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PERSONAL FINANCE: Do you ever track your expenses?

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Have you ever tried to lose weight, keep fit, or maintain a healthy diet?

One of the highly recommended procedures that you must undertake to achieve your goal is faithfully keeping a record of everything you eat and drink.

The road to a healthy lifestyle becomes much easier if you habitually keep a close eye on the type of food you eat, including the amount of sugar, carbohydrates, proteins, and fats you consume.

When it comes to maintaining a healthy financial lifestyle, the same philosophy applies. You must keep a record of everything you spend your money on. This involves knowing where your money goes every month and turning this knowledge into a source of financial wellness.

For example, can your account for every shilling you spent in March? None the least, tracking expenses is usually easier said than done. Let’s take a look at some of the ways you can get it right:

What is your monthly net income?

This is the first thing you need to know. Personal finance coach Robert Kimani says that knowing what your monthly net income is will give you the benchmark figure with which you will contrast your expenditures.

“”You must have a correct net figure that shows how your money is spent on your fixed and unfixed expenses,” he says.

If you’re employed, your net income will be the amount you have after taxes and deductions such as NHIF or NSSF have been made. It might be harder to get a monthly standard figure if you are in entrepreneurship because business income is not constant. But you can get a good idea by getting the average of net income from the last few years and adjusting it on a monthly basis.

Rob Berger, a financial advisor and the author of Retire Before Mom and Dad, says that apart from your net income, you should also track your net worth. “You need to come up with a statement of your net worth. It should include a list of the assets you own and the debts you owe,” he says.

Rob also says you must not literally include every asset you own, but all debts on your statement. “Include critical financial channels such as checking and savings accounts, investment and retirement accounts, and, businesses and real estate ventures. You can track these using a spreadsheet such as the Google Sheets spreadsheet,” he says.

There are a host of mobile phones and web financial tracking applications that you can use to track your spending.

In Kenya, there are certain mobile apps that have been designed in such a way that individuals and businesses can monitor both their daily and monthly expenses. There are also apps that will give you details on where you spend your money, with whom, as well as give you added advantage such as saving calendars and programmes.

Take SpendTrack for example. This online platform will allow you to track your monthly expenses. It is subdivided into categories that allow you to examine your utilities, communication, domestic, entertainment and transport expenses.

It will also track your income; from investments, rent, dividends, salary and bonuses, as well as your general assets and liabilities.

When you set out to download personal finance mobile and web applications, it is recommended that you opt for trusted app builders. For example, when downloading apps on your phone, you can start with well-known app stores such as Google Play of Apple’s App Store.

This method will help you track and tame your expenses. To begin with, you need to identify what your expenses are.

You’ll then need to get physical envelopes, and label each with an expense. For example, you can label the envelopes as entertainment, clothing and shoes, utilities or transport. You will then put money in each envelope according to the specific amount the expenditure written on the envelope will consume.

For example, you can put Sh5,000 in the groceries envelope and Sh6,000 in the utility bills envelope.

“Your spending will stop once an envelope for a particular item runs empty. This will ensure that your money tracks itself throughout the month,” says Kimani.

source:Saturday Nation

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‘Cigarettes are my greatest addiction’ Shouts Kamene Goro

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Media personality Kamene Goro has revealed that one of her biggest bedroom fetish’ is being bitten. According to the damsel, bites are a turn on.

Speaking during a session with Xtian Dela Kamene reveals

I like to be bitte

Kamene Goro
The curvy presenter spoke about various issues occurring in Kenya

Asked on what her current addiction is Kamene reveals

My current addiction is cigarettes.

Kamene went on to share that her worst bedroom experience was being given under 7 strokes.

Kibe could not understand how that could happen to such a damsel.

Ati seven strokes? kwani are you a chicken or what?

There are no men who are like that. Such guys should be tied to a pole and whipped.

By Mpasho

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American bride ‘undergoes FGM’ in Pokot traditional wedding – VIDEO

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An American missionary living in Baringo County braved female genital mutilation in order to fulfill the marriage customs of the Pokot in her traditional wedding.

The American couple has lived among the Pokots for the last 10 years doing missionary work.

Trizah and Tony said they fell in love with the Pokot culture and decided to wed in adherence to the traditions.

Among the Pokots, the bride must undergo female genital mutilation as a rite of passage to adulthood, a condition the American couple readily agreed to.

The marriage ceremony took place in Paka Hills.

Trizah was given a Pokot name Cheigar.

“I am proud to be here and be a part of this. It’s a blessing for me to be able to do this and be accepted by these people” Tony told K24 TV in an interview.

Female genital mutilation was banned in Kenya eight years ago after the enactment of Female Genital Mutilation Act 2011.

Communities still practice the vice albeit in secrecy.

By nation.co.ke

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VIDEO: “Drunk” Kenyan in US faces up to 99 years in Prison ‘after killing man in wrong way vehicular homicide’

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A Kenya man faces up to 99 years in prison after he was charged with felony murder and intoxication assault on a peace officer.

Two Harris County Sheriff’s deputies were injured and the man they were taking to jail was killed when they were hit head-on by a wrong-way driver in west Harris County.

Investigators believe that wrong-way driver, who has been identified as 39-year-old Patrick Njogu, was drunk.

Authorities say Deputy C. Drake and Deputy P. Zelaya were going eastbound on the Westpark Tollway at Synott around 11:30 p.m. Sunday when Njogu slammed his Lexus into their patrol vehicle.

The deputies had left the scene of a major crash before that and were taking the 42-year-old prisoner in the backseat of the patrol unit to jail for allegedly being impaired.

Investigators spoke to the deputies who said they had little time to react. They believe Njogu was headed the wrong way on the road for more than a mile.

Sean Teare with the Harris County District Attorney’s Office says he has seen video of the collision.

“You can see the moment the two deputies go over the hill on the on-ramp as this defendant is basically exiting Westpark the wrong way,” Teare said.

Other drivers apparently called 911 in the moments before the crash, trying to warn authorities of the coming danger. The Harris County Toll Road Authority then located Njogu’s vehicle on camera but could not prevent the head-on collision.

Deputy Drake was driving, but he was unable to take evasive action.

“He had nowhere to go. It is an on-ramp, a one lane on-ramp. He was only able to see him for a split second before the head-on,” Teare explained.

Officials say everyone was wearing a seat belt, and they were all taken to Memorial Hermann Southwest Hospital. The prisoner died.

Deputy Drake had a broken foot, numerous bruises and cuts, and Deputy Zelaya suffered a concussion. Njogu was taken to the hospital with a broken leg.

Jeff Ehling

@JeffEhlingABC13

Two deputies are injured and a person in transport is killed after the deputy’s patrol car was struck by a wrong way driver on the Westpark tollway.

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Authorities say Njogu has five previous DWI arrests and three previous convictions in Illinois and Missouri.

Teare described Njogu as being highly intoxicated.

“He told the deputies or asked the deputies whether or not he was in the state of Missouri immediately after the crash,” Teare said.

Njogu had a Texas driver’s license.

According to the district attorney, as long as he had been adjudicated for the other convictions, there would be nothing that would prevent him from getting a Texas license.

-Agencies

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