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25 is a good age to be: Financial Hacks

Mamasita’s Diary
Sunday, 3rd June 2019

Finally got a job!!!!! I got my first pay cheque last week. Oh my goodness I am super excited. First thing I am gonna do is move out of Mum’s and Dad’s – here comes FREEEEEDOM!!!
I need me an i-phone, like quick, quick.
Goodbye Agolla of Kenyatta Market, my life of matutats or matuta look alikes in the name of braids is done. Gotta ask that chica from I.T. where she gets her Brazilian Human hair weaves from. Oh one more thing, why jav and walk when I can Uber as I shop around for my own powerful red guzzler?

Hanged out with kina Barbs, Barbs small sis and her friends, Lucy, John and Kevo this Madaraka Day weekend at another nyama choma place at Kitengela. Had lots of fun. I think Kevo likes me. I caught him stealing glances at me the whole time through, I don’t blame him – I know I am haaawt. Got an SMS from him asking whether I fikad home safe after the Uber ride and asks whether we could meet next weekend. Taking my time, it’s just been a month since Timo and I broke up, so for now we will just meet when I am with my peops.

What big sis Kwambie thinks:

Congratulations Mamasita on acing your first job, kinda makes you feel that all those years in school were worth the while, doesn’t it? Did you mention that you suspect that Kevo is crushing on you?I like your move, go easy, meet him in crowds and with your other friends, remember that you broke up recently and you are still hurting, so do not indulge him as you may find yourself in a rebound relationship. That is you are not really into Kevo, but are into the idea of Kevo being into you as an ego boost right after your break up. Sawa?

Again congratulations on your first pay cheque, I hope you splurged on yourself or the people you care about to celebrate!!! However, I say go easy on all these upgrades you are talking about. First understand how much you are making. And as your big sis, I would wish for you to cultivate the habit of paying yourself first (that is saving for a rainy day and investing) and learning how to budget your money. It is these habits that you will follow you for the rest of your life.

Unless Mum and Dad’s place is inaccessible to your work place or the environment at home toxic, do not be in a hurry to move immediately. What you would spend on rent out there use to upgrade your life, your sibs’ lives, and Mum and Dad’s life for the time being, you could also save for your degree, buy a plot, build up on funds as deposit for your own house, travel etc. I know this bit of advice I am giving you is debatable but living under your parents’ roof for one or two years does not mean that you are not independent Mamasita.

Look haaawt we must chica but looking at how much you earn right now is your income sufficient to sustain the Brazilian weaves every month- you are talking about? I know Lady X on Instagram is your heroine and her Brazilian weaves sizzle, but the weaves she wears are paid for by the sponsors of her Instagram posts “Luscious Extensions“. The lady in I.T. I understand is a senior manager who earns five times your pay – she can afford the Brazilian weaves without a sponsor. No need to change your hair dresser if she is doing a good job and you still look sizzling. Go for affordable hair styles that still ensure you look great without denting your salo. But on occasion splurge on yourself. It is allowed. Just do not make it a lifestyle.

Have long term financial goals. Mamasita, what do you hope to have done with your money or hope to be financially by the time you are 30, by 40 or even 50? It makes it less of a financial struggle when you are older when you are prudent with your money when you are younger. Remember  a penny made or invested today is worth two or more in the future.

Spend less than you earn. Save, save, save. Save for an emergency, save for projects. Invest, invest, invest.

Borrow for investment purposes. Sometimes an opportunity may present itself and you do not have the chumz at hand, do not let the opportunity pass you buy for the long term e.g. that land you have identified and seems a tall order for you, if you want to build your skills but do not have the money.Some employers for example give zero rated education loans, take advantage of that! On that not if your employer has fringe financial benefits take advantage of them ASAP.

Spend your free time increasing your earning capacity either by having a side hustle or increasing your income earning skills.

Have a financial mentor, someone you look up to. It does not have to be someone you meet with formally but someone you admire from afar. They give you an aspirational lifestyle to look up to.

If you are favored to start a family Mamasita, have a financial plan for your children and your family.

Chica, I wish you the best financially in years to come, keep learning and finding out for yourself on financial health and financial matters.

So when are you buying big sis/ Kwambie coffee to celebrate your first salo?

25 is truly a good age to be.

‘Wacha niKwambie

© Kwambie Nyambane June 2019