We all know that money doesn’t grow on trees nor is it free.  It is our hard work that generates money.  Our hard earned money needs a proper management.  Money managed in a wise way not only enables you to live comfortably within your means but also helps you to increase your wealth. Therefore the following useful keys to money management will help you to gain a control on your finances and budget.

Set a Proper Goal

Set a practical goal to be sure that money being managed is in clear sight.  Always start with small objectives like paying off a credit card or debt within a specified number of months or saving by the end of the year.  Your money management goal should be projected towards a comfortable retirement or life after employment in KPC.

Take a stock of your money 

Keep a track on the stock of your money to know how much means you actually have. Include all the cash in your pocket or purse, bank balances, available credit from credit cards etc.  Count down your assets also as they are a type of your money. Short term assets can be turned into cash whereas Long-term assets would enable you to save money and increase your wealth.

Track your Income and Spending

By keeping a track on your income and expenses you will know where your money goes and it will let you to be prepared to set up a realistic budget for future spending.  By knowing how much you have to spend and spending within limits or within that is allocated puts your finances under your control.

After you have known about the whole money you have and what income you can expect to get take some time to find out where your money goes.  Make it a practice to note down your spending for each month and every month.

Record Keeping

Keep a record of everything which includes the cash you spent, your bill payments, check debit and credit expenditure, how much you paid and where, date of purchase.

Follow these points for a couple of months and you will find yourself reconsidering if you really need to spend your hard earned money on not so required things.  No doubt these wise steps will take you towards a comfort zone of no financial stress.

After you have mastered the art of managing your finances and you are stress free financially, then you can be motivated to start saving and eventually invest.


We recommend that you set aside three to six months living expenses in a safe place where the money earns interest and is easily accessible in case of emergency E.g Kenpipe Sacco.  These are savings, not investments and it is important that you distinguish between the two.

’Forget about a return on my money, what I want is a return of my money’’ (Will Rogers)

Therefore, the key to a successful saving strategy is finding ways to increase the return on your money without having to worry about the return of your money . Kenpipe Sacco offers great opportunities for you to increase your return on your money without worrying the return of your money.

Note: Safety first practice can cause you to lose money after inflation and taxes have taken their share of your interest payments.


Investment Vehicles

Low risk low return

  • Bank accounts
  • Pension funds
  • Money market unit trust
  • Treasury bills
  • Sacco e.g Kenpipe
  • Chamaa

High risk high returns

  • Shares
  • Business
  • Farming
  • Equity based unit trusts

Moderate risk moderate returns

  • Treasury bonds
  • Properties – real estate

Other Ventures

  • Land
  • Tree farming
  • Multi level marketing e.g. GNLD


  • Invest in self
  • Commitment
  • Passion
  • Action in small calculated steps
  • Professional help
  • Regular review on major changes

What can hinder action?

  • Negative mental attitude
  • Procrasmination
  • Comfort zone
  • Blame swing


  • Goal setting – short, medium, long-term
  • Personal budgets
  • Pay yourself first
  • Family emergency fund
  • Tax efficiency
  • Debt control
  • Reducing normal loss – impulse, pester-shopping