WHAT IS YOUR VIEW ABOUT MONEY

 As a Financial Literacy Trainer I have had the chance to listen to various views about money from various respondents. I have also had a chance to read several books related to the science of money. About two years ago there was a story of a suspected witch doctor who sacrificed two young children in Kiboga District due to the desire for wealth. A few years back there was a news article where a group of youths wanted to beat up staff of a sports betting company for failing to pay their return on investment in Bugiri District. To these youths betting was the quickest route to wealth creation.

When one reads Think And Grow Rich: A Black Choice, Dr Dennis Kimbro gave examples of various black Americans who started from scratch and built financial empires. These include Oprah Winfrey who was born in a poor family but had a vision of becoming a wealthy person. Today Oprah is a household name and is one of the wealthiest women in the world. The point is that in a nation where over 70% of the population is below 30 years, there is a tendency of the youths preferring short term wealth over long term. This makes them spend on unplanned ventures and end up multiple borrowers. It is not surprising that in a recent media publication it was noted that many Parish Development Model beneficiaries had diverted the funds to unplanned ventures.

In his book Secrets of A Millionaire Mind , Harv Eker noted that rich and successful people think long term. They have a long term view of their finances. This resonates with what Scott Anderson noted in his book Think Like A Billionaire. He noted that the wealthy see each note as a seed for wealth creation while the poor see each note a seed for spending. 

The above discussions notify us that we need to be careful about our thoughts regarding money. Behind that paper note there are invisible forces which we tend to disregard. That is why some people are rich and others struggle to manage finances. It is important to work on our mindsets if we are to redeem ourselves from the financial struggles . If we view money as a tool to spend we are doomed to fail. We need to learn from the financial masters how they redefined their financial landscapes.

HOW TO INCREASE OUR FINANCES

1.Have a long term financial vision

2.Live within your means

3.Research before you invest.

4.Seek financial mentorship

5.Create a budget

6.Save as your earn

7.Celebrate small wins

What is your world view about money. It is said that what we focus on expands .Many have become wealthy when they focused on expanding their economic base rather than spending all they had.

Phillip Kiryowa

Personal Finance Coach( CPC,CMA)

Advanced Empowerment Link

+256752615916

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