Chachanomics Money Talks

I Save Sh.500 Net Daily from My Boda Boda Job. Help Me Invest to Acquire Assets Hello, My name is Ben. I am single. I am a boda boda rider based in Migori Town. On average, I save 500 bob a day after my daily expenses. I also earn 6400 bob every month from transporting school children. I use 6000bob to pay chama every month as merry go round, and the chama offers table banking loan 3X your shares. Currently my shares stand at 12000 bob. I am also currently installing a vertical vegetable garden on a 50X50 plot I have leased to help boost my income. And I have a debt of 20,000 bob. Kindly guide me on how to plan and invest the money I make so as to achieve financial stability, assets, and business capital in the next 10 to 20 years. RESPONSE On a positive note, your saving habit (putting aside Sh.500 daily) is admirable and will go along way in helping you achieve your financial goals over time. Equally, the idea of starting an income generating enterprise is progressive and t...

  I Earn a Net Pay of Sh.180,000 but I'm Always Broke and Taking Loans I earn a net pay of Sh.180,000 net but I'm always broke. My monthly expenses are as follows: Rent 44,000 Car loan 21,010 which need to repay in 20 months. Travelling 10,000 Electricity 6,000 Household Shopping 20,000 Water 2,000 I also send some upkeep cash for my parents in the village. Problem is; I have never managed to save anything however much I try. Recent, I found myself borrowing mobile loans that currently stands at 20,000. What do I need to do to attain prudent financial management and stop struggling despite earning a decent salary? How do I start saving? How do I redefine my budget? Please help. Chachanomics Financial Advice From the above financial situation, I have observed the following. 1. The breakdown of expenses is incomplete because it totals to Sh.103,010 yet your net pay is Sh.180,000 which means that about Sh.77,000 is unaccounted for. Suppose you spend S...