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The power of financial education
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mapozi
#51 Posted : Tuesday, April 24, 2012 11:53:09 AM
Rank: Member

Joined: 4/21/2011
Posts: 119
@Marty, you never disappoint. The thread on how you made your first 1 million Kshs. is on the following link.
http://www.wazua.co.ke/f...spx?g=posts&t=11054

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mapozi
#52 Posted : Tuesday, April 24, 2012 12:04:42 PM
Rank: Member

Joined: 4/21/2011
Posts: 119
kamundu wrote:
I'm not a financial guru, but this are the basics
An ideal family budget ( combined incomes of you and your spouse )
Living expenses about 60 % of which 15% is your rent and also includes food, clothing , fuel , school fees
Short term investment 10%
Long term investment which (includes mortgage )15% ( how I wonder how guys are affording 20M houses!)
Tithe 10%
Unforeseen expenses 5%


Are we talking about gross or net income?

Where would you classify expenses such as paying loans(e.g. HELB, personal, car, SACCO etc)
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Marty
#53 Posted : Tuesday, April 24, 2012 12:26:32 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
Chaka wrote:
@Marty,
Good work.Is this a true story ama its fiction?I read somewhere that Kiyosaki's Rich Dad Poor Dad is actually fictional account..


This is a true story. James is real and maybe he is a wazua member. I'll ask him. The name has of course been changed.
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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Marty
#54 Posted : Tuesday, April 24, 2012 12:32:32 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
mapozi wrote:
@Marty, you never disappoint. The thread on how you made your first 1 million Kshs. is on the following link.
http://www.wazua.co.ke/f...spx?g=posts&t=11054



Noted. I'll mention how I made in the next post. Strangely when I look at it with benefit of hindsight, it looks pretty simple but I can tell you it was not easy
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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Marty
#55 Posted : Tuesday, April 24, 2012 12:39:22 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
@QD. Thanks for noticing the mistake. I am trying to recall the figures, but I remember the fellow had 8k set aside for that. I may not have a photographic memory but we'll learn from this old friend of mine and how he made a turn around.
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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ralp_mutu
#56 Posted : Tuesday, April 24, 2012 3:34:15 PM
Rank: Member

Joined: 3/26/2012
Posts: 232
Location: Nairobi
@Marty
Feel like you are talking about me a year ago..

Kindly email simonejulius@yahoo.com Thanks for the posts
My folks told me that my very first word was 'billionaire'
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Chaka
#57 Posted : Tuesday, April 24, 2012 4:02:06 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
@Marty,
I believe James could have saved a bit more by
telling his wife to chop her hair!(When I tried telling my spouse to do this some time back,she flatly refused and told me that maintaining short hair is more expensive that going to the salon.Can the ladies in wazua confirm this)?
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Drunkard
#58 Posted : Tuesday, April 24, 2012 5:07:18 PM
Rank: User

Joined: 5/3/2011
Posts: 559
@Marty
Is this personal financial planning for broke people? or this is a weekly budget? The last time I was in Kenyan Road, I spend 7k every week for fuel and another 10k on food, weekly! Or is the numbers real prices, i.e before inflation!
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My 2 cents
#59 Posted : Tuesday, April 24, 2012 5:45:29 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,091
Chaka wrote:
@Marty,
Good work.Is this a true story ama its fiction?I read somewhere that Kiyosaki's Rich Dad Poor Dad is actually fictional account..

Pure fiction! Robert kick-you-in-the-sacki makes his money selling books...surprise
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My 2 cents
#60 Posted : Tuesday, April 24, 2012 5:48:33 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,091
Chaka wrote:
@Marty,
Good work.Is this a true story ama its fiction?I read somewhere that Kiyosaki's Rich Dad Poor Dad is actually fictional account..

Pure fiction! Robert kick-you-in-the-sacki makes his money selling books...surprise
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