Last month as I reviewed my expenses, I realized that I spend a lot of money on food. I eat out may be four to five times a month which is not much, but I found that this expense combined with what I was spending in the house was higher than I would wish it to be. I was spending more on food than I…
Read MoreToday’s post is by Owuor Kuyoh, an investment analyst at a local investment bank. He loves to use numbers to tell a story but in this instance he decided to add some words to the numbers. I was about 15 years old, desperately saving to buy a new PlayStation2 when my father told me “Money doesn’t grow on trees! You have to put it to work,…
Read MoreToday we are talking about cars once more. In previous posts, I have discouraged taking a loan to buy a car because as we all know that a car is not an asset. It loses value as soon as you drive it and keeps losing value after that. However, a car is often a necessity and circumstances can force us to borrow to buy a…
Read MoreThis question arises when you have some extra income that you could use to increase your monthly debt repayments, or when you get lump sum income and are considering using it all to repay the loans you have. There are many schools of thought about debt; some people believe debt should be avoided totally. They believe that you should buy only what you can afford to…
Read MoreLet’s admit it. The process of building financial discipline is hard, exhausting, and takes more planning ability and hard work than most of us have. For these reasons we get paralyzed and end up not doing anything about our finances.. We choose to coast along and hope the situation sorts itself out at some point… We hope that one day we will earn enough money…
Read MoreWhen is the last time you scrutinized and totaled up what you pay in a month for M Pesa transfers, withdrawals, and M Pesa to bank? Usually I do not. When I receive my bank statement, I confirm that all the receipts and payments are in order, and that the fixed monthly fee is as expected. I have never paid M Pesa charges much attention…
Read MoreThis is a continuation of a series on how to holiday in Kenya and around the world for cheap. Read part 1 of the series. 1. Holiday with a partner or in a group: Accommodation and sometimes food is much cheaper when you are two. Instead of traveling alone, do it with a friend, lover, a travel partner or a relative. If you are the kind…
Read MoreIt is a well known fact that holidaying in Kenya is very expensive, and a holiday a year is out of reach for most people here. Nairobi is known for its expensive hotels, and most of the holiday offerings are for the very rich. In a city like Bangkok, you will pay Kshs 7,000 a night in a 4-star hotel, whose equivalent costs twice or…
Read MoreNo matter what finance experts say about the demerits of home ownership, most of us want to own a home either as an investment or to give ourselves and our families a sense of security. When considering a mortgage, should you go for a fixed rate or a flexible rate mortgage? This post looks at the advantages and disadvantages of each option. Fixed rate mortgages …
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