STEADY RIDES, STEADY CASH: SMOOTH OUT YOUR UBER HUSTLE WITH A MONEY MARKET FUND

By Dennis Nyaga

Being your boss on the Nairobi roads? That’s freedom. You set your hours, decide your routes, and chase your own goals.

But let’s talk about the not-so-glamorous side, inconsistent income. One week, you are cruising with back-to-back rides, and the next, the app is as quiet as Uhuru Park on a Monday morning. If you're tired of the financial ups and downs, it's time to get smarter with your hustle. A Money Market Fund (MMF) could be just the support system your bank account needs.

Why Every Uber Driver Needs a Financial Co-Driver

A Money Market Fund is a low-risk investment option that lets you save while earning. Unlike a normal savings account that barely grows, MMFs help your cash generate returns daily, while still being accessible when you need it.

Here’s how it fits perfectly into your gig economy lifestyle:

1. Emergency Backup? Sorted.

Let’s face it - life happens. Maybe your car breaks down, or there's a medical emergency. With an MMF, you have a place to park extra cash after a productive week, building a buffer that’s easy to withdraw when things go south. Think of it as your financial spare tyre, always ready when you hit a bump.

2. Your Hustle, Your Pace – But Smarter

Some months, income is lit. Other times? Not so much. Instead of spending everything when the cash is flowing, set aside a portion in your MMF. Even KES 500 per week adds up. When rides are slow, your MMF becomes your financial safety net, helping you stay steady without borrowing or stressing.

3. Let Your Money Hustle Too

Your time behind the wheel earns you money; let that money do the same. A Money Market Fund typically gives you better returns than a current or savings account, with low risk and easy access. It's not about becoming a millionaire overnight, it's about making sure your money is always on the move, just like you.

4. It’s Flexible – Just Like You Need It to Be

MMFs give you the flexibility to deposit and withdraw at your convenience. There’s no need to tie up your money for months. Whether you’re saving for fuel, car service, or family bills, you can withdraw quickly without jumping through hoops.

5. Build Towards Bigger Goals

Dreaming of upgrading your vehicle? Starting a small side hustle? Taking a short break upcountry? Your MMF can help you save intentionally towards bigger plans. It’s not just about survival; it’s about building stability and working towards your future.

How to Start? It’s Easier Than You Think

With CPF Asset Managers, opening a Money Market Fund account is simple. You don’t need thousands to get started, just the discipline to begin. Whether it’s a few hundred bob or more, every deposit gets you closer to financial freedom.

Pro Tip:

Automate your hustle. After a good day or week on the road, decide on a percentage (say 10%) to automatically send to your MMF. That way, you’re growing your fund without thinking twice.

Drive Smart, Save Smart, Hustle Smarter.

Being a gig worker comes with unique challenges, but it also offers the opportunity to take full control of your money story. A Money Market Fund is a small step with a big impact, keeping you steady even when the road ahead is bumpy.

Ready to have a more predictable financial ride? Check out Money Market Fund options with CPF Asset Managers. It could be the smart move for your hustle.

The author is an officer in the Business Development and Portfolio Management at CPFAM