- Over the last decade, mobile banking has become immensely popular, largely due to its convenience. I can’t recall the last time I set foot inside a banking hall, yet I routinely make transactions from my various bank accounts, all from the comfort of my couch. With this convenience, however, comes…
- One of the top financial goals you must have set for yourself by now is having a dependable source of income when you retire. And if you have embarked on that path, you must have realised it requires a lot of saving and investing, and for it to work out, you need to start early.
- Have you ever heard or read a motivational quote about something, and it sends you right into taking actionable steps? Positive money quotes can trigger something deep within that encourages and pushes you to do or start something regarding your finances.
- What would you do if, upon flinging open your front door one morning, you discover that a neighbour has marked your parked car's bonnet as the perfect drying spot for her running sneakers? I suppose you'd shrug it off - ask them to move them - and drive off to work.
- Over the last week President William Ruto was finally sworn into office and as such, most of the business news that made the headlines revolved around this new government. From new fertilizer prices that should be effected next week, to some new NHIF directives, to the latest fuel price review.
- Do you grapple with thousands of business opportunities and ideas, some of which do not make sense? Many people find it hard to find something that resonates with their passion or budget.
- When it comes to investing, there are a lot of things that can go wrong. And unfortunately, many beginners make investing mistakes that cost them a lot of money. If you're just getting started in the world of investing, it's essential to be aware of these potential pitfalls to avoid.
- Rent has been rising over the last few years. Like the many young professionals in cities like Nairobi, you must have considered having a roommate to share costs with and lower your housing budget.
- You are enjoying a night out with your friends, the wide-smiled waiter comes over with the bill and you quickly jump at the opportunity to settle it.‘I’ve got this you say,’ despite knowing that back home your token meter has been wailing like an ambulance siren for the last couple of days. But…
- All eyes are now firmly on President-elect, soon to be President William Ruto, with keen attention on what kind of presidency this will be. Kenyans and global observers are particularly interested in how the new president will go about breathing life into the local economy. This is where his action…
- You finally have saved up enough money to buy your first car. You consult with one or two of your friends and learn that by bypassing what they termed greedy brokers and importing the car for yourself straight from Japan, you could save as much as Ksh100K.
- What comes to mind when you hear the word "risk" in investing? Do you think about loss, uncertainty, or opportunity? If you associate risk with loss and uncertainties and are very cautious when investing, you probably have a low-risk tolerance. Your risk attitude can be described as averse to…
- As you accumulate assets and become more financially stable in your 30s, you'll find yourself in a considerable position that makes you suitable to acquire financial credit. You might have even taken out some loans in the past and paid them back. And now, your credit history makes moneylenders…
- You dread traveling upcountry for any kind of get-together. Be it a funeral, a wedding, or even Christmas. This is because ever since 30 knocked on your door, even that aunt who never gave you a moment's notice back in your early 20s is suddenly very interested in your social life.
- Financial assumptions are disastrous, and they are hard to catch. You can make them without even noticing you are doing it. And that is because most of these presumptions are typically common. They can be financial tricks passed down to you from parents, or you've seen them work for others around…
- His name is Cyprian Kiswili, but those who know him personally call him Kharsh. The trained illustrator cum footwear designer works for Enda, Kenya and Africa’s first running shoe company, under a designation he did not want to disclose because he says that making shoes is teamwork.
- I recently came across a question that is bound to ruffle some feathers – What is the point of having kids if your life ends when theirs begins? I will not pretend to be an expert in the field. I don’t have a little one or little ones running around calling me ‘daddy’ yet. However, I have close…
- “The best time to plant a tree was ten years ago; the second best time is now,” - Confucius. To paraphrase, the best time to start investing was ten years ago; the second best time is now.
- Along with the obvious benefits of being in a loving relationship, being a couple provides you with someone to rely on for assistance with life's responsibilities. It is vital that couples approach retirement planning differently than single people. Making retirement decisions with the same…
- It has been an eventful week, with the Supreme Court ruling confirming William Ruto as the valid President Elect sending a ripple in Kenya’s business world. Global economic projections are looking good the stock market recording the highest single-day jump over the last 4 years.
- There is a general perception that fraud victims are weak and gullible. Is this true beyond all reasonable doubt, or can research and science prove otherwise. Are there patterns that can be observed across multiple victims that could help explain why they fell victim to fraud, and if so, what…
- People, generally, have a tendency to live life and make decisions based on things they have learned over time. These tendencies have a direct impact on their general wellbeing where especially there are prejudices and biases towards certain ways of life including money matters.
- Your twenties are a period to develop your life's plan. You have officially reached adulthood! Moving past the innocence of youth and being faced with the responsibilities of adulting. You are taking off towards your future, full of vigour and ready to grab opportunities.
- Investing is essential for long-term wealth accumulation. However, simply investing is not enough; the right investment is essential. It may not look like it but the biggest mistakes you will ever make while investing are not really in the actual tactics, but in the mindset. We explore 10 of the…
- Many Kenyans would like to invest and watch their money grow. An investment can never succeed unless you have a game strategy and follow the rules. A typical investment rule is to set aside 30% of your overall earnings regularly to build a strong investment portfolio.
- All the investments you make and all the uncertain routes you take on your journey to achieve financial success involve some degree of risk. The risk level associated with each step usually correlates with the level of return you expect. The rationale behind this is simple; if you are willing to…
- Most people's financial transactions are now online. Banking and shopping involve more debit card swiping, attracting criminals and con artists who take advantage of small loopholes to steal your hard-earned money.
- Is a Sacco still a suitable investment vehicle in this age and era? Regardless of the changing face of savings and loan facilities, people still look for a client-friendly financial institution with easily accessible systems and processes.
- Superficially, Nairobi is a work of noir. The glam, the dazzle, and the bustle that goes on endlessly make it a haven for opportunity seekers. We are all here to stay and eke out a living. It is however the madness of mingling and relating that shows us another side of the city that lies low,…
- The term “ambulance chaser” is often used to paint the vivid image of a greedy, ruthless and heartless personal injury lawyer who follows the ambulance to the emergency room to solicit a patient who has been injured in a tragic event, such as a car accident.
- Everyone would like to get the same exact amount they paid for their car or even much more if they decide to sell their car. At the very least, everyone would want to get as closest as possible to the amount they purchased their car at.
- Like the good old jeans, t-shirts rarely go out of style. Forget about the boring t-shirts you see everyone wearing on the street. Custom-made t-shirts with a solid and exciting brand are the key to infiltrating this high-competition business.
- I’ve lived in the same three-floor apartment block for the last three years, on the outskirts of the city. It’s a quiet neighborhood, quite inexpensive - but, perhaps, a little too rural. It suits me just fine. A real estate firm handles rent and other tenant shenanigans, so I’ve never met the…
- It has been an eventful week as September begins. New motor vehicle number plates with a controversial compliance fee were launched as newly elected MPs laid out a fresh list of perk demands including pushing for a generous health insurance cover that has raised eyebrows.
- In a dream world, money would grow on trees, and purchasing big-ticket items would be affordable even if you just got employed. But that isn’t reality. You have to plan for big purchases or save for a while to ensure they fit in your budget. Otherwise, you’ll get into debt or bigger financial…
- Fear is necessarily not a bad thing. It's human to want to play safe and avoid uncertainties, especially where money is involved. But as you grow older, wiser, and learn more about the intricacies of money, you quickly realise that being cautious and avoiding risk isn't inherently safe.
- I recently came across an interesting question – Do you believe that if you finally get that lump sum amount of money you’ve been chasing over the years, your life will change forever/for the better?
- An increase in your salary is a cause for celebration, whether you took a higher-paying job or received a raise. It makes you feel like an important member of your company and helps to justify the work you do.
- Whatever action you take with your money, consciously or unconsciously, involves taking a risk. Even failing to take action is a risk in itself. There are those you can recover from and risks that can completely ruin your financial life. That's why you must prepare for market, longevity, credit,…
- As I crawl towards 40, I've spent a bit of thought on the phrase: Life begins at 40 - and what it really means. To me, it's just a theory. Well, I agree to some point - four decades worth of life experiences must point to some level of maturity. All the learning experiences, knowledge, success and…
- Financial Infidelity is the act of lying and being unfaithful about your finances to your spouse. It can take many forms. Hiding or lying about investments, incomes, debts, etc., are some of the most common ways it manifests itself.
- Your 30s will define the shape your finances take as you age. It's the decade to cement your foundation, take charge of your finances, and set yourself on a path to financial prosperity. Every step you make along the way has the potential to make or break your finances. This is why every move you…
- Many Kenyans are cautious with their money. Nonetheless, some people have lost money instantly due to transactions and dodgy dealings they didn't understand Whatever your situation, losing money quickly and suddenly is never fun. You could lose your entire earnings or savings and have to start…
- One of the most difficult things you have to deal with is navigating the emotional and mental roller coaster of any loss – and financial losses aren’t an exception. Financial loss such as a job loss, the sudden demise of the breadwinner, business closure, being conned, or even physically losing…
- Traditionally, the role of managing the family finances was mainly left to the man. But this is no longer the case. In modern society, women play a significant role in the family’s general financial health.
- Freelancing, if you ask me, is the subtle art of working your heart out all while being driven by passion, fierce dedication, and the inherent fear of dying poor. Mostly, it is the fear of dying poor.I fell in love with words in primary school. My grandmother introduced me to books and from that…
- While the economy seems to be recovering, bank loan defaults have crossed the half a trillion Shilling mark, auctioneers can't sell as much as they are repossessing, there is an imminent increase in fuel prices, sugar 18% more expensive, and HELB loan recovery efforts dealt blow in court - more in…
- Many small businesses in Kenya have one thing in common - they fail before they even start or stabilize. Statistics state that about 20% of small businesses fail within their first year. 30% of businesses fail before the end of the second year. By the end of the fifth year, around half of them will…
- The 30s have the potential to define the financial path you want to set for yourself. Most people experiment in their twenties and spend time learning and unlearning. There might be some failures and some wins. But when you cross to the third decade, you want to build on that experience and move…
- Unless you run broke, it’s very easy to look down on a broke person and question their decisions. From the outside looking in, the solution could be as simple as ‘why doesn’t he/she cut back on some spending?’
