If the answer to the above is no, what you need is not an investment option but a means of boosting your income earning capabilities, or even a secondary source of income.
After increasing the share of your disposable income, you'll then need an emergency fund in place. Get a money market fund for this.
I asked a couple of guys inquiring me on investments to fill in a questionnaire on their investment needs, and the findings are interesting.
Let's take an example of a person working in a human resources office with a basic HR degree. Setting aside a couple of minutes a day to learn sign language would go a long way in terms of opening opportunities for the individual. We are talking about equal employment opportunities for all, and we are seeing a lot of hearing-impaired people getting job opportunities.
Or the teacher who takes up basic first aid training and a referee course. This guy is going to be the designated scout and games teacher. Switching employers to go to a better paying employer will be so easy.
The other way of boosting your disposable income is by checking for opportunities in your immediate environment. My friend works as a banker in Eastleigh and lives in Kitengela. He drives. Every evening he delivers goods to Eastleigh shoppers based in Kitengela.
What is it that you can do in your immediate environment?
After increasing the share of your disposable income, you'll then need an emergency fund in place. Get a money market fund for this.
I asked a couple of guys inquiring me on investments to fill in a questionnaire on their investment needs, and the findings are interesting.
1. Disposable income
86 per cent of the respondents saved or invested less than 30% of their incomes.2. Secondary source of income
Less than 10% of the respondents had a side hustle of any form.3. 72% of the respondents had no emergency fund set aside.
The surest way of increasing disposable income for many people is to invest in skills.Let's take an example of a person working in a human resources office with a basic HR degree. Setting aside a couple of minutes a day to learn sign language would go a long way in terms of opening opportunities for the individual. We are talking about equal employment opportunities for all, and we are seeing a lot of hearing-impaired people getting job opportunities.
Or the teacher who takes up basic first aid training and a referee course. This guy is going to be the designated scout and games teacher. Switching employers to go to a better paying employer will be so easy.
The other way of boosting your disposable income is by checking for opportunities in your immediate environment. My friend works as a banker in Eastleigh and lives in Kitengela. He drives. Every evening he delivers goods to Eastleigh shoppers based in Kitengela.
What is it that you can do in your immediate environment?
