Your annual rent ought to be less than or equal to your 3 months salary or business income.
With this calculation, you can tell if you are overspending on rent or is within reasonable amounts.
Anything above that can affect your needs, wants, savings, and investments.
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@pat_sern_ @Jessekangethe_ @cheruiyotkb ABOUT DATA COLLECTION
The CashBackApp collects information from Mpesa transaction SMS alerts and the contacts on your phone. This information is used to automatically categorise your expenses, provide you personal finance advice, and help you find friends to build your community
How to build a low-risk portfolio on Sh 70K net salary:
As usual, we insist on 20% allocation to savings and investments, that's Sh 14,000.
~Put 9000 in an MMF
~Put 5000 in a SACCO BOSA
End of year 1:
MMF = 120,960 net average 12%
SACCO = 67,200 net average 12%
Total = 188,160
Move Sh 100,000 from MMF to T-bonds.
End of year 2:
MMF = 144,435
SACCO = 142,464
T-bond = 100,000 excluding 16,000 interests (transfer to MMF)
*New MMF balance: 160,435
Total portfolio value: 402,899
If you had merely saved 14,000 monthly for 2 years = 336,000
+66,899 from just setting up, automating contributions, and living your life.
What about year 3, 4, or 5? 🤯
Helping your child understand the basics regarding money such as how to budget, spend, and save will enable them to establish good money habits for life.
- soko directory
https://t.co/N6PDRhDgzi
Dear Son and Daughter, Nairobi is not your village and it never will be. It is the devil's nightclub. Whilst in Nairobi...;
1. Do not hang out with friends who depend on their parents or rich relatives whilst for you, your parents and everyone else in the village is depending on you.
2. Do not hang out with people who are depending on their harvest whilst you are still depending on your seeds.
3. Do not hang out with people who are dumber than you. Do what you must that you are the least intelligent person in that circle for that's how you are going to grow and level up and once you level up, you upgrade. Focus is you being better than you were yesterday.
4. Do not hang out with people who mock and ridicule the essence of you publicly. That's how they get you to be distracted whilst in private they are prayer warriors.
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Rosy White T/Paper 4's is Ksh 140 in Chandarana and Ksh 144 in Naivas
Dawaat Basmati Rice 2kg is Ksh 499 in Chandarana while it costs Ksh 693 in Naivas
This Weekend grocery savings that got us excited:
Rina Veg oil 3 ltr is Ksh 699 in Chandarana
Ajab h/b flour 2kg is Ksh 189 in Chandarana
Tusker & Balozi Can 500ml is Ksh 189 in Naivas
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Check out more down below⬇️