Money Matters; Know Your Investment Before You Put Money In It

Kenya jobs, 

There’s something about the idea of doubling money on an investment that intrigues most of us but we are in such times where the market is way unstable and we need to investigate and know our choice of investment before we put money in it.

Here is what you need to know before you put money in an investment by Perminus Wainaina, the Managing Partner and head of Recruitment at Corporate Staffing Services, a human resource consultancy firm in Kenya.

Mr. Wainaina left employment six years ago to venture in into HR Consultancy where he identified a gap and grabbed the opportunity and invested in it while it was still hot. While else he came from a different industry he also invested on his knowledge and skills which are something entrepreneurs need to do.

“When I started the HR Consultancy firm the HR industry was not regulated, I saw an opportunity, went back to school and got a HR practicing license.” He says

Saving methods; Mr. Wainaina advises on analyzing what you earn and what you spend then save a certain percent of your salary and also don’t just save money; also invests because real wealth is in investing the money and getting positive returns from the investment.

“I save at least 25% of my salary and every six months I analyze where I can invest it.” Say Mr. Wainaina in an article on what I know about money.

He also advises that it’s wise to have a certain amount of the earnings going to an emergency fund and that whatever money targets you make, stick to them and make sure you are not distracted.

Building wealth; learn to spend less than what you earn, after all, it’s not what you earn but what you are able to save from the earnings. Like mentioned earlier building wealth is not much about saving but learning to invest what you have saved.

“Real wealth is in investing and getting positive returns.” as quoted by Mr. Wainaina

He goes ahead and advises individuals on venturing into activities that help them earn without direct involvement which I would say is a great solution for those looking to invest but are still in full employment.

Self-employment versus formal employment, many people still believe that entrepreneurs make tones of money as opposed to the salary they get when they are employed.

Mr. Wainaina confirms that you can make money whether you are employed or in business as long as you are providing value to your employers or your customer.

Common money mistakes; many people are quick to invest without investigating the industry they want to put their money in. Mr. Wainaina talks of his own money mistakes being investing in shares several times without thoroughly analyzing the various companies in whose shares he bought.

He adds that nowadays if he doesn’t know how an investment works, he pays an expert who can guide him and keep his money safe.

His final advice is to women and money where he says that as a recruiter he has observed that women don’t know how to ask for good salaries, they also tend to assume that some roles and salaries are preserved for men.

To the women, he says, “You won’t get paid well if you don’t ask or negotiate for it.”

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