UNIT PRICES AND YIELDS


Effective Date: Tuesday 22nd August, 2017

Balanced Fund:

Buying Price: Ksh 6.9631
Selling Price: Ksh 6.7603

Money Market Fund: 10.34% p.a

Personal Pension FundKsh 18.8127

Guaranteed Pension Fund11.25% p.a

Quote of the Week: "Beware of little expenses. A small leak will sink a great ship."~ Benjamin Franklin.

buy the product

We are faced with purchase decisions every day. Some are major decisions like buying a car or house, others are small decisions like buying the day’s groceries. While we give much thought and planning to the major purchase decisions, rarely do we place enough emphasis on the ‘small’ purchases. However, these ‘small’ expenditures might ruin you financially if you do not track them over time since they eventually add up to a whole lot of money in the grand scheme of things. Before buying anything, we should always give the decision some thought. Here are some of the things you should consider before making any spending decision:-

1. Do You NEED It or do You Just WANT It?

Is the purchase really necessary? How many times do we buy something we do not really need? This is usually the case with impulse buys. Before buying something try and figure out whether it’s a need or a want. Figure out whether you can find another alternative. Maybe you already have an alternative. Sleep on it.

2. Longevity

What is the warranty of the product? How long do you intend to own it? Longevity is an important consideration especially when it comes to purchasing assets. Get something durable that will not cost you an arm and a leg in maintenance cost. Even if you are not planning to hold the asset for long, you will still want something that you can sell at a reasonable price when the time to dispose it comes.

3. Is There A Better Deal?

Sometimes unscrupulous traders rip us off while convincing us they are giving us a better deal. Research and find the market value of the product. Always settle for value not just in terms of money but also quality. Nothing disappoints more than spending too much only to get a product of poor quality. Also, find out if there is another form of ownership. Can you lease or borrow instead of buying? This might help you avoid unnecessary spending.

4. What Are You Giving Up?

Regardless of our income, we all have unlimited wants and needs. For every purchase you make, you will be foregoing something else. You may decide to buy sukuma wiki for example, and forgo meat.Spending also means turning down the opportunity to save. So, before buying anything, think about what you are giving up. Do a simple cost-benefit analysis.

5. Can You Pay Cash?

The rule is simple; always pay in cash if possible. Do Not pay for today’s wants with tomorrow’s income. Keep track of your cash via a budget. Allocating a sum of money to your daily spending and the major purchases will be a great way to keep everything in balance. Also, experts advise that you spend what is left after saving. The savings could be used later to acquire assets or start “that biashara” instead of borrowing.

buy something

You can send your comments or questions to This email address is being protected from spambots. You need JavaScript enabled to view it. , or visit our offices at Ecobank towers, 7th floor, Muindi Mbingu street for more information on personal financial planning. You can also follow us on Facebook and twitter @ZimeleAM

Weekly Updates

SHOULD YOU BUY IT? WHAT TO CONSIDER BEFORE SPENDING

SHOULD YOU BUY IT? WHAT TO CONSIDER BEFORE SPENDING

11 August 2017

Quote of the Week: "Beware of little expenses. A small leak will sink a great ship."~ Benjamin Franklin. We are faced with purchase decisions every day. Some are major decisions like buying a car or house, others are small decisions like buying the day’s groceries. While we give much thought and...