Skip to main content

Middle Class In Kenya and The Wanna-Be Middle Class Kenyans.




Middle Class In Kenya and The Wanna-Be Middle Class Kenyans.


A recent survey indicates that for you to be considered as a middle class earner In Kenya you must earn between Ksh 70,000-120,000 per month. This Killed many dreams including mine of being a middle class earner. Well on Average Many Kenyans earn Ksh 50,000 per month. Well this is the lot that thinks they are the middle class earners. When the money thirsty Revenue Authority scoops its chuck of tax you end up with a net of approximate of Ksh 41,000 Well if I am right according to my calculations the new Income tax brackets probably will save you Ksh 700 at most. So you pocket this if you're the realistic Kenyan who doesn't bombard his or her payslip with the so called loans, top-ups, refinancing as the blood sucking banks calls them or from the ever growing number of Saccos. Lord Help us!

So a consumerism economy we are! With malls sprouting everywhere and office space flooding in the suburban’s and the booming real estate market. That the upper class elites are investing in and ramming it down our throat. Hence Mortgages here we come! The same lot wanted us to use Beba Cards have no touch with the reality happening at the grass root level. The Bebapay prepaid cards project failed horribly. Really! You expected the ordinary Mwananchi to have a dedicated amount of money in the bank or Mpesa account to specifically allocate it to travelling expenses, well In case you aren't aware Kenyans pay half of their income to the Lord Landlords, And somehow divide the rest on food and other necessities. Bus fare i; e cartel fees is an expense that is tackled differently each other day.

Every hardworking Individual and serious focused youths aim at acquiring an apartment or piece of 50 by 100 to build a house. In case they aren't spending their meager savings on Shisha and Jameson Irish Whiskey. 

So with every Harry shopping kale at the mall, want Loans to facilitate their UN-affordable lifestyle and consumerism taking its big share. From my limited Economics knowledge it’s fairly possible to predict that hardship days are looming by. Not forgetting corporates layoffs are something to worry of. Well to the Middle class wanna-be.Make hay while the sun shines.

Comments

Post a Comment

Popular posts from this blog

FULIZA MPESA

Fuliza M-PESA is a new service which allows M-PESA customers to complete their M-PESA transactions when they have insufficient funds in their account. 1. What is Fuliza M-PESA?  This is a service that allows M-PESA customers to complete their M-PESA transactions when they have insufficient funds in their M-PESA account.    2.What are the requirements and how do I activate Fuliza M-PESA Service? You need to be an M-PESA registered customers with an active Safaricom line. Dial *234# and select Fuliza M-PESA to opt in. 3. How many accounts can I hold for Fuliza M-PESA services? Every M-PESA registered line will be treated as a different account. Each mobile number will qualify for Fuliza M-PESA and will be awarded a limit. This limit will be reviewed every 3 months depending on your usage. 4. How will I know my Fuliza M-PESA account details? Dial *234# and Select Fuliza M-PESA to check your limit, balance, mini statement and opt out option. Ev...
Post a Comment
Read more

MPESA CHARGES

These are the new Mpesa rates after the government increased tax on mobile money transfers by 2% on July 1 st  2018. The fees include  Mpesa withdrawal rates  for ATM and Agent withdrawals. Safaricom Kenya  has flexible M-pesa tariffs and fees: some services attract no charge. All Mpesa deposits are free. The maximum you can send is Ksh 70,000 per transaction and Ksh 140,000 per day. Use the  Mpesa charges calculator  to get actual Safaricom Mpesa rates for any amount within the allowed limits. Below is the Safaricom Mpesa charges  MPESA CHARGES /. M-PESA charges will depend on the amount you are sending or withdrawing. You can use your M-PESA menu to buy airtime for your phone, or for someone else. This service is free and you will only pay for the airtime purchased. NOTE: Maximum Account Balance is KSHs.100,000 Maximum Daily Transaction Value is KSHs.140,000.Maximum per transaction is KSHs.70,000 You cannot withdraw les...
Post a Comment
Read more

HOW TO FILE VAT RETURNS ON ITAX- KRA. VAT FILING ON ITAX. KRA VAT RETURNS.

HOW TO FILE VAT RETURNS KENYA-KRA ITAX Any person supplying or who expects to supply taxable goods and taxable services value of which is Kshs. 5 Million or more in a year qualifies to register for VAT. Everybody realizes that VAT reporting and instalments ought to be made prior to the twentieth of every month. A great deal of us have been utilising the old Taxpayer This is a post on the best way to utilize iTax. Month to month Z report from your ETR machine – for yield VAT/deals Cost sheet for the month (with VATABLE things) – for information VAT/buys Where any TAX stays unpaid after the date on which it ends up plainly payable, an Interest equivalent to two percent for every month or part thereof of the unpaid sum might forward with is expected and payable. Procedure Step 1: Download the VAT excel sheet from iTax .The VAT excel sheet that you have to download is found under the "Returns" menu. You need to assume that you are doing a genuine return ...
Post a Comment
Read more