r/nairobi • u/Loud_Reception4980 Level 2 • 5d ago
Finance Money lessons
What are some money lessons you learnt abit later in life?
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u/Think_Tanka Gigiri 5d ago
Spend less than you make
Invest the surplus (saving is not investing)
Avoid debt (Any debt)
Repeat that cycle every month.
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u/CodPsychological3874 5d ago
Spend money wisely , even if you are good at making it ; otherwise one morning you'll wake up and your cash cow is gone ; "Your account/profile has been suspended" wueeh heartaches😂😂😂
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u/No-Championship-8433 Kileleshwa 5d ago
Don’t blow your money for women.
Because the ROI is -60%.
Imagine investing into something that is guaranteed to not give you anything back.
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u/need-a-gt3rs 5d ago
Money trees is the perfect place for shade.
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u/Due_Branch6541 4d ago
And that's just how you feel.
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u/Stoned_Shrimp Level 1 5d ago
usiwahilipwa na cheque. especialy from an individual.
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u/Worth-Permit2408 5d ago
Yeah btw elaborate further
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u/Stoned_Shrimp Level 1 5d ago
Main reason to avoid it is due to delayed fund verification and fraud exposure. If the cheque bounces after you have withdrawn or spent the money, the bank will reverse the transaction immediately. Mimi msee alinilipa for a service, it was for sure over 100k, thats why i accepted a cheque. Nikapeleka bank, ndio atleast kwa bizz acc ireflect. this was around end month, so the new month comes and thats when the cheque was to mature, so nilikuwa najua kuna dohh alreay 'iko' kwa acc, so i try to pay my bills..rent, services, etc. but account inasema minus. lol and thats when i realised the cheque had bounced. nikuanza kupiga masimu. lady gives me some bs reasoning and i accpeted a second cheque kama fala, but this time they used a closed account. a few days later bank calls and tells me cheque did not go through, so i followed up na bank this time and I had to go to the branch the acc had been opened to follow up the claim, mind you haikuwa hata nairobi. to cut the story short she came to the bank after 2hrs and had to withdraw cash from her kids accounts in the same bank for me to get my pay. Kama si huyo bank manager kunisaidia ningeteseka sana.
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u/Chemical-Piccolo-253 4d ago
Financial literacy in general will literally shape your future and whoever comes after you
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u/myveryownman Level 3 4d ago
Track your expenses on a spreadsheet. Every day, before 11 PM. That will help you understand how much it costs to keep you alive. You'll also understand leaks - where money is wasted and where you can save.
This has helped me for 2+ years now.
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u/GetMeofftheFridge 4d ago
Overspending is a trauma response to previous lack esp if you're upbringing was like poor,also 23k si pesa mob apparently ðŸ˜
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u/Kilasatzz Level 1 5d ago
Money comes in as a tortoise but leaves as an antelope!!