For most people, the default reaction to financial struggles is to imagine that a better job will solve everything. A bigger paycheck feels like the cure to all money problems. But history, data, and lived experience consistently show that higher income does not automatically translate into financial freedom. Without a strong relationship with money, even the biggest salary can vanish in poor habits and impulsive choices.
A study by the World Bank highlights that over 70% of people globally live paycheck to paycheck, regardless of income level. This shows that the issue is rarely about how much one earns, but about how money is managed once it arrives. In Kenya, for instance, formal employees in middle- and upper-income brackets often fall into debt cycles despite earning far above the minimum wage. Their struggle is not low pay—it’s financial indiscipline.
A better relationship with money starts with understanding where every shilling goes. Budgeting may sound boring, but it is the first step toward control. Too many households spend reactively, allowing lifestyle pressures, consumer marketing, and peer influence to dictate how money is used. This lack of awareness creates blind spots that no salary increase can fill.
Financial literacy, therefore, becomes a more powerful tool than a job promotion. It equips people with the knowledge to treat money as a servant rather than a master. Someone earning KSh 40,000 with discipline, a budget, and savings goals can often be in a healthier financial state than someone earning KSh 120,000 but overspending and carrying debt.
The problem deepens with the cultural obsession with appearances. Many young professionals prioritize looking successful over building true wealth. Designer clothes, expensive gadgets, or financed cars create the illusion of prosperity, but underneath lies an empty bank account. The result is stress, borrowing, and a never-ending cycle of financial frustration.
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Debt culture has normalized itself to the point where it feels fashionable. Using credit cards, mobile loans, or salary advances for lifestyle consumption has become common, yet each decision only mortgages tomorrow for the sake of today. Without a mindset shift, a better job only means a bigger line of credit—not a more stable life.
Building a healthier relationship with money also means redefining what success looks like. Real wealth is silent; it shows up in financial security, investments, and assets that grow with time. It is not measured by how flashy one looks at a wedding or how often one posts vacations online. Shifting focus from consumption to growth is the cornerstone of financial maturity.
Psychologists argue that money problems are rarely about numbers—they are about behavior. Emotional spending, fear of missing out, and the inability to delay gratification are key factors that erode wealth. Unless addressed, these patterns will follow a person regardless of how many promotions they receive.
The global statistics on lottery winners drive this point home. Over 70% of big lottery winners lose their entire fortune within five years. Their jobs did not matter. Their incomes did not matter. What mattered was their inability to build a solid relationship with money before the windfall came.
Closer home, Kenya’s own SACCO movement provides a contrast. Ordinary workers who pool resources and save collectively often achieve what individual higher earners fail to do: they buy land, invest in real estate, and fund businesses. This proves again that income is secondary; financial culture and discipline are the true wealth drivers.
Another dimension to this conversation is retirement planning. Studies show that less than 20% of Kenyans have a retirement plan. Even those with pension schemes often withdraw their savings early for consumption. This is not about low wages—it is about short-term thinking. A better job cannot fix a poor long-term mindset.
Entrepreneurs, too, face similar traps. Many business owners reinvest all their earnings without separating personal and business finances. Others consume profits in flashy lifestyles instead of strengthening cash flow and reserves. When challenges arise, these businesses collapse, not because they weren’t profitable, but because their owners mismanaged money.
To fix this, individuals and entrepreneurs alike must adopt systems of accountability. Spreadsheets, budgeting apps, or financial advisors may feel intimidating, but they create structure. A structured relationship with money reduces the risk of emotional decisions and ensures that every shilling has a purpose.
Saving is another non-negotiable element of money management. But saving alone is not enough—those savings must be channeled into investments that generate returns. From government bonds to unit trusts, to agribusiness ventures, opportunities exist for all income levels. Yet too many people ignore them while waiting for a “better job.”
The idea of financial freedom must also evolve. Freedom is not just about having money—it is about having choices. The ability to walk away from a toxic workplace, invest in a new idea, or support family without stress is far more powerful than any salary bracket. Such freedom is only possible when money is respected, planned, and grown wisely.
Education is key. Schools often skip teaching personal finance, leaving young adults to learn through costly mistakes. This gap makes financial education—through books, mentorship, and platforms like Soko Directory—essential. With the right knowledge, people can transform even modest incomes into stepping stones toward wealth.
Governments and employers also have a role to play. Delayed salaries, inconsistent cash flows, and exploitative taxes can weaken financial discipline. But even within these challenges, individuals must prioritize what is within their control: budgeting, saving, investing, and resisting debt traps. Leadership matters, but personal discipline remains the foundation.
The digital economy has amplified both risks and opportunities. While mobile loans and betting apps have trapped millions, digital investment platforms and mobile savings tools offer scalable ways to grow wealth. The difference lies in choice. Technology does not replace discipline—it amplifies it.
Ultimately, money is not just about numbers—it is about mindset. A job can feed you, but only financial discipline can free you. A better paycheck may temporarily ease stress, but only a better relationship with money builds lasting peace. The true path to wealth lies not in chasing promotions but in mastering self-control.
If Kenyans, especially the youth, embrace this mindset, the narrative of perpetual financial struggle can shift. The focus must move away from waiting for bigger jobs toward cultivating smarter money habits. For in the end, wealth is not about what you earn—it is about what you keep, grow, and protect.
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