This is the first of a couple of posts I am writing for the next two weeks as useful reading for this period. Last week, I wrote a long, but great post about setting yourself up for success where money is concerned. You may read it here. Onto the post I am not a fan of willpower. Much has been written about how willpower often…
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 MoreMost of us tend to overspend on furniture, and in most cases end up regretting because it doesn’t last as long as it should. We’ve all heard (or experienced) horror stories where someone buys a fantastic looking table/bed/sofa, and within a year, they have to replace it because it’s broken or no longer works. As Team Frugality, we want to spend as little as is…
Read MoreAbout beating the market… Most books will claim that they can teach you how to beat the stock market, i.e how to invest in such a way that you will earn better returns than the general market. No one can teach you how to beat your market, and beating the market shouldn’t be your goal. Focus on maximizing the chances of achieving sustainable gains. About…
Read MoreOn this blog, I advice that as much as possible to avoid debt, but life is such that at one point or another, you will need to borrow, either to take care of an emergency or to make an investment. Used well, credit could be as much of a wealth building tool as picking the right stocks and investments. Internationally, there are ways to score…
Read MoreQuick: If I gave you Kshs 200,000 today, what would you do with it? Every so often, or at least once in a lifetime, we receive money we didn’t expect. It may be from a lottery winning (very rarely), your employer could feel generous and decide to reward you, or you could close a business deal and get more profits than anticipated. Windfalls may be…
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We are introducing a new section on the blog, Jargon Friday, to appear every Friday (rather obvious isn’ t it?). Jargon Friday aims to simplify some finance and tax terms, and make it easier for a non finance reader to understand our posts, and even more, manage their finances better. In this edition of Jargon Friday, we look at the term: Loan Interest. Definition: Interest is…
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