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tv   Money Clinic  BBC News  August 4, 2018 2:30am-3:01am BST

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this is bbc news. the headlines: zimba bwe‘s newly re—elected president emmerson mnangagwa has called for peace and unity after being accused of winning a "fraudulent and illegitimate" election by the opposition mdc alliance. there have been some clashes with police. the mdc leader nelson chamisa says he'll challenge the result in court. the hollywood film producer harvey weinstein is trying to have criminal charges against him of rape dismissed. his legal team are arguing that prosecutors should have shared e—mail evidence with the grand jury that indicted him. mr weinstein denies all the charges. britain's prime minister, theresa may, has held informal talks with france's president macron at his summer retreat, to try to push her plan for leaving the european union. it's the latest in a series of british meetings with individual european leaders to try to secure a brexit agreement. it's little more than 50 years since donald campbell lost his life
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trying to break his own water speed record in the lake district. his jet powered vessel was travelling at more than 300mph, when it crashed on coniston water. well, bluebird k7, has since been salvaged and painstakingly restored, and is about to take to the water again. lorna gordon has more. the isle of bute in the firth of clyde has never had a visitor like this. bluebird. the jet—engined hydroplane that held seven world records, restored to its former glory in a journey that has taken 17 years. it's all original material, it has been re—repaired and assessed for strength. modern day rivets, all this kind of thing. just a painstaking and thorough rebuild. donald campbell died trying to break his own record as the fastest man on water, hurtling past at more than 300mph on coniston water in the lake district. his daughter, gina, carrying the teddy bear he had with him,
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has come to bute to see bluebird take to the water again. i'm tingling. i'm not sure how i'm going to feel to see the boat up close. i think the crux will come when i see someone else climb into the pilot seat. i have never seen anyone else in there other than my dad. this time around, bluebird will be travelling across this scottish loch at much lower speeds, the volunteers involved planning to toast success in an understated style. are you going to celebrate? nice cup of tea. do what the british do best. the project has been built on cups of tea. this, a long waited for chance to celebrate donald campbell's achievements, by seeing his record—breaking craft in action. again. now on bbc news it's time for money clinic.
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we're putting money and relationships under the spotlight. many find it hard to talk about money, even with those we are closest to. and that can turn into a big problem. money is about power and control. in this programme, couples will open up to an expert to try to get a better understanding of their finances. now i know there are people who depend on me. i have to work harder. their emotions... it would be so selfish of me not to take care of her. i wish every daughter would feel about way about their mother. ..and one another. it is time to open the doors to the bbc money clinic. kenya's capital, nairobi.
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home to around four million people, from the very rich to the very poor. in between is a growing middle class. people come here from all over to try to make it in the big city. but family ties remain strong. and that for some people creates an extra financial burden. seeing the couples in the bbc money clinic today is life coach and authorjenny karina. jenny is a specialist in helping people get the balance right between love and money. someone said that there is no romance without finance. and whether that is true or not, what i can say is that actually it is documented that over 75% of couples end up in divorce because of money conflicts. and so, it's not about intimacy, it is about how you manage your money together as a couple.
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would you say then that a lot of arguments about money are not about money, per se, but they are about other things? you hit the nail on the head. deep—seated attitudes that we have. deep—seated attitudes, upbringing, parents, exposure to money, environment that you are in, your experience of a time of loss or plenty, all that forms our mindsets and attitudes concerning money. so when we are having money arguments, it is not about the money, it is the emotion that is evoked in us in that discussion. first into the clinic are 29—year—old banker tom and 24—year—old cynthia. she is pregnant, has given up work, and their wedding plans are on hold. in kenya, weddings are costly affairs for the groom and his side of the family. in many cases, a formal meeting between both sets of parents has
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to be paid for. then there is the bride price — cows, goats, and cash can change hands. and of course, there is the wedding itself. it's this long list of expenses that is worrying financially cautious tom. i'm in a relationship with cynthia. she is humble, respectful, god—fearing. she is a homemaker. tom is responsible. i like him because of his responsibility. i tend to think long—term in terms of financial savings, money management, and planning. tom has told me, maybe if i have money, i will buy makeup, shoes. for me, it is not a priority, our wedding. it's a one—off affair. we'll have people come and go, and then they are gone just like that.
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so my idea was to delay it at least for up to two or three years. i'm not sure about that. that's why we must go here. going to the clinic will help us to understand better what we are getting into and expectations of financial matters. cynthia, hello and welcome to the bbc money clinic. hello. tom, hello. so you two are looking for some tips about sharing your financial future together. how are you feeling? i am excited. to be here and to learn. excellent. feeling great. and grab feeling great. great, 0k. well, jenny is ready for you, so please go in and enjoy. all right, thank you. because we are expecting our first baby, we agreed that cynthia can take a break until the baby comes. and then she can resume work.
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so as it is, i'm the bread winner. cynthia, how did you feel when he asked you to leave work and just wait until the baby is born? at first i did not agree with him. one thing i love about tom is he is responsible. at least he opened up about his income, the amount of money he earns. i'm glad you said you were a bit uncomfortable about that in the beginning. because what happens is money is about power and control, and when you are the one with the money, you have got the power. when you're the one without the money, you have no power, you have no control. i know that couples have a lot of money arguments and money conflicts, particularly when it's one person that is providing and the other one is simply spending. you make money, she spends it all.
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she has no financial prudence with the money that you give her. maybe she's a good spender. how are you planning to manage your finances together? before she resumes work, we can agree on an amount that i can be putting into an account and then she can be managing that until the end of the month. and so, tom, you now have the financial responsibility over your household. now i have to focus on the bigger goal. because now i know there are people who will depend on me. yes. i have to work additionally harder. yes. there are friends that i had to leave behind because now we do not share the same responsibilities or goals. and so in some sense it has brought a sense of responsibility
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and discipline to me. yes, great, that's good. but the reality of the matter now is that you now have a family. and so you need to think at a broader level, even beyond the wedding. because the wedding is a one—off event and the marriage is a lifetime. and so even as you think about the wedding, the dowry, and the celebration, maybe we could unpack that a bit so i canjust get a glimpse of what your dreams are concerning that. initially, i was not planning to have our wedding immediately. i had planned we just show respect to the parents, we do an introduction, we pay a dowry in a weekend, then we can do our wedding when we are both comfortable.
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i don't subscribe to the idea of fundraising for a wedding or collecting money from friends for a wedding. i want to fund my own wedding. but for her, she really wanted a wedding this year. some of the family members really wanted a wedding. and so the wedding, the introduction comes with the cost implications. of course, we have the dowry, which in our culture, you can do cattle or a money equivalent. so you can see if all this goes the same year, it's a huge cost, considering again i do not subscribe to taking loans. yes. so it means you really have to deny yourself everything. and allow me to ask cynthia, what you want concerning this relationship?
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i want this relationship to grow into a marriage. because we are still young, so we are experiencing many challenges. what are the challenges? of course, there are cost challenges. yes. insecurity? 0k. it's a bit weird because i have been earning my own money, so it's difficult at times now that i do not earn money. what i hear you say is i am pregnant, i am young, i am in this guy's house, we have no commitment, he can find another beautiful woman, they are born every day, so what is going to happen to me? and you have every right to feel insecure as long as he did not have this ring on yourfinger. and what happens about having a ring on yourfinger, it becomes legally binding. and once is legally binding, then you are lawfully his wife. so i see that is what you are looking for. yeah. it's clearjust how much cynthia wants that wedding, but tom still has concerns.
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what i hear you, tom, say is one, you are really excited about the responsibility of being a husband and father. however, there is anxiety about the cost of the process. and it is for that reason that you are asking cynthia to consider not having the wedding immediately. it's the white wedding. the white wedding? yes. but if you're like me or any other girl, you want to walk down the aisle and sing here comes the bride. is that a reality for you? yes, that is what i want. that is what you want. yeah. and so i see that you are very agreeable, wonderful young couple. how are you planning to build a kitty for project marriage? i have a side business, so i decided the money i get from that side business will go towards the wedding. 0k, wonderful.
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tom and cynthia, thank you so much for coming to bbc money clinic. do you feel you got some good ideas? yes, i feel happier and i think my mind has now been opened up on possibilities that come with a wedding. you said that you feel quite insecure in your situation. do you feel happier now? yes, i feel happier. and more secure. that is a great result. i am very pleased for you. might i be getting an invitation to the wedding? yeah, sure, when it comes. excellent. well, i will look forward to it. lovely. best of luck in the meantime and we wish you well for sure. thank you. 0k, well, so tom and cynthia have learned a lot about one another, had a really nice conversation and are feeling better, more confident about their future together. of course, it's worth remembering that everybody‘s situation is different, so options that may suit some people may not suit others.
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we are in nairobi. many here have to work severaljobs to get by. it's known as having a side hustle. we are finding that that pressure is putting a strain on people's personal relationships as well as their finances. in kenya, average live expectancy has been increasing rapidly. in a little over a decade, it has gone from 55 years to 67. but many people are not sufficiently prepared for old age, and children are having to support their parents for longer. 26—year—old faith and 29—year—old emanuel both work in business and have been married forjust over a year. after a big wedding, they are struggling to get on top of their finances. this is lorraine's.
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our parents, they are not employed. so every detail that they need is a call. you work hard. the challenge is to support our family back home just because from my mother, my dad... they have monthly expenses. they have to go to the hospital twice every month. my mother, she sacrificed so much, i cannot afford to say no to her. so that is why sometimes i will go ahead to make financial decisions without factoring in my husband. you should try the berries. we cannot make enough money. we are paying a loan. it is like having two responsibilities that
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you cannot afford. sometimes it has been difficult. will you check on the rice? sometimes you work so hard that you do not even understand where the money is going up because the demands are too high. you get the money and that has to go to my parents. we shop for a month, we cannot afford to shop every other day. we have to be very careful when we buy. is it necessary or is it not? the guidance i am looking for from the money clinic is a way to balance between supporting our parents and paying our bills. hello, emanuel, welcome to bbc money clinic. thank you. it's great to have you here. how are you feeling? a little bit tense. a little bit tense? nervous but expecting to learn. excellent, well i am sure you will learn.
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this is the intention. i knowjenny is ready for you, so you are free to go in there and enjoy. thank you. thank you so much. 0k, see you soon. when your parents are number one on the list of your financial priorities, i wonder what makes you feel obligated? my mum, she is in her 50s right now, and her income was small—scale farming which does not bring so much to the table. so growing up, to see her sacrifice everything for me, so it should be so selfish of me not to take it as a responsibility to take care of her. i wish every daughter would feel that way about their mother. i'm reminded of a young man
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that was very creative in the manner in which he supported his parents. and he said, you know, this every month giving money is a big burden, and so he chose to give a lump sum in terms of a project. and they milk the cow, they sell the milk and they were able to have money for their daily needs. what opportunities could you give your parents in terms of earning from their labour in their home? for me, you have said that and something just came to my head. my mum loves business. anything she puts her hands on, she will do it with all her heart. it is making so much sense that i should actually try and find something i can set up for her,
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something she can work on that would be a simple way of sustaining her life right now. i can already see the smile on your mum's face. yeah. she is very young. 50. oh, i'm 60! sorry. you say sorry! so i think give your mother the opportunity to thrive in her season. true. now that faith is feeling happier about her mum, canjenny work her magic on emanuel and an outstanding loan? is the loan for a house mortgage orfor a car? it is actually for business. once i got married because the business was far from nairobi, and faith was in nairobi, i had to make a choice.
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and we tried, and at some point, it became really difficult. emanuel, as you talk about this business, i just get the sense that it is a project that has failed. and is not redeemable. that is why i am getting from you. you have no energy even talking about this. i will challenge you with this question. is this business worth having? not really. so what is so difficult aboutjust cutting your losses and running? because this business continues to take your money, but you feel that it is going to be an evil thing to let go, because it will be a sign of failure. just like say my thoughts...
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a failure of a business is not a failure of emanuel. faith, can you just tell him that? he is the wisest man i know. he always has business ideas, and if this fails, he will wake up, he can rise up and build something else. great. thank you for helping me tell him to let it go. let it go, let it go, let it go. so, emanuel, faith, thank you much so for coming. well, gosh, how was that? amazing. there were some serious revelations there. emanuel, you had some very hard words about your business, but you said it was like hearing your own thoughts in your head? that is true.
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are you ready to let it go? and not feel like a failure? yes, i think that is the point. you've got certainly some serious thinking to do anyway about your business. and, faith, you came here to find out how to say no to your mum, such a difficult thing for you to do. butjenny has some other ideas? yeah, i mean, i'm going to do it the easiest way by giving her something she can do to have a sustainable income for herself, and that is why i needed. yeah, the look on your face, it was a light bulb moment. it was an eye—opener for me. i am so glad it came. excellent. pleased to hear it. thank you. so two very happy people have come to the bbc money clinic. of course, everybody‘s circumstances are different, and choices that may work for some may not work for others. the couples came in quite nervous
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and they left beaming. like a weight had been lifted off their shoulders. you could see it. all i did was provide them a nonjudgmental environment where they were able to share and find their own solutions, did you see that? they really did the work themselves. they did the work themselves, ijust asked the hard questions. that is what i am taking home, really, there is nothing too difficult to overcome. you just need to talk about it. what would be your one top tip? have a goal together with your significant other. if you are not aligned, you will always have challenges. be authentic and align your goals. when you do that, you will live right. when you do that, you will thrive. that is it from the bbc money clinic in nairobi. hello there.
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we had a bit of rain around on friday across parts of northern england, north wales, into the midlands as well, but for most places it was another warm and dry day. this is how weak ended the day in topsham in devon. heading towards the weekend we will see scenes a little bit like this, more spells of sunshine around and it is looking dry and warm wherever you are. just the chance of the odd shower across northern and western parts of scotland, but it should be a dry weekend elsewhere. heading through the day on saturday, we have high pressure building its way in from the west, a couple of weak weather fronts pushing further south across the uk, introducing slightly fresher conditions to northern and western parts. down towards the south—east
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of england, that this where we keep the heat and humidity through the day on saturday. most places dry, best of sunshine towards the south and east, particularly for northwest scotland we will have a bit more cloud, perhaps the odd shower. temperatures not quite as hot, the yellow colours on the map, but down towards southern england we will see those red colours returning. the heat building once again in the south—east, temperatures of 33 celsius on fridays at the 29 or 30 degrees by the time it gets to saturday, not quite as hot as recent days and slightly fresher further north. overnight into sunday and most of us are staying dry with light winds, pretty warm but not as quiet as humid as it has been recently. a few showers towards the north—west of scotland, dry elsewhere and temperatures falling between 12—16 degrees for most towns and cities as sunday morning. the second half of the weekend and it is high pressure once again that is going to be driving our weather, moving its way in from the west and holding on for the next few days. sunday looks like another dry day for most, northern scotland seeing a bit more cloud, bringing the prospect of a few more showers
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to the highlands of scotland too. sunny spells for scotland, northern ireland and northern england, on spells of sunshine for england and wales and it is towards the south—east that we see the highest temperatures. generally 18—29 degrees for most of us on sunday. into monday and we will start to see a bit more cloud, with a weak front into northern ireland and the west of scotland, one or two showers and perhaps in the far north of england. further south again, a dry day with lots of sunshine and light wind. we could see 31 celsius, a little bit more warmer over time it gets to monday and a touch fresher north. to the middle part of the week and those temperatures will get down a little bit, most places staying dry. a few showers in the west. bye bye. welcome to bbc news. i'm nkem ifejika. zimbabwe's president emmerson mnangagwa has called for peace and unity after being accused of winning a "fraudulent
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and illegitimate" election. opposition leader nelson chamisa has refused to accept the result and claims he can prove that the electoral process was rigged. our africa editor fergal keane reports from the capital harare. "open for business", the newly elected president's voice, as the the police order people back to work. this a day after the army pushed them home. who really runs this country? and what kind of zimbabwe is it becoming?
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