Nairobi News

We all have made mistakes with our money, blowing cash on useless projects or investing in bad business ideas.

However, most of us have learnt from our mistakes and taken careful steps to patch up our credit scores.

On Wednesday there was a heated discussion on Twitter where Daily Nation contributor Mariga Thoithi asked, “What’s the single worst financial decision you’ve ever made?”

Here are some of the answers on that post:

Thoithi has not been spared as he confessed: “Lol I had an older car and a few months was all I needed to learn. I spent half the amount of the sale price on repairs before I gave up. It was leaking money. I was paying the equivalent of a child’s nursery school fees somewhere in a small private school, in costs.”

Ferdinand Omondi added, ‘It involves family, so I will keep it to myself. Let’s just say seven figures were involved, and I am still gnashing my teeth. I almost became a motivational speaker. But God is good, all the time.”

Elvis Gromyko commented, “Overhead some senior financial advisers saying you buy shares when they are at the lowest price..went to the bank and emptied my 25k, bought Kenya Airways shares at 6/-. The next month they went down to 4/-. Nowadays I hear the plane sound, nafikiria hio ni pesa yangu wanatafuna.”

Samuthemba wrote, “Kununua zile ploti za Maina ati ‘in three years this place will rival runda’, then 6 years later bei ata imeshuka and no-one wants it even for free. Maina is nonsense.”

Kenny Mburu posted, “Investing in a certain local sacco, it ended in tears… Everytime I imagine my money is fuelling some scammer’s benz, naisha nguvu magoti.”

Kiplangat Mursi lamented: ”Planting onions with some friends in Kisaju. Only one person knew where the land was and what was happening. We used to just give money asked for operating costs monthly. It ended in Premium Tears.”

Elizabeth Njuguna said: “Took a bank loan for a sibling that I once idolised. Ended in premium years. I’m just now finishing it after 5 years of paying by myself. And the sibling has never even apologised or wanted to know how its going on. Never ever ever again.”

Wangari wrote, “I bought a kafuroti (plot) *1/8th huko isinya back in 2012 via a colleague. We got the title deeds but got no idea where the land is. None of those who bought know… We highly suspect we were conned. As a fresh graduate, I should have done something better with my new earnings.”

Mamou said, “Taking a loan from a bank… two months later, i was fired from work. I saw fire! Moved back to my parents house. Started from zero again. Had to do odd jobs just to pay up my loan. To this day, i don’t know how i recovered. Wah.”

White Forest wrote,”Debt from these ‘logbook credit companies’. 500k loan for which i received 475k. The total ammount paid back within 2 years and 5 months was 2.4m. Calculator zao work with magic I tell you and they always have you by the neck.”

Peter Waweru commented, “Planted nyanya 7 acres with a friend based in Narok in 2019, mimi kazi yangu was to just send money from Nairobi. Nilifika pale and the river dried just before our first harvest, nilijaribu paka kununulia maji ya trucks…..ata kupitia io barabara gives me stress.”

Miles added, “Took care of someone’s son when he lost his job. Even left him money for meals while I was at work. Lost my job this year, Jadwong left and blocked me everywhere…. Machoooos tu.”

Wajiru_ posted , “I’d have to say my worst decision was taking a loan with KCB MPESA once they randomly increased my limit to 42,500/-. Without a reason. Just because I could access such a loan. I bought nothing of substance.spent it on credit mingi na anasa.Kulipa ilikuwa matanga.”