Lessons to be Learnt From the Whole Chase Bank Debacle…How to Ensure Your Life is Not Put Under Receivership #20BobNiMob

Yesterday the country woke to very sad news that “cool” Chase the bank was going under receivership much to the astonishment of the nation. People on twitter went berserk over the issue bringing out their financial prowess into the whole thing with each of the tweeps putting out their best analysis in an attempt to gain more followers; because truth be told, that’s what’s it’s all about in those streets.

Anyway, I empathize with the victims who are not subject to borrowing money from friends and close relatives just to stay afloat and I doubt if many will be very co-operative. A god lesson, since now you will be able to find out who your true friends are and which ones you need to kick to the curb.

Bearing that in mind, there is another lesson to be learnt, that of ensuring that you fulfill your financial obligations as a person and you don’t have to be put under receivership, under the barbaric hands of the landlord, exorbitant retail stores and irrational spouses.

In simple, this is what I mean….if you don’t budget well, there is a higher likelihood you might not be able to pay your rent next month and trust me your caretaker will not be the least merciful. Actually he won’t hesitate to embarrass in an attempt to seek vengeance after you hooked up with Lucy from first floor and whom he had been trying to score with for the last 5 months. I doubt if your mami will be very receptive when you eventually cut short those Friday visits to Mojos every now and then. Did I also mention your supervisor might not take it well when you show up to an investor meeting with a torn shirt? Oooh, guess I forgot that little minute detail.

And how do you start budgeting you may ask? Well, according to Class 101 of Financial freedom, the first thing you need to do is cut out the luxuries and focus on the necessities. And what is a common luxury among young people nowadays? Yes, your guess is as good as mine….the internet. Millennia’s are spending endless time and resources what sapping, DMing each other on instagram and snap chatting their friends and colleagues. Guys are spending more than 200 bob every day on data and we can all agree this is not sustainable.

But what to do considering we are hooked? Move to Unliminet 20 is all I can tell you. With only 20 bob which most of the time just ends up in the hands of the sweets guy who enters your matatu on your way to work in the morning, you are guaranteed 20MB data, 8 minutes talk time to any network and 20 SMSs to any network. That is approximately 180 bob saved every day with translates to Ksh 5040 a month and 60 k every year.

I’m not saying this is your gateway to financial freedom but its one hell of a place to start.