Balanced Fund:

Buying Price: 6.0606

Selling Price: 5.8841

Money Market Fund:  9.0% pa

Personal Pension Fund

Price: 17.2513

Guaranteed Pension Fund: 8.5% yield


Last Quarter Financial Review

Quote of the Week: “Wonder is the foundation of all philosophy, inquiry the progress, ignorance the end.”~ Michel de Montaigne 

Executing your personal finances strategy takes more than a New Year’s resolution; it requires discipline, education and constant review of your financial journey throughout the year. 

With only a few months remaining to the end of the year, taking a glance at your financial strategy can motivate you to keep working towards your personal finance goals as well as highlight areas that may need some improvement. Right now is the perfect time to pause and assess, so you can perhaps make adjustments, and finish strong. Below are a few areas to evaluate to ensure that you are on track with your financial goals for the year 2014. 

1.      Review Your Credit Report

The first step in the review is to check your credit report to assess how your personal finance strategy has affected your credit score. Take a good look at your debt level. Assessing your outstanding debts and payment history will help you gauge whether or not your personal finance strategy is working for you or not. 

2.      Evaluate Your Budget

Sticking to a budget is the most effective way to meet your financial goals, but it can be easier said than done. A mid-year financial review will help you determine whether you are saving enough for your goals and paying off debts sufficiently. In addition, life changes can throw your budget off balance so it becomes necessary to examine your personal financial goals and reorganize your budget to adjust to these changes. 

3.      Evaluate your cash savings.

Consider boosting your emergency savings. Maintaining 3 to 6 months of living expenses in a money market fund account is a general rule of thumb. However, consider your individual situation and determine if you need to increase your reserves to potentially cover a longer time period. 

4.      Get a jump start on the holiday season.

The distant future is just as important as the near one.  Give yourself a debt-free holiday by putting away cash for the holidays in a money market fund account. Start putting away a few extra shillings each week, this can potentially help ease your financial strain in the coming holiday season. 

Bottom Line:

Performing a financial review is not only helpful for confirming what has happened and shedding light as to why your results are the way they are, but it can also serve as a preview for what is to come. Change is inevitable and procrastination is the enemy. Merely creating a financial plan is not enough, timely reviews are imperative if you want to achieve your financial goals.  

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 our facebook page- Zimele Asset Management (Kenya)