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.

#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?

#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!

#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.

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

#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

#AbojaniTrueStorySeries
A MOTHER'S JOURNEY TO FINANCIAL FREEDOM 🧵

The best investment I've ever made in my life cost me Sh 2500.

Let me tell you how it happened.

I am a single mother of two children, ages 10 and 8. I graduated and began teaching at a school in Ngara, where I met my husband, who was a senior teacher.... We got married in 2013 when I was 22. My salary was Sh 26,000 after taxes, while my husband earned Sh 32,360.

He had monthly loan repayments of Sh 11,500 for a business loan he took but the business collapsed. He also sent Sh 10,000 monthly to his previous family. He moved into my house and we started living as husband and wife........

How to Deal with Black Tax as a Newly Employed🧵🧵

For most newly employed, the script is the same.

Your phone suddenly starts ringing 3 times a day. People suddenly want to 'check in on you.' Relatives suddenly respect you. There' s a harambee they want you to attend. There's a nephew they wish you could help with the fees, a relative who 'carried you when you were very little' who needs some 5K urgently..... There's nothing wrong with coming through for your community. There's nothing wrong with sending the lift back down.

After all, no man is an island. We thrive in shared prosperity.

However, a line needs to be drawn soon enough before things get messy.

#AbojaniTrueStoriesSeries 🧵🧵

MY MILLIONAIRE FRIEND AND I

Dear age 35-45, please listen.

I graduated in 2010 and got a job at a lucrative government parastatal. My entry-level management trainee salary was Ksh 87,000. I had a steady salary, numerous allowances, and a few side deals, money flowed, and I lived a life my friends envied. Within three years, I was promoted, doubled my salary, and my employer sponsored my master’s degree. I quickly settled into the fast-paced lifestyle of the city. My friends joked that I could buy a yacht, but little did they know, my financial ship was already sinking, only that I didn’t see it! I never saved or invested in any income-generating activities.

#TrueStoriesSeries

I am a financially stable medic. Where are the financially stable men?

I am 36 years old, extremely financially stable, without a child, single, (Although this year I hope to meet ‘the one’) in a flourishing career in the medical field. I have been following the @TheAbojani Alumni series of stories with keen interest. When I look at my financial stability journey, I feel like I don’t even deserve to share anything because most people go through a lot before they become financially stable.

10 Things Every Business Owner Should Do to Get Their Money in Order in 2025🧵🧵

1⃣Separate Personal and Business Finances
Make sure to open a dedicated business account. Mixing personal and business funds can lead to confusion, tax issues, and missed financial opportunities. Keep it clean and organized for easy tracking and management.... 2⃣Create a Budget and Stick to It
A budget is the foundation of financial discipline. Outline your business expenses and revenue projections. This will help you stay within your limits, plan for growth, and avoid unnecessary debt.

3⃣Track Your Cash Flow Religiously
Understanding where your money is coming from and where it’s going is key. Use accounting software or even a simple spreadsheet to track every transaction. Positive cash flow is the lifeblood of your business.

"What is a 50K Salo?"

In Nairobi, a 50K salary is a pretty decent paycheck for a young person just starting out. It’s enough to cover rent in a small apartment, pay for data, keep food on the table, have the lights on, and have a bit left over for the essentials.

They say you don't value what you have, until you lose it. Many young people earning 50K still live paycheck to paycheck.... Joseph.

At 25, he’s got his first "real" job—working as a junior creative in an advertising agency in the city. His monthly salary of Ksh 50,000 is his source of pride. It’s enough to make him feel like he’s “made it.” But when you break it down, it’s easy to see how quickly that 50K can disappear, leaving him scrambling to make ends meet before the next paycheck rolls in.

Dear 20-Something-Year-Olds...

☑️Invest in Yourself: This is the time to learn, grow, and explore. Invest in your education, skills, and personal development. The more you invest in yourself now, the greater the returns in the future.... ☑️Build Strong Relationships: Surround yourself with positive, supportive people who lift you up and inspire you to be your best self. Cultivate meaningful friendships and nurture your relationships with family and loved ones.

For those that have just started earning an income, trust the process.

Wealth has 7 distinct stages:🧵🧵

1⃣At first you are in debt. You probably have small-small loans here and there that you took up before your earnings became stable.

2⃣Hand-to-mouth. Then you get that job you have been applying for or your business just picks up so well and you repay your loans. But for a while you may find yourself living hand to mouth. This is the stage where you decide what you want to do next to ensure you don't just survive but thrive 3⃣3+ months of expenses savings. Next you set up an emergency fund, typically a MMF account, just in case you lose your job or something terrible happens to your source of income. If you are financially aware you find yourself saving up 3 months of your expenses.

4⃣Some investments. Before you know it, you have made some investments here and there, you have probably invested in the stock markets or even fixed income markets. Depending on your risk appetite, you have your money working for you in several places. You start small with whatever you have!

#TrueStoriesSeries

HOW MAMA'S BOY GOT FINANCIALLY RUINED 🧵🧵

I got married in 2014. We had three children. I am using 'had' because I am not no longer married. Excuse my language but I still get incensed whenever I think about her. I grew up in a large family. My father had 8 children. And when it comes to financial matters, he made the money and handed over everything to my mother. The house we lived in, the farm my parents bought, the car my parent drove, and the fees that were paid in school were all done by my mother.

#TrueStorySeries

I DISCOVERED FINANCIAL DISCIPLINE AT 51 YEARS

I have been employed for 32 years. I started working in 1992 as a teacher in Nyamira. In 1995, I was suspended from the teaching job, and I opted to resign. I stayed a whole year without income and even went back to my father’s home.... In 1997, I joined Kenya Post and Telecommunications. It’s nowadays simply known as Posta. I started at the Kisumu office. I was later transferred to Mombasa, and eventually, in 1999, I got promoted and sent to Nairobi office.

Back then, Kenya Post and Telecommunications had the monopoly of sending letters or parcels, we provided call services through phone booths, telephones in offices or people’s homes and at the turn of the millennium, we were the first to install internet-enabled computers before cyber cafes became common. ....

IS MIDDLE CLASS JUST AN ILLUSION??🧵🧵

Sarah. She’s 30 years old, lives in Athi River, and has a steady job in marketing.

On paper, her life looks pretty good. She earns 400K a month, has a decent apartment in her neighborhood, and can afford to go out to eat with friends on weekends.

From the outside, Sarah’s life looks successful — she’s living the "African Dream" But if you were to take a closer look at her finances, you’d see a very different picture....... She wakes up early for her commute to work, knowing that her paycheck will hit her bank account in just a few weeks.

She’s grateful for the job that pays her well, but it never feels like enough.

When she gets home in the evening, the reality sets in. The bills are waiting. Rent, utilities, credit card payments, her HELB loan, black tax, and the list goes on...

Retirement Rich But a Health Crisis Away from Misery 🧵🧵

James had always been a hard worker.

He was the type of person who believed in earning his keep, planning for the future, and saving for rainy days.

For over 30 years, he worked diligently at his job, often staying late at the office, always thinking about the future. He knew that retirement would come one day, and he wanted to be ready.... Every paycheck, he set aside a portion—some into a savings account, others into various investments.

He was building what he liked to call his "retirement wealth basket."

It wasn’t easy, but he always told himself that the sacrifices today would pay off tomorrow....

John Gachora ...🧵🧵

Every man has his own modus operandi.

For Gachora, he seems to be the man that audaciously believes himself into greatness!

On his LinkedIn profile, he states " I have differentiated myself by starting with the end in mind placed against a strong belief that I can model anything.”

Armed with a Degree and a Masters in Electrical Engineering, one would think Gachora would be busy modeling signal processes, network traffic, and data transmission.

And how wrong can one be! Surprisingly , the man is busy ‘modeling’ in the financial services industry, sitting as Group MD of a leading Tier 1 bank and even more surprisingly, as the chairman of the banks’ lobby, @KenyaBankers ....

How to Break Free of Debt:

It's hard to focus on growing wealth when you're struggling to keep up with loan payments.

Loan payments take a significant chunk of your income.

This leaves less money available for saving and investing, the cornerstones of wealth building. To alleviate this burden and work towards debt repayment, you can use Avalanche or Snowball debt repayment strategies.

You may have heard the old proverb, “Shirtsleeves to shirtsleeves in three generations.”

In Japan, the expression goes, “Rice paddies to rice paddies in three generations.”

The Scottish say “The father buys, the son builds, the grandchild sells, and his son begs.”

In China, “Wealth never survives three generations.”
>> Imagine you work so hard to build long lasting wealth by dedicating yourself to saving money with a long term approach to investing, only for your third generation to burst your bubble!

Or a man working hard to buy a piece of land, his son building a successful business on that land, but then the grandchild, instead of taking care of the business, sells it off without thinking about the hard work put in!
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