Allegedly, New SHIF Deductions to Significantly Reduce Workers’ Take-Home Pay

In a recent tweet by Moe (@moneyacademyKE) on October 1, 2024, it was claimed that thousands of workers will experience a drastic drop in their take-home pay due to the introduction of new SHIF deductions. These deductions are said to break the one-third salary rule, leaving many employees with significantly reduced earnings.

According to the tweet, the example deductions after accounting for PAYE, Housing Levy, SHIF, and NSSF could result in a substantial decrease in net pay. For instance, a salary of Sh50,000 could lead to a net pay of only Sh39,273 after all deductions have been made.

While there is no concrete proof provided in the tweet, the implications of such a significant reduction in take-home pay could have a profound impact on workers across various industries. The tweet suggests that these new SHIF deductions could potentially push many workers below the one-third salary rule, which is often used as a benchmark for financial stability and budgeting.

It is important for workers to be aware of any changes in their pay structure and to understand how these deductions may impact their overall financial well-being. Employers may also need to communicate these changes effectively to their employees and provide support where necessary to help navigate any financial challenges that may arise.

As this story continues to develop, it will be crucial for both employees and employers to stay informed and proactively address any concerns or questions regarding the new SHIF deductions and their potential impact on take-home pay.

Source: Moe (@moneyacademyKE) on Twitter

Tough times as thousands of workers’ take-home pay will drop heavily with the new SHIF deductions,breaking the one-third salary rule.

Example deductions after PAYE, Housing Levy, SHIF, and NSSF include:

For example, a salary of Sh50,000 will result in a net pay of Sh39,273…

— Moe (@moneyacademyKE) October 1, 2024

Title: The Impact of Social Media on Mental Health: Is Your Online Presence Affecting Your Well-being?

Introduction:

In today’s digital age, social media has become an integral part of our daily lives. We use platforms like Facebook, Instagram, Twitter, and Snapchat to connect with friends, share updates about our lives, and stay informed about current events. However, the constant use of social media can have a significant impact on our mental health. In this article, we will explore the ways in which social media can affect our well-being and provide tips on how to maintain a healthy balance between online and offline life.

How Does Social Media Affect Mental Health?

Social Comparison and Self-esteem:

One of the most significant ways in which social media can impact mental health is through social comparison. When we scroll through our feeds and see carefully curated posts from our friends and influencers, it’s easy to fall into the trap of comparing ourselves to others. This constant comparison can lead to feelings of inadequacy, low self-esteem, and even depression. According to a study published in the Journal of Social and Clinical Psychology, spending too much time on social media can increase feelings of loneliness and social isolation.

(Source: Journal of Social and Clinical Psychology)

Fear of Missing Out (FOMO):

Another way in which social media can impact mental health is through the fear of missing out, commonly known as FOMO. Seeing our friends’ posts about exciting events, parties, and vacations can make us feel like we’re missing out on the fun. This fear of missing out can lead to anxiety, stress, and a constant need to stay connected to social media to avoid feeling left out.

(Source: Journal of Broadcasting & Electronic Media)

Cyberbullying:

Unfortunately, social media can also be a breeding ground for cyberbullying. With the anonymity that the internet provides, people may feel emboldened to make hurtful comments or spread rumors about others. Cyberbullying can have serious consequences for mental health, leading to feelings of shame, embarrassment, and even thoughts of self-harm. It’s essential to be aware of the signs of cyberbullying and seek help if you or someone you know is being targeted online.

(Source: StopBullying.gov)

Tips for Maintaining a Healthy Relationship with Social Media:

Limit Your Screen Time:

One of the most effective ways to protect your mental health is to limit your screen time on social media. Set boundaries for how often you check your accounts and try to engage in offline activities that bring you joy and fulfillment. Taking breaks from social media can help you gain perspective and reduce feelings of comparison and FOMO.

(Source: National Library of Medicine)

Curate Your Feed:

Another tip for maintaining a healthy relationship with social media is to curate your feed to include positive and uplifting content. Unfollow accounts that make you feel bad about yourself or trigger negative emotions. Instead, follow accounts that inspire you, make you laugh, and promote mental well-being. Remember, you are in control of what you see on social media.

(Source: Psychology Today)

Practice Mindfulness:

Mindfulness is a powerful tool for managing stress and anxiety related to social media. Take time each day to unplug from your devices and focus on the present moment. Practice deep breathing, meditation, or yoga to center yourself and cultivate a sense of inner peace. By being mindful of your thoughts and emotions, you can better navigate the digital world without sacrificing your mental health.

(Source: National Center for Biotechnology Information)

Conclusion:

In conclusion, social media can have a significant impact on our mental health, both positive and negative. By being aware of the ways in which social media can affect us, we can take steps to protect our well-being and maintain a healthy balance between our online and offline lives. Remember to limit your screen time, curate your feed, and practice mindfulness to stay connected while prioritizing your mental health. Your well-being is essential, so make sure to prioritize self-care and seek help if you’re struggling with the negative effects of social media.