A tweep has aroused mixed reactions from Kenyans online with his financial breakdown of how tough it is for the the middle class to save money in the current economy.
Gatimu Muchai, as he identifies himself on Twitter, lamented on how the middle class is in a crisis which makes its almost impossible for them to save money due to the high cost of living.
He cited the example of someone who earns Sh100,000 a month who can only save Sh200 a month. The situation gets worse if the person is married and the sole bread winner of the family.
The chart he shared highlighted the different monthly consumption a person has in a month including, rent, food, entertainment, money sent home to parents and relatives, money spent on personal effects, grooming among other things.
“The middle class crisis: A person earning Sh100,000 ($1,000) monthly can only save Sh200 a month towards their future. It’s worse if they have a family. This is why u must think of extra sources of income and also get married and make sure your partner is earning! See attached,” said Muchai.
Kenyans on Twitter were of varied opinions as some agreed with him while others said Sh100,000 is a lot of money and with discipline a person can be able to save a considerable amount of money.
Eddie Gemura tweeted, “Hakuna kitu kama pesa mob ama kidogo it’s all about discipline and setting goals.”
Cyrus the Great said, “100k ni pesa mob sana… stop this demoralization of our youth… such thinking inafanya mayouth wajoin crime na addictive betting… so they end up dead or wasting a lot of time and never even get a job for 50k. We should encourage them to live simple lives and plan future.”
Viddy wrote, “Hizi hesabu umepiga vibaya boss wangu… hii pesa ukijipanga poa ni mingi sana.”
Tsar Nick Muraya commented, “In short, don’t marry till you are a HNWI (High Net Worth Individual).”
Mushizzle said, “I strongly differ with such financial algebra. This is a foolish man’s planner.”