Start by building an emergency fund of at least Sh415,000 that can take care of at least six months of your expenses.
To achieve your dream of constructing the house, start by buying a plot of land then embark on constructing the core structure.
My name is Ben. I am married with one baby. I earn a net salary of Sh98,000 and my expenses are as follows: Bank loan of Sh14,000 ending October 2024, Sacco loan of Sh9,000 ending September 2024 – two loans I took to start a rural house project, rent Sh20,000, electricity Sh4,000, water bill Sh1,500, shopping and groceries Sh20,000, internet Sh1,500, other household costs Sh2,000, airtime Sh1,000, offering and thanksgiving Sh2,800, mother Sh6,000, transport-Sh5,500, meals at work Sh4,000, and shaving Sh1,000.
I also get Sh5,000 every month from a side hustle. By the 15th of every month, I’m forced to borrow from mobile lenders and friends to sustain myself till end-month. When the year started I was contributing 10 per cent to a money market fund but I have already withdrawn all the cash.
