Where to keep it

Your emergency fund has three jobs: be safe, be quick to reach, and earn something while it waits.

• A money market fund is a popular choice in Kenya: it is low risk, usually lets you withdraw within a few working days, and earns interest daily.
• Keep it separate from your everyday M-Pesa or current account, so you are not tempted to spend it.
• Avoid locking it into anything you can't access quickly, like a fixed deposit with penalties, land, or shares you would have to sell at a bad time.

Keep a small amount (a few thousand) in M-Pesa or your bank for true same-day emergencies.