*Like I said in, in my previous post **https://ecency.com/hive-167922/@wamiru/from-paycheck-to-paycheck-to**, saving on a low income, even when viewed as a hard task, can be as simple as **1, 2, 3**.  By starting off with tracking your expenses, to cutting off some extra costs to boost your savings, to budgeting and making sure you at least save that **500 KES**. Well, as promised am back with some tea. So gather around as I spill it.* 

![](https://images.ecency.com/DQmPVDS7QvaafqRStHZ2L7556GPgCrJK3UUWRdtepmCTNi8/img_20250225_wa0004.jpeg)


**WHERE TO SAVE ON A LOW INCOME IN KENYA?: MMFs ARE YOUR BEST BET.**

We often opt to save on **M-Pesa** wallet - I am no exception. But we can agree that saving there is more like charity work for Safaricom. Whenever we have money in there, all it does is scream *“use meeee”* and then we end up back to square one. Am not saying M-Pesa is bad, it’s actually our best money wallet, but is it really smart saving there? I’ll leave that question in your court.

My focus today is a smarter way to save;* **Money Market Funds (MMFs)*** - a place where your money chills and grows instead of disappearing into impulse buying and Fuliza debts.

![](https://images.ecency.com/DQmNx8VskzNbP4DqrKXjG6qjiuPorcKT44dH9g5ZsLm6TL5/screenshot_20250328_140332_2.jpg)


**What’s an MMF anyway?**

You know the phrase let money work for you? Well, an MMF is a platform that gives you that opportunity when you invest with them. Unlike **Mshwari** and **M-Pesa**, where your money can sit for months or even years without earning any significant amount, in MMFs it grows daily with their daily interest. This means if you put your **500 KES** in MMF today, it’ll earn you more than what M-pesa or Mshwari would ever do.

**Why MMFs?** 

*“I am broke,” “I can’t afford 500 KES a month.”* Well here’s why MMFs are your best deal even when you’re on a low income or broke:
**1.** **You can start absolutely small** – some MMFs let you start with as little as **100 KES**. Yes I said that right. Instead of saying *“100 KES can’t buy me Ferrari”*, which is true, and spending it on bundles or snacks, MMFs are open to let that 100 KES work for you.
**2.** **Your money grows** – yes even that little 100 shillings will earn you interest on MMF that can’t be earned on Mswhari. Even way better than the banks can pay you.
**3.** **Easy withdrawals** – you can use them as emergency funds where, when needed, withdrawals are easy and smooth. They don’t lock your money and it’s accessible in 2-3 working days. And the good part, the money you leave in there will still hustle some other monies for you.
**4.** **It’s safer than the cash stashing, or the piggy banks** – MMFs are regulated by the **Capital Markets Authority (CMA)** so do not fret that it is a scam.

![](https://images.ecency.com/DQmcchRsRoWvuNRKrUBNRNRCerwgjHbyoM6T4TL9fzQ5udQ/screenshot_20250328_135908_2.jpg)


**Where to put your money?**

Well I did some heavy lifting for you. In my quest for how to save money even when earning low income, I came across some solid MMFs in Kenya that work well for young hustlers like us:
**1.** **Etica Capital Money Market Fund**
✓**Start with**: as low as 100 KES.
✓**Interest**: ~12-14% p.a. (*one of the best in the game*)
✓**Best for beginners and aggressive savers** who want their money to grow faster. Easy to use and accepts M-Pesa.

**2.** **Zimele Money Market Fund**
✓**Start with**: as low as 100 KES.
✓**Interest** ~9-10% p.a.
✓**Best for beginners** - easy to use and accepts M-Pesa.

**3.** **Britam Money Market Fund**
✓**Start with**: 1,000 KES.
✓**Interest**: ~ 9-10% p.a.
✓**Great for flexibility** – fast withdrawals and reliable.

![](https://images.ecency.com/DQma3GhsAiHzRd6C5gWRY9rzmj8JYHuWkdRE2CACEdMf1hb/screenshot_20250328_140002_2.jpg)


**4.** **Sanlam Money Market Fund**
✓**Start with**: 2,500 KES.
✓**Interest**: ~11.9% p.a.
✓**Good for goal based savings** – like rent or school fees.

**5.** **CIC Money Market Fund**
✓**Start with**: 5,000 KES.
✓**Interest**: ~11% p.a.
✓**Good for serious savers** – who want their money to work harder.

***(P.S. these interest rates change, please check before investing)***

![](https://images.ecency.com/DQmTqDvetaKGAuadrzbMtzB2M71oeoULvNYWwxUAyJ5cUDe/screenshot_20250328_140040_2.jpg)


**How to open an MMF?**

Maybe you’re thinking that opening an MMF is complicated. That you’d rather let your money sit in the bank or transfer it to Mshwari or put that cash in a piggy bank. *Naah!* It’s *waay* easier;

✓Pick an MMF (**that feels right to you**)
✓Go to their website and **fill in a short form**.
✓Upload a few docs ( **ID, KRA PIN, proof of residence- simple stuff**)
✓Deposit money via M-Pesa or bank transfer.
✓Start earning daily interest while you chill.
*Easy, right?*

**How to get the most of an MMF?**

Now that you are set, we can look at ways of making that money grow. Money attracts money, right? 

✓**Water your investment (*Set a weekly/ monthly deposit goal*)** - even that 100 KES a week adds up. If you manage to cut expenses by 100 KES give your savings a boost. 
✓**Re-invest your interest** – instead of withdrawing your money let it compound. More money in the account=more interest earnings.
✓**Set goals** – rent, fees, emergency funds- things that matter.

![](https://images.ecency.com/DQmRWotsPim8WrwW6e9tANoYbt1sXqZmuLu5b48TWp2U8N4/screenshot_20250328_140236_2.jpg)


**Get away point: your shilling, your future**.

Being broke is hard and stressful but, staying broke? - *That is a choice*. If you can afford to blow away **500 KES** in a club on the night of your payday, *in the name of appreciating your efforts of the month*, you can afford to save in an MMF.

The goal is not to save because it is the “*right thing to do*” – it’s more because **you want options**.

Imagine waking up one day and not stress about money. Imagine affording things without borrowing from friends or Fuliza or asking for advances.

*It’s more about building wealth rather than just surviving; paving way for your future generations*.

*Your future self is waiting - don't keep them broke.* Pick an MMF and start with as low as 100 KES. **What's stopping you?**

***Disclaimer: I am not a financial advisor and all I share with you is based solely on my experience in the financial struggle world. Before investing, kindly do your research and invest according to your goals**.*


Photos are screenshots from their respective websites.
Screenshots by me. Except the coffee. I took that with my phone.