I started my 2024 on a very rough patch. But one of the things I am grateful for is ensuring that I have the right insurance policies. Risk management is an integral component of your personal finance plan. It allows you to evaluate your risks, making it easier to plan and get the necessary tools to manage those risks. And one of those tools is insurance policies. Especially health insurance plans.

Don't let illness turn your finances into a rollercoaster in 2024! Health insurance is your best friend for unexpected medical bills!

In this episode, we will talk about the important factors to consider when searching for health insurance in Kenya and the benefits of having health insurance, including your peace of mind, financial cushioning during illnesses, and reducing your tax liability.

🏥 Your health is an investment

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Losing one’s source of main income can be devastating, whether it catches you by surprise or not. The current economic conditions have not been very favorable to many businesses. That, and the ever-changing dynamics in businesses, like tech advancements. 

If I have learned anything from my experience, it is always to have a backup plan. Especially when it comes to my finances. There are steps that you can take to prepare yourself financially for a potential job loss, even when you don’t expect it. 

But when it unexpectedly knocks on your door, it can cause a panic-induced attack. What would you do then? There are also some steps you can take to manage your finances as you get back to job hunting. 

In this episode, I talk about why it’s important to create a new budget or revise the one you currently have, budgeting tips you can use during this period, and strategies you can start using to prepare yourself financially for a job loss event.     

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In this episode, we explore the available strategies you can use to make the most out of your employment opportunities in your pursuit of financial independence. 

While we talk so much about having a side hustle or having a business on the side, it’s not usually a possibility for many people. And it’s okay not to want to explore these options. Honestly, they are quite demanding. Plus, if you love your job and career, it’s totally okay to keep pursuing that. 

However, you must find ways to make the most out of any situations in your employment that allow you to earn more or save money. That money can go into savings, debt repayments and investment opportunities that can help you earn passive income. 

I hope you enjoy this episode and learn something from it. 

If that’s the case, don’t forget to rate and leave a review for my show. This will help me keep supporting more people in their quest for financial independence. 

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Mother’s Day is a special occasion where we get to celebrate our mothers and other mother figures in our lives. In deed, we get to learn a lot from the experiences and stories carried out through generations. So, I have dedicated this episode to honouring our mothers. 

I will be honest; there have been difficult days over the years, even for my mother. But all the experiences, both positive and negative, have been a source of education about many things in life, including money management.

So, in this episode, I talk about the top 5 money lessons I have learned over the years from the women in my life, from my mother to my aunties and close friends. 

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What have you been made to believe about money management and investing as a woman? Is it that the men in your life are better at it than you, so you end up leaving that task to them? Is it that you are bad at math and cannot understand the jargon in the world of financial markets? 

The truth is that all of these, and so many more, are just myths about women and money. Whether it’s investing, risk-taking or spending where men are perceived to be better at it than men, it’s all lies. Money management and investing have nothing to do with one’s gender. But your money script, personality and overall behaviour around money have a significant impact on your finances and financial success. 

In this episode, we talk about the top 4 myths about women and money and solutions to get you out of that mindset and ready to achieve your financial success.

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Sometimes, money and emotions go hand-in-hand. Unfortunately, emotions are unavoidable. And they can cloud your judgment and decision-making, which can be detrimental to your financial success journey. I, for one, have managed not to let sadness and anger drive my financial decisions. Because in the past, I’ve turned to impulse purchases and liquidating investment accounts in reaction to sadness and anger. Now, I tend to retreat to things that help me calm down and take it all in, e.g., binge-watching and listening to music.

Knowing how to control your emotions around money will give you better control of your money usage and any financial decisions. By the end of this episode, I hope you have a ‘small self-meeting’ and evaluate your emotions and how they might have affected previous decisions. Then, look for ways to manage these emotions and their triggers, and create a financial plan you can always refer to making any financial decision, especially when you are faced with negative emotions.

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In this episode, we go back to one of the basics of personal finance planning — creating an emergency fund. The rule of thumb is to have 6-months of your living expenses saved up in a liquid account for emergency spending. But building a full emergency account is not easy, especially if you have debt. That’s why it’s recommended you start with a quick start emergency fund. A quick-start emergency fund is the secret to working on getting out of debt or building a full emergency fund without worrying about unexpected expenses. This episode guides you through the steps of creating a quick start emergency fund, with recommendations for the best budgeting method to use and how to save money from your spending.

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Sacco vs Money Market Funds? This is probably a never-ending debate you will hear or see around. But which is better for you? A Sacco account can help you save for both short and long-term goals, thanks to the ability to borrow against your savings. If you have guarantors, you can borrow as much as 3 to 5 times your savings, depending on your Sacco’s rules. Plus, the funds are not easily accessible. This is an excellent way to buy assets, start a business and grow wealth. With Money Market Funds, you are able to access your funds within a short period, with most institutions wiring the funds within 72 working hours. This, plus the high returns compared to fixed deposit accounts, MMFs are ideal for short-term financial goals. So, which is better for you?

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Getting your finances in order and working toward your financial success requires using certain tools. One of those is a budget planner. Budget planners help you track your transactions, stay organised and create healthy financial habits. There are several types of planners to use, either a spreadsheet, digital PDF or a physical book. I recommend using either of these. You can try them all and finally settle on one or two that make budgeting fun. Because it doesn’t have to be boring.

If you are looking for a planner, check out my online shop (click on the link below)

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Life is unpredictable. Anything can happen and leave you in ruin, not just emotionally but financially as well. But do you know how vulnerable you are financially? If a sudden illness hit or thieves broke into your house, how far back will it set you? In this episode, I take you through how you can stress your finance. It will help you identify areas in your financial plan that need work.

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