In his weekly podcast on business tips #AskKirubi Thursdays the entrepreneur gave tips on how to generate capital to start business by developing a saving culture. Mr Kirubi or chairman as he is popularly known says most young people live beyond their means as the first things they want to buy when they get money is purchase is a blackberry or an ipad,
Entertaining women is also an issue the business magnate raised saying that the choice of girlfriends also determines whether you make it or not. He says there are men who have pricey girlfriends who want to be wined and dined at expensive establishments and to get showered with gifts in form of watches, cars and clothes.
Funding the lifestyles of such women makes you spend more, he says one has to choose between becoming a spender or a generator of wealth. He appeals to those who are born into wealth to see it as an opportunity to generate more wealth.
According to him, luxuries should be part of what you spend from the savings that you do not intend to use. As far as lending money is concerned, he urges his viewers to give it instead of lending it as you tend ti lose that money often. People are likely to disappear when you lend them money, he says.
Chris Kirubi urges his viewers "Dont buy a car you cannot afford to fuel, buy one that gives you economic mileage" he says adding that one should save and own a home as you are not worth their salt as long as you live at your parents house.
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Video source CapitalFM
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