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Saturday, March 30, 2013

More Money, Less Rich

 

The story of

Mr. Name I.S. Withheld

 

When I was a young teacher earning 2330$ a month, I bought a piece of land worth 17,000$, owned a bicycle that cost me 950$, fed myself, sent 500$ to my parents every month and eventually built a house whose market value was over 40,000$ over a period of two years. In two years of earning a total of 55,920$ in salary, my net worth was more than my total earnings over that period of time. I was a simple teacher.

 

As a corporate executive my fortunes changed dramatically with a rise in income to 14,000$. Over the next two years, I bought a car that gave me no end of problems. Moved into an up market house and furnished it with all things good. And went into steadily rising debt. I was a fast rising executive with a budding career. And why not?...

 

But this picture disturbed me. Try as I might I could not get out the vicious cycle of growing financial crisis even though my income increased to the dizzy heights of 60,000$ per month. Despite earning more I was actually reaping less…?

 

When I eventually lost my job at a high point in my career to take on more satisfying work earning much less money, I realized how much I had wasted on things that were not adding value to my life. I kep thinking,"If only I had continued with the prudence I had when a teacher and merged that with the money I earned as a corporate executive I could have done more with less".

 

Does this story sound familiar?

 

Allan Bukusi

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