Of Financial Insecurities & Enlightened Greed

Let’s have an honest conversation about our financial insecurities

1. Student loan-HELB

Every time I review my net worth, this is the one item that makes me feel like a loser. I consistently paid this loan from November 2016 up to mid last year then I woke up one day and just gave up because I didn’t see any significant change in the figure. I was doing the minimum $30 payment at the time. I decided to focus on building a Nairobi emergency fund first before I went back to paying HELB but life happened and I just haven’t resumed paying. It’s the only debt I have, and it bugs me daily.

On college debt; rather than the pursuit of learning & culture, it has become the pursuit of job training in an effort to secure employment that will justify the astounding cost and debt incurred. — JL Collins

2. Financial competition with friends

Being open to speaking about money with friends brings a multitude of benefits, the best one is that you cease to speak, spend and invest your money from a point of fear. However, when you get to know what your friends have achieved or are doing with their money, you sometimes get tempted to copy them. You begin entertaining thoughts of changing your financial plans. You sometimes even feel inferior or like you’ve done too little at your age. You even doubt if you’re making any significant progress when people share the amount of money they have put in in investment X. I have often found myself wondering “where the hell did she get such an amount of money?” “What I’m I doing wrong?”

Any fool can spend money. But to earn it and save it and defer gratification — then you learn to value it differently. — Malcolm Gladwell

3. Giving money out of guilt

This is one financial insecurity a lot of people struggle with, I included. I recently experienced a family situation where I’m expected to give because the person assumes that I have extra money, while at the same time disregarding the fact that during this lockdown, I’m fully responsible for myself and need to keep as many of my coins with me as I can.

A lot of times, we’re angry at other people for not doing what we should have done for ourselves. — Rupi Kaur

4. Privilege. And the fear of it.

There was this piece of writing that was making rounds on social media this week. A privilege checklist. If you have food, running water, a roof over your head especially a comfortable one with ample space, have stocked up food during this pandemic, and have an emergency cash reserve, it means you’re privileged. I ticked most of those boxes then I caught myself feeling guilty for it. Isn’t this what I have been working hard for all these years?

5. I’m good at Math

Wasn’t this article supposed to be about financial insecurities? Oh yes, ‘I’m bad at Math.’ I have put that in quotes because after I read Malcolm Gladwell’s David and Goliath: a book about underdogs, misfits and the art of battling giants, I made a mental note that I would never use that as an excuse for being fiscally unfit. Also, that’s a high-end book recommendation.

  • Decide the type of person you want to be.
  • Prove it to yourself with small wins.



Your voice of reason before you blow all your money this weekend! www.thewealthtribe.com

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