In the year 2021, Kamau was stuck in a relentless cycle of financial struggle. Despite working hard at his 9-to-5 job, he always found himself broke before the end of the month. His salary would vanish as soon as it hit his account—bills, impulse purchases, and an addiction to quick-money schemes drained every shilling.
At first, he blamed his employer, believing his paycheck was simply too small. Then he blamed the economy, claiming life in Nairobi was just too expensive. But deep down, he knew the real problem wasn’t external—it was his own financial habits.
One day, after losing his last 5,000 shillings in a bet, Kamau sat down and reflected on his situation. He remembered a quote he had once heard: “If you always do what you’ve always done, you’ll always get what you’ve always got.” That hit him hard. He realized he had been repeating the same mistakes, expecting different results.
Determined to change, Kamau took the first step—he stopped gambling. The thrill of easy money had blinded him to the harsh reality that most gamblers lose more than they gain. Instead of chasing luck, he started looking for ways to secure his financial future.
He set up a savings account but soon found himself withdrawing from it too often. Emergencies, unexpected expenses, and poor budgeting habits made saving seem impossible. To counter this, he joined a SACCO, making it harder to access his savings impulsively. He also opened a fixed deposit account, ensuring that his money would work for him rather than sit idly, tempting him to spend.
Realizing that his salary alone wouldn’t get him out of financial limbo, Kamau looked for additional income sources. He tapped into his graphic design skills and started taking freelance gigs. The extra cash helped him cover daily expenses, allowing his salary to go towards investments and long-term savings.
At the same time, he became more mindful of his spending. He cut back on unnecessary luxuries, started budgeting diligently, and avoided lifestyle inflation. It wasn’t easy—he had to make sacrifices, skip nights out with friends, and resist the urge to buy the latest gadgets. But with time, these small choices began to add up.
By the year 2023, Kamau’s life had transformed. He had a solid savings fund, a growing freelance business, and even made his first small investment in real estate. The cycle of brokenness that had trapped him for years was finally broken.
Looking back, he realized that financial freedom wasn’t about how much he earned but how he managed what he had. Kamau’s journey was proof that with discipline, strategy, and patience, anyone could rewrite their financial story.
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Despite your efforts to increase your income and cut down expenses, you still find yourself struggling financially. You long for financial freedom, but it always seems out of reach. So, what’s going wrong? Let’s explore the reasons why you might always be broke and how you can turn things around.
1. You Are Trapped in the Gambling Craze
From sports betting and lotto to pyramid schemes and get-rich-quick business ideas, many fall into the trap of trying to make fast money. The reality is, 95% of those who engage in such ventures lose their hard-earned cash, while only a small percentage win—often just enough to keep them hooked for another round of losses.
If you’re not a Ponzi scheme mastermind or a professional gambler, avoid risking your money on unreliable ventures. Instead, invest in real, sustainable opportunities. If you must gamble, ensure that you’re only using money you can afford to lose.
2. You Save, but Unexpected Expenses Drain Your Account
You may be disciplined, work hard, and save diligently, but every time you set money aside, unexpected expenses arise, forcing you to withdraw your savings. The cycle repeats itself month after month, leaving you with little to no financial progress.
This indicates either you are living beyond your means or you have too easy access to your savings. To combat this, consider keeping your money in a fixed deposit account or a SACCO where accessing it is a bit more complex. Additionally, find side hustles to generate extra income and build a financial plan you stick to, regardless of challenges.
3. You Have No Clear Budget or Financial Discipline
Every payday, you have a rough mental plan for your money—covering bills, repaying debts, enjoying some entertainment, and saving what’s left. However, by mid-month, you find yourself struggling, wondering where all the money went. In some cases, you even resort to salary advances or digital loans just to stay afloat.
This is a sign that you lack proper budgeting and financial discipline. Track your expenses and create a detailed budget, ensuring you adhere to it. Financial discipline is key if you want to avoid the cycle of brokenness and finally take control of your finances.
4. You Invest in Depreciating Assets
It’s not wrong to own nice things, but if all your money goes into items that lose value—like expensive phones, designer clothes, flashy cars, and luxurious furniture—you’ll always be broke. While enjoying the finer things in life is not a sin, balancing asset acquisition is crucial.
For every luxury purchase, invest in something that appreciates in value, such as land, stocks, or unit trusts. If you’re buying an expensive phone, also consider purchasing shares in a profitable company. This strategy will help you build wealth instead of just spending it.
5. Poverty Mindset Runs in Your Family
For many, poverty is not an individual problem but a generational cycle. The financial decisions your parents made years ago may have set you up for financial struggles today. If you’re not careful, you’ll make the same mistakes and pass on the poverty baton to your children.
The solution? Break the cycle by making strategic, future-focused financial decisions. Think beyond immediate gratification and implement long-term plans to secure a stable financial future. Radical change is necessary to eliminate financial hardship from your lineage.
The Story of Chris: A Lesson in Financial Transformation
Chris had always struggled with money. Despite earning a decent salary, he found himself borrowing by mid-month. Gambling seemed like a quick fix, and he spent thousands hoping to hit the jackpot. Each month, he promised himself he would save, but emergencies always seemed to arise, draining his account. Worse still, he often splurged on new clothes, a sleek car, and weekend parties, leaving nothing for investments.
One day, after another sleepless night stressing over bills, Chris decided enough was enough. He started tracking his expenses, cut down on unnecessary spending, and opened a fixed deposit account. He learned about investments and put money into a SACCO and real estate instead of betting. Within two years, Chris had broken the cycle of brokenness. His financial discipline and strategic decisions set him on a path to wealth.
Like Chris, you have the power to change your financial future. It starts with recognizing where you’re going wrong and making intentional efforts to correct it.
Take Control of Your Finances
At the end of the day, financial stability is a result of the choices you make. You are free to make any financial decision, but you’re not free from the consequences of those decisions.
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