mzeiya
Elder Lister
So, as I have advocated on this forum before, making your money work for you is a smart path on the way to financial freedom.
Indeed, it's very easy to save and feel all giddy whenever you look at your bank/Mpesa balance, but even more fulfilling is having whatever you have accrued literally work for you.
Passive income is a desire for many, but as I have discovered in my investments' journey, you will always need to put some effort into it. Even real estate, which I am now enjoying the fruits of, requires work, especially during acquisition.
Anyway, the money I have that isn't yet channelled into a portfolio always ends up in money market funds. I only have two, both in CIC with one being a USD fund. The returns are good despite the withholding tax (15%) and the usual paltry management fee.
Sasa, many times I find myself with a sizeable Mpesa balance, and so when I read about Safaricom's new MMF called Ziidi, I decided to give it a try. The good thing with it is that it's convenient, and investments start at 100 bob. So, on Jamhuri day, nikaweka hiyo soo moja and the next day ilikuwa imezaa 0.03 shillings lol. Left it for one more day and then on Sato nikaamua kuweka 180K which prompty increased the interest earned to 56 shillings. So jana nikaongeza the rest of what I had in my Mpesa since 59 shillings more was earned. Sahii, inakaa hivi
It isn't much, but much better than pesa kukaa tu kwa wallet ya Mpesa. I think I'll keep it for the fact that one can withdraw any time. Wanna know more? Read here: https://www.safaricom.co.ke/main-mpesa/m-pesa-services/wealth/ziidi
Indeed, it's very easy to save and feel all giddy whenever you look at your bank/Mpesa balance, but even more fulfilling is having whatever you have accrued literally work for you.
Passive income is a desire for many, but as I have discovered in my investments' journey, you will always need to put some effort into it. Even real estate, which I am now enjoying the fruits of, requires work, especially during acquisition.
Anyway, the money I have that isn't yet channelled into a portfolio always ends up in money market funds. I only have two, both in CIC with one being a USD fund. The returns are good despite the withholding tax (15%) and the usual paltry management fee.
Sasa, many times I find myself with a sizeable Mpesa balance, and so when I read about Safaricom's new MMF called Ziidi, I decided to give it a try. The good thing with it is that it's convenient, and investments start at 100 bob. So, on Jamhuri day, nikaweka hiyo soo moja and the next day ilikuwa imezaa 0.03 shillings lol. Left it for one more day and then on Sato nikaamua kuweka 180K which prompty increased the interest earned to 56 shillings. So jana nikaongeza the rest of what I had in my Mpesa since 59 shillings more was earned. Sahii, inakaa hivi
It isn't much, but much better than pesa kukaa tu kwa wallet ya Mpesa. I think I'll keep it for the fact that one can withdraw any time. Wanna know more? Read here: https://www.safaricom.co.ke/main-mpesa/m-pesa-services/wealth/ziidi