We all know that ‘mwezi ikipiga corner’ half of the Kenyan population is broke. This is when each of our pals will begin a sentence with ‘hiyo lunch niaje?’ or ‘si you organize fare’. If you have a car then its time to reverse it back into the pavement in front of your modest 2 bedroomed home (You may claim it’s a garage but we both know that its not). This is also the time when you move away from the 200bob lunch and back to mama Fatuma’s “Kila Kitu chini ya Mia’’. You sit on a wooden rod in the name of a bench, sweat bullets and munch on a piece of meat that you would never dare to know how it was cooked or where it came from. You say, “hata kama ni ya punda…” You stay at work late to avoid the high costs of fare during the rush hour. The home pub becomes your heng joint because beer is 100bob. For women, carrying a home-cooked meal becomes the main reason why you have a big handbag – accessorizing is second. You remember that the master’s degree you are after can’t be studied for after a night of partying and the library becomes a hangout joint. The fleetingly interesting and cute men who always seem to be interested in looking at your boobs or even your ass when you talk become a playful resource. Your ‘hire’ your sister or best pal to wash your own hair. Your old wardrobe gets to feel the warmth of the sun again. These are a few of the woes that face the Sonko generation.
This is only half the picture though. We have the Y-not chromosome; the hustler’s ambition, We-Do-Anything Incorporated. An outfit that symbolizes our hunger to find a way to either do a job that we have little or no skill in or when push comes to shove, sub-contract it. It isn’t that we are jobless. We just have two jobs; the employed office job that pays the rent and the side-hustle that pays for the ever-increasing cost of beer and other forms of entertainment. A few have succeeded in making the latter cater for rent. Despite this we still borrow money and stay in perpetual need for soft loans from our peers… Why? Let’s face it! This is a capitalist nation. We want a taste of the good life and like it or not we have to pay our high taxes without failure at the end of each month.
When you are a young achiever with ambitions of becoming a high-flier with mileage, there are certain things that you must have and do. Car, a sweetie, land, postgraduate qualification etc but not necessarily in that order of priority. Getting in debt is more of a necessity rather than a fault. If by the this time you don’t have a close companion whom you’ve given your heart to then probably getting the right one will involve deep scrutiny of every potential lady or man that borders on paranoia.
With that in mind, it is tricky to distinguish where all money will go. Will it be for business or pleasure? I bet that half the time the latter will win because your family, friends and enemies think that you are a high-flier and will associate you with an above average lifestyle. Welcome to the conundrum that the young middle class face!!! BMF-Blowing Money Fast.
The solution is to always borrow to invest. Of course you need to be smart about it. Only ask for a soft loan when all business fundamentals have been considered and pay-off is assured. Keep strictly to that principle and you’ll have a healthy balance sheet. Consider a bank, it (or should I use she…hmmmm..) loans to customers and that is considered an asset rather than a liability. This is because interest will be earned. Operate your cash flow in the same way. Occasionally you’ll have to woo the client who in this case is you. You’ll reward yourself for a job well done. Party hard-whether it simply involves giving thanks to your maker or hanging out with friends at some odd place-do it.
Save! Save! Save! I know many pals who simply cannot do it. The best way to save is to have set a goal. If you have a reason why you are placing a few coins away yearly, monthly or daily then you’ll be able to control your spending. Save for something that you have a passion for. The top thing in your action plan that you know for sure will inspire you to do more. Save for land, business, house, a car, good furniture etc. It works! You’ll buy things that people wouldn’t ordinarily expect you to purchase because of their high value. There’s nothing more satisfying than enjoying the fruits of your labor. I realized in campus I used to save but always blew all my money in partying because well, most of it wasn’t my cash and I had no specific targets. Even when you don’t seem to have a clear goal, set one. No matter how trivial it may be.
PS: Healthy debt is borrowing but at the back of your head you know that you will reap interest after paying back promptly.
