I have 3 ‘baby mamas’ at 23 years: How do I manage on Sh45,000 salary

Dear Dr Pesa,

I am a 23-year-old man, straight out of campus and I just landed my first job; of which I am very proud. I earn Sh45,000 per month and I manage that pretty well. The problem is, I am also very handsome and it's hard to keep the ladies away. I may have further gotten myself into trouble by getting three women pregnant (20, 26 and 35 years of age). The babies are due within just a few months apart. Although I intend to be there for all my children, two of the women have already threatened to involve the authorities should I prove to be a dead-beat dad. The good thing is, they do not know about each other. I love my job and I hope to stay at this company for the next five years or so. Daktari, how can I manage to save for my future and still provide for all three children?


Hi Morris

SEE ALSO :How to build an emergency fund

As the law is very clear that a child need support from both parents, first plan how much you will need to forfeit monthly for the up keep of each child you have sired before the law catches hold of you. 

You can also decide to marry one of the lady to ease the burden or all of them which I don't think you can manage with 45,000 salary.  But as you decide, remember your old age lifestyle will depend on what you save in your youthful years. 

You can decide to put some small saving in a Sacco which will earn you dividends at the end of the year and also create an opportunity for you to take a loan or invest some little money every month in stocks. 

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Finally, remember preparation for retirement starts immediately you earn your first salary and therefore you are running late.

Dr Pesa this week is Dr David Kabata. He is a personal finance expert as well as an entrepreneurship and innovation lecturer at Kirinyaga University. ([email protected])

SEE ALSO :How to start a business

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Dr PesaPersonal FinanceDr David KabataSaving MoneyRetirement PlanBaby Mama