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  • Tactics to Saving Fuel this Festive Season

    Tactics to Saving Fuel this Festive Season

    Oil is the opium of the world. The dose that keeps the world patient while it’s being overloaded with climate change, extremism, poverty, and every other manner of garbage. The world is addicted to it and I doubt if there is any detox program to wean itself off. To put it into perspective, the world consumed close to 99.4 million barrels of oil per day this year. This addiction has made the House of Thani family of Qatar very rich, by the way. The family is worth close to $335 billion. Meaning that if they add nothing to their fortune and consume $1 billion a year, their fortune will run out in the year 2357. Yeah.

     Oil and its offsprings get us high, and we’re never coming down. But, being the good humans we are, moderation is our virtue, and although we love largesse, our conscious dictates we save here and there. This is why I bring you this post ladies and gentlemen. We are speeding into the festive season at sixty minutes per hour. The period when we spend and simultaneously strive to save. To reach my quota of goodness this year, I am going to offer some insights to help you save fuel this season. Ready? Let’s Go…

    Clean your filter and change your engine oil

    This is Saving Fuel 101. Want to save fuel? Service your vehicle.

    Saving fuel has never been this easy, but many people never bother. As a distinguished member of the Amateur Mechanics Association of Kenya, I bring you a special message from the automotive gods. Change or clean your filter regularly and you will save a lot of fuel. Don’t believe me? Well, try to keep up.

    Everything requires oxygen to burn, including the fuel in your engine. The work of an air filter is to, well, filter the air of dust and other debris from getting into your engine and damaging it. However, if it’s clogged, less air passes through and thus little of it enters the engine. From basic science, we know that air is made up of approximately 21% Oxygen. Less than a quarter. So the less air, the less oxygen available for burning your fuel. Your engine, on the other hand, has a fixed capacity and if less air is drawn into the cylinder per charge, it will gladly fill the remaining percentage with extra fuel. Resulting in a rich mixture. Since there is less air to burn that fuel, the oxygen will bind with whatever fuel it can burn and release the rest of the unburnt fuel as black smoke. Do this a few thousand times per minute and your vehicle turns into a fuelaholic. A guzzler. Consuming your fuel in a manner likely to suggest that it doesn’t like you. Which is terrible, especially if you intend to save on fuel.

    Oil, as you know, lubricates your engine. If you don’t change it regularly, it becomes heavy. Which in turn reduces its lubricating capability, making the engine strain to overcome the extra friction, making it work harder than necessary. And you know what happens to an engine when it works hard? No, it doesn’t get paid more, Ernesto. It consumes more fuel. Jeez!!!

    Reduce idling and unnecessary revving

    Idling is sometimes unavoidable in the modern world. And the more modern the world becomes, the more our vehicles will idle. This is a fact that won’t save you fuel, anyway. We spend more time at junctions, red lights, and traffic jams because the infrastructure grows slower than the rate we buy cars. On average, it’s estimated that we spend close to 3-4 hours every day on the commute. Keeping your car idling for even a third of that time will cost you about 0.64 liters of fuel. This is because, as the engine idles, it’s consuming fuel, doing no work. Wasteful. If you’ve to spend more time idling in traffic jams, the best strategy is to turn off your engine. This will help you save fuel because your engine will only run to drive your vehicle. Now that’s smart.

    Note: Don’t do this if your engine has a hard start. It will embarrass you.

    Revving you’re your engine is the most wasteful thing you can do. Some motorists rev their engines after starting. Why? It’s pointless and adds nothing except waste fuel by unnecessarily straining the engine. The basic procedure is to start, idle, and drive. Unless your engine has a hard start, don’t rev it, especially if you’re trying to save fuel. However, if you’re not trying to save fuel, rev baby rev. 

    Avoid thrashing your engine

    If you have a heavy foot, go see a doctor. It might be a condition. But if seeing a doctor is not on your bucket list, then hear me out. Putting the pedal to the metal, the symptom of a heavy foot, will not:

    1. Make you go any faster
    2. Make you look any cooler
    3. Save you any fuel

    Unless you have an electric car, which I know you don’t desist from smashing the pedal to the floor. This is because your car weighs at least a ton, and therefore will need to overcome its inertia before picking up any discernible speed. Suddenly stomping on your accelerator, as you move, opens the throttle body wide allowing maximum fuel into the engine with little work. All this just wastes your fuel.

    This also goes for your driving. Unless you’re a getaway driver in a robbery, it makes little sense to make your engine scream. Learn to operate your engine at optimum rpm to suit your driving. This will not only help save you unnecessary visits to the mechanic, but it will also go a long way in helping you save on fuel.

    Walk

    No brainer. The best way to save fuel is to not use your car. 

    Get a Prius

    This is my favorite. If you have some 3 Million shillings lying about that you have no use for, get yourself a Toyota Prius. This move will save you some crazy amounts of fuel. According to Toyota, the Prius returns about 56 mpg combined. For every 100 km traveled, a Toyota Prius will use an average of 4.2 liters of petrol. A Premio returns 8.3 liters per 100 km. If you were to travel from Mombasa to Kisumu, a distance of about 825.5 km, assuming every other thing is held constant except fuel, the journey will cost you about 6,000 shillings in a Prius. Yeah, I know, that’s 4000 more than an Ena Coach ticket. That’s, however, about 6,000 shillings less than what a Premio will consume in fuel. What’s more, you will finish the journey earlier as the Prius has 136 hp compared to a Premio’s modest 125 hp. Talk about being outclassed.

    Please Note;

    This is not an exhaustive list. It’s but a tip of a very long list. However, if you are to learn anything from the list, it’s that it doesn’t need to take drastic measures to save fuel (well, except the last one). Doing the above will save you a lot of money in the future. And as you speed along into the festive season, I wish you nothing but the best and happy fuel saving.

    Sorry, it’s me again. I couldn’t leave you without a call to action so, here goes nothing. Hela Pesa Salary Advance supports this post. Please head over to our website or download the Hela Pesa App for a quick Salary Advance this festive season.

  • 3 simple steps to manage and save your hard-earned salary

    3 simple steps to manage and save your hard-earned salary

    Let’s admit it. We’ve all been there. Every year, full of promise and steam, jazzed up on Rich Dad, Poor Dad, and Other Stories, we craft lofty New Year’s resolutions. We solemnly swear to keep promises that fizzle out and die way before the New Year starts to sit. In Resolution Land, we give prime real estate to savings and losing weight. We usually realize we haven’t saved and that we can’t fit into clothes only when the year ends. We feel bad for a couple of weeks, then, being the valiant warriors we are, we get up, dust ourselves, and…make new resolutions. And the cycle begins. But it need not be like that. Like everything in our lives, spending, saving, and losing weight are all governed by emotion, which, if you look closely, is just a bunch of habits. As William James once said, “All our lives are but a mass of habits”. It means that we can rid our toxic behaviour with enough effort. Habits can be changed, but it won’t happen in one fell swoop. Instead, we have to do our bit every day. Therefore, to save, we have to change our habits around money, specifically being conscious about how we spend money. To do our bit and change how we spend so we could save, we could:

    Establish a strict budget

    You need to understand that having a budget is necessary. You must establish the bounds within which your money spans and stick to it. This, however, is easier said than done. Having a budget is, to say the least, hard. Very hard. We are so used to impulse buying that even after we firmly establish a budget, we still overspend. Shopping becomes fun, whizzing around the aisles picking things willy-nilly and dropping them in our carts like they’re hot, budget be damned. News Flash folks, shopping should never be fun. If you are putting on makeup to go shopping, you’re in the wrong career. Consider changing it. This is particularly worse when we bring kids along, put them on the latest cart, and try to set a new speed record. This is not only bad for your self-esteem but also increasingly damaging to your wallet. Unless your adorable ‘Dadie’, is part of your shopping, it might be a good idea to leave them at home. And no, you won’t be a bad parent. Unless you’re leaving him home alone, in which case, yes, you are a bad parent.

    To not be over the budget, we need to have lists. Listing every purchase down, whilst it might be constrictive at first, is a great way to stick to your budget. It’s been psychologically proven that people who make lists stick to their plans and save money more than non-list people. Further, you could describe each item and why you need it, i.e., why it must be on your list. Justifying your purchases is a great way to stick to your list. This way, you only buy what you need, not what you want.

    Also, try to only use cash for your purchases. This way, you only use the money you set aside to buy whatever you need. To know how much you will require, try looking up prices online to get a good estimate of how much cash you need to carry, then increase it by about 20 per cent, in case prices get adjusted for inflation before you reach the supermarket.

    Put your finances in order

    You need to determine your financial priorities and set preferences, with decreasing importance. Once you do this, stick to it. Just like writing your list for your purchases, make a list of the important loans that you need to pay off first. Make a list of everything, including a list of what you should write in a list. Having a list saves you headaches and helps you pay off unnecessary debts and loans. Clearing that gives you a ballpark of how much money remains to budget with. This, of course, proceeds with the assumption that you still have money left. But if your debts are more than you earn, pay them first, then find a quiet place to scream your head off. Seriously. Just relieve the pressure. Here’s why.

    Debt is detrimental to your health. According to debt.org, the effects of debt include but are not limited to, low self-esteem, anxiety, and stress. It would help if you settled your debts, especially short-term debts that accrue considerable interest. Before you embark on saving money, you must save yourself. There’s nothing more valuable than your life. Period. Once you pay toxic debts, and find yourself not able to finance your needs, head over to the Hela Pesa website or download the app to access a salary advance.

    I know, I am contradicting myself here, but before you stone me, hear me out. One reason Hela Pesa’s salary advance will save your mental health is that unlike other loans with specific and strict repayment periods, Hela Pesa gives you the freedom to choose the duration you want to repay your loan from two months to two whole years. If you chose, let’s say, a year, then you have twelve solid months to structure your repayment worry-free. This way, you can pay off a little and still have money for your budget. What’s more, since deductions happen through a checking account, you won’t have to bite your tongue trying to do the math, leaving you plenty of time to focus on the important. So yeah, not so bad after all, ain’t it?

    Regulate your spending

    Yes. No question about it. Sinning is the biggest enemy of saving money. While I understand your need to sin, under the guise of winding off after a long day, etc., you need to moderate it. Excessive consumption of alcohol is not only harmful to your health but also gives you pocket leakage. And the sicker your pocket, the broker you are. This calls for strict rationing of the money you spend on your poisons or the amount of booze and cigarettes you consume. While it’s excessively hard to accomplish the former, the latter might work but it requires brutal honesty from you.

    One typical way to do this is to analyse carefully the amount of money you use, say, on a given weekend and on what. After this, strive to carry to the club, or wherever you go to poison yourself, only the necessary amount leaving the rest at home. This, of course, means leaving behind your cards and preferably your pin or clearing money in your mobile account.

    So there you have it, folks, saving money need not be as complex as sometimes it’s made. Cutting a little here and there will go a long way in reducing your overhead. You need not wait for the New Year’s Resolutions to save.

  • Hela Pesa Survival Guide: How to Survive the Coming Recession

    Hela Pesa Survival Guide: How to Survive the Coming Recession

    I have good news. And bad news. Then some more good news. The good news is that it won’t last a long time. Typically 2-10 months maximum. The bad news is that it is coming, but we’re not too sure about that because there’s divided opinion.

    Most experts believe it will land in the Year of our Lord 2023, others think we may narrowly miss it. Well, as the Americans say, the jury is out on that one. The last bit of good news is you can weather it. It is an artificial construct of humanity arising out of the need to control everything. A product of economic tectonics and therefore survivable, especially if you follow what I’m about to tell you

    If you didn’t read the title and wondered what I’m harping about, I’m talking about a recession. Although there is no agreed definition of a recession, Wikipedia defines it as a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, unemployment, industrial production, and wholesale retail sales. Wait.

    Before your eyes glaze over and your brain completely freezes, what I mean in simple terms is that tough times are looming and there will be very little money to go around. Your indulgences might not be fully satisfied.

    One of the precursors of a recession is, among others, two or more consecutive negative GDP growth values. The good ol’ U.S of A has registered two back-to-back negative GDP growth values, which to me, means its economy might be shrinking. And we know that, in this modern, digital, and interconnected world, when America sneezes…well, it might be a good time to queue for a PCR test.

    The outlook might be bleak but Hela Pesa Salary Advance has your back. I know, we are a loan company and we might have absolutely no business telling you how to survive a possible job loss. But before you throw the first stone, here is the writing on the ground. We are a customer-centric company and that means that above, all our relationship with you is of utmost importance to us. Your well-being comes first and profits a distant second.

    So… To survive a recession, you should:

    • Diversify your income
    • Learn a new skill
    • Stay cool and don’t panic

    1. Diversify your income

    Depending on a single source of income to cover everything you dream of is akin to being a one-legged man in a butt-kicking contest. Yes, you might be busy believing even that you’re working hard but all you are doing is wearing yourself down.

    This is the 21st century and hard work has been replaced by S.M.A.R.T work. Work hard and you will never rest a day in your life. Work S.M.A.R.T and you will never tire. One way of diversifying your income is to have a side hustle, if you already don’t have one, that is. A side hustle loosens some of the tightness your money might be feeling in a recession.

    Remember when I said Hela Pesa Salary Advance is customer-centric? We are giving you a Salary Advance so you can have the much-needed capital to start your side hustle. That’s how customer-centric we are. When everyone runs away from you, even firing you; we run to you, with open arms. Our Salary Advance Loan, unlike other conventional loans, allows you to set your repayment period for up to 24 months.

    Being the savvy side hustler you are, this gives you ample time to repay your loan and make a tidy profit. Click to apply on our website (link), or on our app for the Salary Advance Loan to start your survival run.

    2. Learn a new skill

    A side hustle, most likely powered by our Salary Advance Loan is a new skill. But, a side hustle is not the only new skill and frankly, if your natural habitat is the corporate world, then a new skill is a no-brainer. Learning a new skill will never grow old, or tired and will never go wrong. It is like…nothing I know about. If we’ll slip into a recession, you must get cranking and learn a new skill that will add to your already impressive resume.

    Learning a new skill improves your prospects for more money by increasing your income streams. Which is the whole point of wanting to survive a recession. To have more money. However, that won’t be the only benefit. Learning a new skill improves your personal development, especially if you use the 80/20 rule, as indeed.com calls it.

    A new skill, further upskills you, especially if it’s in line with what you do for a living. This way, if the other guys get laid off, you are retained because you have something that makes you unique. That’s the whole point of survival.

    3. Stay cool and don’t panic

    Average investors know two words around which they build their whole vocabulary: buy and sell. If you have invested in some stocks then you might want to learn a new word, hold. Panic buying, especially in times of a recession has killed more companies than you could count with all your digits.

    Average investors liquidate their stocks reinforced by the fears that the stocks they have invested in will lose value. Some of it might be true but most of it is not. You are a smart investor and something that separates the chaff from the grains is staying cool in the face of tribulation. Most businesses fold in times of a recession, but from an investor’s point of view, take your time and do not, and I mean, DO NOT go with the flow. If you want to survive, sometimes you have to go against the crowd however wise it is.

     This is a series of finance guides from Hela Pesa and our product, the Hela Pesa Salary Advance Loan. Although I did not put part one in the title, I put my belief that you will read the PS. So keep your eyes peeled for more of the finance guides because we are not customer-focused, we are customer-centric. 

  • What you need to know about Personal loan borrowing

    What you need to know about Personal loan borrowing

    Personal loans are short-term loans taken by a borrower and are usually repaid on a monthly basis. They are usually unsecured and don’t need collateral for them to be issued.

    Personal loans are normally for amounts from about 1,000 up to 100,000 with repayment terms from one to twenty-four months depending on the monthly charges you are willing to pay.

    The amount you can borrow and the interest rate you’ll be offered will depend on:

    1. Personal circumstances. An emergency loan is likely to have a higher interest than a loan you are willing to wait for a week or two to get.
    2. your credit history. Your ability to repay a loan is a big factor in how much a lender is willing to offer you. The interest rate is always higher if your loan repayment history is poor.

    When you take out a personal loan, the cash lump sum will be paid into your bank account. You’ll then repay it each month, plus interest, for the duration of the term. The lender and the bank might apply some fees to the final amount.

    Personal loans are often advertised with low headline rates that can make them look very cheap — but you could be offered a higher rate if the lender believes you are a risk bet. Make sure you get a quote from the lender before you apply to ensure you get the right interest rate that you are comfortable with.

    What to know before you start borrowing

    A personal loan is different from a secured loan

    With a secured loan, you’ll put something forward as security for the loan. This is usually your property. The lender can ultimately take possession of this asset if you don’t repay the loan.

    With a personal loan, you are not required to offer anything as security for the money.

    Personal loans also tend to be for shorter terms than unsecured loans, and for lower amounts.

    Personal loan cooling-off period

    When you take out a personal loan you have a 10-day cooling-off period from either the date the loan agreement is signed or when you receive a copy of the agreement, whichever is later.

    If you cancel during the cooling-off period, and you have already received the funds you have up to 30 days to repay the money in full.

    However, you’ll be charged interest for the period you had the credit. But any additional fees you paid might be refunded by the lender.

    Please note that the cool-off period does not mean you can walk out of the loan. It means within the first month you can decide to repay the loan fully without incurring any other cost outside of interest.

    Early repayment penalties on a personal loan

    You might be charged early repayment penalties on your personal loan if you:

    1. want to pay more off your loan each month than your set monthly payment
    2. want to pay off the entire loan before the end of the term

    Early repayment penalties normally amount to one or two months’ interest. However, some loan providers don’t charge early repayment penalties at all. If you think you might be able to pay off your loan early, you should borrow from one of these providers.

    Some personal loans have fixed rates

    Some loans have fixed interest rates. However, some personal loans have variable interest rates, meaning they can go up or down.

    If you want to know for sure how much you will need to repay each month you should opt for a loan with a fixed interest rate.

    The interest rates on a personal loan may vary depending on how much you want to borrow. This is called a ‘tiered interest rate’ system. Typically, you’ll be charged a higher interest rate for smaller loan amounts.

    When you apply for a personal loan, you might not get the representative loan rate advertised by the lender. This is because loans in Kenya are tied to the central bank rates that vary from month to month thus the rate will be adjusted accordingly.

    So you might be offered a loan with a higher interest rate than what was advertised. This could be the case also if the lender feels that you are a riskier borrower.

    Being rejected for a loan can make it harder to be accepted for credit by another lender. So, when one lender says no, they often all do. Moreover, it is important you check how much you are eligible to borrow before applying to avoid rejection.

    Personal loans and arrangement fees

    Some personal loans might have arrangement fees but the majority do not. This is a fee paid to the lender who helps you secure the loan.  Arrangement fees are mostly observed in large borrowing with a high-risk perception. This usually makes loans expensive and it is best you avoid any lender who requires arrangement fees before lending to you.

    Always shop around for the best deals

    You should compare interest rates and terms from different lenders. This will give you a good reference point for who has the best deal in town. Don’t be afraid to call the lender representative and get the right information from them. 

    Sometimes the rates advertised might change without the public knowledge and it’s best to confirm first before committing to a lender.

    The interest rate on a personal loan may vary depending on:

    1. how much you want to borrow
    2. your credit rating
    3. the term
    4. the loan provider

    The longer you have to pay back your personal loan, the lower your monthly payments will be. But a longer term means you’ll end up paying more interest overall.

    But, repaying your loan over a shorter time period means larger monthly payments. So, it’s important to work out what you can afford to pay each month.

    It’s important to check that you can afford to repay any loan you take out. If you fail to make repayments it can get you listed in the CRB which will lead to you being blacklisted from borrowing again from any other institution.

  • Our Mission to our clients

    The great-souled, Mr. Mohandas Karamchand, once said that the customer is THE most important visitor that a business can ever have. That the whole universe, and by extension, the existence and sustenance of any business, wholly depends on the customer. Without the customer, nothing in a business works, and nothing ever will. Thus it’s our mission to ensure we serve our clients diligently.

    We put you ahead of everything

    In offering our Salary Advance personal loan, we are competing with hundreds if not thousands of firms, and your belief in us means everything to us and is greater than anything we could ever dream of.

    It is a commitment and a rallying call to ensure that we’re at your beck and call to give you the very best that we can offer as a company. For most firms, dealing with customers involves shutting their eyes tightly and drawing deep breaths just to attend to your needs. To them, interacting with you is nothing but obligatory. Something to be done and get over with.

    We, however, believe that it should and, by extension, must be different. For us, this is not an expense but a lofty opportunity to beef up, shore, and uphold a commitment that is integral to our core values and aspirations. Serving you makes us happy. We are willing to do it over and over again because Hela Pesa believes that the real heroes are you, the customer. We, therefore, would like to maintain a relationship with you that goes beyond the Salary Advance Loan.

    We want a relationship that lasts forever because without you, we would not be here and we wouldn’t have our exemplary service team to be at your service.

    Salary Advance is a niche that is almost if not already, flooded by firms and we are cognisant of that fact. We understand that any customer who agrees to do business with us is worth, many times over, their weight in gold.

    As the good professor Theodore Levitt once weighed in, the true purpose of a business is to create and keep a customer, not to make money. Money must come a distant second to how a business must treat its customers. This is because the largest revenue driver in any business is a function of the treatment of its clientele. We believe in the need to put you far beyond and above anything in the firm.

    We believe you are a hero

    In providing you, the customer, with a Salary Advance Personal Loan, we are not merely providing you a loan. Rather, what we are building with you is a relationship. We understand the implications of loaning. When borrowing, one is left somewhat with a feeling of vulnerability.

    We’re here to tell you, though, that that is not the way we view you at all. We feel and believe that we’re building and nurturing a meaningful relationship with you. When you access your Salary Advance Personal Loan, you are a hero, making decisions that will secure your future and those who believe in you.

    In this respect, we aspire not to be merely a vendor of Salary Advance Loans, but instead a partner. We are your partners and we hope and bet on everything that we have that this partnership and friendship will last a lifetime. Vendors sell…things, but partners are with you for life.

    Through the bad and the good, the beautiful and the ugly, the sweetest and the bitterest. Through all of these, a true partner will always be by your side to see you through all events, both in space and time. We want to be this to you.

    We want to be a partner who understands and empathizes, and when the rubber hits the road, there to provide you with a loan to refuel your journey. Our Salary Advance personal loan is an extension of that partnership.

    This partnership with us is something that we could never begin to ever quantify, monetary or otherwise but one that we feel looming large every day, but in a good way, offering comfort and further acting like guidance and beacon to ensure that we offer you the best Salary Advance terms that could ever be offered in the market. In our day-to-day journey, we want to be always there when you need us, providing financial help when you need it.

    One that is like a pillar of cloud by day and a pillar of fire by night, guiding and showing the way ensuring that we not only serve you better but also be loyal to you just as you have been loyal to us.

    You are always important to us

    That is why we are more than happy to go out of our way to build, nurture and maintain relationships that are of massive advantage to both of us. The improvement and refinement of our customer service experience are one of such ways we use to nurture the relationship. We believe we are here to ensure that your life runs as smoothly as possible and that means that promptly resolving your issues surrounding the Salary Advance personal loan adheres to this mindset.

    We believe, and very strongly for that matter, that you, the customer, are not just an important aspect of our business but the only aspect of our business. You are the sole viewport through which we view our business landscape. Without you, we would be nothing but a blind entity. We believe you are our lifeline. The only thing that is keeping us alive and we would also wish more than anything to celebrate you and the trust that you have put in us. We are honored.

    As you head to our website or our app for your Salary Advance Personal Loan, we raise a toast to you and tell you, Asante! for being there for and with us, for believing in us enough to take this financial journey with us.

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

    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 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 through their pocket. This can be achieved through a well-thought-out financial plan.

    What is a personal financial plan?

    A financial plan is a written document showing one’s current financial situation, financial goals, and how to achieve those goals. It puts into perspective the current cash flow from income. Everyone has an idea of what they expect to get from their earnings but few articulate a step-by-step roadmap on how to achieve their goals with their current and future earnings. 

    It is the job of a financial plan to give guidelines on how to fit your goals into your current and future income.

    Also read: 6 Factors that Affect Loan interest rate in Kenya

    What are the main components of a personal financial plan based on the Kenyan economy?

    A good financial plan needs to be a simple document you can understand and follow easily and accurately. There are some components that each personal financial plan must have. This includes: 

    Financial Goals

    A good financial plan should show what you expect from your money. These are the realistic goals you have set for yourself and how much they are likely to cost you to achieve them. The financial goals should have a rough estimate of how long you expect to accomplish this goal. This will push you to be more proactive in accomplishing them.

    Financial goals should be realistic and reflect the current trajectory of your income. Financial goals that don’t take into account earning potential are likely to fail due to the burden they will cause on your income cash flow.

    Keep them simple and realistic and you will be far more likely to accomplish them within the set timeframe.

    Statement of your Networth

    This is an audit of what you own currently. You need to evaluate the net worth of all your assets. To determine the worthiness of an asset you have to calculate the current market price of that item. If you found a willing buyer for the asset how much will you sell it for? 

    To get a statement of net worth you first have to take a full inventory of all your assets and write them down.

    Next research the current market value of your fixed assets. This is not difficult since you will need to find a current sale of the same and compare the two. 

    Finally, determine the value of your intangible assets. Be careful to ensure you don’t undervalue intangible assets due to the lack of a standardized valuation method for them.

    Now that you have the value of your assets, write down all the sources of all your income and get a monthly average if it varies from time to time. Next, take account of all your debts write them down and total them.

    At this point, we can get the total value of our net worth by subtracting the net debt from the total assets. If the process is too tedious for you you can use online net worth calculators.

    Earnings

    Like any other business that has an income, a person’s earnings are no different. You might have more than one source of income and it’s important to understand how much they bring on average each month. It will give a clear picture of where you stand financially. Income includes:

    • Salary
    • Dividends from stocks and business profits
    • Life insurance

    Once you have your list you need to calculate the net income. This is the total amount earned in a specific period minus interest, taxes, and expenses. If you had any asset sold within the same period you should include it in the analysis since this is part of your income.

    Before starting to make the financial plan you must understand why you are making it. It is often an overlooked aspect of financial planning that few seem to take into account.

    Also Read: 7 things you need to know about Fixed Deposit Accounts in Kenya

    Understanding why money is important to you 

    Before I start rattling strategies like an overzealous sales rep I would like to pose this question to you, why is money important to you? I know this might seem like a very obvious question after all poverty is the enemy. Rather, it is the way the question is answered that made me bring it up.

    When asked this question most people will give you an offhand answer like freedom or escape poverty. 

    This is not enough since it does not give a specific problem you are trying to solve. Let’s be honest, a financial plan is aimed at solving a problem. I believe the more specific and honest you are with the end point of the plan the better you will be at executing it.

    Money is an instrument. On its own, it has no use till you exchange it for the item or service you need. You don’t pay for a tool unless you have a specific use for it. Moreover, we can have the same tool but apply it to different uses. This is why your financial plan can never be the same as mine even though we are using the same tool to try to execute it.

    A financial plan with a well-defined why will ensure that you use the tool to solve the problem it was intended for. It will translate to keeping yourself disciplined to follow through with what you have planned. 

    Discipline is a major factor in achieving the ambitious goals you set for yourself in the financial plan. Why not make it easier for yourself by having a well-articulated reason that will act as your guardrail when you feel overwhelmed with the execution plan? Keep this in mind when you try to answer this question.

  • M-Pesa and Hela Pesa Salary Advance: A Smooth Sailing in 2024

    M-Pesa and Hela Pesa Salary Advance: A Smooth Sailing in 2024

    There is a man whose picture is in money. He has half-hippie hair and a ghost smile that makes you think he learned to knit using a walking stick. One day, this man wrote. And said, that the only two things certain in life are death and taxes. He should have added M-Pesa. That old phone logo with the red note in it and the catchy ting ting tone should be the tenth Wonder of the World. Over the years, those old enough have watched M-Pesa grow from a novelty and potentially crazy idea to a great enabler, gracing almost 90% of all financial transactions in Kenya. It has embedded itself into our lives so much that for every two thoughts running through a Kenyan mind, the third must be M-Pesa. It has made life simple, and without it, our commerce would be dry, unlubricated, and possibly painful.

    M-Pesa has changed how people interact with money and as a result, has taken millions out of abject poverty. One way in which M-Pesa has made life easier is that it has brought banking to the palms of the masses. People who could never have access to conventional banking either because they are too far away or banks just don’t like them for some weird financial reasons. It is an iconoclast. It is revolutionary, challenging the status quo and winning big. In this respect, it shares elements with another product that looks to challenge conventional beliefs: Hela Pesa Salary Advance Loan.

    A loan fills the void between human wants, which are almost infinite, and resources, which are very finite. Many quarters have criticized loans and those who use them as short-sighted folks who only think of satiating the immediate. What they fail to understand is that loans offer you on-the-spot solutions that most financial products only dream of. If used properly, loans can offset some of the uncertainties and worries that form the makeup of life. Most loan companies do not understand this.

     You see, conventional loaning requires that you have very complicated relationships with banks. These are frustrating and unrewarding. Hela Pesa understands this and we have worked to give you a seamless way to grow your life without worrying about relationships. After all, most of them are toxic.

    How Hela Pesa Salary Advance is Different

    Hela Pesa Salary Advance Loan strives to be ahead of the pack when it comes to providing a Salary Advance. But we want you to be the engine of that growth. When serving you, we do not just want to be customer-focused. We want to be customer-centric. That is why we are proud that you chose us.

    A Salary loan in Kenya

    A combination of Hela Pesa Salary Advance and M-Pesa makes you legit. These offer you two of the most versatile financial products that are:

    1. Flexible
    2. Affordable
    3. Convenient
    4. Credible.

    Here is why:

    Flexible

    Flexibility is embedded in our core language. You live a fast-paced life, juggling many things at once, and we’re here to subtract your stresses. From needing a loan to taking action and finally getting money into your phone. You do not need to waste any part of your life filling in long forms. Just apply on the app, or our website and within no moment your money will be in your phone. All thanks to M-Pesa and Hela Pesa Salary Advance.

    Affordable

    Most loans come with strings attached. You don’t need that in your life right now. You don’t need to save to borrow. If you had money to save, you wouldn’t need to borrow anyway. All through the application process, from the Hela Pesa Salary Advance Loan App or website that you apply on, to M-Pesa where you receive your money, it is FREE. You don’t pay a single cent.

    Convenient and Credible

    The hardest thing that we know might give you sleepless nights is repayment. But worry not, we understand. That’s why we respectfully deduct it from your checking account. We believe that you are important and for this reason, we would not wish to bother you with trivial phone calls. Further, deducting straight from your checking account ensures that, your credit score is not damaged. Something as trivial as forgetting to make a payment shouldn’t hurt your credit. This makes it convenient for you, in case you want to borrow again, either as a brand-new loan or as a top-up.

    That’s not all…

    From your phone, you can:

    • Pay for your assets
    • Obtain Start-up capital
    • Manage your budget
    • Respond to emergencies
    • Fund your wedding and anything else you can think of.

    Why Choose Hela Pesa

    Hela Pesa Salary Advance Loan is a product that is designed with you in mind. We know that you deserve better. Much better than the dog and pony show that banks put you through to access money that you will pay back anyway. This is the MAJOR reason why you have to make up your mind and put two of the most revolutionary products in your hands. M-Pesa and  Hela Pesa Salary Advance Loan. These two in your hands give you nothing but a big fat peace of mind. On one hand, you can handle all your banking on your phone and never have to hear “Ticket number…counter number 2”, ever again in your life. On the other, you could access your Salary Advance from anywhere straight into your phone without the need to form meaningless relationships. That is what Hela Pesa’s Salary and M-Pesa give you. How cool is that!

    Life is fast, and because of that, you need quick solutions that can cater to your needs quickly and quietly. When you need a Salary Advance, you need service that is not only quick but also versatile, adaptable, and inclusive. Hela Pesa Salary Advance offers that and more. We offer simple but safe and secure loans right there in the palm of your hand. So make the decision today, by registering on our website or App. We promise you will never regret it.

  • Instant loan app and easy credit in Kenya in 2026

    Instant loan app and easy credit in Kenya in 2026

    Loan apps are a new phenomenon resulting from the rise of mobile banking. Before mobile banking took root in Kenya, instant loans were unavailable in the financial markets. The only means to any loan was through a bank or a FOSA-affiliated organization. 

    Few banks could approve a loan application within a day. Quite on the contrary, it took months to get simple loan approval even with solid security to back you up. 

    All this changed with the introduction of mobile banking and the rise of smartphones in Kenya. Increasing access across the entire Country in the past decade has opened up access to cheap credit for personnel and SMEs in the country.

    A loan app

    A loan app is simply an application that enables the borrower to access cheap credit without having to visit a physical branch. 

    It streamlines the application process and reduces the amount of paperwork being done by the creditors.

    Mobile applications emanate from the computer’s application which runs on memory and data. It’s these characteristics that make them appealing to both lenders and borrowers. 

    You apply once and your application data is stored to be used again when you want another loan. No need to restart the application again

    Hela Pesa’s salary advance loan app works on the same principles. Once you have made an application and you have been approved, you can apply for multiple loans without any need to verify with us first. We are a purely digital product.

    Secured vs Unsecured loans

    Loans can be broadly divided into secured and unsecured loans. A secured personal loan is usually securitized; this means it is backed by collateral- the creditor can take something from the borrower if they fail to pay the loan under the agreed terms.

    Some examples of secured loans include mortgages, motor vehicle loans, and business loans.

    An unsecured loan does not require any collateral for the borrower to qualify. Further, should the borrower fail to pay, they are likely to have a bad credit score, which reduces their borrowing limit with the creditor.

    Some unsecured loans include instalment loans, revolving loans, student loans, and check-off loans.

    Differences between secured and unsecured loans

    There are three main differences between secured and unsecured loans:

    How the loan will be used

    Unsecured loans don’t come with a pre-defined usage of capital. Most will be happy to give you a loan for anything you wish to spend on it. As long as it is nothing illegal, you are free to spend the money however you wish.

    Lenders of secured loans on the other hand will approve the loan for specific use like a mortgage to buy a house. If the money is diverted to other uses, the lender is likely to take the borrower to court for changing the terms of their borrowing agreement. With this type of loan, your option is limited to the specifications set by the lender.

    Borrowing limitations

    Due to the higher scrutiny from relevant authorities, secured loans have higher borrowing limits. This gives the borrower access to more money, but with a lot of strings attached. Unsecured loans on the other hand have lower borrowing limits since they are offered on the premise of quick borrowing and quicker repayment plans.

    Collateral

    The main difference between unsecured and secured is securitization. With a secured loan, the borrower gives the creditor the right to seize an asset if the loan is not repaid on the agreed terms. With an unsecured loan, no assets are involved, with the creditor relying on the credit score to assess a borrower’s ability to pay.

     Hela Pesa Core Clients

    Hela Pesa instant loan app offers unsecured loans. Moreover, our loans are targeted at government employees and we use the check-off system to give borrowers easy credit on a short-term basis of fewer than 12 months.

    Our MoU covers 10 Counties and over 25 national government institutions. 

    Counties Hela Pesa serves include

    • Nairobi County
    • Machakos County
    • Kitui County
    • Makueni County
    • Nakuru County
    • Kericho County
    • Nyandarua County
    • Kisumu County
    • Kajiado County
    • Narok County

    More counties will be added as we expand countrywide. We serve national government institutions. Some of these include;

    • National police service
    • Kenya Prisons
    • Non-Uniformed armed forces personnel
    • Teachers service commission 
    • All National government ministries
    • Directorate of Criminal Investigation
    • Kenyatta National Hospital
    • Directorate of Public Prosecution
    • Office of the President
    • Office of the Deputy President

    How to Apply for Hela Pesa Instant Loan

    If you are a government employee looking to apply for Hela Pesa Instant Loan there are two ways to go about it.

    Use the online loan application form. Just visit our registration form. Fill in the details and send. We will get back to you within five hours of starting your application. Once your application has been approved, you can put in a request for the amount you wish to borrow and it will be disbursed to your mobile phone.

    The following are the details you will need to make a formal application;

    1. Email
    2. Your full name
    3. Mpesa registered phone number
    4. Your Government payroll number
    5. The county or national government institution you work for

    Second, you can head over to the play store and search for Helapesa and download our app. The information you will use to sign up is the same as the one above.

    The Approval Process in Hela Pesa Loan App

    Once you have made the application, the approval of your registration wont take more than 12 hours depending on the institution you work for. The approval process will be determined by how your employer has set up the check-off system with us. Some require more due diligence than others, this is usually what causes delays during the application approval process. 

    Once approved your loan request will be approved in less than one hour. The loan will be disbursed to the Mpesa registered number that you provided to us. Currently, we don’t offer disbursement to banks due to various regulations concerning user data privacy.

    Conclusion

    Hela Pesa is a Loan app that offers instant loans to its approved clients. It loans are unsecured and aimed specifically at government employees in the Kenya market. If you wish to apply you can use the online loan application form or the App you can download from the google play store.

  • Salary advance loan in Kenya

    Salary advance loan in Kenya

    A salary advance loan or simply a salary loan is a short-term loan extended to salaried professionals working in the private or government sector. 

    In general, most loans are pegged on a security that is used to collateralize the amount given out. A salary loan uses the monthly salary of the applicant as both a guarantee and the loan limit you can borrow in a given period.

    Consequently, most salary loans are very short-term. They have a month or less as a payment period and depend on the payment cycle of your employment contract. This can be between a week to a full month.

    Requirements to be eligible for a salary loan

    A salary loan is unsecured, thus the lender does not require any form of collateral from the borrowers. 

    The lender will base their lending decision on the borrower’s salary cap during the period of borrowing. This way the borrower just needs a payslip depending on the lender’s stipulated work period. For example, some lenders require one to have been employed for at least six months before they can borrow on their salary.

    In addition, a company must have a contract or memorandum of understanding (MoU) with the lender before they can issue loans to their employees. 

    It’s always good to check which lenders your company has a contract with to set up a check-off account.

    The check-off system

    A check-off system is an arrangement by which loan repayments are deducted from the wages of the employee and turned over to the creditor of the loan. 

    The check-off system was first adopted by unions to collect their members’ contributions. It worked so well now it has been adopted by various organizations including financial institutions.

    How does a Check-off loan work?

    For a check-off loan to work, first, a financial institution has to have a signed MoU with the employee’s organization. 

    The MoU will allow the organization to collect the loan repayments on behalf of the financial institution through automatic payroll deduction on terms negotiated and signed under the contract.

    In the past, an employee needed to write an authorization letter to his/her employer before being allowed to borrow using a check-off system. But modern technology with the advancement of mobile banking has allowed instant application and approval without the need for permits from an employer. 

    This has supercharged the uptake of salary loans in Kenya over the last 15 years, with the introduction of Mpesa.

    Benefits of a salary loan

    A salary loan can be a great asset when used well. Here are some of its benefits for a salaried profession in Kenya;

    They are unsecured 

    Salary loans are unsecured. This means the lender does not require any security for the loan they issue. Consequently, the loan creditor will base their lending limits on the gross monthly or weekly salary depending on the employee’s pay cycle.

    If an employee resigns with an outstanding loan, the employee will use their back pay as a defaulting measure to repay the loan. 

    This ensures that both the employee and employer are not liable for the loan in case of a default.

    Employees can access emergency funds 

    Check-off loans offer flexible terms thus it’s easier and quicker to access them during an emergency. The quickness in approval of salary advances makes them ideal for use during an emergency. At Hela Pesa, we can approve your loan within 24 hours and disburse your money to Mpesa before the end of the day.

    If it’s a loan top-up, it will be done in less than 5 hours of any given day from the time you apply for it.

    Quick access and disbursement

    Accessing funds quickly is a determinant of how good your lender is. Due to the way salary loans are set up, accessing funds after application should be quick and effortless with the modern banking infrastructure. 

    Mobile banking solutions like Mpesa have made the process more seamless and devoid of bureaucracy that perverts more old-school secured loans.

    Further, a lender with a streamlined application process can process your loan in a matter of hours when all the pre-requirements have been fulfilled. Disbursement is instantaneous with mobile banking.

    Salary based assessment

    Everybody has their abilities and what they are capable of. Salary loans offer one the ability to decide exactly how much they can borrow without red tailing their payslip. 

    By deciding how much of their salary they can commit to a loan, an employee can manage their cash flow better.

    The financial lender can also have an easier time if they are lending to a payslip that is not overloaded with other deductions.

    The largest drawback of a salary loan comes from its greatest strength, it is based on your salary. How much you earn sets the limit on how much you can borrow. 

    Precisely because of this limit, a salary loan is best suited for small, short-term goals that can be repaid within a window of 12 months

    Who is eligible to offer you a salary loan advance

    In Kenya, any financial institution can offer you a salary loan. But there are various differences in how they lend you. Hela Pesa focuses on salaried government employees. We don’t offer loans to private company employees. 

    This does not mean there are no players in the private space. Further from the truth, loan apps in Kenya take care of every sector you can think of so it is a matter of choosing your preferred financial partner.

    Should you choose Hela Pesa, please feel free to register here. We will have you up and running with our app within 24 hours so that you can start borrowing up to KSh 200,000. 

    Conclusion

    So in conclusion, a salary loan is backed by your payslip and is determined by how much you earn in a month or less. It is applicable to both government and non-government employees in Kenya. 

    With so many apps offering salary advances, the choice for Kenyans has increased ten folds and will get better with time. The options are many and you should not hesitate to check them out. In Hela Pesa, we assure you the best service in town and we are willing to die on this hill. 

  • Hela Pesa and the Salary Advance Revolution in Kenya

    Hela Pesa and the Salary Advance Revolution in Kenya

    There comes a time in a human’s life when it is inevitable that they will need help. Financial help to be exact. These are difficult times, especially for ordinary citizens with almost double-digit inflation rates and the price of basic commodities beyond the reach of millions of ordinary Kenyans. During these times, each one of us needs a reliable financial partner who has got your back and won’t turn you down when you need help the most.

    Hela Pesa Salary Advance

    It is in tandem with the above scenario that Hela Pesa Salary Advance personal loan lays its foundation. On the philosophy of a more accessible, reliable, and dignified way when it comes to the availability of credit. Hela Pesa believes that one needs to have a backup in times of crisis and, to be fair, there hasn’t been a crisis like this in a long time.

    Our Salary Advance personal loan boosts your confidence in giving you the power and the knowledge that the door won’t be slammed in your face at the moment of need, setting you apart from the crowd as it goes scrambling around madly, panicking and calling everybody in the phonebook ‘akuangushie kakitu utamsort mwezi ikiisha’.

    Instead, we assure you will always be there for you when the going gets tough, as it more often than not, does.  Instead of the panicked scrambling around, we envision a cool, calm, and collected way, sweat and hassle-free, and painless. We envision you sitting by your phone, tapping your phone calmly knowing that in the end, we will always come through.

    Personal Finance

    Although a Salary Advance is technically defined as a personal loan provided by financial institutions to salaried individuals in borrowing against future earnings, we believe that ours is far superior to what is in the market today. In most cases, this kind of advance is allowed only once on many platforms. However Hela Pesa, through our Salary Advance allows you to borrow multiple times as long as your credit eligibility is intact.

    When you repay your loan, Hela Pesa allows you the leeway to borrow and access our Salary Advance over and over again, ad infinitum. This means that you, as a customer are not restricted at all on the number of times you want to borrow, either as a top-up, or a brand-new loan.

    This, we believe, gives you massive flexibility in planning your finances whilst at the same time giving you the freedom of not being trapped in a vicious cycle of having to depend on your monthly salary alone in making your budgets.

    Also read: A Salary loan in Kenya

    Easy Application

    Hela Pesa is here to make sure that you minimize the number of hassles and headaches that you have to go through in planning your finances. Deep down, we are human and we understand that it’s quite hard, as goings go currently. That is why we are more than willing to be your partner to see you through these tough times. We strongly believe that with our Salary Advance, the possibilities become endless when it comes to spending your money.

    Our Salary Advance package is not restricted to only just emergencies as it has been viewed traditionally. You have the freedom to utilize this loan for any purpose that you feel is right. These include but are not limited to, Holiday and travel expenses, medical expenses, house repairs and renovation, school fees or even starting a side hustle. The list is endless with what you could do with it. The choice is yours.

    Hela Pesa Salary Advance is a personal loan and a salary advance all rolled into one. This gives you massive advantages as our client by offering you the best of both worlds when it comes to credit. One advantage of a personal loan is speed and ease of access to the loan and Hela Pesa is right up there with the best of them if not the best. From registration to application to approval and disbursement, we’ve streamlined the process to ensure that the money gets to your phone as fast as possible.

    We’re here to ensure that your life runs as smoothly as possible and our speed of access ensures that the anxiety and anguish that is more often associated with loan processing is reduced to the very minimum. Our relationship with you, as a client, is defined primarily by how fast we get you the money that you’ve applied for, and we promise that we won’t let you down.

    Ease of Use

    Further, as a personal loan, Hela Pesa ensures that your Salary Advance comes as a lump sum. This essentially means that whatever amount you’ve applied for comes in full. This gives you peace of mind and makes sure that we deliver on your dreams and aspirations as exactly as you envisioned them.

    This makes it easier to start that side hustle that you’ve always wanted to set yourself up financially or buy that dress you’ve always desired or buy her that gift that will bring your romance to its climax. Further, it gives you peace of mind, especially during emergencies, for example, medications that may require fast and lump sum payments. These can be all achieved by the salary advance and our Hela Pesa Salary Advance makes you sure-footed in the slippery road that is money.

    Hela Pesa Salary Advance requires no collateral as a requirement. Unlike traditional loans, our salary advance doesn’t require you to put up your assets to access it. Indeed, unlike other lenders who may also need you to bring in guarantors, Hela Pesa chooses deliberately not to go that route.

    We believe in our clients therefore putting them through hoops to provide credit is not our philosophy. We believe in a working relationship with our clients and an establishment of trust is one of the core ways of establishing that business relationship.

    As a salary advance, on the other hand, our product is thus guaranteed by your government employer. This essentially means that you do not have to go around talking people into backing you when you need a line of credit. For us, your employment says more than enough.

    Once we have an agreement with your employer, that is all the guarantee that we’ll ever need. This gives us an edge and ensures speed in processing your salary advance Accessing our Salary Advance, all you have to do as our client is to furnish us with your details, and voila! That is all it takes to access our products.

    Hela Pesa gives you flexibility and room to choose your credit terms. The amount that you wish to have, the amount of time that it will require you to repay it whether 2 or 24 months it is all in your hands. In further easing your life and especially in repaying your loan, Hela Pesa does all the grunt work for you and simply deducts the amount straight from your check-off account.

    This enables you to focus on the most important and valuable aspects of your life because, frankly, we think that keeping a loan repayment schedule constantly in your mind is not the best way to live your life to the fullest and thus should not be getting in the way of living your life. This, we believe is a win-win for both of us as it gives us both, and especially you, peace of mind. This way when your loan has been repaid, you can borrow again and again to meet your needs and achieve your goals.

    In line with being the best Salary Advance provider in Kenya, we offer a website where you can register for free. No upfront fees or membership fees are applicable. Further, we provide what we think is the best loan app for a Salary Advance loan in Kenya. The Hela Pesa Loan app gives you the ability and authority to take matters into your hands. In addition to application and disbursement, you can track the performance of your loan, schedule your repayments, apply for a top-up, and so much more.

    Part of being a good business partner involves excellent customer relations and that is one of the many fields in which we excel. We recognize that you, the customer are the most important cog in our business. We have therefore pulled all stops to ensure that our interaction with you brings you back again and again. We operate on all platforms, whether on the phone, via email, or via chat to ensure that all your questions are asked. We pride ourselves on being the best by ensuring that you get nothing but the best.