It is a dangerous trend that has experts worried, with the next generation showing apathy towards saving and investing for the future, although some feel it is not by choice. “Do they have the income to save or invest in the first place?” poses Johnson Nderi, an expert in matters finance. The average Kenyan pay in the formal sector is between Sh20,000 and Sh29,999, which when compared with the increasing cost of living expenses leaves little or nothing for saving or investing. “Those two numbers (unemployment rate and median income) will explain (why they are not saving or investing),” says Nderi. She says in the past when the family was a strong unit, people valued resources, and there was a lot of guidance on how investing or saving can be done.

Source: Standard Digital July 16, 2021 21:00 UTC