Is Kenya Saving Enough? Survey Shows Worrying Trend


Recent research on saving habits in Kenya shows worrying patterns. The study indicates that a large number of Kenyans face difficulties in setting aside money for emergencies.

The data reveals a small percentage of individuals consistently saving money, while many are barely able to cover their expenses each month.

Individuals need to prioritize saving to protect themselves from unforeseen financial hardships. Building a strong savings foundation not only provides security during tough times but also opens doors for future possibilities.

Challenging times can create opportunities for potential growth in the future. The Tala survey reveals the difficulties Kenyans face in saving, shedding light on how seasonal expenses can greatly affect finances.

These recurring costs can be like a financial burden, hindering the development of a consistent savings routine. The yearly cycle of school fees poses a significant obstacle, especially for families with more than one child.

These concentrated expenses often drain existing savings, leaving little space for consistent contributions and disrupting progress toward establishing a stable financial cushion.

Individuals may need to use their savings to cover basic expenses if they have low incomes or experience delayed payments depleting their financial cushion and make it difficult for them to reach their savings goals. 

The fear of using up what little savings they have can prevent people from investing in important areas like retirement planning, creating a cycle of vulnerability.

The findings of the Tala survey indicate a concerning pattern: a decrease in the number of Kenyans who are employed in full-time positions.

This transition towards part-time, temporary, and informal work has important consequences for how people save money and plan their expenditures.


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Having a full-time job usually means having a steady and reliable source of income. In contrast, part-time jobs can present challenges with their unpredictable pay schedules and varying income levels.

This inconsistency makes it hard to plan and save a set amount each month. Relying on fluctuating income sources can weaken one’s commitment to saving, leading to using savings for immediate needs or stopping saving altogether.

The changing employment landscape presents challenges in terms of fewer job security and limited access to benefits, which may hinder economic growth.

In response, promoting financial literacy and alternative saving methods is crucial to encouraging savings.

Micro-savings programs, mobile banking solutions, and tailored financial education can empower gig workers and those in the informal sector to save consistently despite irregular incomes.

Kenyans can enhance their financial security by diversifying their income sources and utilizing government assistance when needed, which can help them navigate through uncertain financial times more confidently.

Apps such as Uber and Bolt provide flexible job options for people with vehicles or bikes. Additionally, offering freelance services on websites like Upwork in areas such as writing can help individuals boost their earnings.

The Inua Jamii program provides financial assistance to empower small businesses through training, mentorship, and access to credit.

You can find details about eligibility and how to apply on the Ministry of Public Service, Gender, and Affirmative Action website at

Kenyans can create a better financial future by focusing on saving, practicing responsible money management techniques, and increasing their financial knowledge.

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