Borrowing money

As spending will not pay for itself, it is good practice to only borrow the amount needed.

| File | Nation Media Group

To borrow or not to borrow?

What you need to know:

  • Differentiate between borrowing for critical needs or income shortfalls (must have), versus borrowing for wants or comforts (nice to have).
  • Kenyans struggling under the burden of loans with predatory terms remains a serious problem.

As Kenyans gear up for the festive season, an uptick in borrowing is expected. Whether for holiday plans, bridging income shortfalls or for January’s heavy obligations, options are seemingly endless.

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