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Reason anyone earning Sh100,000 shouldn’t buy a car


Joseph, a personal finance YouTuber, recently explained why individuals earning a monthly income of Sh100,000 should think twice before purchasing a car for personal use.

In one of his videos, Joseph illustrated his point with a case of a couple earning Sh90,000 monthly. The duo eventually had to sell their vehicle due to the financial burden it caused, leaving them with no ability to save.

“I spoke with a couple earning nearly Sh90,000 a month. After breaking down their income and spending, it was clear that buying a car was a mistake. Ultimately, they chose to sell it,” he shared.

Joseph emphasized that many people acquire vehicles through loans, which require monthly repayments. For someone with a Sh100,000 salary, roughly Sh30,000 would go toward repaying the loan, while necessities such as rent, groceries, and general shopping could cost over Sh40,000 CONTINUE READING

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