1️⃣ When in a new relationship, do not rush things. Take your time and see how your partner interacts with his or her money.
2️⃣ Be as frank as you can. Let your partner know what you envisage as your dream or marriage life.
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3️⃣ Men should grow out of that African way of thinking that women are only confined to drawing small kitchen budgets. Matters of mutual interests should be done together and in this regard men should team up with their wives to see the success of business plans.
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4️⃣ A couple should not equate the lack of money to lack of love in a marriage. This is especially so when a woman withdraws when the family runs broke or when a man loses esteem after a job loss. Unity entails trying to see what a couple can do with the little that they have.
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5️⃣ A couple should give each other's parents monetary support on an open slate. They should be clear on how to go about it so their problems do not overburden one person.
6️⃣ Joint accounts should be agreed on for monthly shopping, school fees & other household expenditures.
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1⃣Performance of Kenya's banking sector from 2006 to 2021. A Thread
Total assets increased by 715.6% from Sh731.99B in 2006 to Sh5.97T in 2021. Customer deposits increased by 660% from Sh580.7B to Sh4.414T. The Sector's Profit After Tax grew by 313.7% from Sh34.74B to Sh143.72B.
2⃣Key milestones of Kenya's banking sector in 16 years:
The balance sheet and profitability of the sector grew in 2006. Assets grew by 18.7% from Sh616.7B to Sh732B. The Sector's Profit After Tax grew by 30.1% from Sh26.70B to Sh34.74B. Lending to the private sector increased.
3⃣ In 2007, Asset growth was driven by increased deposits and rapid branch network expansion.
Assets grew by 26.9% from Sh732B to Sh928. 9B. Customer deposits increased by 19.7% from Sh580.7B to Sh695.4B. The Sector's Profit After Tax declined by 29.2% from Sh34.7B to Sh24.6B.
@KeEquityBank is the biggest lender to SMEs in East and Central Africa with 46% of its loan book consisting of funds lent to SMEs & MSMEs as of June 2022
They plan to lend to 5 million businesses by 2025
Let us look at 2 simple ways to pay yourself as a business owner
A THREAD
As a business owner, you are probably wondering why you need to pay yourself. I mean "all the money in this business belongs to me, so why do I need to learn how to especially pay myself?" @KeEquityBank@SokoAnalyst@omwambaKE
You need to learn to remove your business from being part of you, to be a separate and more sustainable entity.
See a business as living this with its own life. Cash flow is the lifeline of a business.
“Make something people want... There’s nothing more valuable than an unmet need that is just becoming fixable. If you find something broken that you can fix for a lot of people, you’ve found a gold mine.” @paulg
Every successful business creates something of value.
The world is full of opportunities to make other people’s lives better in some way, and your job as a businessperson is to identify things that people don’t have enough of, then find a way to provide it.
The value you create can take on one of several different forms, but the purpose is always the same: to make someone else’s life a little bit better
7 THINGS TO DO BEFORE INVESTING
Putting your money to work is one of the best ways to maximize your financial resources. Irrespective of what you earn, every cash you bring in is an opportunity to make more. Let us look at 7 things to do before investing your hard earned money
1⃣Enumerate your goals
Your income is supposed to help you live your desired life and there is no better way to organize your life than having your personal goals that you want to achieve such as buying a car, starting a business, having passive income etc.
Having clarity on your goals will help you save and invest effortlessly since you will be self-driven.
Lifestyle creep, also known as lifestyle inflation, is a phenomenon that occurs when, as an individual spends more resources on their standard of living, previous luxuries become seen as necessities.
Typically this occurs when someone gets a big promotion causing a boost in income. However, it can also occur when there are decreased costs of living, for example, when a mortgage is paid off
Anything that causes discretionary income to increase, can lead people to begin to spend frivolously — perhaps buying a second home or joining an exclusive sports club.