The Money Diaries

Did you set goals for yourself back in January? Now that we are a four months into the year, it’s time for a quarterly review. How are you doing? Have you made progress with those goals? Or are you quietly shifting the goal posts? While most people make resolutions or set goals in January, I tend to do this in September – on my birthday. For me, it’s not just about commemorating another year around the sun; it’s about taking stock of my life. Celebrating my wins, learning from my shortfalls, and setting new goals for the year ahead. Honestly, sometimes I feel like I’m falling behind. Whenever I feel this way, I like to remind myself that everything has a time or season, life isn’t a race but a journey that is different for everyone. For example, the Ethiopian calendar year is 13 months long and is currently about 8 years behind everyone else’s, but they’re still getting things done. So really, it’s a matter of changing perspective, and adopting the belief that it’s never too lat...

Not all debt is bad debt. In fact, when managed wisely, borrowing can be the bridge between where you are and where you want to be. Just the other day, I engaged the services of a car ride-hailing company (think Uber, Safe Boda, Faras and the like); the driver was young man in his mid to late 30’s. His laid-back attitude, “beach vibes” attire, very clean car, and careful driving led me to assume he had borrowed the car for the day on a quick hustle. But as we chatted, and I got know his story, I was pleasantly surprised. Readers, never judge a book by it’s cover. Our journey (and story time) began with me helpfully sharing directions for a short-cut to my destination, to which he replied, “Eish! I know all these panyas [short-cuts]. I used to ride a boda-boda before I got this car.” Curiosity activated, I asked why and how he’d made the jump from 2-wheels to four. The long and short of it – boda-boda riding was hard work, long hours, and in Kampala, it’s a nerve-wracking expe...

You may think that side hustles are a Gen Z thing, but really the reason most people get side jobs is because the math doesn’t always math. When expenses exceed income, and you always end up with more month than money. My parents worked their 8-to-5 jobs during the week, and spent their Saturdays farming in the village. They were also urban farmers with a kitchen garden – growing Sukuma-wiki (Kale/Collard greens), herding goats, and raising chickens in the city – the hustle was (and still is) real. They sold the surplus eggs and chicken, and a goat or two during Idd and Easter turning necessity into opportunity. This second income stream wasn’t just for survival, it gave us stability. A side hustle is more than extra cash. It’s a pathway to financial freedom, a safe way to test-run your retirement plans, while sharpening your entrepreneurship skills and marketability. Long before WhatsApp, TikTok or Instagram, in the days when Facebook was the trending social platform, I built d...

Myth 1: If you work hard, you can make a lot of money. The truth? The hardest-working people are often paid the least. Success isn’t about effort alone – it’s about working smart and delivering value. Those who bring the greatest value earn the greatest rewards. Once upon a time, in my youth, I used to knit sweaters, scarves, and shoes. For all my time and effort, I earned very little. In my case and at that time, it was an expensive hobby – not a sustainable side hustle. These days, there are greater opportunities and more markets to sell your crafts, from the local farmer’s market to the various digital platforms. Borders no longer limit you – find your niche, and let technology help you earn the big bucks. Myth 2: If you have a lot of money, you’ll never have to work again. In reality, the more money you have, the bigger your appetite grows. You want a bigger house, better schools, and develop a taste for luxury brands – the desire for “more” is unquenchable. Building and ma...