An Overview of the Chachanomics Services

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Chachanomics' Financial Advice in Saturday Nation Sun. 15th Jan. 2023

Reader's Question My name is John. I am 32, married with one child. I got a salary increment from Sh70,000 to Sh100,000 net. My monthly. My monthly expenses are as follows; rent Sh10,000 (though relocating soon to a Sh15,000 house), shopping Sh5,000, food Sh6,000, emergency saving Sh5,000, bills Sh5000, chama Sh2000, entertainment Sh5,000 and parents Sh2,000 shopping. I bought a parcel of land with a bank loan in 2020 with a repayment period at Sh14,000. I am planning to build a two-bedroom house on this plot and also buy a car. Kindly advise on which development is best to begin with and how. I am very afraid to join any saccos. The last sacco I joined collapsed with my Sh400,000 savings. Which are the best investments that can give me passive income or lead me to financial independence or what adjustments would you recommend I make on my finances? Please help. My Expert Personal Finance Advice Your total expenditure per month is Sh54,000 (including loan repayment). Using Sh70,000...
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Saturday Nation Magazine Article about What I Know About Money on 3rd October, 2020

1). What is your name, where do you work and what position do you occupy there? What's the business all about? What does it deal in? What makes your business unique? My name is Chacha Nyaigoti Bichang’a , a Lecturer, Trade Unionist and a Personal Financial Coach. I am the Founding CEO of Chachanomics Limited, a Consulting Company that offers mentorship and coaching programmes. Our mentorship and coaching programmes are unique because we not only focus on personal financial management, but also mental and relationship wellness to ensure that our clients undergo a wholistic transformation. We offer one-on-one coaching sessions, 3 – 6 months’ personal financial and life skills training, corporate and institutional talks. 2). What has been your greatest milestone and how did you come to achieve it? (Please be detailed with a personal example.) What lesson can people learn from this? My greatest milestone is when I embarked on a journey to self-educate myself on how to manage my m...
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Coronanomics Lessons

 Lessons learnt from the Covid-19 pandemic: A Compilation of Questions and Answers During the Corona period, things have changed necessitating drastic changes in budgeting, expenditure and wealth creation. #1. Have an emergency fund It should cover 3-6 months. The problem many people have is that they don't write a budget and know where to spend their money.  #2.Have more than one source of income Don't depend on one source. Create multiple streams of income supplementing the active income. Q. Where can you save your money? Your money should be saved where it is in liquid/cash form for easy accessibility e.g. fixed deposit, savings deposit. If you put it in an asset, that is investment, you may not access your money during an emergency. You can save in call accounts, Sacco where it can be used to determine your borrowing ability. #3. Managing debt Go for a loan for investment purposes not consumption. Never take a loan not meant for an income generating project. Beware debt ki...
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