When I say wealth, what I am are really describing is the lifestyle that you’d like to live. For me, it’s a British sports car parked outside a designer house not too far from Nairobi.
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2/ Most of us are not yet there but we’re trying to figure out how to get there as quickly as possible. From my many years interacting with people, i’ve come to realize that there are two major considerations when looking to create wealth in your career.
3/ One is increasing your current income and two is figuring out where to invest your money so that it starts working for you.
If you create value money will find you.
I felt a strain in my back and realized it was because I was hunched over trying to read from my notebook in the fading light. I stood up to go switch on the light and that’s when I noticed I wasn’t alone.
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2/ At a corner in the back, I saw the top of someone’s head peeping over the desk dividers of our open-plan office.
Eric was meticulously inspecting every company transaction from the previous month.
3/ He dotted every “i” and crossed every “t” in our accounts and expected nothing less from his colleagues.
Like Eric, most of us are careful to include every detail when dealing with our employer’s money.
How much do you really cost? Are you in touch with the amount of money it actually takes to sustain your lifestyle?
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2/ Well, most married people will not have the answer to this but if If you are single, you manage your expenses by yourself, they are yours to accommodate. Whether it is rent, food, transport, school fees, entertainment etc.
3/ You have a better grip on what it actually takes to sustain you than somebody who is married.
For many couples, it’s about splitting the bills. School fees, rent or the mortgage may be paid by one party while the other person handles the household bills…
It’s a good time to revisit the topic of budgeting given the recent increase in fuel prices. This will not just affect our transport costs but will translate to other areas like electricity, food etc.
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2/ We need to go back to the basics and look at our expenses so that we don’t get surprised.
How can you stretch that shilling?
a) Have a budget in the first place.
When you don’t plan your spending in advance, you are really groping in the dark.
3/ We avoid looking at the numbers hoping something somewhere will fall into place. A budget makes you aware. If you have no idea how much you spend on things, track your expenses for a month and you will come up with a pretty good idea.
1/ What Stopped You From Achieving Your Goals This Year?
We are less than three months away from the new year. Chances are that we will once again start the whole new year resolutions conversation. Are you tired of saying the same thing year in year out?
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2/ Aspiring for change and finding yourself in the same spot? You may be feeling that you haven’t moved. Maybe before setting these goals once again we can first evaluate what has stopped us from making progress.
3/ There is really no point of planning out another journey if you know your car won’t start. Resolve the issues with the car, then you have a chance of going somewhere.
Do you wish you had learnt how to handle money earlier? Maybe it is our children who will not have to lament about that. The earlier the better.
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2/ We run financial literacy programs for kids and many parents have asked us what they can consistently do with their children at whatever age to instill the right principles. Here are five things that can get you started.
3/ a) Let them earn it.
The mistake many parents are making is giving their children money without making them work for it. There are some children that are given the kind of money that could be somebody’s salary.