5 Ways to Raise Emergency Funds in Kenya
Many people think that raising emergency funds is not easy in Kenya. This is mainly because when it comes to things like emergency fundraising, we don’t know how to start. However, this doesn’t have to be your experience anymore. As long as you desire to raise funds, you don’t need to worry about that. All you need to do is ensure that you are fully prepared when you start raising funds.
Here are 5 ways you can raise emergency funds in Kenya:
1. Sell Unwanted Things
One way to raise emergency funds is by selling things you don’t use or things you haven’t used for a long time. Living in a city like Nairobi may make you think this is not easy. But selling things is not difficult. It just requires little work.
You can use many sites to get the best deals and maximize the value of your things. Selling things online is much better than selling things at markets or on the streets, which is why Corido Marketplace has covered you. If you want to maximize the value of your items for sale, look at selling them online on corido.co.ke.
Before you decide to sell your things on the Corido marketplace, you must ensure that you have considered the potential resale value of your items. However, if you are not sure of the resale value of your items, the Corido team will help you throughout the selling process.
2. Offer your skills
When it comes to raising emergency funds in Kenya, some people have the skills to earn money easily. While these skills may or may not be something you were taught at school or even when you were a kid, you can try selling them if you are interested. This will get you money and open your eyes to the moneymaking opportunities out there. If you think that your skills are worth the money, you need to look for online selling websites. Some websites can give you a better idea of the market value of your skills.
You can also find sites that allow you to write about your skills and earn money. In addition, you should know that writing is not difficult and can be done anywhere. While some sites will pay you per article, others may offer you a flat fee.
3. Ask for a Loan
The quickest way to raise emergency funds in Kenya is to ask for a loan from family, friends, well-wishers, etc. The problem with this option is that many people hesitate to ask for help. Therefore, you need to ensure that the person you’re asking for a loan from understands your needs and can lend you a set amount of money for a specific purpose.
For example, if you’re trying to buy a house, you might be better off looking into the possibility of getting a loan from a mortgage. If you’re trying to get money to visit family or a relative in Kenya, you might be better off asking someone for a loan to visit family in Kenya. Just make sure that you’re going to pay your friend back and make sure that you don’t keep borrowing money that you can’t afford to pay back.
4. Start a money blog
Blogging is one of the best options to raise emergency funds in Kenya. A money blog is a great source of fast income. If you are a newbie to blogging, you can easily raise an emergency fund by setting up a blog and writing about money-related topics. While you will earn from your blog, it will take some time to build your reputation in the online community, and your readers will also start following you.
The best part is that making money online with internet sources can help you save cash if you are earning money through different means. For example, you can make money online through affiliate marketing, blogging, and other ways.
5. Seek Out the Best Financial Institutions
There is a general assumption that all financial institutions are the same for most Kenyans. Unfortunately, this is not true at all. While Kenyans have the best banks, chamas, SACCOs, etc., with some providing the best interest rates globally, it doesn’t mean you can automatically access to good credit. As a matter of fact, you need to do more research to ensure you have clear details on how some of these financial institutions work.
If you want to raise emergency funds, find out which financial institutions offer the best interest rate on savings. While banks may not have good rates, you may find great interest from other institutions such as credit unions and building societies. Remember that some of these financial institutions may not be available in all regions, so make sure you know which are the best available.
Conclusion
These five methods to raise emergency funds are just a few available options in the Kenyan market right now that can save your day. None of these options are perfect or better without proper research, but if you’re trying to find a way to raise emergency funds, then it’s not a bad place to start.
