WHAT IS OUR ATTITUDE TOWARDS MONEY

 Our attitude in life leads to success or failure. Unfortunately attitude is just a choice. There are plenty of examples of entrepreneurs who started with almost nothing and today are mega entrepreneurs. Microsoft was started by Bill Gates when he dropped out of university. A number of successful businessmen in Kikuubo, which is Uganda's Central Business District never reached university but are sustaining the economy. The lesson in all this is that attitude plays a big role in what we become in life. Some of the leading banks such as Equity Bank started as small building societies and today they are financial conglomerates impacting millions of lives. Had the founders focused on the bottlenecks around them, we would have missed out on the great impact of such initiatives.


With a wrong attitude towards money many youths have diverted their hard earned resources to get rich schemes. Others have diverted the funds to drugs and other unplanned ventures. With a wrong attitude towards money an individual will lack initiative to change their lives. Uganda being an entrepreneurial country I have witnessed so many enterprising youths who have started up great companies. But others give up due to peer pressure. No leader who has impacted the face of the earth has not been criticized. It is important for us to be focused on the end in mind. If an Indian can come to Uganda with almost no capital and in one year they have a successful business then what can stop a Ugandan from doing the same?

A number  of young people prefer to work in isolation and this is the number one disaster because working single handedly in today's highly competitive world is a disadvantage. I know of a group of university students who formed an investment club and today it is a respected company that is worth billions in investments. What if these youths had doubted their God given potential.

In a nation where over 70% of the population is below 30 years it is imperative that right from childhood we train them about money. Why would a parent beat up their child because they have stolen 200 Uganda shilling. In contrast I once saw an Indian parent who came with his child to the bank to teach him about the dynamics of money at a young age. The failure to teach youths about money at a young age explains why when most Ugandans grow up they struggle handling finances.

HOW TO CHANGE OUR ATTITUDE TOWARDS MONEY

1.We should introduce youths to money at a young age

2.Intensify financial literacy training in communities

3.Access to simple information about finances in local languages

4.Think long term

5.Seek financial mentorship 

6.Research before you invest

7. Provide soft loans to young entrepreneurs

8. Save as you earn

9.Learn from past mistakes 

10.Celebrate small wins.


Attitude determines altitude. The fact that the likes of Oprah Winfrey and countless Ugandans started off poor and are now financially successful indicates that any person with the right attitude towards money can become wealthy.

Phillip Kiryowa

Personal Finance Coach(CMA)

Master Trainer, Bank of Uganda 

Founder, Advanced Empowerment Link

+256752615916

For Financial Freedom and Sustainable Enterprises

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