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The most common reason why many people do not join SACCOs in Kenya is lack guarantors or aversion to the idea of guaranteeing other people’s borrowing. The principle behind loan guarantors is that should you fail to repay your loan, the SACCO can recover their money from the people who have signed up as your guarantors...

If you ask a regular personal finance adviser whether you should borrow money, they will give you the Debt Creed; Only borrow to invest, if the investment will earn you better returns than the interest rate of the borrowing. Never borrow for consumption. Aspire to be debt free at all times! However, life does not work...

Online shopping was created for people like me, who like nice things at a good price, but also hate window shopping and haggling. I love that from the comfort of my office desk, I can get  my body butter, duvets, shoes, even lingerie, just by sending an instant message to order, and an M Pesa text. While I have had...

As most of this blog’s readers are aware, last year, the Kenyan government embarked on its largest infrastructure investment so far, the construction of a Standard Guage Railway (SGR) from Mombasa to Nairobi, which has been extended to terminate in Naivasha. There has been varied opinions on the economic viability of...

3 months ago, we set out on a savings challenge, sponsored by Barclays. The aim of the challenge was not about saving a fixed amount of money (though we had a goal), but to train our brains to cope with delayed gratification.  While we are good at setting goals, accomplishing them is difficult. This is because our...

This is the 5th post of our 3 months’ savings challenge. Our mission for the 3 months is to learn how to save more, through converting our poor spending habits into good saving habits. Why do we buy things we have not planned for? Because our brains love it! We have been using the hand versus heart analogy – the hand...

If I remember my high school literature theory right, one of the key elements of a good story is a resolution of the main conflict – things coming together at the end. For some reason, most fiction authors, especially Western fiction authors, interpret resolution to mean a happy ending, or at least a peaceful one. The...

Money goes where you send it That is what my late grandpa and hero told me when I first got employed. I knew my grandfather for 31 of the 92 years he lived and one of the most important things he taught me was to be the master of my money. Being the master of your money means many things, but today I’d like us to talk...

In the last post we asked what happens if she earns more. Today, I want to discuss the different money models married couples (could) adopt and factors to take into consideration as you pick a money model for your marriage. Why is this important? Married couples argue about many things, but the worst arguments are...