Ndindi Nyoro on Wealth Creation: The MP and financial expert outlines his three-step approach to building wealth.
Step One:
Pay Yourself First.
No matter how you earn your money—through employment, business, or side hustles—make sure you allocate a portion of your income to yourself. The reality is, most of us work for others without realizing it.
If you use your income to pay rent, you’re essentially working for your landlord. When you get your hair done, you’ve spent that time and energy for your stylist. Every time you fuel your car, you’re making money for oil companies like Shell, Total, or Kenol.
So, start by honoring your own effort. Save at least 2 shillings out of every 10 you earn—without exception. Whether you’re making KSh 10,000 or KSh 1 million a month, this habit should not be skipped. It’s simply what people call saving, but it’s much more than that—it’s rewarding your own labor.
Step Two:
Control Your Spending.
It’s surprising how many people, regardless of income level, find themselves constantly broke. Someone earning KSh 300,000 monthly may be just as financially strained as someone earning KSh 5,000. While financial responsibilities differ, most people end up with empty accounts.
The main culprit? Lack of discipline in spending. We often want to satisfy every desire as soon as we earn money. But the truth is, not every want needs to be fulfilled immediately. Stick to a budget and avoid dipping into the 2 shillings you’ve set aside for yourself. Even after spending all your income, you’ll still have unmet wants—so prioritize wisely.
Step Three:
Make Your Money Work for You.
The savings you set aside should not just sit idle—they should grow. Think of your money like children. If you consume them, your lineage ends. But if each “child” brings forth four more, your family tree expands.
Apply this logic to your finances. If your 2 shillings create two sources of income, and each of those brings in four more, you’re multiplying your wealth. Soon, you’ll have streams of income so abundant that you won’t be able to spend it all.
That’s what it means to invest. This is the path to driving a Range Rover, keeping a VX as your backup, using a Mercedes for errands, living in Muthaiga, owning a second home in Runda, and unwinding at your 1,000-acre ranch in Nanyuki on the weekends.
Ndindi Nyoro’s Guide to Wealth: Simple steps, lasting impact.
