cheruiyotkb Profile picture
Dec 26 9 tweets 3 min read
Family gatherings discuss everything else but finances. That uncle who took your certs & a badly written CV many years ago & went mute is no longer the richest among you. The renegade brother whom everyone loves to hate is richer. All are too proud to ask him how he did it. >>
Nobody knows that sassy sister Suzzy owes her brand new Mazda to a Mubaba. Her salon business can't guarantee that, at least not now. Kimani is lost in thoughts suffering in private, thinking of the loan cash he lost to land scammers last month. His daughter Jeni sat her KCPE. >>
Njenga raises the subject of repainting the faded iron sheets, replacing the old furniture and digging a new pit latrine to replace the one that'll fill soon. All eyes turn to Sofia, the first born. She's good with planning. She promises to form a WhatsApp group. >>
Everyone gladly agrees, pleased to put these issues behind them, for now. Samuel snores throughout these discussions. Everyone knows he's hanging onto his clerical job at Public Works by a thread over his love for the bottle. His wife took the children to her folks in Mweiga. >>
Githu, a teacher, has been telling them about a table banking idea for the family. They all seem to agree on everything else - contributions, dates, dividend sharing - but who's getting first. Njenga's son needs Sh 50,000 for a good laptop for his college project. He begs. >>
Kimani's money misfortunes are well known. The many times he's sought bailouts from his siblings over "deals gone wrong" are legendary. His daughter Jeni is joining Form 1. His wife doesn't give a hoot. He asks to get first & promises to make amends with money. >>
Suzzy rises up to leave. Samuel wakes up with a start. He can't miss the lift to Thika. It will be a week before his wife & kids come back. His gachungwa at Witeithie wants her time, and his money too. He took a loan to develop a Mang'u plot, he says. For the umpteenth time. >>
Tomorrow the remaining ones will disperse to their selves in the city. They meet again next year. To discuss the same issues. Meanwhile, the old folks will have to do with the fading iron sheets, old furniture and filled-up pit latrine unless Sofia does something. #HappyHolidays
Mjivinjari hizi holidays lakini msisahau Masterclass ya @TheAbojani from January 9th. Kujeni m-upgrade skills zenu kuhusu personal finances na investments kupitia Zoom for three weeks. Early bird offer expires 31/12/22.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with cheruiyotkb

cheruiyotkb Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @cheruiyotkb

Nov 4
The moment you get a call from your bank that you qualify for a loan or top up, Murife run away and fast.

A loan is not the biblical manna from heaven. It is something that is tediously applied for on need basis. When you get an unsolicited loan offer, they are looking to... >>
...make a passive income source from you. Whether that loan will be to your advantage or disadvantage is none of their business as long as they are assured of you paying back.

If you didn't sit down, planned your finances & decided you needed a loan, don't accept any prompting.
The moment you let your bank be your financial advisor, you are doomed. Its business is making sure you become a regular customer to their loan facilities.

Some people take loans for the sake of impressions: footing entertainment lifestyles or buy luxuries. >>
Read 4 tweets
Nov 2
Lifestyle creep is regressive.
nation.africa/kenya/life-and…
LIFESTYLE CREEP 🧵

Lifestyle creep, also known as lifestyle inflation, is a phenomenon that occurs when, as an individual spends more resources on their standard of living, previous luxuries become seen as necessities. >>
Typically this occurs when someone gets a big promotion, causing a boost in income. However, it can also occur when there are decreased costs of living, for example, when a mortgage is paid off. >>
Read 15 tweets
Oct 2
Pursuing financial independence is not about hating your job & not wanting to work.

It’s about understanding the value of your time & wanting to spend it doing things that fulfill you.

The ability to design your life the way you want without worrying about having to make money.
Your current job has the potential to set you free from the intricacies linked to it - waking up on alarm, suffocating corporate culture & longer working hours.

Use your financial literacy skills to build an impenetrable wealth creation machine from the many salaries you earn.
Assuming one spends Sh 100K monthly to meet family basics & leisure expenses. Such a person needs Sh 1.2M annually to attain financial independence.

Investing Ksh 10M in a long term infrastructure bond achieves this. But this person will not have attained financial freedom. Why?
Read 6 tweets
Nov 8, 2021
Many investors consider equity funds, balanced funds & money market funds as boring. They don't see "some action" on their portfolio apart from the monthly reflection of value or crediting of interests. When you don't see the moving parts of a system, you don't understand...

>>2
...how it works. These funds are considered as "mattress" accounts for their relatively low return. What investors fail to appreciate is the transfer of RISK. You cannot have your cake & eat it.

Unlike direct stock investment where things tend to get a bit more exciting...

>>3
...when you construct a portfolio made up of the parts themselves and you can see how they move around and their impact on your overall portfolio, the underlying movement of risk factors on your equity/balanced/money market fund are "shielded" from you.

>>4
Read 5 tweets
Nov 7, 2021
You become rich in your mind before you become rich in your bank account.

The first step to financial independence is to actually want it.

And believe it.

A guy sought help on stock market investing & joined our Masterclass in April. He shared his "starter" portfolio below ⤵️
You don't need a lot of cash to be an investor. A little amount invested monthly will grow your portfolio to levels you can't believe it's possible.

Even a Ksh 3000, 5000 or 10,000 stock portfolio will make you walk taller than most because you've set your eyes on the prize.
Another one (below) had never had any spare cash at hand or bank. When she joined the @TheAbojani Masterclass, she resolved to get her act together.

She came, she learned & executed.

She is a woman on a mission 🎯

Rest assured, she is walking taller than her peers ⤵️
Read 5 tweets
Oct 23, 2021
#SolutionSaturday

"What matters is what you keep, not what you earn" 🧵

We look at two cases.

1️⃣ John earns 300K per month.

2️⃣ Mary earns 50K a month.

John spends as follows: Mortgage & Car Loan: 150K. He saves 50K monthly in an FD earning 8% interest annually.

>>2
Mary spends up to 30K & is able to save 20K monthly.

Is John saving more compared to Mary? NO!

He only saves 16% while Mary saves 40%

John is a busy professional (an insurance executive) & has no time to actively manage his money. He leaves it to a fund manager.

>>3
Mary pools her 20K with other 10 people in her group (chama). They raise 200K for 12 months (Ksh 2.4M) & invest in an events management company where they hire out tents, chairs & sound systems. They have bought their own truck.

They generate 600K profit in the first year.

>>4
Read 7 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

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

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(