Question: I am married with two children aged five and nine. I work in Nairobi, but my family is upcountry. This is my third month of employment, and I am earning a net salary of Sh43,500. My budget is as follows: Rent in Nairobi Sh9,000, rent upcountry Sh7,000, upcountry household budget Sh11,000, my Nairobi household budget Sh6,000, fare Sh3,000, upcountry fare Sh1,200 (biweekly). I am left with about Sh6,300 but most times, I can't account where this disposable income goes.
I have raked in four different mobile debts amounting to Sh36,700 which are in default; one debt of Sh6,700, Sh24,000, Sh2,500 and Sh3,500. I would like to pay these debts off and get out of CRB to take a bank loan of Sh250,000 to open a business upcountry for my spouse who is currently jobless. I am thinking about opening a cereals or hair salon business. Please advise on how to achieve this.
