We are here for those who refuse to settle. Who never stop moving forward. Who continue to search for better experiences in everything they do.Because today’s hyper connected world deserves a financial partner just as progressive, one that adapts to your needs, gives you control and constantly pushes you into new exciting spaces. MOMBO’S simple loans, smart savings and great investment opportunities is the way to go.
Differences between Shares and Savings - Mombo Sacco. At Mombo Sacco we are all about transparency.
You will never have to wonder if your money is safe or secure. We value honesty Safety and transparency The shares purchased makes the member own a share capital to the SACCO which earns dividends annually when the firm declares. This one is according to the rates decided by the Sacco. Good to note is that in MOMBO, shares are not used to determine the amount one can borrow. Dividends depend on the profits made by the Sacco, therefore, the more the shares the more the dividends. 9 ways to earn passive income from home - Mombo Sacco.
Next, we have equities also known as share and stocks.
Investing in the national securities exchange market can assure you returns in terms of dividends earned every year. Investing in companies as shareholders mean you only attend their AGM, besides that, you don’t play any active roles in the day to day running of the company. At the end of the year, the annual dividend is calculated per share and you will be awarded for being a shareholder. The more you invest, the more you earn. However, the investment is high risk due to the rate of uncertainty in the securities exchange market. Investing in equities also means investing in government bills and bonds. TBills are short term investment options for 3 months (91 days), 6 months (182 days), and 12 months (364 days) with varied interest rates, usually between 8% and 12%. The best thing about these investments is that they are tax-free. How To Raise Financially Responsible Child - Mombo Sacco. Although I’m not actually endorsing handing off adult pressures on children (they have plenty of time for that later!)
, I think it’s wise to speak to our children about how we’re budgeting throughout the month. The more we think about issues like planning for retirement and paying bills before we spend all that money we earn on non-essentials, the more we have the chance to give our children a reasonable understanding of the costs of living. How to stop bad spending habits - Mombo Sacco. Each of us tends to be very conscious of our vices.
We know the things that we do that can let us and the people around us down and even if we happen to be oblivious sometimes, we are fortunate enough to have individuals willing to knock some sense into us. Being able to point out things about ourselves that may be counterproductive towards cultivating a healthy spending lifestyle may seem impossible but here are a few ways you can go about it; i.) When you venture into a mall and see that ‘On Sale at Discounted prices’ board set up right in the middle of the entire space, almost like a devious devil trying to pull you in, you can’t help but rationalize that it’s a discounted price from the original and thus not such a bad deal but essentially, buying that product at 75% off when you hadn’t intended to purchase it in the first place is grounds for a massive blow on your funds for you will lack for the things you actually need.
A sale is not always a steal. Ii.) Iii.) The innovation that got us through 2020 - Mombo Sacco. 2020 will be remembered as the year where people depended on technology and innovation more than ever.
However, before the COVID-19 pandemic hit the world, MOMBO SACCO was already putting into use great innovative and technological solutions to not only help improve the customer experience, but to guard against risks and offer simple, convenient and secure financial solutions. One of the most significant tool for the SACCO that was registered in 2015 and is regulated under the Co-operative Societies Act (CAP 490), is its customer interface platform, the MOMBO digital app. Through this mobile application, members can view their savings balances in real time and borrow without the indignity of having to check with the SACCO’s management. The COVID-19 pandemic resulted in dramatic changes in key industries and workplaces, forcing many to stay, and for those who could, work from home. As the year draws to a close, the SACCO is awarding its top savers for the year. How to Make Money from Home - Mombo Sacco. For some people, this happens to be one of the most familiar methods seeing as many people venture down this route.
It is simply helping people complete their tasks, only it is fully online. If you happen to be organized, hardworking and a good time manager, then you should definitely consider this method. Various sites that offer this opportunity include: – Upwork, Remote.co, Indeed.com and so forth. Within these sites, you will be required to check out the posted jobs, find one that fits you and create a bid towards getting it which is essentially like selling yourself in a virtual interview. Having good communication skills, being fluent in English or multilingual, whichever fits you, and having experience in whatever field you’ve applied for are all definite ticks that will give you an even better chance of being conscripted to the job. Instant Mobile Loan App in Kenya - Mombo App.
Ways To Save Money During The Holidays - Mombo. The holidays are upon us; and as much as it is the most wonderful time of the year- our wallets tend to suffer the most during this time of the year. Families and friends expect gifts from us; we want to spend every last coin on yummy holiday treats; random plans keep popping up – and trcking your finances can become strenuous. It’s however important to be overly vigilant with your spending during this time. Here are ways you can save [instead of spend] during this holiday season. Budget, Budget, Budget; and Stick To it! It goes without saying, budgeting is one of the crucial steps to achieving financial freedom; and budgeting during the holidays should not be an exception.
Set aside money you need by calculating your income vs expenses, then define your holiday spending limit. Mombo Sacco Membership In Kenya. Mombo Brochure. Should I Pay Off My Debts Or Start Saving? Whether you’re always struggling to pay off those small cash loans, or just despairing at the thought of spending hours hunting for the best online savings account, you really need to find a better financial balance.
Instead of going to open a savings account with the biggest or nearest bank, carefully consider how to better manage your borrowings, loans and savings by reading this article! How Debt Cycles Get Out of Hand Not only do debt cycles cost you a lot of money and stress, but they also stop you from saving money for the future. Typically, there are 3 ways that a debt will grow from small cash loans. 1. The First digital Sacco in Kenya. Your credit history will always play a vital role in determing your borrowing. If you are looking to buy an asset in the not-too long distant future, one of the first key things you may like to work out is how much you can actually borrow.
By having a detailed idea of what you can borrow, you can make adequate adjustments and in the long run to avoid getting disappointed by your potential lender.
Best SACCOs in Kenya. Pro Tips to Help You Plan Right Financially - MOMBO. Mombo Mobile App - Easy Access to Investments, Loans, and Saving. Myths About Online Loans Debunked - Mombo. WAYS TO SAVE MONEY DURING THE HOLIDAYS - Mombo. Are You A Mombo Sacco Member? You Can Now Withdraw Your Interests For January 2019 - Mombo. Mombo Mobile App - Easy Access to Investments, Loans, and Saving. Ways to make your financial goals stick in 2019 - Mombo.
Investing 101! - Mombo. Intelligent Investing: What does it take to be a Smart Investor? One can earn money either by working and second by having the chattels work for you.You will require money your whole life, right.
But, in the older days, you can’t have a clone of yours to work that time. So, who will fulfill your monetary needs then? While a savings account can offer easy access and security of money but the returns can be modest. Therefore, the better option that can help you to save more money is investing. Investing can greatly help you to realize your long-term fiscal goals, whether it isyour retirement, early mortgage repay, or university fees of your children.Unlike savings, intelligent investing can significantly endow stronger returns over the long-term.A smart investor is one who earns maximum return on investment by choosing the right financial product,keeping the needs and goals in mind. Don’t Delay, Start Now Identify your Requirements Examine all your goals and needs and choose accordingly.
Gauge Risk Involved Invest on a Regular Basis Don’t Chase the Horde. Banks vs. SACCOs in Kenya: How to Make a Choice. Although banks and SACCOs in Kenya have a lot in common, they are unique in their rights.
It’s these differences that make people prefer one over the other. We take you through three major differences: technology, interest rates, and regulation. In the end, you should be able to make an informed decision, whether you’re planning to save, invest or borrow. Will Paying Off My Old/Bad Debts Raise My Credit Score? August 13, 2018 | BY MOMBO | Views: 64 If you are worried about the effect of old or bad debts on your credit, we are here to tell you that bad credit doesn't last forever! It will only take some improvement in your financial life to make the mistakes from your credit report completely disappear over time.
We know how much a debt collection can make it difficult to get new credit and loans. It can be the worst type of entries on a credit report. Now the question is, are you also having problems with your credit score due to the debt collection? Same Day Cash Loans – How Do They Work? Getting a same day cash loan could be the answer to all your money problems… or it could end you in serious financial difficulty if you’re not careful. It’s all about finding a reliable lender, using that cash wisely and repaying it sensibly! In this short article, we’re going to cover all that you could possibly need to know about same day cash loans, so you can manage money like a pro. What are same day cash loans? A same day cash loan is a loan that arrives in your bank account the same day that you apply for it. In other words, it’s an instant loan that deposits the money into your account without all the waiting, paper forms and interviews you’d face at the bank.
Need Funding for Business? Here's What to Know Before Applying for a Loan in Kenya - Mombo App. Advice for Millennials. 3 Reasons Why Savings Accounts are a Good form of Investing - Mombo App. 3 Reasons Why Savings Accounts are a Good form of Investing - Mombo App. Tips on Choosing the Best Sacco in Kenya - Mombo App. 6 Ways a Quick Online Loan Can Help In Emergency Situations in Kenya - Mombo App. Will Paying Off My Old/Bad Debts Raise My Credit Score? - Mombo App. Friends Want You to Spend More? Beat FOMO and Stay on Budget with SACCOs in Kenya. Intelligent Investing: What does it take to be a Smart Investor? - Mombo App.
How to Open a Savings Account that Enables You to Borrow against Your Savings? All the Payday Loan Questions Answered - Mombo App. Sometimes, even the most prepared people may find themselves in a cash crunch. Financial hitches can be as inescapable as they are upsetting; this is why it is essential to have the backup of a mobile payday loan. Surveys indicate that although Kenyans do an incredible job of maintaining their finances, they will need occasional help. A higher percentage of them are going for the payday loans to bridge a short-term money deficit or to cover for unplanned expenses that may arise before the next payday, without incurring rotating debt. The best payday loan lenders in Kenya provide mobile apps that allow for painless loan application process. These apps are user-friendly, easy to navigate and automated, and make it flawless for one to get their loans, fast. This article covers the wide-ranging question that people frequently ask about payday loans.
Paying Off Debts vs Saving Money. Mombo iCapital - Safe & High Returns Investment Plans in Kenya. What is Net Investment? Everything You Need to Know About It. How to Save Fast and Automatically With a High-interest Savings Account? Same Day Cash Loans in Kenya - How Do They Work? Big Wedding or a New House? Here Is How High interest Savings Account Helps You Have Both! Want to Buy Your Dream Car 5 Times Faster? Check out Our Best Saving Plan. 7 Rookie Investing Mistakes and How to Avoid Them. Saving 101: A Little Saving Goes a Long Way. Blockchain VS Supply Chain: How the Blockchain Could Impact Your Business. Bank Fees Eat Up Your Savings? Open a No-Fee Savings Account! 4 Instances You Should Take Short-Term Loans. 6 Reasons to Take Personal Loans Online. Should You Be Taking Low-Interest Personal Loans? Simple Loans - MOMBO.