'I'm a broker and mum of two, how do I plan for my money yet most times I earn nothing?'

In Nairobi, I pay Sh12,000 rent, Sh3,000 on personal care, between Sh12,000 and Sh15,000 food and groceries, fare Sh5,000, Sh1,000 airtime, Sh1,500 internet, miscellaneous Sh5,000.

I would love to be saving consistently but there are months I am unable to save when I don’t make any money or enough money to meet my expenses and still have something left to save.

I currently have Sh220,000 in savings. I had Sh310,000 in December but I used some because I didn’t make money and needed to give my kids a good Christmas and still cater for their back-to-school.

I have a degree but jobs are hard to come by these days. I keep hoping I can afford to go back to school and do a Master’s part time to boost up my income and employability.

I don’t know how to do this. Should I take a loan? I also think about starting a side hustle but I am afraid I will exhaust all my savings and don’t have a regular guaranteed income. What do I need to do to achieve financial independence? What side hustles can I start?

Muthoni Njakwe is an accountant and the author of personal finance book Her Shilling, Her Power: A Woman’s Guide to Financial Freedom.

She says:

Michelle, you are not failing financially. What you are experiencing is the pressure of irregular income combined with heavy responsibility, not poor money management. The fact that you consistently support your children, pay rent in Nairobi, survive months with little or no income, and still maintain savings of Sh220,000 shows you are disciplined and resilient. Your challenge is income volatility not spending, and your expenses are largely reasonable and non-negotiable.
With a clear plan, structured priorities, and a disciplined approach, it is possible to protect your savings, smooth income gaps, and gradually build toward financial independence without compromising your children’s needs or your own stability.

Secure your financial foundation first

Your immediate priority should be stability. With irregular income and dependents, savings must first function as a financial safety buffer, not investment capital.

You should set up an emergency fund equivalent to at least six months of essential expenses. This means that, if your monthly expenses average Sh50,000, your emergency fund should be at least Sh300,000.

Until this foundation is firmly in place, avoid committing money to high-risk side businesses, speculative investments, or education funded through debt.

Without a stable base, even a single income gap or unexpected expense can undo months of progress. Stability must come before growth because it gives you peace of mind, flexibility, and the ability to make sound financial decisions under pressure.

Reduce income volatility before chasing growth

The most important step toward financial independence in your situation is reducing income volatility. Predictable cash flow is more valuable than occasional high-earning months. The goal is not to earn more randomly, but to earn more consistently.

Focus on securing retainer-based work, even if the amounts seem modest. One or two reliable monthly payments that cover core expenses are important to reduce dependence on savings during slow periods. This predictability changes everything from how you plan your month to how much financial anxiety you carry.

Look for roles that align with your skills such as administrative support, client follow-up, coordination, procurement assistance, or even virtual support. They require minimal start-up costs, allow flexibility, and can coexist with your current fixer or broker work while smoothing income.

Formalise what you already do

Being a fixer or broker is not “nothing.” It is problem-solving and deal-making. The problem is not the nature of the work, but its randomness. When work is unstructured, income becomes unstable.

To improve consistency, narrow your focus to one or two niches where you already have networks, credibility, and experience. Shift from chasing one-off deals to building repeat clients and ongoing relationships.

Predictable income comes from structure, clear expectations, and continuity, not constant hustling. This transition does not require new capital, only clarity, discipline, and intentional positioning.

Be conservative with side hustles and education

Any side income you pursue should reduce financial risk, not increase it. Avoid ventures that require large upfront capital, constant physical presence, or inventory, as these increase vulnerability, especially when your income is irregular.

Instead, prioritise side hustles that are low-cost and self-financing — activities that rely on skills, time, or existing networks rather than drawing down your savings. Expansion and higher-risk ventures can come later; for now, the focus should be on stability.

The same principle applies to education. Rather than taking loans for a Master’s degree at this stage, focus on short-term, practical skills that can raise your earning potential quickly.

Skills such as bookkeeping, proposal writing, tender support, CRM management, or structured virtual assistance complement your current work and can be monetised within weeks or months.

At the same time, there are multiple platforms run by reputable institutions that offer certified free courses that you can tap into to improve your marketability and employability without spending a coin. Formal postgraduate education can be revisited once your income becomes more predictable and stable.

Financial independence at your stage is not about having millions or big titles. It is about steady income, protected savings, practical skills, and less financial stress.

If you focus on securing your safety net, smoothing your income, formalising your work, and being cautious with side hustles and education, you can move from surviving month to month to building a stable, predictable life — all without compromising your children’s needs or your own peace of mind.

Every small, deliberate step you take now will give you control, confidence, and a foundation for real independence.
 

If you have any money problems, send us an email at [email protected] and leave your number for contact. Money questions will be answered on this column.