FINANCIAL FREEDOM STARTS WITH FINANCIAL LITERACY

 "How fast can I get a loan from the bank" is one of the most common questions that Iam asked during financial literacy training sessions. This question requires careful assessment because it has many leading lessons that we can learn from it.

In a recent media article I read about beneficiaries of Parish Development Model money diverting the funds to unplanned ventures. Others regarded the funds as a political gift. This correlates with the observations that I have made in the many parts of the country where I have gone to train people especially the youths in financial literacy. There is a general tendency to think that the presence of money in the pocket is the only indicator of financial freedom. If it was the case we have seen many stories of leading sportsmen who had a lot of cash during their times and today are paupers. The lesson is we should be very careful when we have money in our pockets. There are so many demands that require the attention of our money. 

Warren Buffet who is one of the wealthiest men in the world is noted for making due diligence before he invests in any company. On the contrary many Ugandans for the desire to make quick money have fallen victims of get rich schemes. In fact just last year there was a company that closed after defrauding so many people of their hard earned money. 

So the desire for financial freedom requires careful attention and due diligence. It is said by Harv Eker in his book, Secrets of A Millionaire Mind that we should think long term when it comes to money issues. This will aid us to invest in knowledge of how to secure our hard earned earnings.

HOW TO ATTAIN FINANCIAL FREEDOM

1.Have clear financial goals

2.Think Long term

3.Associate with successful people

4.Identify coaches and mentors

5.Research before you invest

6.Avoid moving large sums of cash

7.Have a savings plan

8.Attend financial literacy trainings

9.Have a budget.

10.Avoid get rich schemes

It is a noble desire to seek financial freedom. Money plays a crucial role in our lives. However we should be cautious in investing our hard earned money as discussed above.

Phillip Kiryowa

Finance and Leadership Coach(PCC)

+256752615916

For Financial Freedom and Sustainable Businesses

Available for consultations on call and bookings.

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