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Why You're Always Broke by Week Two of Pay Day & How to Break the Cycle
It’s week two after payday. Your salary hit your account just the other day, but somehow, you’re already calculating how to stretch the remaining few shillings to the end of the month. You’re not alone. On many occasions, some salaried Kenyans often run out of money before mid-month despite earning decent incomes. So why does this happen, month after month?
65,000 Kenyans Facing Layoffs, CBK to Slash Mobile Money Charges
65,000 Kenyans are at risk of losing their jobs after the African Growth and Opportunity Act (AGOA) ends. CBK proposes to cap fees charged by mobile money providers. KWS increases entry fees for all its national parks and reserves. All this and more in today’s Money Weekly newsletter. But first, a closer look at the expected effects of the lapsed AGOA deal.
5 Quick Money Moves to Make the Day You’re Paid
The first 24 hours after payday are the most critical for your financial health. By making a few quick, automated moves, you can secure your future before the temptations of the month kick in. This is how you take control before the money starts controlling you.
2,260 Companies Shut Down, Proposal to Zone Land for Building Homes
2,260 companies close shop after the introduction of new tax measures. MP proposes adoption of a policy to block Kenyans from building homes on agricultural land. Tea company announces plans to lay off 2,000 employees. All this and more in today’s Money Weekly newsletter. But first, a closer look at the increased closure of companies in Kenya.
How to Rebuild Your Budget After Back-to-School Expenses
For many Kenyan families, September means school fees, uniforms, books, transport costs, and boarding requirements. By the time kids are settled, wallets are stretched, and budgets feel broken. But just because your finances took a hit doesn't mean you can't get back on track.
Audit Uncovers 50,000 Ghost Students, Police and KDF Announce Mass Recruitments
Government's audit uncovers 50,000 ghost students in secondary schools. Kenya Defence Forces (KDF) and the National Police Service Commission (NPSC) announce mass recruitment of officers. Report reveals the average sitting allowance MCAs earn in each county. All this and more in today’s Money Weekly newsletter. But first, a closer look at the audit of ghost students in schools.
Why We Self-Sabotage Our Financial Goals and How to Stop
Many Kenyans begin the year with big financial goals: saving for a plot, clearing HELB loans, building an emergency fund, or finally starting an investment. But somewhere along the way, these goals quietly die off after the money is swallowed by impulse buying, unplanned expenses, and self-doubt.
When KRA Can Tax Your Bank Deposits, Hackers Steal Ksh810M from Kenyans
Court rules that KRA can consider bank deposits as taxable income in cases where account holders cannot provide proof of the source of money. Hackers steal Ksh810 million from Kenyans using mobile banking. Kenya Power to refund Kenyans for blackouts in new proposal. All this and more in today’s Money Weekly newsletter. But first, a closer look at the court ruling that will set a precedent on how KRA views bank deposits.
How to Overcome the Fear of Investing
You’ve probably heard stories of people who lost everything in fake land deals, collapsed Saccos, or too good to be true projects. For some, these stories can cause fear and prevent them from seeking opportunities to invest. The truth is that fear is the biggest barrier between you and financial growth.
Banks Cut Down on Personal Loans, 68% of 2024 Taxes Go to Debt
Banks cut down on issuing personal loans to Kenyans amid high rates of defaults. Kenya uses 68% of its 2024 revenue to pay off debt and interest. 11 banks risk losing their licenses in December over new capital requirements. All this and more in today’s Money Weekly newsletter. But first, a closer look at why banks are cutting down on issuing personal loans to Kenyans.
Costly Mistakes to Avoid Making During the First Week of Receiving a Salary
Receiving your salary can feel like a fresh start, a moment of financial freedom. But for many Kenyans, that feeling is quickly replaced by a sense of dread as the money seems to vanish in a matter of days. The first week is crucial, as the spending habits you adopt then often set the tone for the entire month.
Kenya Loses 400 Millionaires, Govt Proposes Paid VIP Service on eCitizen
Kenyan dollar millionaires drop by 400 in 18 months. Immigration PS Belio Kipsang reveals plans to introduce premium services on eCitizen. KRA to introduce changes in the filing of tax returns for salaried Kenyans. All this and more in today’s Money Weekly newsletter. But first, a closer look at Kenya losing dollar millionaires.