Today has been a rough day, even my attempts at writing have failed. I started three different posts, and they were just not working, so I thought to share something from a writer I greatly admire. Leo Babauta’s blog is one of my favourite blogs, and it actually inspired me to start this 30 day writing challenge in a bid to “sharpen my sword”, and…
Read MoreOver the weekend I asked why house sharing isn’t popular in Nairobi, and from the responses I got on the post both on the blog and on Twitter, it seems the barrier in Kenya (and Africa) is more cultural than rational. There’s the feeling that house sharing robs the home of the “sovereignty” . House sharing is also viewed as a stop-gap measure, and as…
Read MoreHave you ever applied for a loan or a credit card from a bank? How much information about the loan itself were you able to obtain from the loan officer / bank employee before actually applying for the loan? Don’t you wish there was a website that could compare loans offered by different banks? I have applied for loans several times, and one of the…
Read MoreToday’s wisdom is from the Guru, Warren Buffet as shared to his shareholders: Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy, and only greedy when others are fearful. Letter to shareholders 2004.
Read MoreThe unexamined life is not worth living – Socrates After working for a couple of years, it is easy to get into the routine popularly called the “rat race”, where you get paid, spend the money, eagerly wait for the next paycheck which you eagerly spend, and the cycle continues. With time, it gets so automatic that you hardly spend time evaluating your priorities to…
Read MoreThis is a guest post by Samuel Marete. His day job is in finance, and one of the most conscientious people I have interacted with, and it shows in the level of detail displayed below . He blogs here, and he is @chrenyan on Twitter. Choosing a Personal Expense Tracker If you’re like me, you tend to do a lot of research before you jump…
Read MoreDespite debates to the contrary, I am a big believer in setting aside some funds (at least 3 months living expenses) for emergency use. For employed folk, you may be out of work and this fund cushions you as you look for alternative sources of income. For people in business, an emergency fund is even more critical because business income is unpredictable. Most opponents of…
Read MoreWe will continue our discussion on housing and mortgages as promised, but I would like to close on this series of posts sponsored by Barclays Kenya by giving a bit more detail on their fixed rate mortgage product. Definition A fixed rate mortgage is a mortgage where the interest rate is guaranteed to remain at an agreed upon level for a set period of time,…
Read MoreIn the last post, we looked at the math behind renting and taking a mortgage, and ended with the note that until you pay off your mortgage you are either a money renter or a home renter, not a home owner. Today we evaluate the common arguments in favour of taking a mortgage. These posts are designed to educate you as you make your home ownership plan,…
Read MoreFor most people, owning a home is the ultimate financial goal. There are various credible reasons why people like to own houses. The most compelling for me is security for my family. If I died today, my child wouldn’t have a place to live (I live in a rented house), but if I bought or built a house, then at least they’re assured of a…
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