Personal Finance 101 At Maji Mazuri

It was a great pleasure to share knowledge with Maji Mazuri youth on personal finances #MasterClass #FinancialLiteracy #QualityEducationLifelongLearning

Session Objective;

• How to effectively budget your finances.
• Understanding basic principle around money. 
• How to save and invest your finances (Basic foundation). 

Open Discussion Session 

• OTHER NAMES FOR MONEY the youth language! 
•  THE VICIOUS CYCLE AROUND COST OF LIVING IN THE SLUM (Poverty and Knowledge Economy). The trap: Living day by day, Hand to Mouth, Living on Debt, Living on hopes and promises, Living below the poverty line 

SEVEN PRINCIPLE ABOUT MONEY 

1.  Live within your means Pay debt and taxes 
2. Saving is the first expenditure 
3. Create different streams of income 
4. Have some emergency funds 
5. Pay for insurance cover (NHIF) 
6. Start saving and investment as early as you can (Develop the knowledge, habit, attitude and behavior around money). 
7. Buy based on what you need and less on what you want (Income vs. Expenditure, Wants vs. needs) 

SAVING & INVESTMENTS OPTIONS

1. INVEST IN PROJECT / BUSINESS 
2. SAVING OPTIONS WITH SACCOS 
3. FIXED DEPOSIT ACCOUNT 
4. MONEY MARKET FUND
5. BANK ACCOUNT GREAT 

QUOTES AROUND MONEY! 

 Too many people spend money they earned..to buy things they don't want..to impress people that they don't like. – Will Rogers 

 A wise person should have money in their head, but not in their heart. – Jonathan Swift An investment in knowledge pays the best interest. – Benjamin Franklin 

 Formal education will make you a living; self-education will make you a fortune. – Jim Rohn