FINANCIAL LITERACY & PERSONAL DEVELOPMENT

 A few weeks back over 9000 students graduated from Makerere University. There was a lot of jubilation from the graduates and their parents. This is justifiable because spending over 18 years in school is not a mean achievement. We congratulate all the graduates upon this milestone. As the celebration is over , the key question is where are the graduates heading after university? For a long time our education system has prepared us to be job seekers and it is a good thing because without a job to earn an income life becomes hard.   The essence of this article is to focus on those masses who have lost hope in life because they lack a formal job. Today the rate of job creation is far below the number of students who are graduating every year. There are over 30 universities in Uganda and all of them are producing graduates with the same qualifications. Today we have graduates who are wondering why they completed university. I want to assure the graduate that  it is wort...

 Why is it that some families have produced wealthy families for years and others struggle in their finances for generations? What is it that we can learn from these titans so that we also achieve financial freedom. Is financial freedom an instant result or it is a long term endeavor? Why is it that certain times when a founder of a leading business passes on the siblings fail to handle the estate? Why is it that in the real world the entrepreneurs who build big businesses have never stepped into university? When the leader of the Aga khan Foundation passed on, there were no stories of public disputes about succession. The Aga khan Foundation has several businesses that employ thousands of people and contribute to national development. It is the desire of every parent that when their children grow up they will succeed in every dimension of life. However we have seen countless cases of children who until university struggle to manage their finances. We have seen young working profes...

 It is said it is in the moment of decisions that our destinies are decided. An individual from a poor family decides to complete their studies for a better future and another individual from a wealthy family decides to gamble their school fees. When we learn about the consequences of our choices we are likely to achieve fundamental shifts in our lives. Oprah Winfrey was born in a poor family but this did not deter her from dreaming big. Today she is one of the wealthiest women on earth. I have met a number of young professionals who make financial mistakes and they blame it on the external environment. When we  misuse our finances we should not place the blame  on family and other external influences. Ultimately our financial destiny is in our hands. I have seen farmers who earn less than the normal working professionals save in more than one savings group. This is because they have put the destiny of their financial lives in their hands. At university there is a tendenc...

 It is the  desire of every working professional to multiply their income. Where as this is a noble aspiration so many times our actions sometimes are contrary to our desires. When we have jobs sometimes we take them for granted. It is a privilege to have a job no matter how small. It is the attitude that counts most.  A few weeks back over 9,000 students graduated from Makerere University. The question is who will employ the majority of these young leaders? This state of affairs should awaken those who have jobs not to take them for granted. We cannot achieve financial freedom when we lack a source of income. This means that having a job in today's highly competitive business environment is a real privilege. Attitude plays a critical role in our relationship with money. A negative attitude will hamper our efforts in giving our best at work yet in the human potential industry every working professional has enormous potential to achieve both personal and organizational goa...

 Age has always been used as a barrier for not getting started. So many graduates are asserting that they are waiting for the ideal time to start their businesses. The adults in their advanced age are also explaining that they have no time to start a business or something significant in their lives. This is a paradox. Who is right or wrong? Unfortunately we are growing every day and there is no status quo. The earlier we realize that age should never be a barrier to transformation the better.  In his 60's when Colonel Sanders contemplated suicide is when he realized that he had a recipe that would later turn into KFC which is now a global organization. Imagine what the world would be missing had he regarded age as a barrier to his creativity. Today KFC is employing millions of people and contributing to national development. When it comes to the young generation age should never be given as a barrier for enterprise development. Facebook started as a university project and now ...

 In my journey as a financial literacy trainer I have had a privilege of interacting with countless individuals and we have discussed about financial matters. This has given me an opportunity to learn the importance of preparation when it comes to acquiring a loan. In financial matters every person is wise with their experience but then there is always a better way in every dimension of life. When it comes to borrowing I have realized that clients place more emphasis on the physical cash than the process of acquiring a loan. Just like adequate attention is given to planning when putting up a storied structure in the same way when acquiring a loan it is important the clients are well prepared. One of a glaringly signals of a poor loan appraisal is when a client is not adequately trained about the interest rate and other terms and conditions. Since a loan is meant to help a client to progress it is prudent that any financial institution takes time to train the client about the cost o...