Greetings, and welcome to the Wallet Wellness Newsletter - your midweek source of practical financial tips to elevate your money management skills!

We hope you got a chance to read last week’s edition, where we discussed How to Reset Your Finances After a Rough Month. This week, we shift gears to an even tougher situation—suddenly losing your job or income. It’s overwhelming, but not the end of your financial story.

As always, be sure to check out the Concept Corner below for a deep dive into the money concept of the week.

Let’s dive in!

MONEY254 TIP OF THE WEEK

Fired Without Warning? Here's How to Bounce Back & Take Control

Being fired, retrenched, or having your main source of income vanish overnight can feel like free-falling. But here’s the truth: You still have more control than you think.

Here’s how to regain your footing and get through the storm, one smart move at a time.

1. Take Inventory Immediately 🧾
When income disappears, awareness is your biggest asset. Before making any big decisions, pause and take stock of what you do have. This gives you a baseline and some breathing room to plan from a place of clarity, not fear.

✅ List your financial resources: Cash at hand, bank balances, and mobile wallets.
✅ Include side hustles, expected payments, or support systems you can tap into.
✅ Ask yourself: How many weeks (or months) can I survive with what I have today?

This snapshot helps you understand how urgent your next steps need to be—and what flexibility you might already have.

2. Slash to a Survival Budget ✂️
Now is not the time for business-as-usual spending. You need to shift into emergency mode—fast. Think of it like switching your financial engine to “low power mode” to stretch what’s left.

✅ Strip spending down to essentials only: Rent, food, transport, and medicine.
✅ Pause subscriptions, outings, shopping, and non-urgent expenses.
✅ Switch to cash-based or envelope-style budgeting to stay aware of every shilling.

This temporary sacrifice can buy you valuable time—and peace of mind—while you figure out your next income stream.

3. Negotiate Everything You Can 📞
You’d be surprised how many bills are negotiable when you just ask. Whether it’s your landlord, your internet provider, or your loan officer, start the conversation. The earlier, the better.

✅ Call your landlord: Can you get a grace period or partial payment plan?
✅ Talk to lenders: Explore payment holidays, lower installments, or restructuring.
✅ Check with service providers: Can you downgrade your plan or get a pause?

People are often more understanding than you think—especially when you are proactive and transparent.

4. Explore Quick Income Options 🏃‍♂️
In survival mode, income creativity becomes essential. Don’t overthink the “perfect” job or business right now. Focus on whatever works in the short term to bring in cash, however small.

✅ Offer services in your community—cleaning, tutoring, deliveries, or errands.
✅ Sell unused items online or through local groups.
✅ Explore digital gigs: writing, data entry, virtual assistance, or short-term contracts.

It’s not about building a career in one week—it’s about easing the pressure while you plot your comeback.

5. Create a 30-Day Game Plan 🗓️
This is where you shift from panic to purpose. One day at a time, you can rebuild stability. Instead of trying to “fix everything,” just focus on what you can do in the next 30 days.

✅ Set one goal: Apply for 10 jobs, make Ksh2,000 from a side hustle, or take one upskilling course.
✅ Build structure into your day—even if it’s unpaid work like networking or learning.
✅ Reflect weekly: What worked? What didn’t? Where can I adjust?

This plan keeps your energy focused on forward movement—and that’s what brings long-term recovery.

Remember:
Losing your income might feel like losing control, but it isn’t. You’re still in charge of how you respond, rebuild, and rise again. With a clear head and a strong plan, you will land on your feet.

You’ve got this. 💪💰 

CONCEPT CORNER

Net Worth

Your net worth is a snapshot of your overall financial well-being. It is the primary metric to measure how you progress financially over time. Your net worth is the difference between your assets and liabilities. Read More.

Money Tips & Career Advice

MONEY254 #MONEYTOK

How to Save Ksh1 Million in 24 Months (On a Ksh100K Salary)

If you’re just starting your career, accumulating Ksh1 million isn’t that easy. It might take a few years, even for someone earning Ksh100,000. However, it’s doable if you are committed to the goal.
Below, we’ll explore how someone with a Ksh100,000 gross salary can save enough to buy a Ksh1 million plot in just 2 years, using a method we are going to refer to as the Frugal Minimalist Rule.

@money254hq

𝐇𝐨𝐰 𝐭𝐨 𝐒𝐚𝐯𝐞 𝐊𝐬𝐡𝟏 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟒 𝐦𝐨𝐧𝐭𝐡𝐬 (𝐎𝐧 𝐚 𝟏𝟎𝟎𝐊 𝐒𝐚𝐥𝐚𝐫𝐲) If you’re just starting your career, accumulating Ksh1 million isn’t that easy. I... See more

That's it for this edition of the Wallet Wellness. We hope these financial tips have added some energy to your hustle. Stay tuned for more practical insights in our next edition of "Wallet Wellness" next week and watch out for Money Weekly in your inbox this Friday.

Also, don’t forget to download the Money254 App on the Google Play Store, and remember that we can help you compare over 300 loans, savings accounts, current accounts, and more if you’re thinking about your next product.

Cheers to your wallet's well-being!

Money254 editorial team.