Have you ever wondered why some individuals, especially those living in Nairobi's middle class estates, work day and night, 5-7 days a week throughout the month and years but still have nothing to show out of their work? This article will focus on one major miscalculation that most Nairobians make that renders them all-time broke in spite of long working hours and fair payments. This mistake is poor housing or rental cost decisions.
Several Nairobians make very poor calculations with the little they earn, and this begins with the cost of houses they rent. You'll find an individual earning 20k a month living in a house worth 15k. This leaves them with 5k to spend on transport, food and other bills through out the month. In most cases, these people never save a single cents and are usually surviving on debts. These are the same people who take huge loans and spend most part of their lives servicing those loans and bills and nothing for themselves.
One of the biggest problems with Nairobians, especially young people when starting up their own lives, is failure to reconsider their financial decisions. Someone would want to begin their life in some Modern buildings in for instance Umoja Estate or some other middle class estate without considering other available options that would easily be accommodated by what they earn. These individuals start being broke even before considering having a family. And when the family finally comes, they are forced to relocate or continue living on debts, with many preferring the latter.
I don't think it is advisable to use half of your salary or total monthly earnings for just a single bill, rent. If you earn 20k, at least consider renting a house worth like 5k-7k. You can as well consider the cheapest house you can afford to live in, until you can comfortably pay more as rent and still service other bills with ease and be able to save at the same time. Don't spend rest of your life paying bills to be considered successful or to be validated. It is not a wise move.
Content created and supplied by: HapoNews (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More