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Help! My husband and I took loan to buy a plot, we are now drowning in debt

Financial recovery is a gradual process that requires discipline and willpower. Focus on small milestones, such as clearing one debt or finding a new income stream.

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Simon Mburu

By  Simon Mburu

Contributor

Nation Media Group

My name is Pauline. I am 38, married, and have two children. We live in Nairobi. My husband and I both have full-time, permanent, and pensionable jobs, earning a combined Sh190,000 after statutory deductions.

Our monthly expenses are as follows: Rent Sh30,000, electricity and water Sh3,000, transport Sh8,000, house help Sh10,000, shopping Sh25,000, support for parents (black tax) Sh15,000, upkeep for orphaned niece in college Sh10,000, school fees (termly) Sh24,000, cooking gas Sh5,000, children’s Sunday outings Sh5,000.

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