What is your strategy for surviving the looming economic downturn?

[CurrentThing]

As some have already mentioned here, there is a general fear of an upcoming global recession. The US dollar is undergoing inflation, the Kenyan shilling is also inflating relative to the US dollar.

Additionally, were going into an electioneering period with investors holding back due to unpredictability of the outcome and the reaction.

Any ideas on how to weather this storm? An option for many would be to convert their savings to USD, but the govt is already facing a shortage and has limited USD withdrawals.

So are you going real estate, stocks, investing in business, mattress bank or crossing fingers and hoping for the best etc?

 

[Afro]

It would make more sense to stick to what you are already good at instead of gambling with the unknown.

Not that i have a solid plan but i am having to really monitor expenses at the House. Hadi mtu akitoka one room to another aache kama hajazima stima naenda kuzima.

 

[Aviator]

Ensure you have sufficient liquidity. Even if it means selling some assets. That way, you are guaranteed of food.

 

[mzeiya]

So are you going real estate

Learnt my lesson at the onset of the pandemic and did just that.

Also, moved liquid savings into a Money Market Fund - CIC to be exact in order to counter inflation and nowadays prefer purchasing household goods in bulk e.g. 20 litre cooking oil retails at 5,350/- at a wholesaler while at the supermarket, it'd be about 1K more.

 

[bigDog]

Learnt my lesson at the onset of the pandemic and did just that.

Also, moved liquid savings into a Money Market Fund - CIC to be exact in order to counter inflation and nowadays prefer purchasing household goods in bulk e.g. 20 litre cooking oil retails at 5,350/- at a wholesaler while at the supermarket, it'd be about 1K more.

What's their % returns? Is there a website that has a comparison of all these funds and their risk profiles?

 

[Aviator]

Learnt my lesson at the onset of the pandemic and did just that.

Also, moved liquid savings into a Money Market Fund - CIC to be exact in order to counter inflation and nowadays prefer purchasing household goods in bulk e.g. 20 litre cooking oil retails at 5,350/- at a wholesaler while at the supermarket, it'd be about 1K more.

Kwani kadynasty unatumia olive oil?
Kwetu 20lts ni 4100

 

[Anglututu]

Best advise I can give is to try and reduce consumerism habits . We are at a time where so many events and variables are happening one after the other .
If you’re living in the satellite towns , farm your own veggies , maybe keep a few hens for eggs . Just do what you can.
City people wherever possible can also hack this with help of modern ways and tech.
What we need to beat is consumerism, go back to how our folk used to live to some extent .

 

[Denis Young]

Personally, I derisked long time ago. I hold plenty of stables in crypto yielding a healthy double figure APR. I have a couple of assets that I could easily liquidate if shite hit the fan. I also earn in USD from my daily job. Finally, being single is a massive plus.

I can't imagine the cost of groceries, tissue, stima (especially for those with females in the household) all on top of rent. Halafu uchague Azimio. Kwani haujipendi?? Are you in such a rush to die??

 

[Anglututu]

Personally, I derisked long time ago. I hold plenty of stables in crypto yielding a healthy double figure APR. I have a couple of assets that I could easily liquidate if shite hit the fan. I also earn in USD from my daily job. Finally, being single is a massive plus.

I can't imagine the cost of groceries, tissue, stima (especially for those with females in the household) all on top of rent. Halafu uchague Azimio. Kwani haujipendi?? Are you in such a rush to die??

Crypto ! That thing took a hit , how ?

 

[mzeiya]

What's their % returns? Is there a website that has a comparison of all these funds and their risk profiles?

Nisha wahi kujibu before

Took most of it out which was a less than 24hrs process to purchase the house I'm in now but nitaangalia statement nione kama kuna deviation.

 

[Denis Young]

Crypto ! That thing took a hit , how ?

Key word, Stables!

 

[CurrentThing]

Nisha wahi kujibu before
View attachment 62671
Took most of it out which was a less than 24hrs process to purchase the house I'm in now but nitaangalia statement nione kama kuna deviation.

Some of the high performing ones project around 9% p.a

 

[CurrentThing]

Key word, Stables!

Also perhaps non-algorithmic ones, after what happened to UST.

Generally though the crypto ecosystem is not ready for those who have a low risk appetite.

 

[CurrentThing]

farm your own veggies , maybe keep a few hens for eggs .

Excellent option for those who are able to. Sometimes I think we've built a complicated and fragile economy, going back to basics is the best hedge.

 

[Denis Young]

Also perhaps non-algorithmic ones, after what happened to UST.

Generally though the crypto ecosystem is not ready for those who have a low risk appetite.

I am actually in an algorithmic stable. Unlike USDT, it has deposit and withdrawal controls that ensure you cannot dump it all at once inducing hyperinflation in the underlying asset.