CAN ONE BEGIN WITH LITTLE COINS AND END UP WEALTHY?

 I was asked by one of my mentees at university whether they can start with little money and end up wealthy? It was a good and reflective question. I do not have all the answers to the question because we are all on a journey but with the examples I have seen around it is very possible. The first thing to note is that life is tough and this means the road to economic transformation will be marked with tough choices and obstacles. Today we have a challenge that everything is fast paced and therefore we tend to neglect the process and focus on the outcome. We tend to see success only at the top and the preparation for the achievements is never fancy. Ask most of the youths including the university what their desire is and they will quickly inform you of the desire to get a good job, make a lot of money and enjoy life. These are noble aspirations. The question is the journey easy? The answer is no. However with the right attitude it is possible. Life without money is hell on earth. Lives have been lost. Families have disintegrated. Crimes rise due to lack of money. Children's dreams are shattered due to lack of school fees. 

According to Brian Tracy in his book, The 100 Absolutely Unbreakable Laws of Business Success, he notes that successful people think long term. This is supported by Harv Eker in his book Secrets of A Millionaire Mind.  These are paradigm shifting statements for any person seeking to change their financial destinies. We have been deceived by photos on social media that life is easy. Some people have given up on reading personal development books because they promise instant results or quick fixes and when they see that it is not easy, they give up(of course not everyone gives up). As a financial literacy trainer I have been to places where trainees expect transport refund when they have been given skills that can enable them to build successful businesses. We have witnessed entrepreneurs who simply started with almost with nothing except vision but today are wealthy. We have a lady called Grace Nanyonga whose example inspires many and it is relevant to a university student. This young girl lacked school fees at university and started selling fish so as to get capital and tuition. Was it easy for her? No. She says she was always laughed at but her vision was greater than her obstacles and in the end she was able to graduate and she set up a company as a result of her passion. These are the stories that the generation of today needs to hear. We should avoid the get rich schemes that dupe people of their hard earned savings. Just last year a company duped the public of their hard earned money. Some even had to use their National Social Security Fund Savings and they lost it all. That is tragic and it should not happen to anyone.

It is very possible for one to alter their financial situation if they think long term and have a resolve to change their financial circumstances.

HOW TO ALTER OUR FINANCIAL DESTINIES 

1.Have a long term vision towards your finances

2.Save as you earn

3.Live within your means

4.Avoid peer pressure

5.Invest in personal growth

6.Raise your standards

7.Seek financial mentorship

8.Learn about investments

9.Open an account in a financial institution that is regulated

10.Spend with a budget.


Life is tough. Is it easy to alter our financial lives? The answer is yes. With so many examples that show us that a number of today's wealthy people began from scratch and today are prominent entrepreneurs we have hope that it is possible if we take the right steps. If others can then even us we can.


Phillip Kiryowa

Personal Finance Coach

Advanced Empowerment Link

+256752615916


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