The first rule for financial success is spend less than you earn. The last post was on the first part of the rule (spend less), and we looked at five simple ways to ensure you are spending less. This post points to the other part of the equation:increasing your earnings. Increasing your earnings gives you more money to pay off your debts, save for things you want to…
Read MoreWell, this isn’t exactly jargon, but I thought it would be useful to introduce Warren Buffet to you, since we will be using his wisdom in picking stocks in the Nairobi Stock Exchange. Keep checking the stocks category to see how that goes (though we just got started). Warren Buffetis considered one of 20th Century’s greatest investors, something he started doing at a very early…
Read MoreOn the last post, we introduced the first rule for financial success, and I promised to write about basic ways we can adhere to this rule. Spending less than you earn often means that you need to reduce the money you spend (it’s not rocket science really). To start with, this doesn’t have to be anything drastic, extreme money saving tips should come after you…
Read MoreWhat is the first and most important rule if you want to succeed financially? Spend less than you earn. Sounds simple, like something we all do, but really is it? If we all spent less than we earned, then Barclays credit card agents wouldn’t be so busy calling people to tell them about their exciting new products. I got the second call from them on…
Read MoreThis is a guest post by Rebecca Wanjiku, a leading tech journalist, blogger and a burgeoning finance person. Read her insightful blog here, and follow her on Twitter. Wanjiku blogs about her conversation with The Village Banker. Enjoy! If you want to guest post on this blog, check out the guidelines here. When you think of a Shylock, who comes to mind? The person who lends you money…
Read MoreIn Part 2 of The 50,000 Problem, we came across the term Wealth Statement, and I promised we would look at it in more detail in a future post, so here goes. A personal wealth statement is the total value (in money terms) of your possessions or assets which can be sold off. It is often calculated to gain a perspective on your financial well…
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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This is a guest post by Amaan-Ali Fazal, a BASC Mechanical Engineering (Thermofluids) student. Many thanks to Private Naph for getting Amaan to blog for us. Naph is a motor enthusiast and runs the best car blog in Africa (in my opinion). You can learn more about his blog here and follow him on Twitter. If you want to guest post on this blog, check…
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I’d like to open this blog up to guests who have insights they would like to share with my readers, if you’re interested in writing a guest post, please see the guidelines below. Content Your post must be on one of the following areas: – Personal finance – The stock market – Book review (of a finance or related book) – Entrepreneurship Guidelines 1. Your…
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Any investment adviser worth his salt will tell you to include stocks in your investment strategy, but few tell you how to do it. I strongly believe that stocks are great, and should be part of everyone’s long term investment strategy, but I haven’t focused much on them in the past. However, after observing the trends in the Nairobi Stock Exchange (NSE), then reading this…
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