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Help a wazuan budget his salary
Rank: New-farer Joined: 3/17/2013 Posts: 24
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First let me congratulate wazuans for being a great people.I graduated last year August and I have secured a job with a gross salary of 30k,which I think will come to 24500 after HELB,NSSF,NHIF and tax.The work place is along Mombasa road.I currently reside upcountry.My budget is as follows:rent 3000,fare 3000,food 3000,airtime 1000,household items 3000,clothes 2000,girlfriend 2000,parents 2000.pocket money 1500,savings 4000.Is it a good budget and where can I improve on?Where can I invest the savings?
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Rank: New-farer Joined: 1/16/2013 Posts: 46
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dealmaker wrote:First let me congratulate wazuans for being a great people.I graduated last year August and I have secured a job with a gross salary of 30k,which I think will come to 24500 after HELB,NSSF,NHIF and tax.The work place is along Mombasa road.I currently reside upcountry.My budget is as follows:rent 3000,fare 3000,food 3000,airtime 1000,household items 3000,clothes 2000,girlfriend 2000,parents 2000.pocket money 1500,savings 4000.Is it a good budget and where can I improve on?Where can I invest the savings? Food 3000?  It seems as if you have 3000 and 2000 as psychological figures than a real budget. Are you sure that this is your budget?  Track them accurately and then bring the question again.
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Rank: Elder Joined: 11/15/2011 Posts: 4,518
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dealmaker wrote:First let me congratulate wazuans for being a great people.I graduated last year August and I have secured a job with a gross salary of 30k,which I think will come to 24500 after HELB,NSSF,NHIF and tax.The work place is along Mombasa road.I currently reside upcountry.My budget is as follows:rent 3000,fare 3000,food 3000,airtime 1000,household items 3000,clothes 2000,girlfriend 2000,parents 2000.pocket money 1500,savings 4000.Is it a good budget and where can I improve on?Where can I invest the savings? These are provincial figures. Not realistic I have to tell you. Earn and evaluate how you it's spent first, only then can you come up with tentative figures. You haven't factored in electricity and water cost,fare,emergencies,michango hapa na pale,garbage collection,repairs. Your food budget is sh 3000 but food prices keep fluctuating.What are u using to cook the food? gas,charcoal or stove,Ni ngumu to be exact. Lol @ gf sh 2,000.If she's the type that relies on you for everything from hair,clothes,fare to airtime then triple that. My small advice is,double the figure for each expense to be safe. "The true measure of a man is how he treats someone who can do him absolutely no good.
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Rank: Veteran Joined: 11/9/2009 Posts: 2,003
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@dealmaker, get to the ground and do your costs. For example where do you intend to rent a house for 3k? That will determine your fare which you have put at 3k.
BTW, notice your girl is consuming approx. 8% of your income.
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Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi
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30K gross?.....To be honest,there are soooo many start-up biz which require next to nothing capital and they will be giving you way above that in very little time.....I hope i don't sound snobbish. Nothing great was ever achieved without enthusiasm.
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Rank: Elder Joined: 11/15/2011 Posts: 4,518
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Njuge he only graduated last year. We don't only work for cash but for experience and growth.We also learn a lot in the work place including submission and management. If business flops one can use his former work exp to secure another job but it's difficult getting a collar job straight from soko. "The true measure of a man is how he treats someone who can do him absolutely no good.
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Rank: New-farer Joined: 3/17/2013 Posts: 24
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@essyk,if I double the amounts,I won't take the job as it will be beyond my salary.As for food,I did my survey and found the amount adequate.The 3k rent is inclusive of water and elec for a single room at Cabanas area.
@radio,the girlfriend expenditure is fine with me as if all goes well i tie the knot next year.The 2k is for a gift,the occasional airtime,the 1 litre soda and popcorns when she comes visiting,hand outs,etc.
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Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi
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essyk wrote:Njuge he only graduated last year.
We don't only work for cash but for experience and growth.We also learn a lot in the work place including submission and management.
If business flops one can use his former work exp to secure another job but it's difficult getting a collar job straight from soko.
I am not disputing that and neither did i mean DM should start a small business to fail....indeed that would be a very wrong start....again,is it not possible to gain experience from what one does rather than from what others do?. Nothing great was ever achieved without enthusiasm.
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Rank: Elder Joined: 11/15/2011 Posts: 4,518
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ok I think you can make it if you tighten the belt a lil more. Don't worry "The true measure of a man is how he treats someone who can do him absolutely no good.
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Rank: Veteran Joined: 11/9/2009 Posts: 2,003
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@Guka, why don't you point out the ideas here they could help someone. So many youths out here asking for handouts and I it would be great to educate them on such ideas.
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Rank: New-farer Joined: 3/17/2013 Posts: 24
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@Njung'e, in your opinion,how much is a reasonable starting salary?
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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30k is alot of money as a starting salary. in fact from my estimation more than 50% of Kenyan working class earn less than that. start with the 230000 teachers and low cadre civil servants who form the bulk ,nearly 60% of them earn less than 30k. dealmaker don't be discouraged if you are saving 4k per month huko mbele.just join a sacco and put in that 4k then borrow wisely after sometime.you sound between 23-26yrs old don't rush into marriage next year.wait a little bit more. otherwise utapata stress if you are not financially stable. NB: no honey without money punda amecheka
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Rank: New-farer Joined: 3/17/2013 Posts: 24
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@newfarer,thanks for the advice.For the sacco idea,it is good so I will enquire on Stima sacco though I don't work in the energy sector but for ease of getting guarantors.As for marriage,I want to start while still weak financially and hustle with her.
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Rank: Member Joined: 11/15/2010 Posts: 454 Location: Nairobi
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@dealmaker: Its a good budget noting that you are fresh frm colle. and I bet you are lucky you have a job in present day kenya. I especially note that you have resolved 2 be saving, my advice is you continue saving faithfully, but most importantly is you seek profitable return to your saving. ....He who began a good work in you will carry it on to completion..
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Rank: Elder Joined: 6/23/2009 Posts: 13,497 Location: nairobi
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dealmaker wrote:@newfarer,thanks for the advice.For the sacco idea,it is good so I will enquire on Stima sacco though I don't work in the energy sector but for ease of getting guarantors.As for marriage,I want to start while still weak financially and hustle with her. What is the difference btn food and house items? I think you are not saving enough and this must have something to do wit the girlfriend. Maybe she can move in and you combine incomes if you are serious with her, otherwise, cut her off the budget allocation as the expense on her cannot be a fixed item..
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 3/17/2013 Posts: 24
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@Obiero thanks,by household items I meant stuff like curtains,plates,meko cooker,electric iron ,bed,chairs etc.Moving in with her is not easy now as I have to coerce but the 2k monthly expenditure on her is not fixed but a maximum rough estimate.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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dealmaker wrote:@essyk,if I double the amounts,I won't take the job as it will be beyond my salary.As for food,I did my survey and found the amount adequate.The 3k rent is inclusive of water and elec for a single room at Cabanas area.
@radio,the girlfriend expenditure is fine with me as if all goes well i tie the knot next year.The 2k is for a gift,the occasional airtime,the 1 litre soda and popcorns when she comes visiting,hand outs,etc. @dealmaker: Be real. work your budget from upside down. Set aside what you want to save, pay the basic needs and from the rest you can enjoy life! "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: New-farer Joined: 3/17/2013 Posts: 24
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@Gathige,thanks for the advice.So each month I put 4k in a savings account as I plot for what to do with the savings but as Njung'e advised,I continue hunting for a better job even though Njung'e pays his graduate sales representatives at Family Bank where he is the finance director 13,500 per month.
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Rank: Member Joined: 3/15/2010 Posts: 391 Location: nairobie
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b patient n start saving and also gain xperience in your job so that when u finally open your succesful biz u will b ready
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Rank: Elder Joined: 6/23/2009 Posts: 13,497 Location: nairobi
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dealmaker wrote:@Obiero thanks,by household items I meant stuff like curtains,plates,meko cooker,electric iron ,bed,chairs etc.Moving in with her is not easy now as I have to coerce but the 2k monthly expenditure on her is not fixed but a maximum rough estimate. @dealmaker. now that u have clarified, im sure u see that u do not need to buy new curtains, cooker, plates each month. from ua provisional budget it appears to me u cld save upto 7K per month, esp since ua rent is bloody cheap! save more, invest more and u will be fine
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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