McDreamy,
With 10+ years of experience, your best bet would be to get a job....pronto. And am not talking about the send-my-Cv-shoot-in-the-dark-hope-I-hit-the-target type. You have to sit down and shortlist guys in your network that can get you a gig bila mambo mob. If you get a job that is giving you even 80k take home, grab it with both hands.
AFTER getting the job, you now need to seriously build your side business (as you look for a better job). Starting a business now would have been ideal if you were a single man but family and all the responsibilities that come with it will only strain your start up capital (however frugal you are).
Those who are advising you to change schools, move houses have a point but IMHO that also has a cost to it (deposit for new house, repairs, cost of transport, uniform etc) so you need to sit down and do the math. If you have two cars, sell the more expensive one to maintain. Plough back the proceeds into your start up business. (Ideally You should register the business and open a bank account). Make sure there is "activity" in the account, this will come in handy months from now when you need to borrow money for expansion.
Going forward, you'll notice a few things in these tough times:
*Your fair weather friends will desert you...in droves. Sounds cliche but it happens all the time.
*You'll be shocked at how many things you used to buy but can actually do without
*The value of a shilling will take a whole new meaning
*You think you know yourself, you dont. You'll discover some strengths and also weaknesses you thought never existed in you
*Life will unleash some serious punches on you, better be ready to absorb each of them.
Lastly, to paraphrase a quote from the movie Up in the Air: "Anyone who has ever been someone was once in your exact position (retrenched)".
All the best.

I believe this post should also act as a lesson for us.

Is there anyone who has managed to keep the (oft advised about) 6-month-operating expenses emergency fund? Found it hard.

Hi good people, a veteran here incognito.

Yes, I’ve been axed by my employer & here is my story:

1. I was bringing home 150k, wife still working & brings 70k.

2. Got 3 school going kids in private prestigious schools- God knows I can't stand see them go through any change of lifestyle.

3. My mortgage was in process, I've suspended it.

4. We've lost a comprehensive family medical cover.

Mostly, I want to be employed so am updating my CV and sending out to all who cares. I was never prepared for this, am stressed & not sure where or how to start.


With less than 500k in my hands, what are my options? Benefits gone to clear sacco loan I had purchased land (in konza) last year.

I am an IT techie & part time car mechanic.