TSC Payslip for newly recruited graduate teachers

Payslip for newly recruited graduate teacher using Imarisha sacco as paypoint after 3 years

Basic salary-35000
Commuter allowance 5000
House allowance 7500
Gross salary Ksh 47500

Deductions
PAYE 10000
NHIF 1000
Kuppet 700
Union bbf 200
Kewota 200
Provident fund 3000
Total statutory deductions 15100

Helb loans deductions ksh 5000

Further total deductions 20100

Voluntary Imarisha deductions

You may wants to safe for sacco shares 2000
Sacco deductions for welfare 400

Sub total deductions

Ksh 22500

Borrowed Imarisha take away loans ksh 900000
Ksh 300000 from these are deducted as shares
5% ksh 50000 as FOSA shares and further approximately 20K processing fee
The teacher remains with almost ksh 500K from 900K
Monthly loans deductions 19000

Total grand deductions
Ksh 41500

Net pay 7500

The net pay after one year one borrow further inua,daraja and long term advance,the actual net pay will be less than 1000

Most teachers will be surprised to see that being Bom teacher was better when the vicious cycle rat race of advances and top up of millions but what you remains with are less than 100K became the norm.
Most teachers using Imarisha sacco doesn’t know what white smoke is majority knows white paper of advances,the end month is a torture to many.

Apart from above the teacher has other obligations

Rent 3000
School fees differs in most instances teacher child schooled in academies where fees ranges between 50k to over 100k per child per year.
Meals in at least 3 homes,work place, actual home and parents home.
Paying back to the society is there where the teacher is a lead person.
Dowry payments.

My advice to young teachers is that if you didn’t invest well in the first 10 years your working life will be rat race throughout,
The real loan money are the first loan think twice for best investment in the first loan the subsequent loans will be mainly top up where you will be signing millions as loans but what will hit or deposited your account may be less than 200k.
Avoid toxic loans from *premiums, platinum amongst others like plague.*

After a year is when you will appreciate the hardworking of your parents and other seniors on how they managed their finances .

Imarisha sacco products will enticed the majority especially the high interests Daraja,ideal loans , premium loans amongst others apart from normal loan which has interests rate of 12 % the rest products have interests rates beyond those of commercial banks.
May God bless and provide for the teacher.

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