COURAGE COUNTS IN FINANCIAL ADVANCEMENT

 A certain youth wondered whether he would ever achieve his financial goals. In worrying he is not alone. Thousands of people wake up every day to achieve their dreams. However it is not that simple. We are living in a Volatile, Uncertain Complex and Ambiguous world. No body exactly knows what the future holds. This is where a positive attitude and faith comes in. John Maxwell noted that attitudes determines altitude. A poor attitude towards financial advancement limits our financial potential and creativity. There are people who have given up on their financial dreams while still alive. But Colonel Sanders built KFC in his 60's. 

I have met many amazing youths with incredible dreams of building world class companies . However their talk is not that convincing. They seem not to believe in their dreams. They seem to be waiting for external validation to make their lives count. All successful people did not wait for external validation. They worked hard in the private and today we are seeing them as instant winners. What the youths of today need are the messages to inspire them to think long term. This requires courage. Today we are breeding a generation of youths who give up too soon. Once one graduates they feel entitled to get a job immediately. However it seems times have changed because population has grown and the number of universities has risen to over 40. This means we need to build courage among the youths that they can start small and grow big. Last year on media I saw a scene of a group of able bodied youths who wanted to beat up staff of a sports betting company in Bugiri District for failing to pay their returns . So if youths expect instant returns then the country is in trouble. 

So courage will enable the youths to have faith in themselves and in their ability to start up companies and build their financial reserves in the long run.

HOW TO BUILD FINANCIAL DISCIPLINE

1.Have a long term financial vision

2.Save as you earn

3.Associate with successful people

4. Avoid peer pressure

5. Save in a financial institution.

6.Have a financial mentor

7.Invest in financial literacy

8. Avoid instant gratification

9.Live with in your means 

10. Have a budget

11.Invest in personal development


Courage matters in changing our financial trajectories. Those who have overturned their financial situations have taken responsibility for their lives. If they could do it. We too can .

Phillip Kiryowa

Personal Finance Coach

Advanced Empowerment Link

+256752615916

Comments

Post a Comment

Popular posts from this blog

A SAVINGS PLAN CAN AID IN FINANCIAL ADVANCEMENT

 I remember during the Trainer of Trainers training conducted by Bank of Uganda we were encouraged to develop a savings plan. This was a key development because without a plan we may live in financial darkness. In my years of providing financial literacy across the country especially youths I have observed that the intangible practices that may be undermined play a big role in the big picture. I have been asked a question, "how can one save yet their needs exceed their income?. It is a tough question but the best practice remains that even in the hardest of circumstances we should prioritize saving .This is because we do not know what the future holds. As humans we forget so fast. Who remembers during the lock down of Covid-19 when people were not working. Life was extremely tough. It was an opportunity to reflect about the importance of savings during good times. A savings plan enables a person to determine why they are saving. It could be for school fees, buying a plot, a car an...
Read more

THRIVING AMIDST UNEMPLOYMENT

 Ask any graduate what their worst night mare is and they will inform you that lack of access to a dignified employment opportunity is a big hurdle. Over 70% of Ugandans are below the age of 30 years of age. There are very many reasons why the unemployment rate needs to be addressed. Uganda has over 30 universities and all universities graduate over 300,000 graduates per year yet the formal sector produces on average 70,000 jobs. This mismatch is an indicator of the frustrations that the young people face. It was on media last year when I saw a group of able bodied youths who wanted to beat up staff of a sports betting company for failing to pay for their "Return on Investment" in Bugiri District. Iam not saying that all youths are involved in crime .What am trying to point out is that the probability of a youth without a job being involved in crime is high( after all there is a saying that an idle mind is a devil's workshop). Just this year there was youth who was killed...
Read more

WE CELEBRATE GRADUATION BUT AFTER THAT WHAT NEXT ?

 Uganda is officially dominated by young people. Over 50 %of the population are youths. With a high population the job market also shrinks yet people need to survive. It is the means of survival that create social pressure. The unemployment dilemma in the country can be dissected from different angles and each person or all stakeholders have a critical role to play.  Universities and other institutions of higher learning produce over 300,000 graduates per year. The job creation rate is about 70,000 jobs per year. This means that the job market is narrow. It is a common sight to see over 100 applicants for one job. This is a signal that something drastic must be done to change this trajectory. Development partners such as government, private sectors and donors such as Master Card Foundation are playing a critical role in addressing youth unemployment. In fact this suggests that fight against youth unemployment must be multifaceted.  During graduation season it is justifiab...
Read more