A NEW CLEAN SLATE TOWARDS OUR FINANCIAL JOURNEY

 Many times we are products of our past. One time I asked a youth to explain to me what had caused him financial challenges. He was quick to give me several answers. Most of them were related to his past. It is a fact that many people have a poor past. Many were born in poor backgrounds among other challenges. We also have cultural stereotypes where some women are refused to work. So in many ways life presents bottlenecks to us as humans. Should we give up on changing our financial lives? The answer is no. We all have the potential to become better finance managers. I have had a privilege of reading some good books on success and one interesting thing is that a lot of attention is placed on mindset change. The simple step of seeking to change our mindsets about various areas of life is one of the greatest gifts we can hand ourselves. Harv Eker in his book Secrets of  A Millionaire Mind noted that each and every one of us has a financial blue print or mindset. There is a particular way our minds relate with money. That is where our attention must be placed. If our mindset is focused on spending then that is the area that we need to address.

In 2025 we need to take individual responsibility for changing our financial destines. True we are all affected by social decisions but still with better awareness we can make better financial choices. If others in seemingly worse financial  situations and limited exposure to financial information can make more informed choices relating to money, what can stop us from becoming better at managing money in the new year. It is not an easy task when we are focused on making excuses for how our past has destroyed our chances of altering our financial destinies. If we have spent most of 2024 spending without a budget perhaps it is time we emulated spending with a plan. Perhaps if one did not open an account in 2024 in a regulated financial institution such as Equity Bank it is time we made that bold step. Perhaps you find it difficult to save as an individual , it is high time one joins an investment club or a Sacco that can enable them to have accountability is saving. In the new year every step towards building better financial habits is a positive step.

The new year  gives  us a clean slate to build our financial resilience. Dr. Robert Schuller noted that Tough Times Never Last But Tough People Do. It means that in 2025 we shall face challenges since they define life. But we need to be careful on what we focus on. If we focus on financial scarcity then that is what will be manifested.

HOW TO IMPROVE OUR FINANCIAL HABITS IN 2025

1.Have clear financial goals

2.Seek financial mentorship

3.Live within your means

4.Develop a budget

5.Save as you earn

6.Learn from past mistakes

7.Open up an account in a regulated financial institution

8.Sorrsound yourself with successful people

Life will always present us with formidable challenges. Most of the successful entrepreneurs have challenges of huge magnitude. Some are heavily indebted but their vision keeps them awake. This should show us that no one will ever escape challenges that life has to offer. In 2025 with a positive attitude we have a chance to make better financial choices as discussed above.

Phillip Kiryowa

Personal Finance Coach 

Advanced Empowerment Link

+256752615916(For consultations)

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