In our last article, we covered 5 reasons why you are always broke. Now, we look at ways to help you stop being broke all the time. #1: Pay attention to your finances Paying attention to your finances means that you get conscious of how your money moves…

Every so often (for most of us at mid month when our cash is out) we will look at our personal finances and wonder, ‘where does it all go?’. It’s at this point in time (which is probably right about now, the 25th or earlier in the month…

Planning for your financial future is by all means a difficult task and to make it harder you have to realize that any mistake may be a detrimental one. For so many aspects of financial planning there is no going back, at least not without some sort of penalty. The…

You should do both–save and eliminate your debt. Doing both is very important to your financial success. Doing both ensures your success in staying out of debt. I know all the arguments . . . there are those on the side of saving, and those that claim that hitting that…

Every so often (for most of us at mid month when our cash is out) we will look at our personal finances and wonder, ‘where does it all go?’. We do our annual tax returns, look at the money we took home as net pay, and we can’t…

Saving vs investing. Which is more prudent? To answer his question, I think it’s best to start at my definition of the two words. Saving – Putting aside a proportion of your earnings. We covered the basics in The B Word, and agreed that at minimum, one should save…

Over the last couple of years, we have seen a steady increase in the number of ventures claiming to be businesses based on the web (e businesses). Everytime I attend yet another local techies conference (as an impostor since I’m not a techie), I have high hopes that someone will…

After a few posts on personal finances on my blog, one of my readers approached me on the side bar and accused me of being conventional, and as such, wasn’t helping him. I was giving information that we all knew, but I needed to break it down into…

By MWANGI MUIRURI (To receive The Money Academy's Daily Money Talk updates directly in your e-mail inbox, please subscribe) Martin Njoroge vividly remembers the financial scare that almost left him a beggar in 2006. He was an employee of a Nairobi based firm, his terms of service being contractual. Raring to join the ranks of small-scale investors, he approached a local bank and secured a loan of Sh120,000 which he intended to invest in a plot in Nairobi’s Ruai area.  His security for the

(This is the 2nd article in the Money 101 Managing Your Money Series. We advise that you start from the the first article in the Series. Please click here to go to the Money 101 Managing Your Money introduction) a. What, exactly, is personal finance mangement? Personal finance management is the handling and control of your money. It is the taking into consideration your income, seeking to maximize that income and balancing its spread over lifestyle expenditure, saving, accumulation and investment.