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“Prepare for the Storm”: Stella Njunge on Financial Emergency Readiness
Financial emergencies strike without warning, yet many households remain unprepared to weather the storm.
That’s the cautionary message from personal finance expert and the Managing Director, NCBA https://ke.ncbagroup.com/ Insurance Company Limited, Stella Njunge, who recently appeared on Family TV’s Family Matters to share practical strategies for safeguarding one’s financial future.
“We need to treat financial planning like disaster preparedness,” Stella said. “You don’t wait for the fire to start looking for an extinguisher.”
From medical crises and job losses to unexpected bills, emergencies can derail even the most well-intentioned financial plans. But according to Stella, the damage can be minimized, or even avoided with the right preparation.
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Build a Financial Safety Net Before You Need It
Central to Stella’s advice is the need for an emergency fund. “Your emergency fund should cover at least three to six months of your expenses,” she explained. “It’s not just a savings account it’s your financial parachute.”
She warned that living paycheck to paycheck with no savings makes families vulnerable to debt traps and emotional stress when emergencies arise. “If you lose your job today, do you have enough to keep you going for even a month?” she asked viewers.
“You Need to Prepare for the Storm”: Stella Njunge on Financial Emergency Readiness
Insurance, she added, is another often-overlooked safety net. “Insurance is not just a formality, it’s a transfer of risk. If a medical emergency hits and you’re uninsured, the financial impact could wipe out years of savings.”
Whether it’s health, life, or property insurance, Stella urged Kenyans to think of it as a smart and necessary layer of protection.
Personalize Your Plan and Get Educated
While the principles of financial preparedness are universal, Stella emphasized that every plan should be tailored to fit individual circumstances. “Each person’s situation is different. What works for a single professional in Nairobi may not work for a young family in Kisumu,” she said.
She encouraged regular financial reviews to ensure that one’s plan evolves with life changes, like marriage, having children, or starting a business.
Equally important is financial literacy. “Financial emergencies feel overwhelming because many of us aren’t taught how to manage money,” Stella noted. “We have to take ownership of our learning. The more you know, the better your decisions.”
She closed with a strong call to seek professional advice when needed. “You don’t have to do it alone. A financial advisor helps you see the blind spots and plan more strategically.”
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Final Word
Stella Njunge’s appearance on Family Matters served as a powerful reminder: financial emergencies are inevitable, but their impact doesn’t have to be devastating.
“You prepare before the storm, not during it,” she said. “Your peace of mind depends on it.”
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