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WHAT IS YOUR VIEW ABOUT MONEY

 As a Financial Literacy Trainer I have had the chance to listen to various views about money from various respondents. I have also had a chance to read several books related to the science of money. About two years ago there was a story of a suspected witch doctor who sacrificed two young children in Kiboga District due to the desire for wealth. A few years back there was a news article where a group of youths wanted to beat up staff of a sports betting company for failing to pay their return on investment in Bugiri District. To these youths betting was the quickest route to wealth creation. When one reads Think And Grow Rich: A Black Choice, Dr Dennis Kimbro gave examples of various black Americans who started from scratch and built financial empires. These include Oprah Winfrey who was born in a poor family but had a vision of becoming a wealthy person. Today Oprah is a household name and is one of the wealthiest women in the world. The point is that in a nation where over 70% o...
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WE SHOULD WATCH OUR HABITS IN OUR FINANCIAL JOURNEY

 In his book Atomic Habits, James Clear notes that success is a product of our daily habits. Many times we tend to view success from only the top. However all leading authorities note that success can not be achieved overnight. This relates to all facets of life. We are living in a generation that is skewed to seeing success from only the top. This has given rise to get rich schemes. I have heard of several stories of university students who gamble tuition.  A number of get rich schemes have conned the public of their hard earned money. This is because they wanted to make quick money yet the natural laws favor long term investment. Warren Buffet is one of the world's wealthiest men and he started learning about stocks at a young age. Today he is one of the wealthiest men . Oprah Winfrey was born in a poor family but had a firm belief that one day she would become wealthy. Today she is one of the wealthiest women in the world. Professor Mohammed Yunus started Grameen Bank as ...
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THE HUMBLE BEGINIING OF BAKAIMA REAL ESTATE AGENTS: EVERYONE CAN MAKE IT

 I was humbled when I read the inspiring story of how Bakaima Property Agents began. The founder Mr.Karim Kawesa was born in a poor family and had never come to Kampala. But when he came to Kampala to get school fees from his relatives he was fascinated by the buildings he saw and since then he nurtured his dream. Today we see the impact of Bakaima Property Agents which has revolutionized the real estate industry in Uganda. As a believer that each person can achieve their dream regardless of their past, this message comes at the right time to inspire me and the rest of society. For as long as one is alive and has the right mindset, he or she can achieve their dreams. The biggest challenge is lack of belief. This is worsened when one associates with other people with limited belief. As a certified coach Iam a firm believer in the potential of people. Unfortunately many focus on their circumstances to define their destiny. They do not know that their God given potential is much more ...
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ECONOMIC RESILIENCE IS KEY IN HARD ECONOMIC TIMES

 Of late in the News papers there have been discussions of the aid freezes to Africa. It got me thinking that in my personal life am I ready for economic shocks? What can happen in case I have an emergency ? Am I ready for such a time. Do I have an emergency fund to cater for unexpected uncertainties? These are pertinent questions. This is because we live in volatile, uncertain ,complex and Ambiguous(VUCA)  times that require utmost attention and reflection. As life is when the going is good we tend to relax and forget to put contingencies. With such aid freezes perhaps it is an opportunity for us to reflect our financial lives. During Covid 19 period and lock down there are two young gentlemen who killed themselves. This was because they could not cope with life's pressures. The cases of domestic violence and mental health increased .This shows the importance of money in our lives. Without adequate finances managing life becomes a tall order for the majority in society. Dur...
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DOES OUR BACKGROUND MATTER IN OUR FINANCIAL ADVANCEMENT JOURNEY?

 There are so many reasons that have been given for the lack of advancement in our financial lives. True many are valid because life is tough. But then there are people who have been in more extreme financial hardships and have made it. In Think And Grow Rich: A Black Choice, Dr. Dennis Kimbro points out several black Americans who were born in poor families but ended up wealthy. These include Oprah Winfrey, Dr. Washington Carver and Dr. Ben Carson . I believe that attitude towards life plays a critical role in determining our fate . We all have the potential to achieve our long term goals but the lack of inner belief always restrains our initiative. Many have attributed their lack of progress to past factors such as being born  in poor environments.  A close look at some of the most successful entrepreneurs makes us understand that circumstances should never stop us from dreaming big. At the age of 60 Colonel Sanders started KFC with a recipe that was rejected by many i...
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WHERE DO YOU BORROW FROM?

 One of the least discussed topics is debt management. In a nation where resources are scarce it is inevitable to borrow to make ends meet. In fact some people borrow from more than one source. The key question that I want to pose is where do Ugandans borrow from? I may not have the answer but as a Financial Literacy Trainer it is my duty to prepare the community to practice responsibility when borrowing. Good borrowing practices are fundamental to a healthy economy. Last year we witnessed 2 financial institutions that were closed and this is at times caused by the bad borrowing practices. Since debt is a major part of our lives it is important for a customer to take the necessary steps in choosing the right company to extend credit to them. I have witnessed a number of trainees in agony because they went to certain loan sharks who lent to them and when they failed to pay they take their valuable property. We are living in a society that desires instant loans but then the question ...
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HOW CONSISTENT ARE WE IN OUR SAVINGS JOURNEY?

 Everybody desires to have a better financial future. The question is how consistent are we in our savings journey? There was a group of women who were able to save 17 million Ugandan shillings and by December they distributed the money amongst themselves and spent it during the festive season. By January they were back to zero. Without a clear purpose for saving we are unlikely to hit our savings targets. We live in a society that is full of distractions and if we are not careful we can easily be side tracked. As a financial literacy trainer I have interacted with so many trainees who struggle with savings and I should say that saving is not easy in an economy where the cost of living is high and money is scarce.  Despite the economic hardships we need to find ways of surviving and reaching our savings milestones. When one reads about the most successful entrepreneurs their stories are not any different from us. They are consistent in their savings culture. They focus on the ...
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