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I'm debt free starting today!!!!!!!!!!
Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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callaspade wrote:Impunity wrote:It so sweet, u just find yourself whistling in the bathtab or while downloading...yaani unaangalia maisha na haumini. I see my landlord and I pity him so much, with all these maisonettes kumbe ni za 25 year mortgages, na he has only done 3 years payment. .......who is paying back his mortgage here between you and the landlord? ......The landlord is downloading in the right place while u pay for his loans and stain his bathtab He built very nice Maisonettes in a well developed area karibu na main road; I stain his bathtab after landing in a well lit bedroom he pampered while he is busy eating ngwaci na cabbage trying to pay a 25 year mortgage,his shudren are kichwa maji in fact the eldest dropped out at form 2 and is one of the Sonko's makanga hapo Buru. I will continue staining his toilet seats too for the next 30 years then retire at my humble ranch huko Mayakos county, karibu na Konza Citeh! Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: User Joined: 1/20/2014 Posts: 3,528
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ati what???? dead ones walking  Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Elder Joined: 3/31/2008 Posts: 7,081 Location: Kenya
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Vallerrie wrote:I honestly don't get how people here are encouraging debt, like, in which world is drowning in debt a good thing? I may be naive but I actually like owning my money @vallo, leave them alone, its like trying to milk a rock... most of them have not experienced organism so they dont have anything to compare the freedom of debt-free with! By the way how do you enjoy your sleeps? Compare and contrast with them days you had those SACCO loans! You are a great woman indeed.  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 10/1/2009 Posts: 2,436
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Wololo, it sounds as though your take-home pay was not enuff to take you home.
The trick is in not avoiding debt altogether but making sure your debt-load is not so high as to stress you i.e no liquidity and that the debt/loan is invested in income-generating assets (that are preferably the ones actually servicing the debt and not from your payslip).
Otherwise your growth going fwd will be limited to the size of your monthly payslip (actualy take-home amt), and not several times your payslip (coz thats what a loan is). Tough luck if you cant save.
Actualy if you had reasoned the way you are doing now, its unlikely you would be having any of the properties you caim to be owning.
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Rank: Elder Joined: 7/1/2011 Posts: 8,804 Location: Nairobi
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Vallerrie wrote:I honestly don't get how people here are encouraging debt, like, in which world is drowning in debt a good thing? I may be naive but I actually like owning my money Kweli mwenye shibe hamjui mwenye njaa. Now people own their money? Are you guys Kenyan?
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Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
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Impunity wrote:Vallerrie wrote:I honestly don't get how people here are encouraging debt, like, in which world is drowning in debt a good thing? I may be naive but I actually like owning my money @vallo, leave them alone, its like trying to milk a rock... most of them have not experienced organism so they dont have anything to compare the freedom of debt-free with! By the way how do you enjoy your sleeps? Compare and contrast with them days you had those SACCO loans! You are a great woman indeed. Can you get orgasm/organism by eating dead fish? If Obiero did it, Who Am I?
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Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
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tycho wrote:Vallerrie wrote:I honestly don't get how people here are encouraging debt, like, in which world is drowning in debt a good thing? I may be naive but I actually like owning my money Kweli mwenye shibe hamjui mwenye njaa. Now people own their money? Are you guys Kenyan? People have gold reserves to back up their money....don't joke with wazuans who are JUCHED If Obiero did it, Who Am I?
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Rank: Elder Joined: 7/1/2011 Posts: 8,804 Location: Nairobi
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Swenani wrote:tycho wrote:Vallerrie wrote:I honestly don't get how people here are encouraging debt, like, in which world is drowning in debt a good thing? I may be naive but I actually like owning my money Kweli mwenye shibe hamjui mwenye njaa. Now people own their money? Are you guys Kenyan? People have gold reserves to back up their money....don't joke with wazuans who are JUCHED Mansa Musa?
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Intelligentsia wrote:Wololo, it sounds as though your take-home pay was not enuff to take you home.
The trick is in not avoiding debt altogether but making sure your debt-load is not so high as to stress you i.e no liquidity and that the debt/loan is invested in income-generating assets (that are preferably the ones actually servicing the debt and not from your payslip).
Otherwise your growth going fwd will be limited to the size of your monthly payslip (actualy take-home amt), and not several times your payslip (coz thats what a loan is). Tough luck if you cant save.
Actualy if you had reasoned the way you are doing now, its unlikely you would be having any of the properties you caim to be owning. For your info, I am a religious saver; my saving culture is second to none. With 200 shillings pocket money I was given back in the young days of my high school I managed to raise a small heard of cross breed cows which I conveniently leased to relatives. I will also not deny that I got a very WELL PAYING job within 2 months after graduating...I have never earned anything less than a 6-Figure salo and thats why I took so much loans and "good debts", even my first car was a brand new second hand from japan bought with a company load at 5% interest! I just managed to pay all my debts by close of business yesterday, I dont depend on this salo I get and in fact I can loan it to you if you want. People can get rich either through careful borrowing or by saving and continually investing. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Swenani wrote:Impunity wrote:Vallerrie wrote:I honestly don't get how people here are encouraging debt, like, in which world is drowning in debt a good thing? I may be naive but I actually like owning my money @vallo, leave them alone, its like trying to milk a rock... most of them have not experienced organism so they dont have anything to compare the freedom of debt-free with! By the way how do you enjoy your sleeps? Compare and contrast with them days you had those SACCO loans! You are a great woman indeed. Can you get orgasm/organism by eating dead fish? Siyui Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Member Joined: 11/1/2012 Posts: 290
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Impunity wrote:Vallerrie wrote:I honestly don't get how people here are encouraging debt, like, in which world is drowning in debt a good thing? I may be naive but I actually like owning my money @vallo, leave them alone, its like trying to milk a rock... most of them have not experienced organism so they dont have anything to compare the freedom of debt-free with! By the way how do you enjoy your sleeps? Compare and contrast with them days you had those SACCO loans! You are a great woman indeed. Don't worry, I get you, nowadays I sleep like a baby
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Vallerrie wrote:Impunity wrote:Vallerrie wrote:I honestly don't get how people here are encouraging debt, like, in which world is drowning in debt a good thing? I may be naive but I actually like owning my money @vallo, leave them alone, its like trying to milk a rock... most of them have not experienced organism so they dont have anything to compare the freedom of debt-free with! By the way how do you enjoy your sleeps? Compare and contrast with them days you had those SACCO loans! You are a great woman indeed. Don't worry, I get you, nowadays I sleep like a baby I'm glad I managed this status at my current age. I hope you too are "this young"! Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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Yaani hii debt free @ladyadmin hakupeleka huko kwingine? Kweli hii ni ya club SK!!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Elder Joined: 10/1/2009 Posts: 2,436
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Quote:People can get rich either through careful borrowing or by saving and continually investing.
Now there I agree.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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McReggae wrote:Yaani hii debt free @ladyadmin hakupeleka huko kwingine? Kweli hii ni ya club SK!!!! Wewe wacha zako, sasa unataka chokoza @lady admin for no apparent reason!  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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Impunity wrote:McReggae wrote:Yaani hii debt free @ladyadmin hakupeleka huko kwingine? Kweli hii ni ya club SK!!!! Wewe wacha zako, sasa unataka chokoza @lady admin for no apparent reason! Yaani unatuambia vile umamaliza debt na haoni..... ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Elder Joined: 7/1/2011 Posts: 8,804 Location: Nairobi
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Intelligentsia wrote:Quote:People can get rich either through careful borrowing or by saving and continually investing.
Now there I agree. The argument can't be true. If saving is turned to investment without innovation and technological advancement then wealth can't be created or increased. In fact, the economy will stagnate. And if there's to be growth in surpluses then there must be quantum leaps in capital infusion, meaning borrowing. People can get rich only if they maintain an optimum level that maintains a balance of payment where credit is greater than zero.
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Rank: Elder Joined: 10/1/2009 Posts: 2,436
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tycho wrote:Intelligentsia wrote:Quote:People can get rich either through careful borrowing or by saving and continually investing.
Now there I agree. The argument can't be true. If saving is turned to investment without innovation and technological advancement then wealth can't be created or increased. In fact, the economy will stagnate. And if there's to be growth in surpluses then there must be quantum leaps in capital infusion, meaning borrowing. People can get rich only if they maintain an optimum level that maintains a balance of payment where credit is greater than zero. @tycho... you are missing the point by several galaxies. The point of departure is not about what or the process the wealth/svings/capital will be transformed (i.e whether innovation or through tech.) but rather the SOURCE of that wealth: ergo, to borrow or to build up capital from savings? Either can do. I know many companies/ indivs who have grown organically and are very debt-shy. Recall Warren Buffet, personal wealth estimated at $60B, hardly borrowed and yet has the wherewithal to singlehandedly fund Kenya's Free Primary Education for a financial year. Others who have used debt prudently have also experienced quantum leaps in all their financial parameters - top line, bottom line, ROE,ROA, market share, cost-to-income ratio, the works. For @ Impunity, this Tip No 6 from 10 Ways To Get Rich will resonate with you: 6. Limit What You Borrow: Living on credit cards and loans won't make you rich. Warren Buffett has never borrowed a significant amount -- not to invest, not for a mortgage. He has gotten many heart-rendering letters from people who thought their borrowing was manageable but became overwhelmed by debt. His advice: Negotiate with creditors to pay what you can. Then, when you're debt-free, work on saving some money that you can use to invest.http://www.warrenbuffett...tt-10-ways-to-get-rich/
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Rank: Elder Joined: 12/17/2009 Posts: 3,583 Location: Kenya
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McReggae wrote:Impunity wrote:McReggae wrote:Yaani hii debt free @ladyadmin hakupeleka huko kwingine? Kweli hii ni ya club SK!!!! Wewe wacha zako, sasa unataka chokoza @lady admin for no apparent reason! Yaani unatuambia vile umamaliza debt na haoni..... I have noticed that the lady admin is slowly trying to impact some financial education to the hustlers, who spend the whole day in the market adjusting goggles.
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