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Headline : Help! I am stuck with shylock and Sacco loans

Read more from the original article on here at www.businessdailyafrica.com.





Tags : #help #am #stuck #shylock #sacco #loans


No. of Paragraph 38

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I earn Sh90,000 per month but despite getting a salary increase a year ago, I haven’t saved anything. I have an unpaid bank loan of Sh700,000 and my wife, who is a student, requires Sh10,000 monthly. I pay Sh8,000 for our daughter’s schooling, Sh9,000 for housing, Sh1,500 for Wi-Fi and Sh4,000 for water and electricity. I also provide Sh2,000 for my mother’s upkeep and Sh6,000 for my younger sibling’s university fees. I am repaying a shylock loan of Sh200,000 in monthly instalments of Sh30,000, and my monthly shopping expenses amount to Sh30,000. Please help me to get out of debt as I am approaching 40 years. 

You are in the accumulation phase of your life where you should focus on building and growing your wealth. This phase involves higher earning potential, active saving, investing, and planning for future financial goals.

Read more from the original article on here at www.businessdailyafrica.com.


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