Do you feel like no matter how hard you work, you’re still struggling with money? You’re not alone. Financial freedom can feel out of reach, especially if we don’t know where to start. Bestselling author Robert Kiyosaki, in Rich Dad Poor Dad, shares simple but powerful tips on how anyone can build real wealth by changing how they think about money.Here are five easy-to-understand lessons from Kiyosaki that can help you take control of your finances and start building wealth!1. Learn the Difference Between Assets and LiabilitiesOne of the biggest mistakes people make is thinking that everything they buy is ...

Escaping the Debt Trap: Strategies for Financial FreedomIntroductionDebt can be a heavy burden that weighs down on individuals and families, impacting their financial stability, mental well-being, and overall quality of life. Whether it's credit card debt, student loans, medical bills, or other forms of borrowing, finding oneself in a debt trap is a common challenge that many people face. However, it's important to know that with the right strategies and mindset, it is possible to break free from the cycle of debt and achieve financial freedom. In this comprehensive guide, we'll explore practical steps and strategies to help you escape ...

Dave Ramsey's Baby Steps is a financial plan designed to help you achieve financial stability and wealth. The plan comprises seven steps, each building upon the previous one, to help you reach your financial goals.Baby Step 1: Build an emergency fundThe first step is to save Ksh 100,000 for unexpected expenses, such as car repairs or medical bills. This step helps to reduce the stress of financial emergencies and prevents you from going into debt. Many people turn to debts to cover unexpected expenses, but this can lead to a cycle of debt that is difficult to break. Having an ...

6 Types of Savings You NeedFinancial advisors will tell you to budget your money in a 50:30:20 proportion. 50 stands for basic needs, 30 for wants, and 20 for savings and investments. Saving helps you cushion yourself against unforeseen future emergencies and meet future needs. Saving today will save you tomorrow.1. Emergency FundSaving money helps to build an emergency fund that can cover unexpected expenses such as car repairs, medical bills, or home repairs. Having an emergency fund can help prevent financial stress and reduce the need to take on debt.You need Ksh 100,000 set aside for eventualities such as ...

How Your Money Mindset Keeps You in Financial StrugglesMany people know the right things to do with their money, but they keep doing things that keep them struggling financially. I was a such a person. My StoryI learned about money in my early twenties, soon after college. I read books like Rich Dad, Poor Dad, and Think and Grow Rich, among others. I had experience working with a microfinance institution and a bank as a lender.I set myself a goal to have one million shillings saved by the time I was 30 years old. Unfortunately, at 30, I had more debt than savings.My experience ...

Where to Save Your Money: SACCO or Money Market Funds?The first step to financial freedom is to save at least 10% of your income. But should you keep your money in the bank? Money put in a savings account loses value with inflation. Therefore, a prudent person must save where their money earns interest. Both the SACCO (savings and credit society) and MMF (money market fund) will earn interest from your savings. But which of the two is preferable?Let's compare and contrast the pros and cons of saving in a Sacco versus an MMF to help you in your decision-making:Pros of ...

Do you feel that if you had another option, you could leave your current job and do something you enjoy doing?Do you feel underpaid in your current job?Do you feel your salary is not enough to meet your needs?If you said yes to any of the above questions, you need to start a side hustle asap!Are there things you love and enjoy doing? You can start the following side hustles today with your gifts or talents: 1. Teach Your GiftYou can help people solve problems with the knowledge you have gained over time or from your profession or passion. There ...

My name is Eunice and I love money conversations. I am also an addict to reading and writing, I, therefore, decided to make an impact on financial wellness through blogging.I understand the pain of living paycheck to paycheck and being debt trapped. I saw a lot of this when I worked as a credit officer in microfinance, and later in a bank. The pain of my clients inspired me to research more on money matters. While at it, I understood my money behavior as well.I will be sharing different topics on money:Money MindsetManaging money Borrowing Debt ManagementSaving and investmentMaking MoneyI aim to ...