“My salary is never enough. Immediately it hits my account, it always seems like it just disappears. My concern is that I may be earning less than what I need to get by. Please advise,”says Jane Mwandawiro via email.
This is a common problem among working professionals in Kenya. It is always the norm for the salary to be pre-budgeted for such that when it eventually comes, no shilling is left. Two weeks later, you are broke and wondering who will loan you money.
The following are the reasons why money will never be enough for you and will not get rich anytime soon.
Reasons you are always broke
1. You are an impulse buyer
Are you the type of a person who buys anything and everything on a whim? Are you ‘philanthropic’ with your spending? If your answer is yes to both questions, then you are an impulse buyer and you need to change.
In order for your money to work for you, you need to have a budget of necessities. The general rule here is to disregard everything that you can do without.
2. You do not have savings
Do not always spend everything in your account. This is a sure way to make yourself always broke and seeking for loans.
You need to work on your saving skills. This is because you cannot predict the future. A wise professional will invest in the future.
3. You are very philanthropic
Do your friends or relatives always seem to call you when it is payday and make a million demands? Do you always feel compelled to help even when it does not favor your pocket? You need to stop.
Despite the fact that it is good to help your family, you should not do it at the expense of your own needs. If you are unable to help, simply explain to them that you are unable to help , but that you may be of assistance at a later time.
4. You are always taking loans
Do not get me wrong. Loans are vital to personal growth and development. However, if you are always taking loans even for the smallest of things, you will always be broke. It will greatly depress you when you go to your account and realize that after paying back the money you owe,nothing is left.
Learn to live only within your means. When you can make do with what you have, avoid taking loans all the time.
Source:Nairobigossip
