Your goals should be specific, measurable, achievable, realistic and time-bound.
Identify your definite purpose and monetise your passion based on your core gifts and skill set.
My name is Dan. I live in Nairobi, Ngara, and my net salary is Sh29,449. I work in the Westlands area and use matatus. I used to save Sh4,000 per month in a Sacco account but I haven’t been saving for the past six months. My sacco savings were Sh16,000, which I withdrew and spent. I am in a merry-go-round with a couple of my friends where we contribute Sh3,000 every month. We are 20 and I expect to get Sh60,000 when my turn comes up in October this year. My problem is accounting and budgeting for my money. Other than rent money of Sh7,000, I don’t know how to budget or spend. Sometimes I spend and find myself broke and with mobile debts. I have tried to use the 50:30:20 model but I can’t seem to figure out how it works. I have a wife and we are expecting a child in December. My wife is a veterinarian but she is not currently practising. She is jobless and expectant. Please help me get my act in order.
Chacha Nyaigoti Bichang’a, a financial coach at Chachanomics Consulting Firm and the author of ‘Mastering Your Money’, says:
