We have all been there, broke and in need of a way out. A vicious pattern we can not seem to shake. I have been there, well, who am I trying to kid. I am still there. Trying everyday to figure if out. So if you are just like me, take this journey of financial freedom with me. But first, let me introduce myself.
I am Amina aka Miamicia :), a young lady that is trying to make it in this concrete jungle. A lady that believed so much in the words of our parents and the motivational songs they sang to us. A song that comes to mind "Someni vijana.... mpate kazi nzuri..." I don't quite remember the song but someone who does can share and take us down memory lane. Okay, I digress! I knew for a fact that all I had to do was study hard (there was nothing like study smart back then. If you know, you know) and the rest would fall in place. Like a great job with good, actually, great pay. I'd live in a furnished apartment that would overlook the Nairobi skyline and all would be rosy.
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| photo courtesy of Panafric Hotel |
Fast forward to the present, I am not living in a fancy apartment overlooking the Nairobi skyline or getting paid that great paycheck to boost my financial status. All I see from my small kitchen window is the constant traffic on Mombasa road. Well, its not so bad once you get to used to it. At night especially, the lights from the vehicles all lined up contrasts and compliments the dark of the night quite well. There are no roses to smell. I found myself in the harsh reality that the work doesn't end in school. It begins outside of it!
I got a job that could only help me meet my basic needs and it was difficult at first. I had a dream unlike Martin Luther King Jr. Mine was the famous saying "ponder mali, kesho yaja". (A saying that most young people today have). Where my skyline view would be accompanied by evenings sipping coffee in Java or Artcaffe as I enjoyed my latest read on how to be even greater than I was then. A trip to Zanzibar once every year and flights to visit my mother and family in Mombasa would be a given. It's safe to say.... You guessed it! I did not get to "ponder mali"as I had envisioned. A chocolate bar here and there were my only wild moments. I will not belabour the point, you get it.
It came to a time that I got really 1 depressed, not clinically thank God, but I was really down. I couldn't even make the effort to try and dress like a person working at an office. You would be excused for confusing me for a person that just walked out onto the street seeking donations. (Ok, I exaggerated a little) but it was bad. I needed extra income and I needed it today. Those get rich quick schemes were never my cup of tea. I am one of those that don't understand how one gets conned out of there money by fraudsters that tell you " You have won yourself KSH. 100,000" yet they never participated in a lottery. It is all desperation and other times greed that gets us there. So how do I get extra income and not have to resort to cheap tricks?
I got my answer after a lot of thought and talks from professionals. Know your networth and then create a budget. (I'll share about my budgeting journey in the next issue). Okay, fair enough, that sounds easy. Little did I know, it was like having those toys that you pull out one and find another and another and another... huh! The Russian dolls...that the name. So today, I will make the journey for you reading less stressing that mine was. I will try to give you simple guide to start with.
Hard truths
- You have what you have, not what you wish you could nor what will come/ what you'll get if something or another works out. That is your NET WORTH! Do not be demoralised, ashamed or have any other negative feeling. You are doing this for yourself and by yourself, you are your own judge, jury and prosecutor. So be as honest as the day is long.
- What is being broke? I is not being able to sustain your current lifestyle in case you lose your primary income due to lack of assets. We all have finite number of productive years and we will not always make more money. Unless you plan on working past your retirement. (reminds me of an ad about old men fighting for job vacancies because they did not plan for their retirement)
- Having a wealthy mindset is better than a broke one. A broke mindset fixates on the amount of money they earn while a rich mindset focuses on how much of their income they can convert into assets that can provide one with income in the future.
- Lastly, aim for financial freedom. This is where your passive income2 exceeds your expenses.- money you make while you are sleeping/ money generated from investments you've made
Join me on my walk to attain my goals and visions and in turn your very own. Lets embark on it together. You are encouraged to share your thoughts and tips here as well. Just leave a comment below. Its bye for now. Look out for my issue on budgeting this will help with maintaining the investment trend, find that extra cash you do not know you have, coming soon!
1. depressed- mental health is not something to be ashamed about. If you feel down speak to someone and let all the feelings out. Also find something healthy to keep you occupied like being with family, praying if you are spiritual. We will delve more into this in coming days. Let us remember to mark World Mental Health day - 10th October and everyday we get the chance to. More on the World Health Organisation website
2. passive income -exceeds your expenses.- making you make while you are sleeping/ money generated from investments you've made
Disclaimer: These are not views from a profession. Just sharing what I found as useful information that could help those of us trying to figure it out. I am still on the journey. I just wanted to share the knowledge I get along the way. The links in this page are to other sites with information I found relevant. Kindly note you are clicking on them at your own risk though I make sure to find links without issues.
#investment #howtoinvest #whyshouldiinvest #mentalhealth #budget #saving #lifestyle
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