I am married and earn Sh56,000 net. My expenses are: Sh13,500 food and groceries, Sh2,000 airtime, Sh4,800 transport, Sh3,000 Sacco shares, Sh4,000 wife’s allowance, Sh5,000 rent for my small sister who is in college, Sh15,000 rent for my house. We have a two-year-old and my wife – who is unemployed – has been taking care of him.
I am thinking of taking a loan of Sh1 million from micro-credit lenders to buy a small car that my wife can use to work as an Uber driver or start a small business for her. If my spouse starts working, I might have to hire a nanny and that will cost an extra Sh7,000 to Sh10,000 on my payslip, which might leave me with nothing. What should I do?
