A few weeks ago I did an article on what to do in your 20’s. Now here’s one for those of us in our 30’s. My friend once told me… “This is it! ” This is what we have been waiting for…here’s a list not in any particular order.
1. Join a chama… form it into a company or self help group and have a constitution. If some members don’t follow it… kick them out. No hard feelings… Only be left with serious members. Have a clear goal e.g.. to buy 1 acre of land and subdivide it into 10 plots to build residential houses in a gated community… or to save money towards project ABC… or to do a merry go round etc.
2. Sort out your ” heart matters”. Real estate investments are capital intensive and require a great deal of time to payback. Therefore, as much as possible, have a stable relationship… whether single, married, divorced…try to get out of “it’s complicated ” phase… you need some stability in your life…long term commitments like loans and mortgages require a stable mind… define your relationships … with baby daddy or mommy, with girlfriends or boyfriends, with friends, spouse etc… you need to know who is in your camp and who isn’t.
If you are alone, then forge forward as a one man/ woman army.
If you have a partner, formalize the relationship. Then synergize. One can chase a 1000. Two can chase 10,000. Bible. Two are better than one because they have a good return for their labor… if one of them falls, the other will lift him up. Bible.
Talk to Tajicakes for that wedding / commitment cake even if you go to the AG’s office …With this stability, go for gold… go for your dreams …
3. Stop carrying lunch. You might argue that you are saving money by carrying lunch… maybe you are… but you are missing a whole hour of bonding and networking with your colleagues… unless of course your restaurant allows food from outside… then by all means carry your food. But if you eat while sitting on your desk… this is the time to eat out with your friends or colleagues at least once or twice a week.
4. Money is everywhere… focus on the hustle that you understand… don’t be swayed. Keep to your lane… and excel in it. This doesn’t mean that you don’t diversify… far from it… it means you focus.
5. Have some focus on how you invest… have some long term investment.. like very cheap land of say Kshs 50,000 per acre..that you can sell after 20 years… and plant some trees on it… mid term investment like a plot you can build your house… instead of buying an overpriced plot… buy land with your sacco or with your chama as shown in 1 above.
6. House your parents. Not necessarily a big mansion in Runda… maybe just repair their roof or repaint the walls or pay for electricity or water connection.
7. Get Insuarance. NHIF should be mandatory. Pay school fees and also get an education policy for the kids….both the known and “unknown kids”.
8. Build a credit history. If you are negatively listed on CRB, sort it out. Get into a SACCO and save consistently. Then borrow strategically and build yourself.
9. Build a “Simba” at your rural home. Nothing elaborate… not a status symbol …a basic house… where you and the kids can sleep when you visit your aging parents.
10. Employment is a good business. Don’t resign just yet… instead, develope yourself and position yourself for a promotion or for another job. My submission, before you resign, secure shelter for family.
11. Connect spiritually. It will help you overcome bad habits and God will bless the works of your hands.
12. Re invest in your business/ side hustle. Get serious about your hustle. Do a business plan… forget the pressure to drive a 4 wheel drive… stay focused. This is the time to take things to the ‘next level’. Increase your capacity.Keep proper books of accounting and proper financial records. Take advantage of cheap loans like the youth fund. I like to give an example of the corporate sponsor for this blog … yes you guessed right…Taji cakes. When the owner started advertising on my blog, it was a start up. Today, about 2 years later the business has 4 employees, a commercial oven and has build a bakery. She plans to start training on baking soon.
13. Use professionals. The decisions that you will make… let them be objective and wherever possible, consult a professional. A wise man once said, if you think knowledge is expensive, try ignorance.
14. Take care of your health… exercise, eat healthy, drink responsibly, go for a checkup especially in areas you know you are predisposed and of course, have safe sex. In fact, just drink water from your own well. Bible.
15. Vote to protect your own interests and investments. The politicians vie to amass and protect their own wealth. That MCA or MP might be the answer to the street lights or water you have been hoping to get to your estate. Vote wisely.
16. Take loans…. to invest more than to consume.
17. House your family. Housing is a basic need.Housing is not a liability… it’s a need. Why are you earning?
18. Have a strong faith to enable you fight the evil one.. “The thief comes only in order to steal, kill, and destroy. I have come in order that you might have life—life in all its fullness. John 10:10 GNT
19. Start training. Become a trainer to earn an extra coin and to help another person.
20. Spend time with your family. In fact let’s say… invest in family time.
21. Take very very calculated risks. Unlike in the 20s..some financial mistakes in the 30s are hard to recover from…since by then there are many competing needs for your resources (family etc).
22. Read good books. Start with; The ABC of Real Estate Investment in Kenya. Click here to look inside the book. Read regional and international newspapers and watch international channels to get a wider view of the world and the opportunities outside your current horizon.
What is money? In my opinion,
money is a means to an end, not the end by itself.
Money is NOT everything.
Jesus was only 33 when he saved the world… Alexander the Great was only 27 when he conquered his known world.
The staircase and interior decoration is the work of the Interior designer Ms. Wamuyu. To see more of her work visit https://www.wamuyutira.com/ and call +254 738 147 314. She is based in Westlands.
Kariùki Wawerù is the author of Kenya’s ONLY real estate book called “The ABC of Real Estate Investment in Kenya”. To have the book delivered to your door step, kindly call +254 723 477 035 or email email@example.com