The majority of us went to school. We were taught a lot of things. We did common courses. As time went by, we entered into areas of specialization. Financial management and accounting were taught, but funny enough, personal financial management was never taught. Any gadget bought—be it a phone, a TV set, a microwave, drugs, or a vehicle—manufacturers normally package them with manuals, but imagine no one gave us a money manual. Employers just pay without helping their employees in the management of their salaries.

What is normally witnessed is the aftermath of mismanagement of their salaries, such as absenteeism, low morale, quarrels, and lethargy. It’s my hope that this literature will help you a long way in understanding personal finance and its management. Quoting from Wahome Ngari’s Personal Finance 101: “Financial success is not an academic thing; otherwise, all professors and educationists would be billionaires. It is not a race or a tribe thing, nor is it a geographical thing. Financial problems can be troublesome monkeys on one’s back.”

You have to pay bills, which obviously grow on a monthly basis. Your relatives need financial assistance, you want to buy a car, pay school fees for your kids, pay the landlord, and manage a thousand and one other commitments. Loans do not seem to help; in fact, the total accumulated debts are already worrying. What is your way out? What you need is effective personal financial planning. I will try as much as I can to provide some means of overcoming these challenges.

Quote by Dr. Paul Kibicho:
“Financial literacy is an issue that should command our attention because many Kenyans are not adequately organizing finances for their education, health care, and retirement.”

Remember:
“A day of worry is more exhausting than a day of work.”
“Failing to plan is planning to fail.”
“The process of success is normally hidden, but the outcome is evident.”