Potential risks and consequences of defaulting on a loan in Kenya

Defaulting on a loan payment can have significant consequences for both the borrower and the lender. It can lead to financial problems for the borrower, damage their credit score, and potentially result in legal action being taken against them. In this report, we will explore the risks and consequences of defaulting on a loan payment …

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How to prepare a financial plan based on the current Kenyan economy

The Kenyan economy is currently going through a downturn that is touching on all aspects of Kenyan life. Inflation is touching double digits in 2022 and is expected to worsen before the year ends. When faced with uncertainty in the coming months one should prepare their finances to take advantage of every shilling that passes …

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Tips to Help You Start Saving For Memorable Holiday in 4 Months

As the year winds down, many of us look forward to the joyous holiday season. However, it can also be a financially demanding time. To make the most of your holiday without draining your bank account, it’s important to plan and save ahead. In this article, we will explore practical tips on how to save …

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Tips To Help You Survive The Soaring High Cost of Living in Kenya

5 SIMPLE Tips To Help You Survive The Soaring High Cost of Living in Kenya

Living in Kenya has become an expensive affair, especially with the rising costs of housing, transportation, and food. In 2023, it is expected that the cost of living will continue to increase. However, with the help of HelaPesa, you can navigate these rising costs and manage your finances effectively. The cost of living index in …

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Investing vs. Saving: Which one can help you achieve your financial freedom?

Investing vs. Saving: Which one can help you achieve your financial freedom? In today’s fast-paced world, financial stability is a top priority for many individuals. When it comes to managing our money, two key strategies often come to mind: investing and saving. Both methods aim to grow our wealth and secure our financial future, but …

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Why you should take a CHECK-OFF LOAN now if salaried

What comes to mind when you hear check-off loan? The first thing to understand about check-off loans is that they are a transaction between the company you work for, the financial institution that gives the loan, yourself (as an employee of the firm), and your income. If you need money quickly, a check-off loan is …

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loan Apps in Kenya

REVEALING The 5 Top Loan Apps in Kenya in 2023

Mobile money has revolutionized the lending landscape in Kenya, providing quick and convenient access to loans. With just a few taps on a mobile app, individuals can secure funds for various purposes, such as emergencies, business ventures, or personal expenses. These digital lenders leverage technology to streamline the loan application process, eliminating the need for …

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“I had 12 loan Apps” – TV host shares her experience borrowing money from digital lenders

According to a survey conducted by the Kenya National Bureau of Statistics, more than 80% of Kenya’s adult population uses mobile money providers, and digital loan services have become an increasingly important avenue for people to access credit, as many are unable to obtain loans from traditional providers such as banks. So, why do Kenyans …

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Rules To Consider While Lending Money To Family And Friends

5 IMPORTANT Rules To Consider While Lending Money To Family And Friends

When your relatives or friends are struggling financially, lending money to them can be a kind gesture. However, it can become troublesome if your efforts to assist result in conflicts or you encounter financial problems as a result. Truth is, we have all found ourselves in a situation where we could not say ‘no’ to …

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Helapesa Recommendation: Create a Saving culture from your pay slip

Creating a saving culture from one’s pay slip is essential for achieving financial stability and security. A saving culture is one where individuals make saving money a regular and consistent habit. A consistent habit of saving from the small you earn will help in building a good nest for rainy days. This can be accomplished …

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Saving Challenge 2023: How you can save money in the new year

Are you tired of watching your hard-earned money slip through your fingers each month? Then I think it’s time to take control of your finances and start saving. I understand that saving money can be challenging, but it is an essential skill to have to secure your financial future. This is especially so if you …

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How to improve your credit rating in 2023

Having a good credit score is important for a variety of reasons, including making it easier to obtain loans and credit cards, qualifying for lower interest rates, and potentially even increasing your employment prospects. In Kenya, credit scores are used by financial institutions and other lenders to assess an individual’s creditworthiness, so it is important …

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Hela Pesa Survival Guide: How to stop wasteful spending

Wasteful spending can be a major drain on your finances, leaving you with less money to save or spend on things that truly matter. It’s easy to rationalize unnecessary purchases, telling ourselves that we deserve to treat ourselves or that we need a certain item to be happy. However, this kind of thinking can quickly …

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