Anyway, let's go to the topic of the day, finances
I got my first permanent job when i was about 25 years old. My starting salary was not enviable, but still decent for the kind of pay, i hear people getting these days.
I am now self employed and I would like to share a few tips for how i got to where I am and survived the first year of not being permanently employed. I am not rich, but again, i depend on myself for a living.
The other advantage is that you cannot withdraw this money whimsically, the process of withdrawing your money may take even 3 months! The person who mentored me into joining a SACCO advised me to put part of my bonuses in the SACCO to make for lost time. I would refer you to this blog article if you are interested in learning more about SACCOs http://www.rookie-manager.com/uncategorized/isnt-a-sacco-just-a-bank/.
I bought my first car in 2009 (2 years after employment) and it has been a great lesson for me. First, the car i bought was an 1800cc. The car would turnout to be costly, for a city that has serious traffic. Any car that is more than 1500 cc tends to be a fuel guzzler especially in Nairobi where there is a traffic problem. On a normal week, I was spending about Kshs. 4,000 from Monday to Friday, add weekend and i easily spent Kshs. 20,000 a month on fuel.
With the salary I was earning at that time, I should not have bought a car at that point or I should have bought a car that was 1300 cc.
I will write about the things I have done well with my finances and other lessons i have learnt in Part 11.