We all want to live well, provide for our families, and avoid the stress that comes from money problems.

But lasting financial success doesn’t happen by accident. You need to make smart money decisions, foundational moves that you practice again and again.

Whether you live in Kigali or the countryside, are an employee, business owner, or student, here are seven money moves to build a more secure future.

These strategies combine time-tested Rwandan wisdom with modern financial principles to help you create wealth, reduce stress, and support your family and community.

1. Save Before Spending

Purpose: Create a Cash Cushion

Whenever you receive income, set aside money for emergency savings before doing anything else. This small but powerful habit ensures you’re building a safety net.

Rwanda’s culture of ibimina (savings groups) already encourages collective saving. Take it one step further by consistently stashing money into your own personal emergency savings account too.

How to Do It:

• Save 10% of all income before spending

• Automate transfers to a dedicated emergency fund in a bank account or using mobile services like MTN MoMo or Airtel Money

• Gradually build three to six months of living expenses over time

As the proverb goes: "Uwubaka akubaka mu gihe cy'izuba” — "Build while the sun shines.”

Think of your personal savings account as your financial "roof”before the rainy season. Saving first protects you when storms arrive.

2. Pay Yourself First

Purpose: Prioritize Your Goals

Having money on hand to deal with emergencies is a good start. But it’s not the only reason you need to save. You also need savings to fulfill your future ambitions.

Before you pay others—landlords, lenders, merchants—set aside money for your future plans and goals. This habit, known as paying yourself first, is key to achieving self-reliance (kwigira).

How to Do It:

• Start small, even with Rwf 1,000 to 5,000 a week

• Keep the funds separate from daily spending accounts to avoid temptation

• Establish a separate savings account that receives money automatically with each paycheck or mobile money transfer

By accumulating money over time, you’ll make steady progress toward reaching your goals, whether that’s buying a car or home, traveling, starting a business, or funding education expenses.

3. Multiply Your Income

Purpose: Diversify Your Earnings

Don’t rely solely on one job or one harvest. Secure households often have three to seven income sources. Based on your skills, consider ways to add more income streams, especially if your main income is seasonal.

How to Do It:

• Launch a side hustle in tourism, tech, tutoring, or whatever talent you have

• Sell handmade goods (baskets, crafts, soaps)

• Rent a spare room or land parcel

• Explore remote or freelance digital jobs

Like traditional farmers who raise both livestock and crops, diversify your money sources. Rwanda’s economy is transforming—from agriculture to technology, tourism to finance.

You should diversify, too, because multiple income streams reduce risk and build wealth.

4. Track Every Franc

Purpose: Know Where It Goes

You can’t measure or control what you don’t track. If you feel like you’re always living hand to mouth, create a solid monthly budget to get a better grip on your finances.

How to Do It:

• Write down all income and expenses

• Separate needs from wants

• Adjust as needed, eliminating discretionary items, to cover shortfalls

You can use free online tools, mobile banking apps, or even a small notebook as long as you’re diligent about updating it.

Remember: budgeting isn’t about restricting yourself. It’s about empowering yourself by being intentional about your financial choices.

5. Invest in Your Future Self

Purpose: Plan for Retirement

Less than 15% of Rwanda’s workforce is covered by formal pensions. However, if you don’t prepare for your eventual retirement, who will?

How to Do It:

• Contribute to the Rwanda Social Security Board (RSSB) if you’re a formal employee

• Join Ejo Heza, Rwanda’s Long-Term Savings Scheme, if you work in the informal sector

• Invest in appreciating assets like land or housing

• Consider investments in mutual funds or companies listed onthe Rwanda Stock Exchange for long-term growth

Even modest, consistent investments can grow over time. Start small, but start now. Understand how compound growth can multiply wealth over decades.

6. Insure What You Can’t Afford to Lose

Purpose: Protect Yourself and Your Family

Injuries, illness, or accidents can derail your finances. That’s why insurance matters.

Use insurance and proper documentation to protect your family and assets. If you own land, make sure you have a land title. If you have dependents, consider life insurance.

How to Do It:

• Enroll in Mutuelle de Santé (community health insurance)

• If you’re a farmer, explore the Sebahinzi agricultural insurance program

• Look into affordable life, property, or disability insurance options

• Join cooperative insurance plans if available

Don’t let one accident or unexpected loss erase years of progress.

7. Teach Children Early

Purpose: Help Raise Financially Smart Kids

The next generation will carry Rwanda’s prosperity forward. Even if you don’t have children of your own, you probably have children in your sphere of influence: nieces and nephews, youth in the neighborhood, or kids at your place of worship. Prepare them now.

How to Do It:

• Give pocket money and teach saving habits

• Involve kids in household budgeting

• Help them open youth savings accounts

• Share lessons from your own financial journey

Traditional inheritance practices (kuraga) emphasized livestock or land. Today, financial literacy is one of the greatest gifts you can pass on.

Making these seven smart money moves isn’t just about personal prosperity. It’s about building intergenerational wealth and contributing to Rwanda’s Vision 2050 of becoming a high-income nation where financial security is within reach for every family.

Lynnette Khalfani-Cox is a personal finance expert, speaker, author of 16 books including the New York Times bestseller "Zero Debt,” and the founder of TheMoneyCoach.net. She and her husband Earl Cox are expanding their financial education firm in Rwanda to support financial literacy, economic, and entrepreneurship initiatives.

"Money Moves is a bi-weekly column providing practical wisdom and strategies for building wealth and financial security in Rwanda's evolving economy."