- Few Kenyans have the cash they need at hand to pay for big-ticket expenses upfront. As such, it is not unusual to see people looking for loan options, in order to be able to pay for these costly expenses over time. A logbook loan is one such option.
- Since March, Money254 has been making it easy for consumers and business owners to directly apply for financial products through our new Easy Apply process. To celebrate, Money254 is pleased to announce the launch of a Ksh2,000 reward offer for all successful logbook loan applicants who apply via…
- For many borrowers, the thinking behind loan charges can be a mystery. Why are interest rates different for different lenders? Who sets these rates? Why are some charges different for different borrowers? How does a lender decide what to charge for a specific type of loan?
- From failing to conduct sufficient research, not comparing available options to borrowing more than you need and failing to understand the terms and conditions of repayment, logbook loan mistakes can be very costly. This article equips you with the knowledge you need to keep the costs low when…
- Given the increasing cost of living, financial commitments might be hard to meet at one point in your financial journey. And sometimes, you might need a quick solution to help you meet an urgent monetary need like a medical emergency, a quick investment need, etc.
- Logbook loans can be a huge boost to your financial needs especially when you need a large amount urgently and have a regular income to make the repayments. With the risk of losing your vehicle being real, you want to make sure you have all the facts before signing up for a logbook loan.
- If you have been cash-strapped and in urgent need of a loan, you might have thought of putting your car on the line to get a loan. Logbook loans have risen in popularity over the years in Kenya with multiple lenders including banks and microfinance institutions offering this secured loan option.
- It is a fully digital account that can be opened in less than 10 minutes without having to visit a branch. It also allows customers to set up standing orders online and get free e-statements. There are no limitations on the initial deposit or subsequent top-ups. The interest accrues on a daily…
- Expanding its scope beyond the commercial realm, KRA has set its sights on landlords. On November 11th, the taxman carried out a sensitisation exercise in Nyayo estate in Nairobi to create awareness about rental income tax to landlords, and the KRA assistants undertook a data collection exercise on…
- The beginning of the year is the time for great optimism as you set goals you want to achieve. However, what happens when you have debt that you have carried from the holiday period?
- The government through the Kenya Copyright Board (KECOBO) and the Communications Authority of Kenya (CA) have partnered to launch a crackdown targeting Kenyans sharing copyrighted content through social media platforms such as Facebook, X, WhatsApp and Telegram.
- The pressure to succeed young can be overwhelming whether it’s achieving the best in exams or your career. Being young can sometimes feel like an impossibly hard position to be in, this ‘race of life’ can feel harsh and inescapable.
- 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.
- 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…
- 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.…
- 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…
