My monthly budgeting model is such that instead of planning for every single item I intend to buy, I set aside the following (in order of importance): Savings and Giving Rent Debts (if any) Other bills (fuel, electricity etc) House shopping Whatever remains after that is my “Float” or spending money. When it runs out, I stop spending. For that reason, I rarely track the…
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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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In Part 1 of the 50,000 dollar problem, we looked at my techie friend’s dilemma. He’d come across Kshs 50,000, and was looking to make “good” and certain returns in a year, and since I wasn’t offering him any viable solutions, he was going to buy the iPad2 instead. My advice to him was to take a SACCO loan to pay for his gadget. Why…
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“I have 50,000 bob, where can I invest it for one year and make good returns, without risking the money?” That was my gadgets loving friend asking over Gtalk. For some reason, we don’t like to ask money questions face to face. His question is The 50,000 Bob Problem: You have made some money, too much to waste, just the right amount for the latest gadget…
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