Niko hapa kwa biashara and since it’s end month am balancing my books. Na hii mwezi imekua poa sana 450k profit (after costs and employee salaries).
There was time nilikua msoto(kitu 8 years back) I used to live in a single room paying 2k a month na karibu nifungiwe nyumba and i had no idea i would achieve this kind of income, mind you am in my mid-late twenties. During this time I developed habits that have stuck with me, I cook my own food, madem walikua hawaniongeleshi so I mind my business now as a rich man, learnt to live with less e.t.c
Am not a big spender and my monthly expenditure including rent iko hapo 85k the rest goes to savings, investments and expanding my business. This made me think that you can survive anywhere in kenya with 10k a day that includes nairobi karen and lavington in fact i would argue no one in kenya needs more than 300k a month to get by, beyond this income you are pursuing pleasure.
This income puts you
In top 0.01% of earners in the country(remeber only 1% makes above 100k )
Allows you to pay rent in the 30k - 90k range(can afford a 1brm in kileleshwa karen and lavington)
Allows you to afford a 3mill+ car(save 100k a month for 3 years).
Can buy a 5 mill+ plus land(in prime areas like nyeri and muranga) in 5 years with savings.
Capable of building your own palace with a 10 year savings.
With good investment strategy retire within 2 decades of consistently making this income
As long as you do not overspend in pleasures you should be very very comfortable with this income.
for me:
I live in a small town( average income huku ni around 30-50k).
Rarely drink( maybe thrice a year, for a yearly cost of around 9k).
Drive a small car(750k brand new price).
Cook my own food.
Most important of all am a bachelor who minds my peace. Na madem wahuku sikama nairobi if you spend 5k on her a month atakuabudu kama mungu
If am disciplined enough I might retire before 40 with enough invested in properties and stocks to carry me towards old age.
Remember money is how you manage it not how much you earn avoid alcohol, women, pleasures, keeping up with the jones(live modestly) and invest smartly na pesa haitaisha.
I also came to this conclusion when my business was in its prime. It’s only when I experimented with becoming a sponyo to multiple ladies that I managed to spend 300k for a couple of months. In Nairobi you will be comfortable with around 60k for every person in the house.
Bana. You would think that if you give a woman a nice monthly stipend that will be the end of the story, but they just keep increasing the demands. It’s like they want you to not only pay bills, but fund all their hopes and dreams in life. After two months mmoja aliniambia nimnunulie containers mbili akuwe landlord wa stalls and that’s where I quit the sponsor game. You really need to have some serious oneitis to be a sponyo in the long term and I’m too arrogant for that
Fair point. But why are you feeling so entitled to police people’s money? If I make 10M a month and waste 9.9M, shouldn’t you be worried about your lack of ability to make more than 300k a month?
Kuongea ukweli for a family of 5 people in Nairobi you can survive on 150k comfortably and easily bila kuhesabu savings/investments. Hata sio 300k. Key word is survive, not be a baller.
But humans are not created to just survive. That’s why hata 1M itaisha if you want the extra extra soft life uendee mansion Gigiri ama Nyari and live like those Wazungus. At that level hiyo 300k ni rent pekee ya mansion. International schools, sports clubs like wadi degla, golf club, expensive hobbies like horse riding, eating out at high end restaurants/hotels, etc. There is no shortage of where to spend the money even in KE. Na hata ukifika hiyo level the international scene will start calling uanze kuona you should be on a yacht in Dubai and not in some swimming pool at a resort along the Kenyan coast. The pursuit of happiness using money never ends. It continues all the way to owning private jets, sports teams, and yachts which are just floating mansions.
What is life??? Maisha ni bure sana buda. You avoid all that and die tommorow, hiyo yote yenye umeacha kins wanaaribu kwa hizo vitu you avoided. Personally sijafika level ya financial freedom, lakini pia siko mbaya, niko na kakitu. I can never live life with limits , kesho sijui vike itakuwa. Niko hiyo age bracket pia
We have been there.