A photo of youths entrepreneurship development logo.[Photo:citizentv.co.ke]
Youth in Machakos County have been urged to shun lavish lifestyles which only impact on their savings and investments.Speaking in Golimba on Saturday during investors party, John Kioko, a financial expert with Kentank companies said that many youths in the middle-class have relegated investments and savings to the back seat."It is a very dangerous trend when we have a middle-class that spends lavishly at the expense of saving or investment," said KiokoThe analyst also warned the youths against lifestyles that they cannot afford. "When you go for an unaffordable lifestyle, it can only mean one thing; you will be riding on debts to keep up with the expensive lifestyle you have adopted," he added.Kioko noted that 40 percent of Kenya's population consists of the middle class whom he said are key in driving the country's economy."The middle-class increasing consumerism, if not checked, will have a negative impact on our economy in the long term," he said.