[SIZE=7]Nearly 40% of Americans can’t cover a surprise $400 expense[/SIZE]
[ul]
[li]Although unemployment in the U.S. is at its lowest level since 1969, roughly 4 in 10 Americans would struggle covering a $400 emergency expense, Federal Reserve data show.[/li][/ul]
Yaani jibaba ako US halafu hata 40k emergency money hamna…huku kenya someone can comfortably save 20k…thats 250k per year …halafu wengine US cant even get 40k emergency…yaani living from paycheck to paycheck…living from hand to mouth
You can’t compare these people with Kenyans. A Kenyan with 500k in the bank is in a more precarious financial situation because the economy here works different.
Consider this;
Unlikely to be a diasporan situation. Most Kenyans are doing great and brought a culture of savings from Kenya.
Credit is cheap. You have a job and good credit and Banks will advance you tens of thousands at <10%?. Bad credit you still get a loan btw.
Public safety net is real. These will call the city ambulance and it’ll show up at their door no questions asked.
Full employment means you could have a new job by noon tomorrow if you so wish.
When I say do not tag me into stupid useless meaningless posts, this is exactly what I mean. I saw the thread and jogged on. Back to your question sijui. Now just go away.
Hii stori ya kuosha tunyanye is false.
I will use an example of people that i know to illustrate this.
I come from nakuru, a town that has experienced massive immigration to USA. My high school class had 270 students…out of these 158 went to states between 2003 and 2007 and most of these guys went to study. From our highschool whatsapp group 8 have already earned their PhDs and there is a sizeable number who are holding down very serious jobs…now the last 10 years these guys have been on a property buying spree…go to nakuru kiamunyi and milimani and see for yourself the kind of houses and rental apartments these young men and women have put up…they have actually retained 3 commercial lawyers, again from our class, who are ably carrying out these transactions for them. This is just an example from one school…yes we have a good number who are registered nurses…but we also have lawyers, doctors, professors and engineers…and ofcourse an odd one or two who ended up dejaying but things didn’t turn out well for them.
Nakuru youth (born 80s) left in droves…and they have invested heavily back at home…NBA and hip hop was a major influence…and those already there helped others to join them. Some of us also left but came back immediately after studies…
I can’t say much about those who went to the middle East…but those that went to USA, Britain and Canada are doing really well.
majuu pesa huwa na maana ukiispend uku kenya. lazima huwe na self discipline. ukiamua kuishi life ya raha majuu ata utarudi kenya maskini. ishi low life majuu, invest kenya
Working class people around the world, within developed nations as well and developing economies all need loans and credit cards to survive. People with mortgage commitments would have the property reposed within 3-6 months if they become unemployed; they have no accumulated savings to survive on. The debt industry is the most profitable industry.