3 Key Ways Kenyans Aged 18-35 Are Coping With Hard Economic Times- Infotrak

A majority of Kenyans aged between 18 and 35 are deciding to take up extra jobs alias side hustles and seeking more sources of income as a response to coping with the hard economic times in the country.

This was captured in findings resulting from a survey done by Infotrak titled January Voice of the People released on Monday, January 22 which showcased three key methods the Kenyan youth are relying on to navigate the tough economic environment in President William Ruto's regime.

Among those leading in seeking additional jobs are Kenyans aged between 18 and 26 years at 52 per cent, followed by their counterparts aged between 27 and 35 years at 47 per cent.

Additionally, those aged between 27 and 35 years were cutting down on non-essential expenses with their younger counterparts in the 18-26 category deciding to take out loans.

5 per cent of Kenyans in the 18-26 category resorted to using credit cards to cope with the tough economic times. 

A credit card is a payment card, usually issued by a bank, allowing its users to purchase goods or services or withdraw cash on credit. Using the card thus accrues debt that has to be repaid later.

In terms of gender, more men than women were resorting to seeking additional employment or sources of income, that is 47 per cent for men against 42 per cent for women.

The same case went for cutting back on non-essential expenses (44 per cent men, 38 per cent women), however, women led in terms of taking out loans at 21 per cent compared to men at 15 per cent.

More women than men were also reported by Infotrak to be utilising community resources such as food banks and shelters as well as borrowing money from friends and family and using credit cards.

Overall, 45 per cent of Kenyans were resorting to side hustles compared to 41 per cent cutting non-essential expenditures to navigate the high cost of living.

"Getting a side hustle (45%) and reducing non-essential expenditure (41%) are the main coping strategies adopted by Kenyans to cope with the economic hardships," the report read in part.