Post

@morganhousel

More from @TheAbojani

Abojani Investment 🇰🇪🇺🇬🇹🇿

@TheAbojani

Apr 14

Financial Management in Your 20s🧵🧵

Your 20s are weird. One minute you have your ducks in a row and the next you don't even know what you want!

They say 20s are foundation years. These are 'street-fighter' years...the time to put your best foot forward and work hard in order to secure your 30s, 40s, 50s and even 60s.

Whether you're just starting out or trying to get your money life together, managing your finances early can be a game-changer.

Here’s a super simple guide to getting your money right in your 20s....

1⃣Know Where Your Money’s Going

Start with a budget, but don’t over-complicate it. Track your income, then track your expenses. A simple pen and paper will do.

Budgeting doesn't mean being stingy. It means knowing how your money is flowing in and out.

2⃣Build an Emergency Fund

Life happens. Life is very unpredictable. Your job is not as secure as you want it to be.

As a rule of thumb, save and invest at least 6 months of your expenses in a liquid fund that is, money market funds.

Read 8 tweets

Abojani Investment 🇰🇪🇺🇬🇹🇿

@TheAbojani

Apr 3

#AbojaniTrueStorySeries

MY GIRLFRIENDS, MY MONEY, AND I🧵🧵

I’ll never forget the first time I realized I had a problem.

I was sitting at my favorite corner café in Nairobi town, scrolling through my phone.

My bank balance stared back at me, a cold reminder of the very bad choices I had made.

I knew the number by heart. I had memorized it for weeks because, quite frankly, it was all I had left, after being the ‘Minister of Enjoyment’ for the better part of my adulthood.

That time, I had just spent the last two months’ salary, and I had nothing to show for it—nothing except a few extravagant dates, a handful of designer gifts, and a couple of vacations to places I couldn’t even pronounce.

I remember thinking…..“What the hell am I even doing?”....

This wasn’t the first time it had happened, and it sure as hell wasn’t going to be the last.

I was once 25 and thought I had the world in the palm of my hand. I had just landed a solid job as a mid-level manager at a tech firm. I wasn’t wealthy, but I was comfortable. And in my mind, being comfortable meant I could live a little

And live I did.

Maybe in excess but we live and learn, yes?

There were the dinners, the weekend getaways, the spontaneous trips to Zanzibar, the latest gadgets, the lavish birthday parties—I had it all. Or at least, that’s how it seemed.

Looking back in hindsight, the common thread through all those experiences wasn’t the joy I derived from them. No, it was the woman I was dating.

They were the center of it all. And it wasn’t just a couple of relationships. No, I had multiple girlfriends during these years, each one vying for my time, attention, and more often than not, my money...

Read 16 tweets

Abojani Investment 🇰🇪🇺🇬🇹🇿

@TheAbojani

Apr 2

#AbojaniTrueStorySeries

IT TOOK ME 24 YEARS TO FINALLY BECOME FINANCIALLY DISCPLINED 🧵 🧵

It’s my 49th birthday next week and I do not know what I feel about being only 1 year away from 50!

I started working at 23 as a banker, somewhere in Nyeri.

If there’s one thing I’ve learned in my 48 years, it’s that life has a funny way of teaching you lessons when you least expect it.

If you’d asked me when I was 24 what my life would look like at 48, I would’ve told you something completely different.....

When I landed my first “real job” in the bank, I was fresh out of university, I was eager to prove myself, ready to work hard and climb the ladder. The job was an entry-level position, but to me, it was everything.

My first paycheck was a moment I’ll never forget. I walked into that office feeling like I was on top of the world. I thought I was rich!

I remember heading straight to the nearest mobile shop to buy my first phone (one of those chunky siemens phones🤠)

It wasn’t much, but it was mine. It was a symbol of independence, of adulthood.

That whole month, I was broke as a church mouse, but at least I had a phone!

I still laugh when I think about it. My friends and I would show off our phones like they were the latest gadgets, even though they were barely functional compared to today’s smartphones. But back then, that little phone was everything. It was the start of something new.

By the second month of my job, I had moved out of my parents’ house. I didn’t want to be “the guy who still lives with his mom” at 24, even though my parents were always supportive. I rented a small, rundown single room somewhere near the town center—small enough to be affordable but big enough to feel like a step up from my childhood home.

It was just me, my phone, and a whole lot of dreams...

Read 18 tweets

Abojani Investment 🇰🇪🇺🇬🇹🇿

@TheAbojani

Mar 8

#AbojaniTrueStorySeries
I CUT BACK ON BEER, GIRLS AND SAVED A MILLION 🧵

I am a happily married man with two children. So I will share my story but keep my identity hidden, that’s the only way I will explain how I joined the @TheAbojani One Million Challenge and made it.

Let me start with a question. Have you ever seen an empty swimming pool? Now imagine being asked to fill the empty pool with water, using a spoon. Now that was my relationship with saving money. No matter how hard I tried, it was just impossible. Anytime I tried saving for a rainy day, it started raining after one hour!

Anyway, let me give you a small background story. I am in sales at a logistics company. My retainer is just Sh 20,000, but on a bad month, I can make Sh 70,000 on commissions. On a good month, it goes up to Sh 170,000. On average, I go home with about Sh 110,000 monthly.

My wife works as an administrator at a construction company and brings home Sh 35,000. She takes care of house help and grocery bills. It's never more than Sh 16,000. I pay for school fees, rent, and other bills, and of course, I work hard so lazima nipigie mwili pole kila weekend, like a typical Nairobi man.

Sasa, hii Nairobi iko na mambo. You can give your neighbor a lift to town in the morning, but by noon, he will call you for lunch and come pick you up while driving a Benz. Now that’s what happened to me. A cousin met me for lunch and as we were done, he took me to his car and opened his laptop bag. It had bundles of money, about three million. He told me to touch the money so that one day I can say ‘nishawahi guza one million na mkono yangu!

Read 18 tweets

Abojani Investment 🇰🇪🇺🇬🇹🇿

@TheAbojani

Mar 8

From Betrayal to Financial Wisdom: My Kin Almost Killed Me

When I first moved to Australia in 2015, I was full of ambition. I had worked hard, saved up, and paid an agent to help me get a caregiving job in Perth.

I had two main goals: take care of my little sister and invest back home.

1/7

By my first year, I had saved up Ksh 400K, I had never seen such money in my life. At the time, owning land was the ultimate investment, and I wanted in.

I reached out to my uncle, my late mum’s brother, who I trusted, and asked for his help in acquiring a piece of land.

He agreed. I sent the money. He gave me updates. He even sent pictures of the plot.
2/7

Everything seemed perfect. Over the years, I worked hard, saved more, and continued sending him money to build a house. I was securing a future for my sister and me.

Then, in January 2018, I flew back home, excited to finally see what I had built.

The first red flag came when my sister said her uncle only took her out for shopping and nyama choma once in a while. I wondered why he wouldn’t take her to see the project.

3/7

Read 7 tweets

Abojani Investment 🇰🇪🇺🇬🇹🇿

@TheAbojani

Feb 28

#AbojaniTrueStorySeries
I MOVED FROM DEBT TO STABILITY IN MY 30'S 🧵🧵

I started working at 25 years old.

I can say I 'caught' money earlier than most men in this Nairobi. I bought my first car way ahead of my peers and I even married the first.

By 30, I had a stable job as a project manager with a mid-sized construction company somewhere in Westy, earning enough to take care of my family and live comfortably.....

For most of my life, I thought I was doing well financially.

But behind the scenes, things were not as perfect as they seemed. I had no real understanding of financial discipline, and it cost me dearly

You see that my first car, I bought it on credit, of course. I thought it was an exciting milestone. A car meant success, right?

What followed were a series of small, reckless financial choices: high-interest loans, credit cards, and lifestyle expenses I didn’t need. I convinced myself that everything would work out because I had a steady paycheck...

Read 12 tweets

Share this page!

Enter URL or ID to Unroll

Abojani Investment 🇰🇪🇺🇬🇹🇿

Try unrolling a thread yourself!

More from @TheAbojani

Abojani Investment 🇰🇪🇺🇬🇹🇿

Abojani Investment 🇰🇪🇺🇬🇹🇿

Abojani Investment 🇰🇪🇺🇬🇹🇿

Abojani Investment 🇰🇪🇺🇬🇹🇿

Abojani Investment 🇰🇪🇺🇬🇹🇿

Abojani Investment 🇰🇪🇺🇬🇹🇿

Did Thread Reader help you today?

Don't want to be a Premium member but still want to support us?

Send Email!