Oh Lord won’t you buy me a Mercedes Benz?

This song played on repeat in my head when I listened to it earlier this morning. It’s a Janis Joplin classic. Have a listen…Mercedes Benz

Well, the song is about how the illusion of happiness from material goods is never delivered. Many of us have experienced this at one point (or more) in our lives. We look at our friends, family and peers and place some of them as a benchmark to our own lives.

We look so much to what others are doing that we forget to focus on our own lives. It’s like we are in constant competition with each other and most of this competition is unsaid/unseen. That is why I feel that it sometimes gets so easy for some to throw others ‘under the bus’ so as to get ahead.

It’s a race and we need to win

Rem: There will always be winners and losers – it all depends on how you perceive it

This I believe is why we make some terrible life choices at present that heavily weigh on the possibility of a good and stable future.

Money is good. I cannot deny that fact. We virtually cannot live without using money on a day to day basis. It sustains us. Money gives us satisfaction but it does not lead to happiness. Let us untangle those two words –

SATISFACTION ≠ HAPPINESS

I personally live by a few rules concerning money:

Wealth is the stuff you don’t see:

This is not in the number of cars, clothes, jewellery I have or even in the number of vacations I take. Money will get me all the material and worldly things that I want but wealth will give me a sense of freedom and security.

It’s all relative:

I will live my life so as to better myself (and family) and I will not use other people’s achievements and success as the benchmark for it.Why? Many people are actually very very broke. All they do is spend all that they earn so as to create the illusion to wealth or rather being “rich”.

What I have found is that feeling “rich” is all a mental game. If I have the right state of mind then I am good to go – no one can ever make me feel “a certain” way about my life.

The most valuable asset you can have is a strong propensity to not care what others think.

Earn – Save – Invest (Repeat)

This is self explanatory and meant to be the easiest thing to do but it is the HARDEST. Once that cash hits my bank account (and for some, you get that MPESA text with a new and “exciting” balance) I feel like a billionaire. It is time to party/spend.

That’s why the night life milks the “Just got paid” weekend because many people are out to “chafua” the weekend.

Since many of my readers are young I have a rule that works well for me (being a REFORMED young lady under 25):

55% of my income – monthly expenditure

25% of my income – saving/investment

10% of my income – feel good expenditure (if necessary)

10% of my income – emergency

If  you make much more than I do, feel free to change up these percentages

The only way to build wealth is to have a gap between your ego and your income.

There is much more that can be said or done with respect to money. If you have a rule that you would like to share, feel free to comment below.

It all starts with you. You are in charge of your own destiny.

SK

 

 

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5 comments

  1. Save before expenditure is my rule. And start saving no matter how “small” your salary is because of you can’t save 1shilling you wont be able to save 100 or 1000!!

    Liked by 1 person

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