We 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…
Read MoreAre pursuing your passion and making money mutually exclusive? Do you currently hate your job and are hoping to make enough money to some day quit and do that which you are truly passionate about? Are you sure what you’re passionate about is what you are genetically encoded to do? This 4 minute video talks about how to make sure your passion also pays your…
Read MoreA couple of months back, every entrepreneur’s worst nightmare happened to us. The tax man came knocking for a tax audit. If you have kept up with the news, you know that KRA has been below target in their tax collections and they have gotten rather aggressive in their bid to recover lost ground, going after even the most faithful tax payers to find loopholes…
Read MoreOne of my young but brilliant friends sent me this text early on a Saturday morning: “Do you think I should take a mortgage now?” He’s about 24 years, he has done really well career wise, and his pay slip could support a mortgage if he sacrificed a few luxuries well-to-do 24 year olds typically enjoy. Personal finance advisers sit on two extremes when it…
Read MoreTwo monks were strolling by a stream on their way home to the monastery. They were startled by the sound of a young woman in a bridal gown, sitting by the stream, crying softly. Tears rolled down her cheeks as she gazed across the water. She needed to cross to get to her wedding, but she was fearful that doing so might ruin her beautiful…
Read MoreHas this ever happened to you? You are reading a book, watching TV, scrolling your tweets or shuffling papers while your significant other (or your friend or mother) is talking to you. Suddenly you hear, “You are not listening to me.” You look up and say, “Yes I am.” And calmly provide a verbatim playback of everything said to prove that you were listening and…
Read MoreAbout 11 months ago, I wrote about the Envelope Method, an easy way to keep track of your spending where you deposit specific amounts as per your budget into specific physical envelopes, and you only spend money off the envelopes for the intended purpose. I had promised to try the Envelope Method then write about my experience on here, but I totally forgot. Thanks @NotMutant for…
Read MoreThis is hardly the best home for a poem, but this poem by Marrianne Williamson has gotten me through a rather tough week, and I thought it would be good to share it. We all make mistakes, but some mistakes beat on our self esteem more than others. For some, work mistakes get them down while they breeze through life issues, while for others, career…
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