Know your numbers. Grow your business.

Review what you earn, spend, owe, save and own. This helps you see what is going well and what needs to change.

Build your skills and learn from mentors, professionals and business owners. Good skills and connections can open doors.

Learn ways to earn more, such as improving your skills, finding better work, freelancing or starting a side business. Where possible, build more than one income source.

Make a budget, track spending and separate needs from wants. Cut waste and spend within your means.

Save and invest before spending on wants. Set up automatic transfers where possible and increase the amount as you can.

Aim to save three to six months of essential expenses. Pay costly loans first, pay on time and avoid borrowing to repay other loans.

Learn about saving and investing, plan for retirement and consider suitable insurance to protect your family and assets. Review your goals often. Investment returns are not guaranteed.

Combine your primary income with suitable side hustles, freelance work, business profits or passive income. Examples include tutoring, digital marketing, farming, rental income and dividends. Additional income can provide a buffer during job loss or unexpected expenses.

Identify your strengths and improve them through learning, training and practice. Build relationships with mentors, professionals, business owners and potential clients who can help you discover opportunities.

Review your earnings regularly, look for opportunities to negotiate better pay or prices, and understand the difference between revenue and profit if you run a business. Track each income source so you know what is working.

Give additional income a purpose before spending it. Use it to build an emergency fund, reduce expensive debt, save towards goals and invest for the future rather than automatically increasing lifestyle costs.

List all income and expenses, including rent, food, transport, utilities, school fees, subscriptions and personal spending. Give every shilling a purpose and review the budget regularly. The 50/30/20 rule can be a starting point: 50% for needs, 30% for wants and 20% for savings and investments, adjusted to your circumstances.

Record daily spending using a notebook, spreadsheet or budgeting app. Review M-Pesa and bank statements to spot impulse purchases, unused subscriptions, frequent takeaways and other costs that can be reduced.

Prioritise essentials and planned goals before discretionary purchases. Compare prices, buy for value, plan shopping and avoid borrowing simply to maintain a lifestyle or impress other people.

Aim to spend less than you earn. When income increases, consider increasing savings and investments before upgrading your lifestyle. Redirect money saved from unnecessary costs towards debt repayment and financial goals.

Choose a realistic amount or percentage to save whenever you receive income. Standing orders or automatic transfers to a separate account or SACCO can help you remain consistent. Start small if necessary and increase contributions as your finances improve.

Work towards saving three to six months of essential living expenses. Keep this money somewhere reasonably accessible, such as an appropriate savings account or money market fund, and reserve it for genuine emergencies like job loss, urgent repairs or medical needs.

Options in Kenya include SACCOs, money market funds, government bonds, shares listed on the Nairobi Securities Exchange, mutual funds, ETFs, real estate and businesses. Understand each option’s risks, fees, liquidity and time horizon before investing. Returns are not guaranteed.

Avoid putting all your money into one opportunity. Build a mix that reflects your goals and ability to tolerate risk. Regular contributions and reinvesting returns can help compounding work over time, although investment values and returns can fluctuate.

Borrowing for education, equipment or a business may support future earning potential, but outcomes are never guaranteed. High-interest mobile loans and borrowing for non-essential consumption can create financial pressure. Compare interest, fees, penalties and repayment terms before signing.

Record each lender, outstanding balance, interest rate, fees, minimum repayment and due date. This gives you a clear picture of your obligations and helps you avoid missed payments or borrowing more to repay existing loans.

The avalanche method focuses extra payments on the highest-interest debt first to reduce interest costs. The snowball method clears the smallest balance first to build motivation. Continue making required payments on all debts while directing extra money to your chosen priority.

Avoid taking loans without a repayment plan, using one loan to pay another, or borrowing for lifestyle expenses. Pay on time, keep borrowing manageable and review your credit report if you need to understand or correct your credit history.

Write down short-, medium- and long-term goals, give each a target amount and deadline, and decide how much you need to set aside regularly. For example, a land deposit, school fees, business capital or retirement savings should each have a clear plan.

Review income versus expenses, debt, emergency savings, investments, insurance and retirement contributions. Calculate your net worth by subtracting liabilities from assets, then repeat the review periodically to see whether your financial position is improving.

Consider regular contributions to NSSF or an appropriate pension arrangement, alongside other long-term investments suited to your circumstances. Start as early as you reasonably can and review contributions when your income or responsibilities change.

Consider suitable health, life and property insurance based on your needs and dependants. Keep important financial records organised and consider a will or estate plan so your wishes and the future of your assets are clearer.

Check your progress every three to six months, or after major life changes. Update your budget, goals, savings and protection arrangements when income, family responsibilities or circumstances change.