WHAT BOOKS DO YOU READ ON THE ROAD TO FINANCIAL ADVANCEMENT ?

 A certain youth took time to explain to me the standing of the English Premier League. It is good to watch football. This is because it relaxes the mind . As a financial literacy trainer I wanted to ask some personal questions regarding finances. So I asked this youth whether he has ever read any book on personal finance? He had no automatic reply. I bring to your attention that all leading financial trainers note that money is a mental game. There are countless books that have been written about the topic of money. There is a lot of literature concerning finances on social media. The important question is how many people take time to internalize this information and make changes in their lives.

It is said that what sinks a ship are the small leakages . In the same way we have seen many examples of leading sportsmen and women who had a lot of money and they are paupers today. This should explain to us that we should never take financial literacy training for granted. A number of youths have lost money to get rich schemes simply because they prefer over night success. But if these youths had taken time to seek advice from trusted professionals before they invest the story would be different.

The youths of today have so many programs aimed at developing their earning potential but many seem focused on wrong priorities. The youths seem to prefer handouts than practical ways to earn  a decent living. This can explain the growth of the gambling industry in Uganda. The youths seem to prefer to be handed money without working. This explains why in a certain report it was shown that a number of youths think that Parish Development Model funds are political handouts and a number of them end up diverting the funds into unplanned activities.

HOW TO ENHANCE FINANCIAL LITERACY

1.Youths should have a clear financial vision for their lives

2.Enhance financial literacy training in communities

3.Use social media responsibly

4. Recognition of hardworking youth entrepreneurs

5.Provision of seed capital to youthful entrepreneurs

6.Reduction of taxes on education material


Books play a critical role in changing traditional paradigms regarding money. If some of the ritual murders are linked to wealth creation then we still have a long wat to go in changing the mindsets of the population. A number of stories have linked child sacrifice to the pursuit of wealth. This is why it is important to link reading books to changing the paradigms of the population.


Phillip Kiryowa

Personal Finance Coach

Advanced Empowement Link

+256752615916(For Consultations)

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