Let me just dive into this real quick by telling you my mistake.
In my twenties I invested my saving (Yes, at this age I had some cash) into the deci scheme, coz I figured everyone was making mad cash, well I lost it all and was broke.
No Money, nada. I kick myself upto this day having believed this garbage, now I’m adopting a frugal’er lifestyle. But on the real guys, how do you learn and grow? By making mistakes that becomes your life lesson. So no more stupid spending for me.
Anyho let’s get into some of the biggest and worst financial decision ever made by Kenyans according to the thread.
The thread was began by KOT @marigathoithi, who gave several examples of the mistakes he made.
I bought a phone worth a full month of my salary years back. A Nokia E5 Face with tears of joy
An old car that cost me more than half the sale price in repair costs. A few months was all I needed to learn my lesson. It was the financial equivalent of paying school fees in a small private school
His second mistake?
Working without a down payment had me lose 250,000 on a job last year. Contracts are sometimes just pieces of paper. Money is king
Here’s the third one. This one I wept for him.
Oh and financing a full week’s holiday with someone’s daughter while unemployed at the time Face with tears of joyGrimacing faceGrimacing faceGrimacing face
This someone’s daughter later, when I was broke asked me why I didn’t save and make better choices and how I would have kept my household going if we were married
Below are details of peoples decisions and how it impacted them. Drop your comments too. We would love to help you weep.
Bitcoins. Didn’t know when to exit when the bubble bursted. I lost 5m and went into depression
One day i bought Iphone 7+ pale OlX. Told the seller we meet at kfc ya tao. Asked to pay via mpesa, he said cash only. Went and withdrew 50k, gave me the phn went home. It was on bat low, Once home i charged it, kuwaka,it had the samsung open tune. Aki machosi tu! 50k gone hivo 2
I think spending 100,000 to just boost the car’s performance and the difference wasn’t that mind blowing.
Bought someone’s son a bracelet worth some shillings… He turned around and gave it to his other girlfriend…
Used to import cars to sell .. managed to get bank financed clientele and it all went smoothly until I got one client through a showroom (Timez Cars) next to Mater Hops sth B. Usually I’d give the logbook copy to the financier and they have to change transfer the logbook before..
Issuing payment. So I handed in the copy to the showroom who were facilitating the sale and left the vehicle at the showroom. Got a down payment for it and kept on following up for the balance. 2 months later I arrive at the showroom only to find nothing but the DCI guys there..
Taking a loan from a bank… two months later, i was fired from work. I saw fire! Moved back to my parents house. Started from zero again. Had to do odd jobs just to pay up my loan. To this day, i don’t know how i recovered. Wah.
Buying an apartment of plan afew years back a cool 900k “drank water”
Developer disappeared without a trace upto this day. I see houses being advertised of plan nakumbuka pesa yangu my diaphragm collapses