My name is Richard. I earn about Sh60,000 after all statutory deductions. I spend as follows: rent Sh13,500, power and water Sh1,500, transport Sh6,000, shopping and groceries Sh15,000, daycare Sh5,000, and Sh10,000 to support my mother and siblings. My wife is currently a student at the KMTC main campus in Nairobi, pursuing nursing. She is not working and is in her second year.
I am part of a table banking group, contributing Sh4,000 monthly. In September, I borrowed Sh90,000 from this group to pay for my wife's fees. The loan repayment is due at the end of this month, but I don't have the money. I am considering taking a loan from a shylock to clear this debt, then re-borrowing immediately to repay the shylock loan within a month.
