wazua Thu, May 7, 2026
Welcome Guest Search | Active Topics | Log In

4 Pages<1234>
A million shilings:Help!!
Options
Previous Topic · Next Topic
maina20
#11 Posted : Thursday, November 22, 2012 5:07:05 PM
Rank: Member

Joined: 7/21/2010
Posts: 249
Location: nairobi
Aguytrying wrote:
banks have become this aggressive! do not be lured into this trap. six years is a long time, if u cabdont have a super investment idea. you will regret for five years after enjoying year one.

very true, infact, they have a VARIABLE interest rate,thats the contract. Nobody will show u this. down the line they will say CBK rate has changed, ooh Economy and adjust upwards...Its a rat race, am trying to quit but its late.... by the time you clear the loan, you will have paid over 60%principal as interest. If u dont have an urgent need for the cash, pls leave it. save any coins you have in a sacco, its far much better...their rates are more less fixed at 12% and predictable. smile smile
..desire to succeed is always fighting with fear of failure..
Back to top
  |
murchr
#12 Posted : Thursday, November 22, 2012 5:44:35 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
sky5 wrote:
miser wrote:
Gathige wrote:
@ miser,if i were you, i would buy a plot for max 350k in a place which is habitable, build a house for max of 500k and reserve 150k for like 6 months to cover the period of building while renting. Once in your own house, utilize the rent savings to repay the loan. I did something similar some years ago and i cannot regret it.

This sounds reverse,but saving some cash is as good as making it elsewhere.


Thanks.Unfortunately the nature of my work and by extension my employer's policy is to work away from home;anywhere in the country.So I will keep on paying rent till I resign,get sacked,retire or die!And my current rent is only 5k-dont mind I could be living in an hovel;bora nirauke kazi!


RUN brother RUN!!!


Unless you NOW know where to invest the money and immediately start an income stream. Otherwise, it will EAT your payslip DRY. Explore the suggestions here and make the decision and accept the consequences.



Dont worry...Miser never makes mistakes from this thread http://wazua.co.ke/forum.aspx?g=posts&t=16738 you get a feel of the kind of person he is. Am sure his payslip can never go dry..not soon. Here is another http://www.wazua.co.ke/f...osts&t=1927&p=2 Sincerely speaking I like this guy
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Back to top
  | | Edit by user: Thursday, November 22, 2012 5:47 PM | Reason: Not specified
pariah
#13 Posted : Thursday, November 22, 2012 7:15:33 PM
Rank: Member

Joined: 11/24/2011
Posts: 833



Dont worry...Miser never makes mistakes from this thread http://wazua.co.ke/forum.aspx?g=posts&t=16738 you get a feel of the kind of person he is. Am sure his payslip can never go dry..not soon. Here is another http://www.wazua.co.ke/f...osts&t=1927&p=2 Sincerely speaking I like this guy[/quote]


KUMULIKWA KINYAMA
Back to top
  |
PROMANETT
#14 Posted : Thursday, November 22, 2012 8:48:59 PM
Rank: New-farer

Joined: 1/25/2012
Posts: 15
miser wrote:
Dear Wazuans,

My bank tells me I qualify for a million shillings loan to pay in six years at 16% p.a and no grace period!My loan calculator tells me that is a cool 24,318.06 shillings per month!

Now the million dollar..ooh shillings is, where do I invest this money to cover for the interest and realize also some profit.I have no plot to develop and I won't trade drugs...miraa included!

My only source of income is an emaciated pay slip that hardly covers my monthly running costs.I owe no one any debt,except unpaid dowry which is yet to be negotiated.

Any practical ideas?d'oh!


Do your calculation again...24,318.06 at 16%, Repayment period should be 5 yrs
Wealth, like happiness, is never attained when sought after directly. It comes as a by-product of providing a useful service - Henry Ford
Back to top
  |
miser
#15 Posted : Friday, November 23, 2012 9:25:01 AM
Rank: Member

Joined: 7/7/2008
Posts: 124
Aguytrying wrote:
if u cabdont have a super investment idea...


Jeez,was I not looking for this from you!
Back to top
  |
miser
#16 Posted : Friday, November 23, 2012 9:30:00 AM
Rank: Member

Joined: 7/7/2008
Posts: 124
@PROMANETT [/quote]Do your calculation again...24,318.06 at 16%, Repayment period should be 5 yrs [/quote]

Makes no difference:focus on giving the solution to the problem!
Back to top
  | | Edit by user: Friday, November 23, 2012 10:02 AM | Reason: Not specified
miser
#17 Posted : Friday, November 23, 2012 9:34:42 AM
Rank: Member

Joined: 7/7/2008
Posts: 124
murchr wrote:
sky5 wrote:
miser wrote:
Gathige wrote:
@ miser,if i were you, i would buy a plot for max 350k in a place which is habitable, build a house for max of 500k and reserve 150k for like 6 months to cover the period of building while renting. Once in your own house, utilize the rent savings to repay the loan. I did something similar some years ago and i cannot regret it.

This sounds reverse,but saving some cash is as good as making it elsewhere.


Thanks.Unfortunately the nature of my work and by extension my employer's policy is to work away from home;anywhere in the country.So I will keep on paying rent till I resign,get sacked,retire or die!And my current rent is only 5k-dont mind I could be living in an hovel;bora nirauke kazi!


RUN brother RUN!!!


Unless you NOW know where to invest the money and immediately start an income stream. Otherwise, it will EAT your payslip DRY. Explore the suggestions here and make the decision and accept the consequences.



Dont worry...Miser never makes mistakes from this thread http://wazua.co.ke/forum.aspx?g=posts&t=16738 you get a feel of the kind of person he is. Am sure his payslip can never go dry..not soon. Here is another http://www.wazua.co.ke/f...osts&t=1927&p=2 Sincerely speaking I like this guy


I note your forte is archeology;nothing much to expect from you!However fortunes change and not always for the better!
Back to top
  |
miser
#18 Posted : Friday, November 23, 2012 9:37:05 AM
Rank: Member

Joined: 7/7/2008
Posts: 124
pariah wrote:



Dont worry...Miser never makes mistakes from this thread http://wazua.co.ke/forum.aspx?g=posts&t=16738 you get a feel of the kind of person he is. Am sure his payslip can never go dry..not soon. Here is another http://www.wazua.co.ke/f...osts&t=1927&p=2 Sincerely speaking I like this guy



KUMULIKWA KINYAMA[/quote]

Try to have a mind of your own;stop herd mentality!
Back to top
  |
miser
#19 Posted : Friday, November 23, 2012 9:42:50 AM
Rank: Member

Joined: 7/7/2008
Posts: 124
sky5 wrote:


Unless you NOW know where to invest the money...


Now,now is this not exactly what am looking for!
Back to top
  |
Mucene
#20 Posted : Friday, November 23, 2012 3:06:53 PM
Rank: Member

Joined: 8/4/2012
Posts: 155
Location: Kenya

@Miser, Now that in the meantime you don't have any investment ideas and in consideration of the fact that the rates are focused to drop further, you should probably look at what the bank is also telling you, that you have 24,318.06 shillings per month that you can save. Applause Applause Put the cash in a savings account until you have some use for it. You will earn yourself some interest and will probably need less than the one million for your invesment
If you don't want to go to plan B have a good plan A.
Back to top
  |
4 Pages<1234>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2026 Wazua.co.ke. All Rights Reserved.