Find us on Google+ My Sensible Cent: June 2015

Thursday, June 25, 2015

3 Advices To Ignore When Job Hunting

If you are looking for a job, you probably have sought some advice from the more experienced relatives, experts or superiors; those with a better understanding of the job search process and can say something about what to do and what not to do when searching for a job.
All this could be a good thing for you the job-seeker, but when you decide to take in all the advice given without being careful which one will work best and which one will work against you then you might be job searching for a long time.
Not all advices will work for you as they did someone else. Remember professions are different and in the same way, companies are not the same; there are large corporations that will require years of experience and small companies that will not demand much.

So, what advices should you ignore?

1. “Apply to a job that you know will make you happy”
While it is a good thing to want to be happy at what you do and to love your job, this advice may not work to your advantage. Especially if you are a fresh graduate looking for a position that will give you the experience you want to advance in your career.
You will be at a better advantage if you choose to ignore this advice and instead apply to one that you are well qualified for.

2. “Tell your interviewer the exact salary you were earning in your previous job”
When you hear this advice, you are better off not acting on it. Being honest about your salary is as terrible as it gets. You might give a larger fee than what the employer is willing to give and kill your chances, or you might mention a smaller fee than the one budgeted for your position and end up suffering for it.
Entry level candidates, the latter is common. Do your research on how to answer the salary question to avoid being sorry.

3. “Keep your CV to 2 pages maximum”
If this is not a requirement in the job you are applying for, don’t let it become your application headache. If you have
done a lot of volunteering or have several achievements, don’t shy away from listing it all down. Employers are different and what is not liked by one may be impressive to another. But also, do not include unnecessary information and bore the recruiting firms or employers.

4. “Apply to every job related to your field, even those with more experience. You never know”
This advice is more likely to lead you into depression than give you a job. Requirements are set for a particular reason and if you keep making applications for jobs you are not qualified for, you’ll keep getting nothing for a reply.
The job searching process can be very frustrating, but it does not have to be. Have a strategy that will work.
Source: CareerPointKenya

Tuesday, June 23, 2015

Resume Tips: How to Write a Good Resume

Image is everything when you’re a job seeker. In fact, your resume is a prospective employer’s first impression of you. This is especially true of anyone seeking job opportunities in a creative field like graphic design or media production, so it’s important to make that first impression count. Combine powerful content with a professional layout to get their attention and keep your resume from ending up in the slush pile.
Establish Your Personal Brand Early On
Remember that a resume is a scannable document that only gets 10-20 seconds to impress an employer; however, the beginning section is the part most likely to be read in detail. Go for maximum impact by starting off with a strong headline that supports the profession or industry you’re targeting.  Next, write a summary that clearly highlights the benefits of hiring you. Include core competencies employers in your field look for when hiring.  Finally, clearly list other important credentials such as career experience, education, awards, professional organizations and any other relevant information.
Share Tangible Results
All employers want to know one thing when searching for the right candidate to fill a vacant position: “How will hiring you benefit me?” Your resume has to answer that question. One way of achieving this is by listing achievements you have accomplished for each position. The achievements that stand out the most are ones that are in some way measurable. For example, a measurable key achievement on your resume might read, “increased revenue by 37%. “
Keep Things Uncluttered
Even when you’re seeking a creative job, your resume needs to be clean and uncluttered. Make sure margins and tabs are properly set. Keep the font style and size as consistent throughout the resume as possible. Use bold sparingly, and add white space to break up sections and keep things easy on the eyes. Shading, boxes and graphics are ways of increasing visual interest.
Create an Online Presence that Compliment Your Resume
In most cases, resumes are still the primary tool used to secure employment – even for creative professionals. It’s also important to recognized that more and more, employers are using Google and other search engines to learn about candidates before they are contacted for an interview. It’s a good idea to utilize social media sites like LinkedIn to build a professional profile. You can even link to your website or an online portfolio. You can include your LinkedIn web address on your resume hard copy, just as you include your email address or any other  contact information.

How to Use LinkedIn Effectively for Your Job Search

According to LinkedIn, there are more than 800,000 Kenyans registered on this Professional network. However, registering is one thing, utilizing its potential effectively is another thing altogether.

As we know, recruiters and employers are constantly hunting for the best candidate to fill a specific position in their organization or the best candidate to present to the client. In this case they have no choice but to come to where these professionals are and LinkedIn happens to be the right place.

Candidates are often judged by how they present themselves online. There is the type that always posts motivational messages and quotes on life, religion or even politics. The type that is always following celebrities and known personalities.

But how about engaging that Human Resource manager, employee or employer from an organization  you are interested in? Instead of following Richard Branson, Aliko Dangote and Bill Gates connect with individuals who can add value to your career.

How to Job Hunt Via LinkedIn

I don’t know why you signed for LinkedIn but I have these two guesses. You could have joined LinkedIn to search for that dream job or to network for your business. If you have other reasons other than these two, then this may not be the right post. If you are looking for a job then why don’t you have a better profile?
Start by uploading a professional photo. What would come out as a good LinkedIn profile photo? Look at ease, look confident and smile. Remove any distraction behind or next to you (that means nothing else in the shot; no kids, no friends, no wife, no hubby, no pets etc). If you can afford one, get a professional passport photo taken.

Brand Yourself.
If your top skill is capital management, describe your capital management proficiency in your summary as well as in multiple work experience descriptions. Don’t be a jack of all trades.

Have a detailed job description.
Where you currently work, your start date and what you do. Update your profile frequently by adding new employments and achievements in your past places of work. Spend some little time on your profile once in awhile as it’s the only avenue recruiters get to know you. Make good that first impressions!
When contacting a recruiter or any other person that you think can be of help, your approach really matters. Bombarding a recruiter's inbox with messages asking for a placement is not going to give you that job. Apart from being unprofessional, this act will only portray you as someone not serious enough. Why not start by engaging him in a personal chat, get to know this person and their organization. Ask about their recruitment process. Do they accept unsolicited CVs? If yes, why not email him/her your CV indicating clearly the kind of job you are interested in. Make the conversation personal as opposed. Don’t just inbox with the message, "please find my CV" or "I am looking for job ABC."

Lastly, engage!
For you to be recognized online, start by posting helpful articles and links about your profession. Don’t do the motivational quotes that every average Dick and Harry is doing. Always post content that will add value to your connections and bring out your knowledge and interest in your field. And if someone sends a message to your inbox , be courteous and reply.
It would be worthwhile joining the numerous professional groups in your field and contributing. A professional group will help you advance your knowledge and skills as members share their experiences. By posting in the group you establish credibility and grow your influence.

LinkedIn is such a wonderful employment tool and as more Kenyan employers and recruiters are turning to this valuable tool to source for candidates, you can count on LinkedIn to offer you that dream job.  Online savvy professionals are now using LinkedIn to grow their networks for jobs and to develop their career. Don’t be left behind.

Monday, June 22, 2015

4 Job Hunting Tips While You Are Employed

There comes a time when your current job is no longer appealing to you either because the salary is in adequate, or the schedule is just too crazy for you. Whatever the reason, job hunting while you are still employed is acceptable.
In fact, it is advisable to conduct a job search while you are still employed because it makes you sell better than when you are jobless.
Are you at that point in your career where you feel like you should change jobs? What is the right and wrong way to do it?
The following are tips on how to actively job search while you are still employed but avoid creating bad blood between you and your current employer.

How To Job search While Still Employed

1.Keep it Secret
If you want to keep your current job, it is wise to keep your job search a secret. Some companies have a policy to fire employees who are actively job seeking. Do not compromise the job that you have on another that is still uncertain.

2. Do not use company resources to job search
Being ambitious is one thing, but using company resources when job hunting is outright reckless. You may want to save on the money to go to a cyber cafe, but honestly, stop being cheap.
Job search on your own time away from the office and using your own resources. Be a smart job seeker.
While networking on professional social sites like LinkedIn, it is advisable to use your personal contact details not company contacts. Emails or phone calls made to the company are more likely to sell betray your intentions and may cost you your job.

3. Schedule interviews wisely
Whether you lie you are going to a doctor’s appointment or a meeting with a client,  interview scheduling should be done wisely. Always be cautious and ensure that the real purpose of your absence is not discovered by your employer. This could cost you your current job.
If you are used casual wears to work and then suddenly show up in in the morning in a suit, chances are that you will raise suspicion. Dress normally to work and make use of the washrooms to change for the interview.

4.Keep your work and job search separate.
Job searching is time consuming and tedious. Do not let your work be affected by using company time to work on job applications. This could affect the quality of your work and could divert unnecessary attention towards you.
Perform your job responsibilities fully and only when you leave work, you can start on the job search. The two should not be done hand in hand.

Friday, June 19, 2015

Finding a Secure Offshore Banking Account

While it can be difficult to search for an offshore financial institution, it is equally challenging to locate an offshore company that guarantees discretion and confidentiality. Ensuring that banking transactions are secure and confidential are the most important goals of an offshore banking company.

Favorable Territories

Some offshore companies within popular jurisdictions are subject to extreme laws that permit country officials to change government policies because of tax-related pressures. Countries such as Switzerland and Panama are two that often change their laws frequently because of such pressures. On the other hand, jurisdictions such as the Cayman Islands or the Channel Islands have more favorable tax laws that not only permit institutions to provide confidentiality as an offshore banking solution, but also provide more liberal tax incentives for offshore clients.

Asset Protection

Offshore companies gradually continue to offer more options to allow customers to perform traditional banking activities such as wire transfers and online banking regardless of modifications to banking privacy laws. Although such laws can change without notice or consideration to the offshore consumer, finding and choosing the best offshore banking company that prides itself on maintaining privacy for its clients will far outweigh the impact of countries that modify their laws frequently.

Trust Options

Another offshore banking solution for clients is the offshore trust company. This type of banking product fulfills additional demands of clients who want complete privacy as they perform daily banking and trust transactions. For example, offshore companies are able to accept client deposits without having to reveal individual identities to third parties.


Opening an offshore account with the help of an offshore company will give you greater peace of mind and a refuge for your wealth in a private, secure place. Offshore companies offer a variety of short- and long-term options, depending upon the goals of their clients. Clients have the option of investing in tax-free stocks, commodities, and/or interest-bearing term deposits.

Offshore companies that offer asset management services and help to protect their clients’ wealth from litigation and questionable trust administrators provide the best incentives for future clients who want to see their assets grow without the heavy tax burden of some countries.

The most important thing to consider in searching and selecting the best offshore banking company is the policy against criminal actions and subsequent convictions. Most reputable offshore companies have a policy of non-tolerance for clients who are convicted of tax-related crimes within their home countries.

3 Ways To Overcome The Job Search Misery

In the job search process, you will either be constantly frustrated for not getting to the interview stage or face rejections over and over. If you allow these frustrations to take control, stress start kicking in and then you start moving gradually to depression.
At this point you are in a state of misery and might be leaning towards giving up, but don’t allow yourself to accept defeat. You can refuse to be frustrated and instead choose to maintain confidence. You can kick the job search blues away if you will yourself to.

Here are 3 ways you can overcome challenges in your job search.

1. Avoid Isolation
The potential for feeling isolated and alone is the greatest roadblock any job-seeker can face. Getting out and about as much as possible is critical to your success. Since networking is the most direct route to your next position, you should be meeting people at every opportunity.
Try being active in professional associations and groups relevant to your line of work, Volunteer in a related field or try joining a job search group (these can be online, either in Linked In, Facebook or WhatsApp) where you can engage with other people in your situation.

2. Practice Proactive Stress Reduction

Plan ahead and determine the best methods you can use to make yourself feel better and relax after a tough day. Some of the methods that can work would be to identify close friends you can go to talk to or confide your frustrations to.
Another way to reduce stress is to complete a project where you will see a tangible result such as cleaning out a drawer, or rearranging your closet.
Also, if you can afford to take some time away, perhaps a weekend or a bit longer, do so during your search. Adding some real distance both emotionally and physically to an issue can provide renewed focus and energy. It will also improve your overall attitude.
3. Set Yourself Up for Success
If your skills aren’t current and competitive, it is difficult to feel good about your viability as a candidate. To be successful, you will need to sell yourself with confidence to potential employers. So, if you can afford it try taking a class to improve your qualification and skills.
The job search process is never easy, at least not for most, so try as much as you can to remain confident and energetic. You never know when it is your time.

Wednesday, June 17, 2015

How to Survive on a Low Income in Kenya Today

 Most households in Kenya today are finding it hard to survive on the peanuts they earn to the end of each month. With inflation ensuring that the prices of goods and services, in Kenya, are increasing at a rate faster than your pay cheque, it is easy to see why this has become an overwhelming problem for so many people.
This can be especially true for low and middle income families (what majority of Kenyans consider middle class is actually the upper lower class), who are already feeling stretched to the limit and have very little or no resources left after footing their basic bills.

All is not lost, however, as there are some basic ways that every 'hustler' can save money on their day-to-day expenditure. Below is a look at the top money saving tips perfect for anyone, more so the low-income earner
  1.  Save on Transport: Transport is a recurring expense which consumes a significant portion of a Kenyan income. Therefore, it is only wise to save that 10 or 20 bob, per trip. Always look for ways to save on transport expenses. Be it walking the short distances, using public transport instead of driving, or waking up early and staying late in the office to avoid the rush hour peak fares, saving on transport is a must for a Kenyan hustler.
  2. Change Your Bank Account. If you have been operating a bank account which charges account keeping fees or that which requires you to have a minimum balance on your account, then it is prudent you change to a more pocket friendly bank. The Kshs. 200 account maintenance fee might seem small but its effect on your money is significantly huge, especially when you don't have enough income to sustain it.
  3. Saving on Meals: You don't have to take your breakfast in a hotel if you can easily wake up early and make it yourself. A cup of tea in Nairobi in 2015 is ksh. 50 or more. Whereas this may be tastier and ready made, a cup of tea would cost you ksh. 15 bob or less if you made it yourself. You can carry your lunch to work instead of buying lunch in the cafeteria for over 200 shillings.
  4. Save on TV: Until recently, television was not considered a recurring expenditure to the Kenyan low income earner. However, with the enforcement of the digital migration directive, Kenyans have found themselves paying something little to watch TV. But to save on TV, it may require that you eliminate your Pay TV services and opt for a free to Air TV instead. The cost of a free to air set top box might be slightly higher than the pay TV ones but the overall cost of a pay TV (even if it is kshs. 150 per month) is tenfold more.
  5. Shopping: You don't want to spend the 1,000 shillings daily on grocery if you hardly have enough cash to feed to span a month. Shop for sales items at the grocery store and strive to purchase items in bulk, to get the cheaper per unit price.
  6. Movies and books are sometimes considered a luxury, but if you have to, rent a movie instead of heading out to the movie theater where tickets are fairly expenses. Some information contained in the the books can be accessed inexpensively through the internet or by renting instead of buying a book.
  7. Saving on Cell phone credit: If you have a cell phone plan already, you may opt for the monthly post paid service, if your calling is intense or reduce extensively on the number of unnecessary calls you make. SMS plan and Whatsapp comes handy here.
  8. Eat outs and Dinners: Limit the number of times you eat out each month and choose to eat at home instead. When you do eat out, be sure to ask for water instead of more expensive drinks, and skip dessert at the end of your meal.
  9. Save on Electricity: Lower your electricity bills, by using energy saver bulbs and appliances and turning off your lights and TV when you are not in the room, and unplugging your appliances at the outlet when not in use.
  10. Sometimes it is good to avoid big stores: Sell and buy items at a local kiosk or smaller stores when buying clothes, household furnishings and miscellaneous goods. The supermarkets are cheap outlets for basic commodities like Unga. However, when buying furniture, and clothes, you don't want to compete with guys who hold the notion that expensive is stylish.
  11. Health and Fitness: Instead of paying that monthly subscription at the gym, you can start a walking club with some of your friends, or purchase some yoga training videos that you can do at home. Keeping yourself healthy is fundamental both to your current and future savings. Watch what you eat and keep exercising. The good news is: healthy food are inexpensive.
  12. Buy Generic: Brand names are always expensive. Therefore it makes sense to purchase generic-named medications, cleaners and groceries in place of the "original" ones. Cautions: do not try this trick on electronics, the cost will double.
Combining these twelve money savings tips can help a low income earner spend less on the everyday items they purchase and survive to end month with zero debt and/or extra cash for savings. While not all of the tips may be applicable to your household, just doing five of them on a regular basis can help you save a lot of money over the course of just a few weeks.  You should always be on the lookout for ways to save money, no matter how much you earn.

Four Strategies To Find & Apply For Unadvertised Jobs

Contrary to the belief held by a majority of job hunters, the majority of jobs in the market are not advertised. This means that most of these job seekers miss out on jobs since they mainly depend on the newspaper, recruitment agencies and job listing sites.
Due to high cost of advertisement, most middle and small size companies don not advertise their job vacancy.
 Here is how to get and apply for that position you want but can't find that advertisement introducing its availability:

1. Target Search and Research.
First and foremost, it is important that you know your career goals and objectives. You just have to know what you want in a job. After that identify the company that you think you need to work with. Keep your options opened when it comes to the companies you would like to work with.
You can do this by creating a list of target companies, prioritized by what’s most important to you such as: size of the company, specific geographic area, type of product / services, industry, profit or nonprofit organization, reputation/company culture, and so on.

2. Networking.
With a most of Kenyan jobs going unadvertised, it is vital that you constantly network and keep all your old contacts. This can be done through their employees, companies they work in partnership with among others.
Through this, you will be kept in the know on any available positions that need to be filled and will even be recommended to through the contacts you made.

3. Attend Trade Fairs and Conferences.
The only way to meet a majority of employers and future bosses is through trade fairs. Information about these fairs are always in the press and the companies’ websites.
The fairs are not only limited to trade, but also career fairs that are mostly conducted in universities and attract potential employers and companies.

4. Follow-Ups.
When applying for a job position that has not been advertised for, it is up to you to follow-up with the employers on the progress of your application.
You can do this through occasional phone calls or via email. However, this should be done after a week or so.
Remember that since this position was not advertised, your application and CV should be tailored for that particular position and company.

Tuesday, June 16, 2015

4 Major Challenges Kenya's MPESA Agents Go Through

M-PESA is the mobile money transfer platform introduced in Kenya by Safaricom - Kenya's arguably dominant mobile network operator. It is a fact that M-PESA has revolutionized lifestyles of Kenyans in the last eight years. To-date there are about 40,000 M-PESA agents in Kenya according to statistics from the telecommunication giant. It is this extensive network of M-PESA agents that Michael Joseph attributed to the phenomenal success of the M-PESA mobile money transfer system. Although the former CEO's assertion remains arguable, the significance of the agent outlets cannot be overemphasized in analyzing the mobile money transfer system's success.

Engaging a couple of M-PESA agents in some discourse, recently, in trying to understand their contribution to the platform's success, I caught a few concerns that would qualify to be the 'Tribulations of the M-PESA agent'. Here are some :-

M-PESA in Kenya is anchored on SMS texts exchanged between individuals, agents and suppliers as 'validation notes'. The validation notes  in form of SMSs are guaranteed by M-PESA agents' deposits with Safaricom (also known as float) through a trust deed. With the maturity of M-PESA money transfer service as part and parcel of our society, even the fraudsters have joined the bandwagon to make their contribution in the diverse society. Agents have repeatedly fallen prey to these 'intelligent' citizens who send fake system withdrawal messages at outlets. Unsuspecting attendants ignorant of the authenticity of these texts dish out money only to discover the trickery when the fraudsters has  vanished.

The tricks can be as simple as sending that fake sms, to what is believed to be an inside job, where an MPESA attendant is called by a person smart enough to use codes to by pass your security codes and transfer the funds to another number. In most cases they clesr your float, leaving you helpless. How they do this is a topic for another day. Of greater concern to the agent is the fact that their contract with Safaricom pushes liability for such losses to the hapless agent.

It might be easy to think that the amounts stolen by these fraudsters using this method is little and theoretically limited to Ksh.70,000 (Maximum transaction amount per transaction) for instance. However those who are privy to operational details of  small enterprises like M-PESA agency might know that once an outlet is hit with theft of such magnitude, it could take months, years or never to recover.

2. Service Outages

Safaricom, often put out advertisement in traditional press and social media notifying M-PESA users and agents of a scheduled downtime. The scheduled outages are due to a planned upgrades of the mobile money transfer platform. A service outage for a whole day means loss of a day's worth of revenue (commissions) by agents. I am curiously shocked to learn that Safaricom have a reason to bring down a service so critical to Kenya's economy for over 32 hours. For a moment I can't prevent thinking that service availability is not an important service quality metric to Safaricom. I defer my curiosity for now until they announce the new upgrade schedule.

Scheduled outages not withstanding, it is not rare for M-PESA agents to be found helpless by customers who cannot be served because 'the network is down'. The same is experienced by customers themselves from their phone when they occasionally try to transfer money to others only to get a message that their transfer was not successful (to try again after ten minutes). Worse cases of service reliability affect M-PESA agents when a customer deposits money and there is a delay in the receiving the deposit confirmation text (on the customer's phone). The  agent is left in a precarious position of mistrust with an impatient customer who might not believe that their confirmation message will eventually come (perhaps after 20 minutes or never).

It is these planned and unplanned system outages (or degraded performance) that occasionally make the M-PESA agent a helpless businessman. Their supplier is also so powerful that they have no chance of negotiating favorable service level agreements to protect their small businesses from effects of such diminished service quality. Safaricom deserve a little more credit though. From the planned upgrade, it appears they have realized a need to improve the quality of their service. Although the planned platform improvement might alleviate some of the recurrent outages, the little bargaining power of the agents will remain a matter of concern.

3. Employee theft

Dishonesty can be argued to be prevalent among employees in Kenya.  Arguably, the desired combination of reliability and honesty among our workforce remains quite elusive. M-PESA attendants are not aliens to the purported culture of dishonesty. It should be correct to say that mobile money transfer systems include elaborate mandatory record keeping – some of which are electronically hosted by the money transfer platform. However many people forget that for as long as attendants must handle real money at some point, a temptation to steal or divert money meant for their outlet's operations exists.

Dishonest employees combined with an inept law enforcement system means that the M-PESA agent has to pray every day for their attendants not to yield to stealing temptations. The current police and justice system is such that it may be obvious who stole but nothing beyond knowing the thief is doable. It is this ever present fear of losing an outlet's cash that can permanently keep the M-PESA agent crossing their fingers. Some insurance companies I am told offer insurance cover against such losses but with 20,000 shillings 'excess' fees for any theft instance claimed. The insurance cover then rarely to makes sense to M-PESA agents since typically lost amounts are about the same as the 'excess'.

4. Fake Currency

A couple of weeks back I was listening in to one of our morning radio shows. Then there was this exasperated caller who was narrating how someone had deposited fake 20,000 shillings notes at their M-PESA outlet. The outlet's attendant had discovered the fake notes and alerted the local police before the conman had left. The police arrived at the scene, confiscated the fake notes, and left with the conman in 'custody'. To the astonishment of the agent, the police did nothing to assist agent who had already 'received' the fake deposit - hence deducted from their float. According to the caller, the conman eventually went scot free. With the current arrangement, no form of assistance was to be expected from Safaricom for mitigating such risks since the 'nonnegotiable' liability remains the agent's.

Long Conclusion

There are many other experiences that add up to miseries for M-PESA agents ranging from general risks in the external environment to business risks directly related to the nature of outlets operations. It should not surprise many that the much touted 40,000+ M-PESA agents are really not having sustainable businesses. It might also be that the extensive network of agents is the single biggest success factor of Safaricom's M-PESA platform for money transfer. In that case, with the above sentiments of M-PESA agents, it is the same factor that Safaricom has not quite controlled to their favor. Some of the M-PESA agent's troubles appear to be way out of reach in Safaricom's external environment. It is however the same environment that an entity of their size and might could work with the government to influence – for their favor. Some of the mitigation measures are as basic as additional agent capacity building.

All that said, I shall suggest that “The most significant success factor for mobile money banking operators working in Kenya will be their value proposition to Kenyan stakeholders including their customers, agents, and shareholders”. In my opinion, patriotic sentiments and feel good aspects such as corporate social responsibility will take a back seat as value drivers determine future growth paths for the competing mobile network operators.

Monday, June 15, 2015

The Basics of Asset Allocation

Asset allocation is simply the building block of investment planning, it is about investing across various asset classes such as equity, debt, gold, property, etc.

Here, various categories of investments behave differently while benefiting investors. For this, it is important for an investor to look for investment options (right assets)as per one’s financial requirements. The idea is to put your money into different investment categories to take advantage of varying situations. 
How to assess your asset allocation needs? 
Every investor has unique financial requirement, which usually defines her or her investing ideas. Thus, take a moment to think about your unique situation and risk appetite before formulating an asset allocation strategy. 

Asset Allocation Needs
Here it is important to segregate your investment plans basis on: 

Your funds: Your funds come from money that you can afford to spare for investment planning. The more funds you have at your disposal, the greater the amount of risk you can take. If you have only limited funds, you should be more careful while investing. 

Your time frame: If you are ready to invest for a longer period, then you can invest in riskier investments like stocks, which have the possibility of giving higher returns in the long run. But, if you are looking for short-term investment options, then look for less volatile categories. Basically, ask your fund manager for options where you have the possibility of getting liquid cash at the earliest. 
Your dependants: If you are responsible for a large family, then you need to take their needs into consideration before investing. 

Asset allocation strategy and your risk profile:

Here are few points that can help you design your strategy- 
Aggressive: In an aggressive asset allocation strategy, there are a higher percentage of investments in high-risk assets like equity. Usually you will invest more than 60 per cent of your corpus in such assets. This sort of aggressive investment tip is best suited to individuals who can afford to take higher risks. 
Moderate: In a moderate asset allocation strategy, the proportion of lower risk investments such as debt-based options are increased, while equity plans are lowered. This type of investment strategy is best suited to individuals who can afford to participate in risky investments, but need to accumulate wealth for their dependants. ThusFree Articles, there is a need to reduce their investment risk to some extent. 
Conservative: This is an investment strategy that is focused on generating regular income and protecting your accumulated wealth. 
It is important to understand how to assess and arrive at an optimal asset allocation to achieve financial goals and building wealth with minimum risks.

Sunday, June 14, 2015

7 Of The Most Jobless Professionals In Kenya

Are you still searching for a job more than 2 years after your graduation? The frustration is unimaginable. Chances are, you specialized in the wrong course and you are now regretting your choice. Perhaps, you are thinking of pursuing another degree all together.
Not so fast, peruse the following list to ensure that you do not take another course that will leave you more frustrated than you initially were.

Below is a list of the professions with the most jobless graduates.

1. Mass Communication
Walk around and almost every jobless person you see will tell you they studied mass communication. They all want to work in one major media house or another. The field is so crowded and with media houses hiring mostly in-house, it is a wonder most mass communication graduates pursue other courses.

2. Political science
The Kenyan job market just isn’t ready political scientists. Most people don’t even know what a career in political science entails.That would explain the predicament that these professionals face in the job market.

3. Nutrition
Though the jobs in this field are available, they are very scarce. This is why most of the people who are nutrition professionals are still job seeking years on.

4. Music
In a country where Music is considered an extracurricular activity, a music career is almost obsolete. It is not considered a lucrative profession that requires much thought.Those who are lucky get teaching jobs, but for the rest,they tend to find other career paths.

5. Drama
In Kenya, there are those professions that are considered luxurious and those that are considered hobbies. Unfortunately,drama is one of the latter. This is why most of the drama graduates are still in the job market hustling for jobs.

6. Hospitality
This is another job market that is rather crowded. Hustling for years on end seems to be a trend in this profession as some are forced to start up small enterprises to make a living. At the moment, especially with the retrenchments that are taking place in this industry,these professionals have to remain jobless awhile longer.

7. Counseling
As lucrative as a career in counseling it, the available jobs are little to none at all. The graduates in this field will mostly for lack of jobs open up their own practices,but unfortunately this requires a lot of resources.
Go back to the drawing board and assess your career choice. It is wise to check the current job market before pursuing any courses.

Wednesday, June 3, 2015

How To Resign Professionally

Resigning from a job or a position is something you will definitely face at one time or another. Therefore, it is paramount that you are aware of how to tender that resignation with tact and diplomacy.
You might be tempted to jump or dance your way out of the door, or even get your own back by criticizing your boss to the entire office. But you should resist these temptations, by all means, when the time comes for you to resign.
Being cautious and submitting a polite resignation letter means you won’t burn bridges. You may not want to work for the same company in future, but remember, paths might cross with your ex-boss or other colleagues in a different company in the future. Trying to exit a professional manner will help you retain credibility – even if you’re leaving under a cloud. Below is a stepwise way of tendering that resignation letter.

1. Letting your manager know

It is courteous to tell your boss first. Request a meeting with him/her to say that you’re leaving, following up soon after with an official resignation letter. Do this before you blast out an office-wide email.
Work out how you can ensure a smooth transition and minimize disruption to your employer. There may be a range of things you can do to hand over professionally, such as completing projects, working out the priorities with your line manager,leaving clear documentation or training up your successor in processes or software.
Before the meeting with your boss, write a list of ongoing projects along with status updates and suggestions for completion.Use the meeting to clarify any other points, such as your notice period and leaving date, how you will inform others (colleagues or external clients, contacts and suppliers). Ask about references too; your employer may only supply the most basic type (including dates worked, job title etc) but your line manager might also give you a more personal reference.
Making sure you get a good written reference before you leave (or trying to agree the wording if you leave in less happy circumstances) can make subsequent job hunting less stressful.
2. The Resignation letter

Keep your letter short. You don’t need to give lots of explanations or justification for why you’re leaving, or even to say where you’re moving to. Don’t be tempted to address the failings of the company or your boss, either. Instead, thanking your employer for the job and mentioning what you appreciated about it is a graceful touch.

3. Letting others know

As well as telling your closest colleagues in person, you may also want to email others. Again, keep this short and sweet, such as: “As you may already know, I’ve decided to leave the company to pursue other opportunities (in … ) /to take the next step in my career.
I’ve greatly enjoyed working with you all and hope that our paths will cross again in the future.”