Cost of living crisis

[Yuletapeli]

@messiahette

We have already said that it is no longer a lot of money even by Kenyan standards. You expect someone to be earning that same amount (because it is ‘alot’) even in 10 years time with a fixed monthly expense of 50k per month? Ten years from now?? Know your worth bro.

You are more powerful than you think. Ubaya ni individualistic mindset. We need stronger labor protections and unions to shake things up.

I agree but hakuna venye naweza jenga buziness empire mtu akuje kuni hangaisha, ntampiga kalamu

[Karoga]

Your employer will Never pay you enough money for you to enjoy the same lifestyle as he does.

[Shaka]

@messiahette

We have already said that it is no longer a lot of money even by Kenyan standards. You expect someone to be earning that same amount (because it is ‘alot’) even in 10 years time with a fixed monthly expense of 50k per month? Ten years from now?? Know your worth bro.

You are more powerful than you think. Ubaya ni individualistic mindset. We need stronger labor protections and unions to shake things up.

It is still a lot of money to earn as an employee, and if there is no recession or stupid govt policies (like those made by Uhuru) it would still be alot to earn as an employee in ten years to come.

[Night-runner]

300k sio kitu kwako?
Haidhuru.

[Tulalamorio]

First I will say that 300k is a lot of money in this country,and if you earn than amount you’re part of the 1% in Kenya.If you don’t believe me,do your own research on Kenyan’s income.Now I agree with you on the cost living,things are going south very first.When it comes to employers;if the company is doing great it’s fare to increase employees salaries.But not all companies are doing great now,some are going through financial difficulties,thus massive layoffs even in the United States.Sasa hii Stori ya kujipanga ndiyo interesting, because if the whole economy is doing bad;that also means your investments are also taking a nosedive.People should have personal financial discipline,but a struggling economy affects everyone,even the Billionaires are suffering,Elon Musk lost over 100 billion dollars in one year.

[messiahette]

@Night-runner

300k sio kitu kwako?
Haidhuru.

It’s a lot to me, but this is not about myself. I’m talking from the perspective of a financial advisor….

[messiahette]

@Tulalamorio

But not all companies are doing great now,some are going through financial difficulties, thus massive layoffs even in the United States.

even the Billionaires are suffering,Elon Musk lost over 100 billion dollars in one year.

Lol, ati billionaires are suffering. :D:D:D
Companies are doing better than ever in HISTORY but they want you to believe otherwise so you can accept slavery. Where did we go wrong in our education system or culture that we accept so little while defending parasites? Companies are laying people off to boost their stock prices because the stock market interprets layoffs as a net positive, not because they are hurting.

[wedogo3366]

@messiahette

Someone once said that ‘300k net is a good salary.’ It’s not. That used to be the case 10 years ago. Many people who supposedly earn ‘well’ are finding themselves caught up in an endless cycle of debt and despair and they can’t figure out why.

It is because what used to be a good salary back then isn’t anymore. Except for very few people, income has not kept pace with the skyrocketing cost of living. Now instead of coming up with workable solutions, the only answer being offered is how to cut spending and of course shaming people to accept a life of living in want. It’s a race to the bottom. Why are companies shortchanging people at a time when executive and politicians pay has outstripped every metric of common sense? That’s the problem in a nutshell. In a dollar-denominated, global economy (we buy fuel in dollars), the cost of living is almost the same worldwide because it’s closely tied to the cost of energy which is only going up. At the same time, currency depreciation is hampering our ability to save for the future. The only country which has such successfully subsidized COL is India because they have a trifecta of high population, low taxes and lax regulations. It’s high time people put their employers to task by demanding higher pay.
End of rant.

since almost everyone see there is earning less than 300k net, you can afford to say that it is a lot of money
for the average salaried person earning that, the money is little
you need upper management jobs or niche jobs to get the salary (so you are in late 30s-40s)
by then, ushaoa and uko na several kids hii nairobi
You want to drive a good big car (financed of course 30-60k gone to financier), live in a good estate courtesy of wife’s pressure (around 50-70k rent/mortgage), take kids to expensive private or low-end international schools, enjoy good living standards, expensive vacays every year, take regular outings (costly), upkeep for wife if she 's not working … your family and inlaws may be depending on you since you earn a lot
You become a slave to your job to sustain the lifestyle
At the end of every month, you save around 50-100k… job ikiisha, you are fucked and wife is gone with the kids

For a single, financially-wise young man, 300k net can do wonders

[Tulalamorio]

@wedogo3366

since almost everyone see there is earning less than 300k net, you can afford to say that it is a lot of money
for the average salaried person earning that, the money is little
you need upper management jobs or niche jobs to get the salary (so you are in late 30s-40s)
by then, ushaoa and uko na several kids hii nairobi
You want to drive a good big car (financed of course 30-60k gone to financier), live in a good estate courtesy of wife’s pressure (around 50-70k rent/mortgage), take kids to expensive private or low-end international schools, enjoy good living standards, expensive vacays every year, take regular outings (costly), upkeep for wife if she 's not working … your family and inlaws may be depending on you since you earn a lot
You become a slave to your job to sustain the lifestyle
At the end of every month, you save around 50-100k… job ikiisha, you are fucked and wife is gone with the kids

For a single, financially-wise young man, 300k net can do wonders

So in this case 300k is not enough because of your own lifestyle, but in Kenyan standards; it’s good money.The same happens to NBA and NFL players when they retire,they go broke five years after retirement.They want to live like the King of Saudi Arabia with their million dollars contract.They can’t differentiate wealth and a good income.But once they retire, that’s when reality hits them.So if you earn 300k in Kenya,live like somebody who earns 300k.The money is not enough because of your own standards and lifestyle,the same can happen to someone who earns 2M a month,if they decide to live like a wealthy billionaire.But in Kenyan context,300k is good money.

[FirstBornOfEight]

When You earn 300k, the black tax you pay quickly erodes that value. The richer you are , the more mouths you have to feed, albeit 30% PAYE, 100k tax so Net is kitu 200k, you have 2 kids and a jalopy and that sacco loan and that consolidated deelopment loan coz you had to build a house at home also where you got transferred. Your very good maid had a kid soo unamlipa kitu 15 to 20. Dont forget insurance on car, house and health. end month only the 40 k is is remaining. unarusha kwa shares safaricom tanks and you wait for next salary. REPEAT