FINANCIAL LITERACY & PERSONAL DEVELOPMENT

 As  a Certified Transformational Coach I have observed and interacted with so many youths who tend to limit their potential due to self comparison. They focus on what others have achieved instead of learning from the process of success. In coaching we are trained that each person has an infinite potential and due to lack of awareness they are unable to draw it out. I have focused on going to schools to speak to students especially candidate classes and what I focus on working on is the mindset. I strongly believe that our biggest enemy to progress is the mindset because of the so many limiting beliefs that bombard us . Africa has a lot of potential and it is evident after all the researches that have been conducted. What is lacking is a focus on enhancing the power of human potential. When one reads Think And Grow Rich: A Black Choice by Dr. Dennis Kimbro , he or she is motivated to understand that there is no limit to what a person can achieve. Oprah Winfrey was born in a poor famil

 I met a youth who admired Christiano Ronaldo and he knew facts about him. This was noble because it is a good trait to recognize and appreciate successful people. The question I posed to him was whether he knew his strengths and how they could add value to the world. He could not give definite answers. It happens a lot especially in Africa where many people (not all) are very quick to spotlight other peoples' achievements and quickly diminish their individual value. This is not to promote bragging but to instill a sense of personal worth and value into ourselves. Encouragement is a trait needed by every living human. That is why we have seen suicides because may be some people were not encouraged beyond their present circumstances. Each and every person has unique gifts that can add value to the world. Unfortunately due to lack of mentorship and personal discovery a number of youths are unable to correctly define their unique attributes. In the end they prefer to succumb to peer

 The road to where I stay is under construction. It is messy especially when it rains. No one loves that experience and motorists normally look for alternative routes to avoid the inconvenience. What lessons do we pick from this in relation to success in life? Every one wishes to succeed in the various dimensions of our lives, how ever the process requires patience and determination. In his book Think And Grow Rich: A Black Choice, Dr. Dennis Kimbro gives examples of so many black Americans who rose from poverty to become world influencers. These include Oprah Winfrey and Dr. Ben Carson. How did Dr. Ben Carson become a famous neurosurgeon? In his book Think Big, Dr. Ben Carson notes that he used to be the last in class. It took the mother's intervention for him to improve his grades. From then  on he started to top the class until he became a famous neurosurgeon. In today's world we tend to focus on the top rather than building the road to success. As a financial literacy trai

 It is the joy of every student to graduate from university. I have seen some graduates who expressed their joy by holding parties ( which is a good thing because it is not a mean achievement). However after the graduation what next. There are some lucky graduates who go ahead and acquire jobs but it is not a very big number. For the rest they face life as it comes. Uganda has over 30 universities and they all graduate students in the same market place. The job economy produces about 70,000 formal jobs per year amidst over 300,000 graduates. In his informative book After University What Next,  Ambrose Mukiibi challenges Uganda's graduates to dig deep into the nature of their degrees. The graduates have placed a lot of faith in the academic transcript as a measure of their potential and success. But it seems the real world judges our success differently. Any student will not be asked the marks that he scored in the interview room but rather they will be asked how they used the knowl

 The question why are some people more successful than others has been asked for centuries. There are various views and perspectives towards it. Several books have been written and various opinions offered towards this intriguing question. One of the core reasons given towards living a purposeful life is having a clear sense of direction. Brian Tracy in his book The 100 Absolutely Unbreakable Laws of Business Success noted that successful people think long term. John Maxwell in his book The 15 invaluable Laws of Growth noted that growth is a choice . This is supported by Dr. Myles Munroe . A few months a go a youth was killed by a mob for murdering a prominent businessman. A suspected witch doctor was arrested for murdering two innocent children in Kiboga District. A mother was arrested for dumping a child in a pit latrine in Kayunga District. All these examples point to the abuse of purpose. A case study of a leader who had a clear sense of direction was Nelson Mandela who was impri

 The government has a budget, what about an individual? We live in a society that wants to become wealthy. However there are some virtues that we take for granted. These include planning for our personal funds. Financial literacy gurus have noted that personal financial management precedes successful wealth creation. However I have met youths who say that they will plan for their money when they get a formal job. This means that they undermine little coins.  The small coins when added up constitute the desired amount. However one can never accumulate money when they despise the small coins. A budget enables one to forecast their income and expenditure for a certain period. Come to think of it if a country such as the United States of America has a budget that means that we should pick a leaf and develop budget for our own lives. Some parents have made it worse for children by buying them every thing that they want. Such children can not appreciate that money is a scarce resource. A bud

 We live in a money economy and money almost defines everything. From accessing quality health care to good education we need money to survive. There are even places where youths will not allow a person to pass if they are not given money. On the news I saw a group of able bodied youths who wanted to beat up staff of a sports betting company in Busia District for refusing to give them their " return on investment ." As a financial literacy practitioner on a daily Iam asked by the youths( who form the majority in the country, over 70% of the population is below 30 years ) what they can do to get a well paying job? This is a very pertinent question because with the high cost of living it becomes difficult to make ends meet. This explains why it is a taboo to pick up your phone in a taxi(you may not like the consequences). The increase in crime is some how related to the high rate of unemployment among the youths. Amidst the absence of jobs, there is an emerging pattern that req

 Tom(not real names lost his land title to a loan shark. This was because he had a pressing issue and could not wait. He borrowed money and signed the loan forms without reading the details. The loan agreements stipulated that when he failed to pay the funds in time he would lose his land. and indeed this is what happened. As a financial literacy practitioner I have witnessed such events .  We live in a society that wants everything instantly. This is especially the case among young people. Through the instant desire to get money very fast they have made financial blunders. What does this call for? It calls for paying attention to details. Every detail in finances matters. For example understanding the terms and conditions of the loan is very important. It is the right and duty of the customer to ask the loan provider to explain the terms and conditions of the loan. Before taking a loan it is important to know whether the company one is dealing with is registered. Financial literacy tr

There was a lady who was heavily indebted with a backlog of debts to pay. She was stressed and did not know the next step. By God's chance she heard of a financial literacy training that was held in her community. Since she was not busy that day she reluctantly attended so as to pass time. To her shock the messages given were what she needed to hear to redeem her financial situation. Today she is financially disciplined.  We all are potential candidates of financial distress. We are living in a volatile world with high cost of living and job uncertainties. This is why financial literacy training is very paramount. In a nation where over 70% of the population is below 30 years, financial literacy is very important. This is because youths are exposed to a lot of financial vulnerabilities. Because this they(not all) are bound to devise short term means to survive. Come to think of it, why on earth could a man with a panga cut innocent young children in Luweero because he wanted money

 In the Monitor of 11th June 2024 there is a story of a student died over subject combination row(page 3).As a person interested in youth mentorship I picked interest in reading the entire story to detect its full implication on the youth. The full details relate to the fact that the student was "forced by her parents to offer a subject combination against her wish. In the end she hang herself and lost her life. From a human capital development perspective this is loss of potential. Over 70% of Ugandans are below the age of 30 years .The youthful stage is characterized by vulnerability and that is why youth mentorship is very important. Each person is unique and has to be guided and not forced  to realize their full potential. Each person is unique and valuable and has to be enabled to realize and maximize their potential. It should be noted that success is a journey that is full of challenges and each person reacts to them differently. If a student can lose his or her life due to

 Youth unemployment in Uganda is real. The country is grappling with a rise in crime of late and this is linked to youth unemployment. Just a few weeks a go it was reported in the media of a man who confessed to have murdered 5 women in a space of 3 months. Another young man was killed by a mob a few months back for killing a prominent business man in the country. This is not to say that all youths are involved in crime but life becomes tough for any youth who has no job. Talent development is key in job creation. There are so many examples of sportsmen and women who have deployed their talents and made a lot of money. A case in point is Lionel Messi who is a world icon due to football. In Uganda several musicians have made a lot of money from their musical talents. This is proof that if one discovers and deploys their gifts and talent they can change their lives. A certain youth development practitioner noted that the statistics of youth unemployment among educated graduates are glari

 A certain trainee noted that he will save when he gets enough money. If this becomes the dominant thinking among the masses we would be in trouble. Saving is tough at all levels. This is worsened by the high cost of living. So many things are demanding for the attention of our money including the advertisers. In a nation where majority of the population are young people, the message of budgeting is very vital. The  youthful age is characterized by experimentation and therefore it becomes tempting to spend without planning. We have all been youth before and this is an age group that is trying to find their financial footing. It is not surprising that a university student can decide to gamble their tuition.  Budgeting enables one to forecast their income and expenses so that they can be able to live within their means. A budget can be daily, weekly, monthly or for the whole year. A budget should be written down. A budget can be for an individual or a business. A budget enables us to pri

 Unemployment is high. That is what official statistics will say and it is a fact. However in relating with a big section of youths there are people who have defied the unemployment statistics. What are they made of and what can we learn from them? Am not denying that unemployment is real but we can beat the odds if we interrogate the causes of unemployment. One of the issues that has been raised by the employers for a long time is the quality of graduates that universities churn out. Iam not denying the fact that universities are doing a great job in skilling Uganda's youths to fit into the very complex and fast changing employment landscape.A number of graduates focus on passing exams as a magic bullet to gainful employment. One of the greatest fears of any graduate is to complete studies and not get a job. Amidst these fears there is hope for a creative youth. There is a person who will read this article with contempt but I believe there is a person who will say enough is enough

 Life is a risk. It seems interrogating the word risk is very important in adult life. This is because as we grow older we become more risk averse .As we become more educated we tend to be averse to risk(this is not to generalize that every educated person is risk averse). Some of the most celebrated entrepreneurs such as Bill Gates are risk takers. The Wright Brothers faced criticism when they were initiating a plane. The rest is history. When Thomas Edison was inventing a bulb he failed more than 100 times but his response was the he had not failed but was becoming intelligent towards his dream. I believe the educated or elites who are supposed to be the major drivers of the economy can learn a lot from taking risks. Some of the leading entrepreneurs started with limited capital but were armed with a vision and determination. In his book Think And Grow Rich: A Black Choice, Dr. Dennis Kimbro noted that Oprah Winfrey who is one of the wealthiest women in the world did not begin that

 A few days a go  I asked a senior three student what he wanted to become after his studies. He noted that he wanted to become an engineer. I went on to ask him why he wanted to become an engineer and he told me he wanted to earn a lot of "money". I asked him if he has ever sat down with a successful engineer so as to guide him in his decision making. He was clueless of the next response. What does this signal? That many students are studying but without a clear sense of direction. The youths need guidance in order to maximize their God given potential. In coaching we are trained that each and every human being has an unlimited potential. We are a bundle of immense possibilities.  Parents are playing a very important role in shaping the lives of their children by paying school fees in a challenging economic environment. We give them credit. This is because the best gift a parent can give a child is quality education. However the missing link is personalized career guidance. M

 When a person reads Dr. Dennis Kimbro's book Think And Grow Rich : A black choice , he or she will be forced to rethink about their potential. In this book Dr. Kimbro gives examples of black Americans who were born in poor families but did not allow this to define them. A case in point was Dr. Benjamin Carson who was raised by a single mother but the mother had hopes in his son and did not give up on him. That is why mothers are great leaders in society. This is because they shape our destiny. From being the last in class to becoming a neurosurgeon it gives us hope in the power of human potential. As a coach I have had the privilege of interacting with so many youths who have given up on their dreams .I have seen youths who have got lost in the masses. They have literally given their power away. In a nation where the population is predominantly youth, the resignation to fate is "unacceptable". The youths must be turned into a blessing rather than a curse. Most youths wou

 Youth employment is real. Over 70% of Ugandans are below the 30 years. In addition we have over 30 universities producing over 300,000 graduates per year. The job creation rate is about 70,000 jobs per year. The question is, where do the remaining graduates go? It is an open secret that some graduates have given up on applying for jobs. This is because many have experiences of being rejected several times . That is the situation at hand. But should every graduate or youth give up? Some of the youths are doing their best amidst the challenging economic times. In fact a number have challenged the "discouraging" times by forming their own companies and are employing many other youths. With this happening it is a signal that all hope is not lost. In fact a number of universities have established innovation centers to spur the youth to use their creativity to create jobs. The Chinese say that wherever there is a challenge , there is an equivalent opportunity. Perhaps we need to r

 Life is tough and it does not spare any one from challenges. Even the president of the United States of America has numerous challenges. What is the differentiator between those who overcome challenges and those who become subdued? It seems attitude plays a big role. With the right attitude we can turn problems into opportunities. How come Indians and Chinese come to Africa and see opportunities yet for us the natives most of the time we focus on the problems.( This is not to mean that every African focuses on problems) As a person who speaks to numerous youths who form the majority of this country(over 70% are below the age of 30 years), I have made an observation that very many youths prefer instant wealth. They prefer to be handed cash than to learn the process of getting the cash . There seems to be a dislike to long term processes in society. That is why we see an increase in crime where some ill intentioned youths gang up to terrorize the population. The youths can turn into a

 Steven Covey in his book The Seven Habits of Highly Effective People noted that every thing is created twice. First in the mind and then physical. As a coach that is passionate about human potential it has come to my attention that many people disregard the invisible power of creation. Iam amazed that a youth may fail to buy a personal development book which are sold on the street at a very cheap price but afford to borrow money to attend a leisure party. Iam not against parties but what Iam discussing is the rationale. Some youths are focused on blowing their money and neglecting their dreams. A number of youths have forfeited their dreams because they are waiting for big monies to start. A number of youths have placed all their faith in academic transcripts and forgotten to use the skills acquired to solve social problems. Today we have some youths who are developing short term mechanisms of stealing peoples' property instead of using their minds to innovate. Today some youths a

 Life is tough. Even the president of the United States of America knows it. Despite the fact that life is tough there are people who do not believe in defeat. I have met university graduates who have given up on their dreams simply because they have not yet found their dream jobs. It is said that attitude determines altitude. It is said that winners never quit and quitters never win. We are living in a generation that quits when the going gets tough. So many youths have succumbed to peer pressure simply because they want to blend in.  I met a group of youths who said they do not believe in messages where they are advised that a person can begin with limited capital and grow big. This is a dangerous mentality because it is breeding a generation of lazy youths who will prefer handouts instead of hard work. It is said that Uganda has plenty of opportunities but many citizens do not see them. The Chinese and Indians come and see opportunities that the natives are not seeing.  Impossible i

 It is a right for everyone to have a decent job. Unfortunately times have changed. In the past when there was still one university employers would pick students even before graduating. The population had not yet increased to what it is today. Today universities produce over 300,000 graduates amidst a job creation rate of about 70,000 jobs per year. There is a lot of depression among the youths because they lack a decent job. Without a job a youth will lose his or her confidence. The high rate of crime is attributed to the high rate of unemployment. The youths who harm others so as to steal their valuable property in most cases do it because they lack the basic means of survival.  There is hope for an unemployed youth. Lack of a decent job does not mean one is a failure. The yardstick for measuring success in the adult life is different from school dynamics. Did you know that some of  the most successful entrepreneurs are school dropouts? Iam a great advocate of education and I will re

 Over 70% of Ugandans are below the age of 30 years. The youths face a series of challenges with the most significant being access to dignified employment opportunities. Uganda has over 30 universities and they produce over 300,000 graduates per year yet the job creation rate is about 70,000 jobs . This is a total mismatch yet the demands on the youths continue to rise. Some of the crimes that are emerging in society are attributed to a rise in youth unemployment. Uganda's youths can turn into a blessing if they are mentored into agents of positive transformation . If the youths are left in "survival mode" as a country we are in trouble. The other day I saw a group of youths on media wanting to beat up staff of a sports betting company because they were not paid for their return on investment. If the youths are now putting their faith in betting as a means of survival then something is grossly wrong.  Today we have university students whose sole aim is to pass exams with