Greetings, and welcome to the 38th edition of 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 ways to overcome the fear of investing. This week, we shift gears to why we self-sabotage our financial goals and how to overcome them.

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

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.

This cycle isn’t about laziness or lack of ambition. It’s often self-sabotage, which is unconscious behaviours that quietly work against our own interests. Understanding why we do this is the first step to breaking the pattern, and these include:

1. Fear of change 

Achieving big financial milestones can feel intimidating. Owning land, hitting a savings goal, or finally investing in the stock market means entering new, unfamiliar territory. Fear whispers: “What if I fail? What if I lose everything?”

As a result, people stay in their comfort zones where they choose short-term pleasure over long-term growth.

2. Emotional spending

When life gets stressful, money often becomes a coping mechanism. You’re having a bad week, so you buy nyama choma, drinks, or new shoes to feel better. The relief is temporary, but the dent in your budget is real.

3. Lack of clear and achievable goals

Vague goals like ‘I want to save more’ set you up for failure. Without a specific target and timeline, it’s easy to give up or get distracted. Think about how many people say they’ll start investing one day, but never decide when or how much.

4. Lifestyle comparison

Seeing friends on Instagram going on trips or buying cars can trigger unhealthy competition. Many people, especially young professionals in Nairobi, feel the silent pressure to keep up. This often leads to overspending or taking loans they can’t sustain, further sabotaging their real financial priorities.

5. Negative money beliefs from childhood

If you grew up hearing that ‘money is hard to get,’ you may unconsciously sabotage your success because deep down you don’t feel you deserve financial stability. These hidden beliefs can quietly block progress.

How to stop self-sabotaging and take control

1. Set clear, achievable goals
Break down your goals into small, specific steps. Instead of saying, 'll save more this year,’ say, “I’ll save Ksh3,000 from every salary into my SACCO account.” Clear targets reduce overwhelm and boost motivation.

2. Automate your financial processes

Set up automatic transfers for savings and investments immediately after payday. This removes the temptation to spend money first and save what’s left, which rarely works.

3. Build an emergency fund
Unexpected expenses often derail financial goals. Having even Ksh10,000 in a savings account can keep you from dipping into investment money when life happens.

4. Create an accountability system
Find a trusted friend, partner, or accountability group where you can discuss your financial progress. Having someone to encourage you and celebrate milestones can keep you on track.

5. Practice mindful spending
Before buying anything expensive, pause and ask: ‘Is this helping or hurting my long-term goals?’ This simple pause can stop emotional or peer-pressure-driven spending.

Final Thought

Self-sabotage often looks like harmless fun or procrastination. But every unplanned spending  or delayed investment slows your progress. Breaking the cycle starts with self-awareness and small, consistent actions. Your financial goals aren’t impossible; they just need you to get out of your own way.

CONCEPT CORNER

Bull Market

A bull market is a period when the prices of investments in stocks are consistently rising or are expected to rise. It reflects strong investor confidence, increased buying activity, and overall positive economic conditions. In Kenya, for example, a bull market could be seen when share prices on the Nairobi Securities Exchange (NSE) steadily climb for months. Read more.

Money Tips & Career Advice

MONEY254 #MONEYTOK

Why Some Kenyans Prefer Investing in T-Bills and Not MMFs

T-Bills are government securities that pay a fixed return at maturity, while MMFs pool investors’ money into low-risk assets like deposits and T-Bills, offering flexible access but fluctuating returns.

Both are considered safe options for growing money. Here are some reasons some Kenyans choose T-Bills over MMFs

@money254hq

𝐖𝐡𝐲 𝐒𝐨𝐦𝐞 𝐊𝐞𝐧𝐲𝐚𝐧𝐬 𝐏𝐫𝐞𝐟𝐞𝐫 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐧 𝐓-𝐁𝐢𝐥𝐥𝐬 𝐚𝐧𝐝 𝐍𝐨𝐭 𝐌𝐌𝐅𝐬 T-Bills are government securities that pay a fixed return at maturity, while MMF... See more

That's it for this edition of 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.