A Kenyan counting money[photo/allafrica.com]It is certainly no surprise that majority of Kenyans facade to financial hardships every January. The month has been tagged the longest in the year not because it has extra days but because of financial hardships, most Kenyans face during the month.
African middle class is not as safe as their Western counterparts. The salary for middle-class workers in our country is not a match for salaries in the Western countries.
For instance in Kenya, a person in the middle class will have to look at the needs of the extended family before spending on luxury. By the end of the day, she/he will find that her/his resources are overstretched. In addition to attributes the hardships to the growing young population joining the job market every year.
These young workers barely have skills to manage their income, which in reality is meager but appears much for them. There is a lot of young population joining the job market.
Very few of them know how to manage their income. During the festive season, they will spend all their money on luxury without caring about the future. In January that is when they feel the financial hardship,” he says.
Seeing the “success”, relatives will want to have a taste of the money minted in the city.
Indebted to ascertain their achievement, such people will give in and end up spending money meant for January needs in December.