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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 11
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<PAGE> PAGE 16
SIGNATURE JEROME L. DUFFY
TITLE TREASURER
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<NUMBER-OF-SHARES-REDEEMED> (321,789)
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<NET-CHANGE-IN-ASSETS> 37,197
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 925
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,554
<AVERAGE-NET-ASSETS> 687,919
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1997
SEMI-ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000055189
<NAME> KEMPER MONEY FUNDS
<SERIES>
<NUMBER> 03
<NAME> KEMPER TAX-FREE MONEY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1997
<PERIOD-START> AUG-01-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 776,658
<INVESTMENTS-AT-VALUE> 776,658
<RECEIVABLES> 7,655
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 784,313
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,202
<TOTAL-LIABILITIES> 1,202
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 783,111
<SHARES-COMMON-STOCK> 783,111
<SHARES-COMMON-PRIOR> 729,018
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 783,111
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13,876
<OTHER-INCOME> 0
<EXPENSES-NET> (1,405)
<NET-INVESTMENT-INCOME> 12,471
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 12,471
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12,471)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 399,579
<NUMBER-OF-SHARES-REDEEMED> (357,565)
<SHARES-REINVESTED> 12,079
<NET-CHANGE-IN-ASSETS> 54,093
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,015
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,405
<AVERAGE-NET-ASSETS> 754,694
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .37
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
