Battle: Dar es Salaam vs Nairobi

Battle: Dar es Salaam vs Nairobi

Teargas said:
You have a poor Mentality. I keep my money in Sacco for future use where they yield a yearly interest of 14%. I can also access loans which I can’t access in banks as the loan I can get in Sacco is multiplied by 4 of the deposit amount with a monthly loan interest of 1%.

As for MMF, I keep money for emergency where they yield interest as well. Let me ask you one thing, are you aware that if you keep your money in banks you will never even earn a 0.001% annual interest? Instead your money will keep on reducing because the bank has to charge you service fee?


Bright people keep their money in MMF, Saccos, Bonds, shares and Stocks.

View: https://x.com/WaruhiuFranklin/status/1832673031711273337


View: https://x.com/TheAbojani/status/1745748830123900994
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kumbe umekubali hauna vigezo vya kupata mkopo bank ? ungekuwa unakopesheka usingekuwa unahaja ya kulazimika kuweka pesa ili upate mkopo wa 4 time bali asset zako na transactions zako ndo zinaweza kukubeba na ukapata mkopo. kwahiyo we kubali wewe ni maskini ndo maana inabidi udundulize kwenye saccos ili walau uweze kopesheka
 
Buy Kenya build Kenya. All the Kenyan build buses are fitted with locally made windscreen and other window panes from Impala glass.

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Venus Star said:
Wala hakuna unayemuudhi ndiyo maana watu wanakujibu. But tayari sisi tumeshakuona wewe kuwa ni Jobless

Hivi hebu niambie. Mikono yako ipo na matatizo gani?
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haha eti anajisifia kabisa mimi siweki hela bank ila nawekeza saccos halafu anajiona kawini
 
concordile 101 said:
haha eti anajisifia kabisa mimi siweki hela bank ila nawekeza saccos halafu anajiona kawini
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How much interest does banks give on deposited money? We keep our money in saccos and MMF so that they can grow and multiply. Saa hii ukiweka 1,000,000 kwa bank and another 1,000,000 kwa sacco at the end of the year pesa yako ya bank will reduce to 999,000 while ya Sacco will increase to 1,100,000.


So tell me, which one is better?
 
Teargas said:
How much interest does banks give on deposited money? We keep our money in saccos and MMF so that they can grow. Saa hii nikiweka 1,000,000 kwa bank and another 1,000,000 kwa sacco at the end of the year pesa yako ya bank will reduce to 999,000 while ya Sacco will increase to 1,100,000.


So tell me, which one is better?
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na ndo maana nimekuambia huna hela, hela sio kuwa na cash mkononi bali kuwa na asset na mzunguko tu ambao utakufanya kuendelea kupata pesa. ila kwa sababu hujafanikiwa kuiliki walau 9mil ksh huwezi elewa. ila sishangai ndio maana serikali yenu inaenda kwa mfumo wa cash basis katiak kutambua matumizi na mapato
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Teargas said:
I can see the concept of money multiplication is not in Tanzania. No wonder they are all poor😂😂🤣.

Deposits za wakenya kwa Saccos is 10% of Tanzanian GDP😂😂🤣😂

View: https://x.com/BD_Africa/status/1835633010042978378
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saccos ni kwa watu wa kipato cha chini sio kwa mtu ambaye anamiliki biashar kubwa. mimi siwez weka letsay 2mil ili nisubirie kuja kopeshwa 6mil wakat sina mzunguko huo na hata ukiangalia majority ya hao watu madeni yanakuja wasumbua tu kulipa elimu ya pesa njoo tukufundishe. HUWEZ KUWA NA KIASI 3MIL ETI UKOPESHWE 9 MIL HALAFU UTOBOE UONGO MTUPU
 
concordile 101 said:
mimi siwez weka letsay 2mil ili nisubirie kuja kopeshwa 6mil wakat sina mzunguko huo
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Obviously you don’t understand how Saccos work😂😂🤣😂.

Chukua 2M uweke kwa Sacco alafu ungoje guaranteed 20k every month.
 
Teargas said:
That’s why keep money in Sacco and MMF. Take 30M na uweke kwa Sacco ama MMF alafu uamue kulala maishani mwako wote, you will still earn Ksh 300,000 every month without even blinking 😂😂🤣


View: https://x.com/TheAbojani/status/1835635739104620705
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letsay umedeposit 10 ukakopa 30mil na riba labda ya 5% kwa mwaka kwa miaka mitattu sawa 34.5 halafu nikanunua hizo ukaanza kulipwa 300,000 kwa mwezi huku deni la mkpo likikutaka ulipe letsay 800,000 kwa mwez hiyo 500,000 utaitolea matakoni au?
 
concordile 101 said:
letsay umedeposit 10 ukakopa 30mil na riba labda ya 5% kwa mwaka kwa miaka mitattu sawa 34.5 halafu nikanunua hizo ukaanza kulipwa 300,000 kwa mwezi huku deni la mkpo likikutaka ulipe letsay 800,000 kwa mwez hiyo 500,000 utaitolea matakoni au?
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Obviously you don’t understand anything about finance.

Let’s assume you have borrowed 30M from Sacco with a monthly repayment interest of 1% ( 30,000) for 10yrs= 120 months.

Monthly loan interest =30,000
Principle monthly repayment = 30,000,000/120= 250,000

Total monthly repayment = interest + monthly installments

30,000 + 250,000 =280,000
Take that 30,000,000 and take it to MMF of let’s say Cyton Money Market Fund with an annual return of 18%. This 18% translates to 1.5% monthly interest.

So the money you will be earning every month from MMF will be as follows:

30,000,000 x. 0.015= 450,000
The government will take 15%(67,500) from that 450,000 leaving you with 382,500.


Now let’s say you will be repaying the Sacco loan with the interest you are earning from MMF,

382,500(Net monthly interest from MMF)- 280,000(Sacco loan repayment)

382,500-280,000= 102,000

At the end of the month utabaki na 102,500 that you haven’t worked for.😂😂😂

Alafu interest za Saccos loans are usually on reducing balance, so you won’t pay 280,000 every month as the the loan interest will be reducing with the reducing principle balance. After 10yrs of earning consistent 102,000 every month, utakuwa umebaki na 30M and 382,000 monthly interest coming to your account.😍😍😍
 
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