Tag: Personal Finance
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Wealth Maximization: Managing the Key Drivers of Your Personal Finances – A Practical Example (Part 1)
In this blog post, we explore the financial journey of Kinuthia, a 24-year-old Kenyan professional with ambitious financial goals. Through a detailed analysis of his income, expenses, assets, liabilities, and cash flow over the first five years of his career, we help Kinuthia develop strategies to maximize his wealth and achieve his short and long-term…
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Maximizing Personal Wealth: The Economics of Tracking Income and Expenses
Tracking your income and expenses is essential to maximizing personal wealth, and applying economic concepts can help you to achieve financial success. By following the principles of the income-expenditure identity, budget equation, marginal propensity to consume, and present value of an annuity, you can ensure that your income is being used efficiently and that you’re…