In the past couple of months, given the recent depreciation of the Malawi Kwacha, I have had followers of my column asking me to explain what the difference between depreciation and devaluation is and how the two affect personal finances. For a while, I have been dodging this subject because I have been considering it…

The other day an ardent follower of this column wrote me narrating how she had kept track of her huge expenses on photos that are normally taken by professional photographers during events such as conferences, weddings and other such large gatherings. As many of you will agree with her, most of the photographers will not…

It sounds so simple, doesn’t it? Yet, there are many of us burying ourselves in debt (spending more than we earn) or living purely paycheck to paycheck (spending all that we earn). Simply spending less than you earn has a cascade of positive effects. First, if you are coming from an indebted background, you begin…

The other Friday last year, a friend gave me a lift. A picture on his car’s dashboard caught my attention. He had a picture of a beautiful house plan. Last time there was a picture of his wife. I just thought to myself “anzangawa ukwati wawo siukuyenda, zikukhala ngati zasokonekera” (my friend must be having…

Even though I write a lot about personal finance here and elsewhere, I still have a lot of my own fears about personal finance. I think this is actually a pretty normal thing for most people. We all have areas where we’re less than confident and we all have areas that concern us about the…

The times are particularly hard for many people this year. This is partly due to inflationary pressures that have built up especially now that Christmas and New Year festivities are approaching. This, coupled with the depreciating Malawi Kwacha, it seems the road ahead will remain bumpy for a considerable period of time. So what does…

In a prefight scene from one of the ‘Rocky’ movies, Sylvester Stallone’s Rocky character looks into the unblinking eyes of his opponent, Mr. T, who, after a long silence and menacing glare, sums up in one word what he would shortly bring to Rocky: ‘pain!’  Admittedly, all my primary school days, I only knew the…

Having a surplus from a salary earned in Malawi is a big achievement. Admittedly, sometimes it’s all about how disciplined we are at spending on necessities versus non essentials. But occasionally, all of us do have a surplus that we sometimes wish to invest. One option would be to turn to the stock market. However,…

In business or retirement planning, creating an inventory of your assets is very critical. It helps you determine the resource gap that has to be filled before you make the decision to venture into more business or retire. This week, we take a look at how to create an organised inventory of your assets and…

It sounds so simple, doesn’t it? Yet there are many of us burying ourselves in debt (spending more than we earn) or living purely paycheck to paycheck (spending all that we earn). Simply spending less than you earn has a cascade of positive effects. First, if you are coming from an indebted background, you begin…

Last year, I had the privilege to visit the golden city, Johannesburg. With all of the city’s grandeur, what impressed me most was the wisdom of one taxi driver, Prince, who took us back to Oliver Tambo Airport on our way back to Malawi. This man had this Venture car which looked impressive compared to…

Last year, I had the privilege to visit the golden city, Johannesburg. With all of the city’s grandeur, what impressed me most was the wisdom of one taxi driver, Prince, who took us back to Oliver Tambo Airport on our way back to Malawi. This man had this Venture car which looked impressive compared to…

A couple of years ago, on a late Monday afternoon, I was so tired and all I wanted was a hot shower followed by a good movie. So, I decided to go home a bit earlier than usual. I took to the steering wheel heading home. But I should have guessed better, there was no…

The golden principle for a happy financial life has always remained unchanged for centuries: spend less than you earn and then all peace of mind shall be added unto you. Sounds so simple and yet requires a lot of discipline. The bottom line is that you can do it, but you have to make that…

If there is ever one article that has  attracted the most feedback in all my column’s life, then Chimbala which came  out end of September 2010 tops the list. I am yet to find out why but it keeps  on attracting so much ‘core’ calls. This time I reproduce the article  dedicating it to my…

Even though I write a lot about personal finance here and elsewhere, I still have a lot of fears about personal finance. I think this is actually a pretty normal thing for most people. We all have areas where we’re less than confident and we all have areas that concern us about the future. Fortunately…

The hardest part about changing your spending habits is simply getting started. You see, it’s interesting to observe how one lives a frugal life when they don’t have much money but somehow all the spending gates open when you get your salary or any windfall money. One lesson is that you can live a happy…

In many of the speaking engagements I have had with organisations or during wedding send-offs, one of the most common themes I get requested to talk on is the financial roles that exist in relationships. There are a few key elements that really form a strong foundation of how people in relationships should think about…

Not long ago, something happened that made me write today. Some expatriate was going back to their country and was selling their irrigation pump at a very give away price. Unfortunately, I had all my money locked-up in assets that could not immediately be sold off (illiquid assets). I had lost out on this great…

Not long ago, I went out with my two boys for a month-end treat. The boys love pizza so much. But being the economist that I am, I decided I would only buy pizza once a fortnight or once a month depending on how they behave. Luckily, my wife has now found a pizza recipe…