risks and have solid strategies to mitigate or avoid them entirely. This is even more crucial when investing in…
- After earning your trust, they ask if you can help them by sending the money - either directly to their phone or to one of the herdsmen. They promise to return the money when making the payment for your car. If the target sends the money, the con trick becomes successful, and the number is…
- Absa Kenya has raised the interest rate on its recently-launched Absa Digital Savings Account to 9% per annum up from 7% previously. This makes the account, which can be fully operated online, the savings account with the highest interest rate in Kenya among all savings accounts offered by…
- As we head into 2024, we should look into how the job market has been this year. By studying 2023, you can go into 2024 more informed and equipped to make the right career decisions.
- Christmas is one of the most expensive times of year for most Kenyans. With only a few months to the end of the year, there is no time like the present to start thinking about how you will save money during the holidays. December is the time we throw caution to the wind and spend like there is no…
- The weakened Kenyan shilling has discouraged investments that are denominated in the Kenyan shilling, which in turn results in reduced economic activity, unemployment, and a cycle of continued shilling depreciation. The depreciation of the shilling has also resulted in an increase in the prices of…
- On Tuesday, December 12, Kenya made a historic decision to become a visa-free country. Announced by President William Ruto during the country's 60th Independence Day celebration, starting January 2024, travellers into the country will no longer require a visa. How exactly will this be implemented?
- While growing up, I used to idolise the older people who would come home loaded during the December holidays. You would see them alight at my village bus stop carrying a heavy box. We all presumed it was shopping. They would briefly transverse the town centre, say hi to old friends, and head home.…
- Yesterday, Kenya was celebrating 60 years of being a republic. If Kenya were a civil servant, this would be its retirement year. However, since it is a republic, it is still a young democratic nation compared to other global democracies whose existence spans centuries.
- As the holiday season approaches, so does the inevitable gathering of family members, bringing with it a myriad of conversations, laughter, and, sometimes, uncomfortable questions. One question that can come up is, "How much do you make?"
- As the year ends, we see people celebrating themselves more and more. The typical messages are how they have overcome tough times. This is a testament to the harsh economic conditions we have all endured in 2023.To cope with the year, some people resorted to starting businesses. A few have grown…
- Budgeting is an important tool for managing your finances, and everyone needs it. It can serve as a guiding light to help you maintain financial stability, grow your savings, live within your means, and avoid debt. However, just like any well-intentioned plan, it's not uncommon for budgeting to hit…
- Traveling allows you to enjoy the beauty and scenery of mother nature and admire the ingenuity of human creations and engineering while meeting with different people and experiencing different ways of living, which ultimately expands how you perceive life. However, traveling during the holiday…
- For eight years in a row the American Psychological Association (APA) annual Stress in America survey has found that money is a leading stress trigger. This has been true even before the Covid-19 pandemic. Fear is the unpleasant feeling which is triggered by the perception of danger, real or…
- You have probably grown up being urged to be a hard worker. But you have also seen many successful people who 'do not seem to have worked so hard'. The big question is, what are they key ingredients for financial success? We take a deep dive into this and identify a possible recipe for success you…
