- If you start making the right decisions in January, you will likely reach your goals by the end of the year. But if you start making bad decisions in January, you might set yourself up for a rough year.
- A new year is here. As the motivation gurus put it, this is one year or year one. It is up to you to decide what this year will mean in your life. If you want the year to be significant, starting with a financial vision is a good idea. Whether you have ever made a vision board or have never, try it…
- Do you want to start investing, learn how to create a budget, acquire a property, pursue a degree without taking on debt, or retire early? Whatever your financial goal may be, personal finance Facebook pages offer you that.
- It is time to take stock of the year. As you review other facets of your life, it is paramount that you assess how you have been doing financially throughout the year. Doing a comprehensive review will help you plan better for the coming year.
- The famous personal finance book Rich Dad Poor Dad says that to be rich, you have to get to a place where your money makes money. You can make money while you are asleep. If you are a Sacco member and have been saving with the Sacco, you are on the right track to making your money work for you. …
- The government frequently enacts new legislation to address emerging challenges, promote financial stability, and adapt to changing circumstances. 2023 has been full of them, as various money-related laws have been passed, shaping the financial landscape in ways that impact individuals and…
- Financial abuse is a type of manipulation. It involves controlling another person usually as a way to improve one’s financial situation. A financial abuser according to Psychology Today can be anyone. They can be your partners, ex-partners, family members, or friends. Financial abuse is not limited…
- Holiday seasons come with their fair share of complexities, especially when you have to meet with friends and family that you have not been in touch with for a long time. The lack of interaction for a long time means that your lives have progressed in different directions, and the common ground you…
- A Sacco usually serves two functions: saving and credit. Many people join Saccos so they can access credit easily. Compared to traditional financial institutions such as banks, Saccos are member-friendly. They give out loans at simpler, friendlier conditions and lower interest.
- “You have been enjoying these services without paying, there is no more free lunch. You have to pay for it, we will introduce a fee for service for government service and private service to support our e-commerce because Huduma Centre will be the backbone for e-commerce," Kuria added.
- The government is planning to compel unemployed Kenyans to pay at least Ksh300 per month according to proposed regulations to operationalise the Social Health Insurance Act (SHIF), 2023. The Ministry of Health published the regulations despite a court order halting the Act's implementation issued…
- A new survey released by the Federation of Kenya Employers (FKE) revealed that employers are increasingly shifting base to candidates with Technical and Vocational Education and Training (TVET) certifications. The report titled Skills Needs Survey indicated that 34.9 per cent of businesses prefer…
- Kenyans could soon pay upto Ksh300 per litre of petrol in the next monthly price review, according to Energy Cabinet Secretary (CS) Davis Chirchir.Chirchir noted that the Israel-Palestinian conflict was likely to further destabilise international fuel prices which would have a ripple effect on the…
- The plant is located in Athi River, Machakos County and will see the affordable smartphones manufactured at East Africa Device Assembly Kenya Limited (EADAK), which is the fruit of a joint venture between local mobile network operators and international device manufacturers. It is expected to…
- Public Service Cabinet Secretary Moses Kuria has announced plans to require all new government employees to have undergone National Youth Service (NYS) training before they can be hired. The return of mandatory paramilitary training was also contained in proposals by the Presidential Working Party…
- On Monday, the government issued new guidelines to cut down on unnecessary expenditure necessitated by need to scale down and prioritise spending, focusing on critical operations and activities that are essential to service delivery to the citizen. Among the guidelines saw non-essential travel…
- “In the spirit of giving back to taxpayers, KRA is also calling on taxpayers to take advantage of the Tax Amnesty, introduced through the Finance Act 2023. The amnesty factors in all taxpayers with penalties and interests accrued as of December 31st 2022," the taxman announced in a statement…
- A report released on Wednesday, December 13 by research firm Trends and Insights Africa (TIFA) has revealed three items Kenyans are spending less on ahead of the festive season. In the report culminating from a survey in which 3,000 respondents were engaged from across 47 counties, food, transport…
- January is the month nicknamed Njaa-nuary because most people tend to be broke. However, people are not broke in January because of what they do in January, but rather what they did in the months before January, especially December.
- Christmas is that time of year when adults are given a chance to relax and spend time with their loved ones. For the children, it’s a time when memories are made. As is the custom a majority of Kenyans travel back to their upcountry homes to visit extended family and escape the rush and fast-paced…
- The question of how much one makes often lingers in daily financial discussions. But most people rarely get into the intricacies of it out of respect for personal boundaries or fear of getting grilled back. So they tiptoe around it, as full transparency may sow seeds of distrust, breed unease, or…
- Money habits have the potential to cast a gloomy cloud over our holiday gatherings. These festivities, intended to strengthen family bonds, can quickly transform into a platform for awkward discussions and strained relationships when money habits and attitudes get in the way.
- Money can be stressful during the holidays no matter your income level. However, if you earn significantly more than most of your relatives, you might feel it’s your responsibility to buy gifts or host gatherings. This sense of responsibility might contribute to you feeling financially stressed.…
- The holiday season comes with its fair share of shopping. With the indulgence in shopping, businesses take advantage and try to push their sales as much as they can. To boost their sales, businesses use marketing tricks to get you to buy more. However, the deals offered might not be good deals for…
- Amidst the festive cheer, it's crucial to acknowledge that every item on your list comes with a price tag. If not approached mindfully, overspending during the holidays can easily transform the season of merriment into a period of financial stress and post-holiday blues, leaving you entering…
- The festive season is upon us and this means it’s party time! It's time to get those fancy outfits aired for those late-night adventures. However, before the full party mode kicks in, one has to remember that once the sherehe season is over, you still have bills to pay and food to buy.
- The year 2023 has been a wild ride for fuel prices, with fluctuations that have left many car owners scratching their heads at the pump. The year commenced with petrol priced at Ksh177.3 per litre, and by November, it reached Ksh217.36 in Nairobi. Diesel started at Ksh162.0 and closed the year at…
- Painful lessons learned by Kenyans who took loans when they thought it was a good idea and how it turned out to be a bad idea. And now, many are struggling to extricate themselves from the 'accidental' path of financial ruin. That doesn't have to be you.
- No one is ever fully prepared to lose their job. But job loss, reductions, down-staffing, and summary dismissals happen every other day. Still, the words "we'll no longer need your services from today onwards" or "you're fired" may send some dark chills down your spine. And regardless of the…
- Raising financially savvy kids is every parent's dream. However, you can only succeed at it if you make an intentional effort to teach your children about money through practice and involving them in your finances. So ensure that you keep yourself financially educated for your own sake and the sake…
- Happy holidays everyone! It is December now so Christmas is coming soon! People have already been paid for November or they are going to be compensated soon. This is a period when everyone spends money. Be it by treating yourself or your kids to something special, buying gifts, traveling upcountry…
- It's that time of the year. You are constantly bombarded with new year resolutions and cliche quotes on the importance of planning. Failing to plan is planning to fail is one of those quotes. I can bet one of my kidneys that you'll come across it during this month of January 2023.
- In general, disagreements over money and finances are always cited as one of the leading causes of divorce. Yet, many people are blind to the financial warnings that manifest themselves right from the first date. Conversations regarding the subjects are often shelved and postponed for another date.
- Getting your first job after college might be challenging in general. But running a successful business is also not simple. The decision of whether to start your own business or look for a job will affect you for the rest of your life. Although it is not an easy decision, it does not have to be too…
- If you have lived in Nairobi for more than three months, you probably have been robbed or know someone who has fallen victim to the city’s marauding gangs. The situation has particularly become dire over the past month - attributed to the growing high cost of living and the challenges with the…
- Having money does not necessarily make you happy, but yet again not having any money or poor money management skills can make you very unhappy. It is time to take full control of your finances, do away with any stress you might have with money and take up new methods so that money becomes a force…
- How did your friends influence you this year? Did they help you achieve your financial goals, or were they the reason you fell short of your saving goals? It is impossible to treat your friendship and finances as oil and water. They are bound to mix at some point. Some friends may just have to go…
- Do you ever find yourself longing for financial control? The ability to balance your income and expenses, save money for the future, and steer clear of debt? It's a desire shared by many, and the key to achieving it is creating a well-structured budget.
- Other people’s money (OPM) refers to leveraging finances outside your pockets to increase your net worth. It refers to borrowed capital that is used to increase the potential returns.
- Receiving your first paycheck is a euphoric feeling and a gateway to independence for many people. However, to become financially prudent, it's essential to maximise the value of every shilling you make. Your early financial success is determined by how you spend and save.
- This has been a tough year for many people and even tougher on parents because of the challenging economy. With your kids depending on you and many financial obligations to attend to, your budget might be restricted. You might be forced to limit how you spend money, especially over the holidays.
- As the end of the year approaches, it’s essential to take time and review your spending habits. The reason for doing this is simple: get valuable insights to help set you up for a successful year ahead. And the best way to do that is to look at everything you did with your money in 2023 and ask…
- Building your net worth takes time and effort. You should ensure that you are always thinking long-term and doing enough research. But by following the right approach, you can get there. Always ensure you are accumulating the right asset, reducing your liabilities, and measuring your progress…
- American clinical psychologist, Sheila Forman, says that emotional spending helps many people feel better and that it is a long-standing coping mechanism. An emotional spender uses shopping- whether online, in person, or both- to soothe what ails them.
- Identity theft is a serious crime that can lead to huge financial losses for victims, as well as the risk of jail time in the case of criminal identity theft. It is therefore of utmost importance that you are aware of how identity theft happens, and what you can do to protect yourself from becoming…
- The interest earned on a daily basis is referred to as the daily yield, it is disclosed to the Capital Markets Authority (CMA) - which regulates all MMF fund managers in Kenya. The daily yield typically fluctuates depending on how well or poorly the fund managers are able to invest and grow the…
- This is the fifth article in a series of articles exploring the main places to keep your savings for maximum benefit according to the reasons you are saving for. We began by exploring the 7 main places to keep your savings, delved deeper into the usefulness of keeping savings in a current account…
- Buy a car in cash, and you're free from the potential hassles that come with car financing. It's a relief to not have to deal with car financing costs like processing and disbursement fees, monthly interest payments that can stretch for years, or the discomfort of co-owning your car with a lender…
- 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…
