Forget the false glamour and just live within your means

In a world where expensive designer clothes, smartphones and other fancy gadgets are released to the market every other day, where state-of-the-art shopping malls and chic eat-out joints are coming up everywhere, coupled with showy social media timelines, the pace of life could never be more breathtaking.

There is increased pressure to conform, to lead a life that is as exciting and as glamorous as that of your peers.

But what if you are not as financially endowed as your peers? What if the money you make is just enough to cover your essential needs?

How then do you fit in?

Do you use a taxi that you can’t afford just to show your friends how ‘cool’ you are, only to run out of bus fare mid-month? Or perhaps you skip lunch for days just to save for a single meal at an upmarket joint for show.

Are all these charades necessary?

MyNetwork spoke to five young professionals who have managed to keep at bay the fierce peer pressure that goads most young people into trying to live lavish lifestyles that are out of reach for them.

Brenda Majune, 25

Occupation: Lawyer

Alumnus: University of Nairobi

Brenda believes that the key to living within your financial capacity is to accept your circumstances and live within your means. She argues that comparing themselves to others is where her peers go wrong, adding that she has learnt to embrace her limitations.

“At 25 years, and on my first job, I cannot afford to live like a 40-year-old who has worked for more than 10 years. I have accepted my current financial position. I do not see it as a weakness, I have many years ahead of me to work towards a better life.”

“With, say, a Sh100,000 salary, I cannot afford to rent a house for Sh50,000 as much as I would want to live in a posh neighbourhood. Besides rent, I set aside Sh5,000 for monthly bus fare to work, Sh10,000 for food and other necessities, while the rest goes to savings.”

She shops for clothes and shoes at Toi Market (in the outskirts of the CBD), where prices are lower compared to boutiques in town.

Owing to the status associated with her career, one would expect her to own a car. She doesn’t.

“Having practiced for only one year, I cannot afford a car, and anyway, it is one thing to own a car and another to be able to fuel and maintain it. So far, matatus are serving me well, I use a cab only when it is absolutely necessary.”

She also thinks it is ridiculous to claim to be broke while in reality, many of her peers spend their money on classy clothes and flashy electronics and eating out in expensive joints.

“Once in a while I do socialise with colleagues and friends at fancy restaurants, but not often - even those with better-paying jobs do not party every day. 

Brenda is of the opinion that most young people are tempted to spend extravagantly due to lopsided priorities.

“Before I set aside money for entertainment, I first settle all my inevitable bills, such as rent and bus fare and then deduct my savings. Only then do I treat myself,” she says.

In her view, if one must belong to a particular class, they must be ready to work to sustain that lifestyle.

“Unless it is a jackpot you have won, success is never instant. Incurring debts to try to match another person’s way of life is unwise, and only piles pressure on you as the borrower, sometimes straining relationships with your creditors.”

Any loan that one borrows, she says, should only be invested in a business or to boost an already existing one, not to sustain a lifestyle.

Alvin Mukonyi, 25

Profession: Advocate at a Nairobi law firm

Alumnus: University of Nairobi

“I moved out of home late last year, right after I was admitted to the bar. The first challenge that I had was budgeting my money to ensure that it lasted me the month,” he says.

Alvin earns approximately Sh60,000 a month. He spends Sh12,000 on rent, about Sh4,000 on bus fare and Sh8,000 on shopping and food. Sh5,000 goes to entertainment. He saves the rest.

“You do not have to live in Lavington if you cannot afford that; life is not a competition, neither is it a 100-metre race,” he quips.

He searched for a house he can comfortably afford with his salary. The most important thing for him is the fact that it is in a safe neighbourhood and measures up to his comfort needs.

He deliberately does not go out every weekend, saying that if he did, he would end up spending more than the Sh5,000 he sets aside. 

“Learning to manage my money took me time; for example, I realised that I did not earn enough money to go out for drinks every weekend and that there are more prudent things to do with money, such as saving it,” he says.

Once in a while though, he gives in to impulse buying or spending money on things that are not of real importance, but the most important thing for him has been realising that not everything is a priority and that he needs to work within his budget.

So how does he deal with the pressure to look and behave in a certain way, a way often fronted on social media? Doesn’t he ever feel as if he is missing out?

“In the past, I would compare my life to that of my friends, going by what they posted on their social media platforms, only to realise much later that there is a lot of deception on social media.

"For example, just because someone posts a picture showing 500 beer bottles does not mean that he is drinking all that. Before I got wiser, I believed that this was the case, and would find myself spending unnecessarily and then being broke before the end of the month.”

“As time went by, I realised that I needed to become my own man and not be swayed by the lives my friends seemed to live, and also not to run to my parents every time I needed money, just to match my friends’ lifestyles.”

Parting short? “Be patient with humble beginnings and learn from your experience and that of others.”

Janet Machuka, 23

Occupation: Digital influencer, student, Moi University

For Janet, a third-year media science student, the secret to remaining afloat through the month is to take as many jobs as possible. Janet is a digital influencer, a brand ambassador and a contributing writer to Eve Woman, a lifestyle magazine published by The Standard newspaper.

“Life today is financially demanding. There are many needs, and everywhere you look, you are enticed to spend money. If you’re in college, the pocket money your parents give you would not be enough to fulfill all your needs. That said, I believe that if you’re in college, it is selfish to wholly depend on your parents for all your financial needs, there are many money-making opportunities out there,” she says.

Janet no longer takes loans from the Higher Education Loans Board, HELB, preferring to pay her own school fees.

“I realised that most of that money was going to waste – I would either lend it to friends who would not repay me, or use it to party,” she says.

To avoid unnecessary withdrawals, she closed her bank-to-mobile transactions. Now, she only conducts over-the-counter transactions. This also discourages impulse purchases that would otherwise be hard to resist if she had money in her phone.

“I am naturally a very generous person, the one that offers to foot the bill whenever hanging out with friends, and also intervening whenever a friend is in a fix.

"In the past, friends would abuse my generosity by borrowing money and not paying me back. Rather than lose a friend, I would choose to write off the debt. I once lent a friend Sh70,000, which was never repaid.”

She is also of the view that relying on one income is risky.

“At such times as these when the cost of living is at an all-time high, having something to fall back on is crucial.”

Thanks to her significant following on Twitter (she has 33,000 followers), Janet is contracted by corporates to push causes for them, and to promote their products.

“From all my income outlets, I earn roughly Sh100,000 a month. I save Sh40,000, while Sh30,000 goes to my school fees. My monthly shopping costs around Sh10,000. I spend another Sh10,000 on clothes and shoes. The rest is spent on upkeep and entertainment.”

None of her income goes to her hair and beauty products.

“I am a brand ambassador for Zene Natural Products. My hair is done at their salons, while all the beauty products I need are given free of charge, this way, I have managed to considerably cut down on my expenses.”

According to Janet, any opportunity to make money that presents itself is worth going after.

“Working with various entities has enabled me to appreciate work ethics while learning numerous skills.”

Patrick Kimani, 23

Profession: CEO, Inversk

Institution: University of Nairobi. Studying B.A. in Communication

Patrick Kimani has been living on his own since he joined university. By the time he was in his second year, he already had a job as supervisor at a restaurant in Nairobi. He later set up his own business, Inversk, in late 2015. This is an online business magazine that shares information regarding how to form and build businesses. He targets the youth.

“Being self-employed, my income varies – it ranges between Sh20,000 and Sh70,000. Most of the money I make goes to support my business expenses,” he says.

This is how he spends his income. “Before I spend anything, 10 per cent goes to tithe. Twenty per cent goes to rent and daily household expenses. Since mine is an online business, I spend Sh3,000 worth of data bundles a month. As for bus fare, I have strictly allocated myself Sh100 daily, so I commute mostly between 5am and 6am before the peak hours, when fare goes up,” he explains.

Since he does not go out at all, Patrick’s only entertainment expense is movies, and once in a while, books.

Every month, he also sets aside money to pay for his education and assist his parents and siblings.

Patrick points out that having parents who are not affluent is one of the factors that nudged him to begin to look for sources of income as well as plan with a focus on what was important to him.

Ruth Syovata, 24

Online-based freelance writer

Education: Linguistics, media and communication, Moi University

As an online writer, Ruth says it was important for her to learn how to spend wisely, due to the irregular nature of the job and the erratic flow of income.

“I am contracted to undertake various writing tasks for different people. The modalities of payment differ from one client to another. Some pay through my bank while local writers pay through M-Pesa. There is also never a consistent schedule for payment,” she says.

With this kind of job, Ruth emphasises, a high level of financial prudence is necessary for survival.

“Sometimes I have money flowing in and other times I have absolutely none coming in – it all depends on the flow of work. I could go for weeks without money.”

To cushion herself from lean days, she operates three bank accounts; one for rent, her monthly shopping and miscellaneous expenditure, the second for projects, while the third is a savings account.

This, she says, has ensured that no money goes to waste. Ruth adds that she withdraws from her savings account only when there is a compelling reason to, such as during an emergency.

“I prefer to use debit, rather than credit accounts because I need to exercise financial self-discipline.”

To be financially sound, Ruth believes denying yourself is key. “I strictly do not eat out. If I want to eat chicken for instance, I buy the chicken and prepare it at home; it costs less, is healthier and also allows me to prepare meals the way I want.”

She buys possessions such as household fittings in phases, rather than at once or impulsively, a strategy she says allows her to budget properly and gives her enough time to shop for what she wants.

“There are many fancy furniture stores today, even overseas brands. They sell the top-of-the-range products, usually at inflated prices. It is the same with ready-made pieces.

When I went to buy a bed in an outlet that deals with ready-made furniture, the prices ranged between Sh12,000 and Sh18,000. My father asked me to hire a carpenter instead to make one for me. I heeded his advise and ended up spending less than Sh6,000 for a similar-looking bed.”

Hiring a carpenter, she says, allowed her to monitor the price and quality of wood used, and to dictate the design of the product.

“I was also able to negotiate the fee, an option I could not have had, had bought a bed at a store.”

Ruth has learnt to consult before putting her money into anything. “Asking my parents for advice has cushioned me from being fleeced.”

She adds that she conducts price comparisons in various stores before buying an item, a practice she says has made a significant difference in her balance sheet in the long run.

“I have learnt to buy things in ordinary shops as opposed to dealers, whose prices are usually high and non-negotiable, owing to the name of their brand.

"If I can get a nice settee at my neighbourhood furniture shop, why would I want to buy the same type of sofa at a supermarket at nearly twice the price?” she poses.

To further cut on expenses, Ruth has learnt to make some household articles herself, instead of buying them.

“Most people would be surprised by how easy it is to make things such as pillows, door mats and other decorative items - DIY is a great way to save money.”