WE SHOULD WATCH OUR HABITS IN OUR FINANCIAL JOURNEY

 In his book Atomic Habits, James Clear notes that success is a product of our daily habits. Many times we tend to view success from only the top. However all leading authorities note that success can not be achieved overnight. This relates to all facets of life. We are living in a generation that is skewed to seeing success from only the top. This has given rise to get rich schemes. I have heard of several stories of university students who gamble tuition. 

A number of get rich schemes have conned the public of their hard earned money. This is because they wanted to make quick money yet the natural laws favor long term investment. Warren Buffet is one of the world's wealthiest men and he started learning about stocks at a young age. Today he is one of the wealthiest men . Oprah Winfrey was born in a poor family but had a firm belief that one day she would become wealthy. Today she is one of the wealthiest women in the world. Professor Mohammed Yunus started Grameen Bank as a pilot project in Bangladesh. Today it is a pace setter in the microfinance industry in the world.

What we require in our financial journey is consistency and determination. If others from seemingly disadvantaged communities have made it what can stop the dear reader from accomplishing their financial goals? I know of a university student who uses her story to inspire youths from disadvantaged communities. She did not have tuition at university but devised selling fish and was laughed at by students. Today she has a company that is employing various women from her passion of selling fish. Had she listened to her critics she would not have made it.

There are countless youths whom I have met who do not believe in their dreams. This is partly due to the environment in which they grew. They do not have role models who exemplify financial abundance. All they know is that money is a seed for spending. This has brought so many challenges in society. When majority of the population is wired to spend then society is in trouble.

HOW TO ADVANCE OUR FINANCES

1.Have a long term financial vision

2.Save as you earn

3.Live within your means

4.Create an emergency fund

5. Develop your skills

6.Seek financial mentorship

7.Automate savings 

8.Create a budget


Habits can make us or break us. Good habits are essential in developing a saving culture. On the contrary bad habits can ruin our finances as discussed above.

Phillip Kiryowa

Personal Finance Coach(CPC,CMA)

Advanced Empowerment Link

+256752615916

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