🚨12 COMMON SCAMS THAT TARGET YOUNG PEOPLE (AND HOW TO AVOID THEM)

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🧠 INTRO: YOU’RE A TARGET, NOT A FOOL Young people are smart, tech-savvy—and unfortunately, prime targets for online scammers. From flashy job offers to fake scholarships and “easy money” investments, the digital world is filled with traps that look tempting, especially if you're hustling to earn. This post isn’t here to scare you. It’s here to equip you. We’ll break down the most common online scams that target students, jobseekers, and young professionals—and how to spot them before it’s too late. 🚫 12 COMMON SCAMS THAT TARGET YOUNG PEOPLE (AND HOW TO AVOID THEM) 1. Fake Online Jobs Promising “Work From Home” Riches 👀 What It Looks Like: “Earn KSh 50,000/week working 2 hours a day from home!” These often appear in social media ads or shady Telegram groups. 📌 Real Example: Esther, a university student in Eldoret, paid KSh 1,000 for a “training manual” only to discover the company disappeared after that. ✔️ How to Avoid It: Legit jobs don’t ask for upfront payments. Cross-check...
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THE ULTIMATE BEGINNER'S GUIDE TO PERSONAL FINANCE IN YOUR 20s

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"Young adult budgeting with piggy bank and notebook"



Introduction: Why Your 20s Matter Financially


Your 20s are the foundation of your financial future. It might seem too early to care about retirement or investments, but this is actually the best time to build good habits, avoid costly mistakes, and set yourself up for long-term success. Whether you're a student, new graduate, or working your first job—this guide will help you take control of your money from the start.


1. Understand Where Your Money Goes


What to Do:

Track every shilling or dollar you spend for a week. Use apps like Mint, Money Manager, or a simple notebook.


Example:

Janet realized she was spending KES 3,000/month on takeout lunches. She started meal prepping and saved KES 2,000.


Tool:

Google Sheets budget tracker or an app like Spendee.


Tip:

Awareness is step one. If you don’t track, you can’t fix.


10 Simple Budgeting Hacks Every Student Should Know.


2. Create a Simple Budget That Works for You


Use the 50/30/20 Rule:


50% Needs (Rent, food, transport)


30% Wants (Entertainment, shopping)


20% Savings/Debt repayment


Example:

Brian, earning KES 25,000/month, used this rule to consistently save KES 5,000 monthly.


Budgeting template on Google Sheets


3. Build an Emergency Fund


What It Is:

A safety net for unexpected expenses—like medical bills or a broken phone.


Goal:

Start with at least 1 month of living expenses.


Example:

Lucy lost her job unexpectedly, but her emergency savings kept her afloat for 2 months.


Where to Save:

Use a mobile savings account like M-Shwari, KCB M-PESA, or Chime (if in the US).


4. Start Saving for Short- and Long-Term Goals


Short-term goals:

Travel, phone upgrade, new laptop.


Long-term goals:

Business startup, down payment for a house, retirement.


Pro Tip:

Open a separate savings account for each goal.


Example:

Terry opened a second bank account just for travel savings—and went on a fully paid trip to Mombasa.


5. Avoid Bad Debt Like the Plague


What to Avoid:

Expensive mobile loans, unplanned credit card usage, or borrowing to impress.


Good Debt:

Education loans, investment in business or real estate.


Example:

Sam borrowed KES 5,000 from Fuliza for clubbing and paid back KES 6,500. He now limits borrowing only to emergencies.


External resources 

Fuliza loan terms – Safaricom


 How to Start Saving Money on a Tight Budget


6. Start Investing—Even with Little Money


Where to Begin:


Money Market Funds (MMFs) like CIC, Britam, or Safaricom’s Mali


SACCOs


Government Bonds via M-Akiba


Example:

Nina invested KES 1,000 in a MMF every month. After 12 months, she had over KES 13,000 with interest.


External Resource:

Britam Money Market Fund


7. Learn Financial Literacy


Why It Matters:

The more you know, the better decisions you'll make.


Free Resources:


YouTube – The Financial Diet


MySideHustleGuide 


Budgeting Huck 


8. Build Your Credit Score (Responsibly)


What to Know:

Pay your bills on time, use small loans wisely, and clear debts promptly.


Why It Helps:

Good credit = better chances of loan approval and lower interest rates.


Example:

Felix paid his HELB loan early and was later approved for a car loan.


Resource 

CRB Kenya: Check your Credit Score


Books to Read:


Rich Dad Poor Dad by Robert Kiyosaki


I Will Teach You to Be Rich by Ramit Sethi


YouTube channel 

Kenya Invests

Humphrey Wealth

9. Get Insured (Start Small)


Start With:


Health Insurance (NHIF or private)


Accident or personal cover (e.g., Jubilee or APA)


Example:

Diana got NHIF cover for KES 500/month and avoided a huge hospital bill.


Tip:

Ask your employer if they offer a cover or compare options online.


10. Think Long-Term: Retirement Planning


It’s Not Too Early!

Start small with a pension plan or NSSF.


Why?

Time is your greatest asset. The earlier you start, the more you earn through compound interest.


Example:

George invested KES 1,000/month from age 23. At 53, he’ll have over KES 1.2 million at 10% annual growth.


11.Build Multiple Streams of Income


Side hustles are your best friend in your 20s. Check out this full post:


 Smart Side Hustles You Can Start Today (Even as a Begin

ner)





Conclusion: Start Now, Not Later


Your 20s are your financial launchpad. Small, consistent steps today create massive results tomorrow. Don’t wait to be perfect—just begin. Whether it’s tracking yo

ur expenses or opening a savings account, take one step now. Your future self will thank you.




Call to Action (CTA):


Which tip will you start with today? Comment below—or share this post with someone who needs a financial reset!


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