Alhuda Njoroge, founder of Kenyan brand Huddah Cosmetics, has spoken on a lesson she learned after purchasing a villa in Nairobi from a woman she describes as wealthy.
What the rich woman who sold me my villa & moved to a 2BR taught me - Huddah Monroe
Money is a B, it loves moving around - Huddah
The entrepreneur, who is mostly known for her socialite persona Huddah Monroe, says that she found it revelatory to discover that the woman and her husband had subsequently moved to a two-bedroom condominium.
Considering her own motivations for choosing to buy the villa, Huddah cringed that she had only made the purchase to show off.
She concluded that the lessons she gleaned from the said couple helped her stay financially afloat even when pandemic-related economic constraints hit hard her close friends.
"And they are like 50+ [age]. Wealthy AF! Then I wondered why me at 25, single, I'm getting it but it was all for the gram first lol! Smh... Boomers really play us. They sell us the dream/illusion while they keep their $. Hence the rich stay rich and the poor stay poorer.
"I had to study those 2 people and the story leads to how I maintained my finances eventually all through Corvid," Huddah posted.
Huddah Monroe Speaks on Financial Savings
Speaking on her thoughts on saving culture, Huddah expressed that her major challenge had been balancing between the lifestyle she wants to live and her commitment to actually saving.
"Every time I try to cut my expenditure to save I end up spending even more! Times 3 of the initial," she regretted.
The businesswoman, however, let her followers know that she is yet to hack all the aspects of financial success noting that she is still learning.
"Money management is a lesson they don't teach in school or even in the streets. Go figure.
"Still learning money management though because I still buy designers. I've seen rich people go from rich back to rugs real quick and saving in the bank won't save you from that either. Money.... loves moving around, you lock it in too long it finds a place to go. You must spend it one way or the other," she opined.
Rina Hicks is a Corporate Finance Analyst and Director at Faida Investment Bank and the author of Money-Wise: Create, Grow & Preserve Wealth (2016) Integrity Publishers, U.S.A.
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