I have 3 ‘baby mamas’ at 23 years: How do I manage on Sh45,000 salary
SEE ALSO :How to be a happy millionaireAs 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. 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 make your first million
We are undertaking a survey to help us improve our content for you. This will only take 1 minute of your time, please give us your feedback by clicking HERE. All responses will be confidential.