Mtoto wa Mungu

DONT BUY A CAR if You Earn less than 2M Uganda Shillings and here’s why: For Starters, Pardon my Unsolicited advice. 🥰🥰 I’ve so far owned about 5 different cars and this is going to be my 7th year since I started driving. Therefore the things I’m about to share are out of my personal experience. Driving or owning a car is no longer a luxury like in the past. It’s a necessity. You need the car for various reasons including convenience, comfort, movements, class among others. But owning a car can also come at a cost that many low income earners don’t even realise until they’re in the middle of the mess already. A person earning 2M or less as your Monthly income including all side incomes shouldn’t consider buying a car and here’s why: Firstly, this person might not be able to buy a bond car unless they got a salary loan. But incase they don’t, then they will get a second/used car because that’s all their savings can afford. Let’s assume they buy a car at 14M. This is the cheapest car in a somewhat good condition. A person earning 2M will most certainly be staying in places like Najjera, Kiwatule or Mutungo where rent is around 400-500K double room. We are assuming they’re single. On the 2M, 500k goes to rent so we have a balance of 1.5M. We shall also assume the car CC is around/Between 1.3-1.5CC. This means he or she will be spending atleast 30000 daily on fuel to and from work (This is so because 30K at the current fuel price can get you about 5 litres. Remember the cost of fuel is currently at 5500/- (highest), meaning he gets less fuel compared to back then when fuel price was at 3500/-. This brings monthly expenses to about 900k leaving a balance of 600K from the 1.5M we started with. Let’s just have a ka 50k for repairs like brakes, tires, or anything that could arise. We now have 550K Washing the car is something that people don’t budget for but it also takes a certain percentage. Because they work in a corporate world, their car needs to be clean all the time. So they wash the car atleast twice per week depending on the environment. Each wash is 10k monthly amounting to 80K We have a 470K left. Feeding: we assume this person eats 15K in a day which is ideally not applicable in our today’s economy but regardless let’s assume. This cost in 30 days will be 450K. You are literally left with nothing to save. Month in month out. We are assuming this person does not take alcohol, does not attend friend’s birthdays, weddings or any events that require extra fuel or contribution. Remember in case of an accident you will have to foot the bills. Cars are very unpredictable. You wake up with a car very well and upon reaching town the car tire is out of shape and needs a replacement 😂😂😂😂 It’s technically impossible for someone who earns less than 2M to drive a car because you won’t have anything left to save and that’s a bad thing because of eventualities, you’re left with no option other than selling the same car. So people who drive with a salary of 2M, please share with us, how do you do it? 😳😳😳😳 I am at @SunguraHouse having my lunch incase you want to fight. I hope we make calculated moves. have a great weekend ahead my folks