EMPIRES OF THE MIND CREATE OUR FINANCIAL WORLD

 We are products of our thoughts. A friend of mine reminded me that the world is created by our thoughts . Many times we have allowed our circumstances to define us. Life is not static. The fact that we have seen people from less fortunate backgrounds change their financial fortunes is a reason enough to believe that no situation is too hard to change. We tend to forget the power of the mind in altering our life circumstances. As a Financial Literacy Trainer I have first had experience in that because I have trained thousands of people across the country. The stories we tell ourselves play a critical role in shaping our financial destinies.

In his profound book called Think And Grow Rich : A Black Choice: Dr. Dennis Kimbro cites examples of several black Americans who came from less fortunate backgrounds and have contributed positively towards the economic development of America. They simply believed in the American dream. Some are immigrants who came to America as slaves. A case in point is Dr.Washington Carver who was born to an American slave and the poor boy studied during harsh circumstances where he used a candle to read . It is the desire to make his life better that propelled him to read hard. Dr. Washington Carver is credited for having developed over 100 patents in potato and revitalized the agricultural system . What about Dr. Ben Carson who was born to a poor black American and was always the last in class. But with the encouragement of his mother he went on to top his class and earn a scholarship to Yale university. From someone who was always the last in class to becoming a neurosurgeon who separated the Siamese twins in a complicated surgery which other experienced surgeons had refused shows how the power of resilience and dedication can make a difference in life.

Harv Eker in his great book called Secrets of A Millionaire Mind noted that rich and successful people think long-term. The fact that one is financially struggling today does not mean that is the end of their life. For as long as one is alive they can change their lives. We should not allow fate to bury our dreams. We should have concrete dreams for making our lives better. Man is a goal seeking animal and in the absence of clear hopes and dreams we are likely to make half hearted efforts. Even one idea can make a difference. Colonel Sanders had a chicken recipe which he marketed to different companies and was rejected . But today his company is world wide. Had he believed in his rejection we would not have seen KFC.

The point is that we should dream big but take small and practical steps towards our dream. Every dream is a potential world changer.

HOW TO ALTER OUR FINANCIAL LIVES

1.Have clear financial goals 

2.Set a long term financial vision

3. Live within your means

4.Associate with successful people

5. Set up an emergency fund

6.Research before you invest

7.Seek financial mentorship

8. Learn from your past.

The mind is a very important tool in shaping our lives Many times we rush to look for finances without first taking time to plan how we shall make the money. That is why a number of times people lose the funds in get rich schemes. But when we take control of our thoughts we can change our circumstances.

Phillip Kiryowa

Personal Finance Coach (CPC,CMA)

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