Chachanomics Money Talks

Why Should I Write a Will? Writing a will is a very sensitive, emotive and controversial subject especially in the African context. People view discussions about writing a will or death as a bad omen similar to inviting death into our lives.  Many people ask certain fundamental questions such as: 1. Is it necessary to write a will?  2. How will my family benefit from my will in case I write one?  3. What is required for one to write a will?  These and many other confounding questions reveal that many people don't know what a will is all about. You have heard or witnessed numerous cases of children, siblings or wives fighting over the property of the deceased.  This article will focus on the meaning of a will,  myths and facts about writing a will,  and what is required to write a will.  1. What is a will? A will is a legal document with a set of instructions that specify who should inherit what asset in the event of your demise.  2. What makes people not to write a will? i. It is c

How You Can Use Insurance as a Saving Tool Though insurance policies are instrumental in protecting your investments/assets from any unforeseen risks or disasters (like loss of a job, theft,  death of breadwinner, fire outbreak,  accident, severe illness or retrenchment), many people avoid them not knowing the dire consequences of such a decision. 5 critical questions of great concern: 1. What is insurance all about?  2. Why do people dislike the idea of taking insurance?  3. Are insurance policies necessary? 4. What kind of insurance do I need?  5. What do I need to look out for when taking insurance?  1. What is insurance? It is a financial product you buy to protect  yourself (your life, family, business,  property and other investments) from losing money or income. An insurance policy is a formal contract in which an individual or entity receives financial protection against losses or unforeseen risks.  2. Why do some people detest the idea of insurance? The subject of insurance is