NO MATTER THE SITUATION OUR FINANCIAL DREAMS CAN BE RESURRECTED

 We all have financial aspirations. This is one of the most important reasons why we wake up every day. However it is not easy to achieve them. We live in a highly volatile world where many graduates have completed studies but they do not know what next. It is quite frustrating to complete a degree and fail to access a decent job. In the 5 years of providing grassroot community financial literacy training I have found out that Ugandans are very hardworking and resilient people. 

I have also found out that many want to save more but are currently stuck. One of the reasons why they are stuck is that they have lost the belief that saving small amounts can make a huge difference in the long run. The reason why I have hope in beginning small while saving is that a number of successful and wealthy leaders started small. The story of Equity Bank inspires any ordinary African that it is important to have a long term vision towards their finances. Equity Bank started as a small building society in Kenya and today it is a financial conglomerate serving over 15 million customers. It is quick to forget that it was out of sheer hard work and determination that Equity Bank fortunes changed.

The above message is timely because over 70% of Ugandans are below 30 years and this age group tends to focus on the now. It is critical that we mentor the youths to have long term objectives towards their personal finances. I have seen university graduates divert their tuition to gambling as a mechanism for instant wealth. Since the youths are the future leaders of the nation, the country is in jeopardy if they are addicted to get rich schemes. The youths should embrace investment clubs and other social groups so that they can save jointly.

HOW TO RESURRECT OUR FINANCIAL DREAMS 

1.Have a long term financial vision

2.Save As You Earn

3.Develop a budget

4.Create an emergency fund

5.Automate savings

6.Research before you invest

7. Join an investment club

8.Seek financial mentorship 

9.Celebrate small wins 

10. Open an account in a regulated financial institution.

We all have financial dreams and goals. We should not lose hope. The story of Equity Bank reminds us that regardless of our beginning we can transform our financial fortunes.

For individual and corporate financial literacy training contact :

Coach Phillip Kiryowa

Personal Finance Coach (CPC)

Certified Master Trainer, Bank of Uganda 

Founder, Advanced Empowerment Link

0752615916

For Financial Freedom and Sustainable Enterprises


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