How to Make the Most of Your Finances

Rayhab Gachango: “This piece keeps it relatable, with no financial jargon to get you scratching your head. The direct questions posed will force you to reconsider not just your apparent spending habits but potential motivations underlying your behaviour. The advice offered on how to curb your spending if you’re living beyond your means is practical and actionable.”

RG: “No experts here. This wonderful piece features interviews with Kenyans of varying backgrounds talking about using mobile loan apps and the struggles they faced. They tell us about getting caught up in debt because of punitive interest rates and lending policies. They tell us if they’re still using the mobile lending apps and why or why not. There’s something deep about hearing from regular people about their experiences and not just relying on experts sheltered in their glass towers. The article closes with practical tips to help you slowly but surely free yourself from any unending debt cycle.”

RG: “Hastily made financial decisions often end in tears. This piece offers numerous examples, from buying a car to playing a sport to shutting down a nuclear reactor, all guaranteed to get the point across. The piece closes with a comprehensive and useful list of reasons why people rush to make decisions to keep you alert.”

RG: “In some communities, there is an expectation that family members who have ‘good’ jobs or businesses should support the rest, especially younger siblings. This is called the ‘Black tax’ and it can put an unfair burden which is felt even more when one is going through a financial crisis of their own.’

Excerpt: “The ‘secret’ is the thing in personal finance that no one wants to talk about: it’s easy to save money when you have a high income. In all seriousness, you can talk about cutting expenses all you want, but it’s income that builds wealth. This is why the personal finance industry loves the “cut your lattes and get rich” style of advice. They love it because it opens a new door in a world where the other door (high income) is closed for most people.”

RG: “Saving for an emergency fund is alien for many people and can be daunting. The author here explains how to calculate your expenses and begin an emergency fund, with tips on how and where to save as well as how to make it last longer. It’s a great starting point for someone new to saving for emergencies.”

RG: “Often when people talk about finances and saving in particular, there’s a negative connotation that invokes stinginess and self-deprivation. This piece attempts to arrest that perception. It raises questions that can help you make better choices when faced with the choice to pursue the short-lived joy of immediate consumption or hold off and choose something better. It’s practical and guaranteed to challenge even those who consider themselves financially literate.”

RG: “In this short video that packs a punch, the author offers investment options for people with only about 5,000 shillings to invest every month. They offer practical investment choices as well as a plan to get out of debt for those who need to do so first before embarking on the investment element. It’s a reminder that you do not need to begin with a lot of money in order to start your financial security journey.”

RG: “This concise piece offers simple, practical tips that can help you save money. The advice is intuitive and immediately actionable, which is helpful given how stressful financial matters can be. Above all else, this piece serves as a reminder that it’s the small things that end up making a big difference. Here are some simple tips that can help save you money.”

RG: “This article helpfully begins by covering the reasons saving may be difficult for many people. The author takes us through the benefits of saving and all we can accomplish by developing the practice. Only then, does the piece dive into practical tips to help you save more. The structure works to slowly imprint in the reader’s mind how crucial saving is so that by the time you get to the tips, you’re raring to go.”

RG: “Many people can relate to the pain of losing money in a failed investment. In this podcast episode, the host interviews two business people who lost money after making ill-informed investment decisions. There’s something affirming about hearing people tell their stories of making costly mistakes and finding ways to recover from them. The two, Rina Hicks and Valentine Njoroge, then went on to build Investable, an online course designed to help people do their due diligence before putting their money on the line. If you’re considering investing in a venture, listen to the experiences of these two once burned and now doubly shy investors.”

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