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.
Dominic Karanja, a financial and investments consultant
