IS THE NOTION OF WHAT IS IN IT FOR ME AFFECTING FINANCIAL ADVANCEMENT?

 Everyone wants money and indeed they are right because without money life becomes a tall order. But in pursuing money there are various means to financial advancement. One of the common statements from today's youths is what is in it for them? Iam not trying to mean that one does not deserve money after providing a service. What Iam trying to focus on is the predominant notion that youths want to be paid before they even work. A number of  youths including those are university have an entitlement mentality which is making them lose glaring opportunities. 

We all know how scarce money is but a number of youths have placed their faith in get rich schemes . I do not know of any economy that has grown due to gambling. But today we have some youths who have become experts in get rich schemes as a way of survival. Two years back I saw on Television a group of youths who wanted to beat staff of a sports betting company because they had not been paid for their returns . Such youths need to redirect their efforts to more productive ventures.

Some youths pledge their property to loan sharks for money to invest in gambling and some university students divert tuition to get rich schemes. Also it was reported in a media publication that a number of youths had diverted Parish Development Model Funds to unplanned ventures . Other youths regarded the funds as a political donation. Other youths form groups not for the intention of developing but scheme for any available funds.

The what is in it for me mentality has created a consumption society where youths are only looking for ways to survive rather than thrive. It is said that the youthful age is supposed to be one of the most productive but some youths have decided to opt for handouts instead of being agents of positive transformation in their communities. Though Uganda is regarded as The Pearl Of Africa( on paper) in reality it is becoming an insecure nation because its citizens fear moving at night because youthful gangs without jobs are targeting innocent people to rob their property.

All is not lost because in my journey as a Financial Literacy Trainer I have interacted with a number of promising and enterprising youths who have decided not to place their fate into external parties to utilize what they have to make a difference in their communities. I know of a youth who attended a financial literacy training with a financial institution and is today employing very many youths. I know of another group of youths who began an investment club and today it is worth billions in investment.

What is needed among the youths is a paradigm shift so that they do not view themselves as victims but rather as agents of positive transformation of their communities.

HOW TO BUILD A SAVINGS CULTURE 

1.Have a clear financial vision

2.Set clear financial goals

3. Develop a budget

4.Save as you earn

5.Live within your means

6.Research before you invest

7.Start small

8.Seek financial mentorship

Everyone needs money but the what is in it for me culture has been abused by many youths. It is breeding a generation of selfish youths and this is amplifying the unemployment rate.

Phillip Kiryowa

Personal Finance Coach (CPC)

Advanced Empowerment Link

+256752615916

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