ANYONE CAN MAKE A FINANCIAL COMEBACK IN 2026

 Life is tough. This is especially the case in the area of finance. A year is a long time and we thank God we have reached this far. The truth is that we might not have achieved our financial goals but we can pick lessons that can make 2026 a better year. I have noticed that the difference between successful people and those who lack is the attitude towards setbacks. If we allow setbacks to define us then we shall be defeated. However if we pick lessons from these setbacks we can become much better.

A few weeks back I received a call from one of my trainees that they had lost money to a savings group. These cases are so common especially during the festive season. A few years back a company that promised Ugandans abnormal returns collapsed and left many people in tears. What was really regrettable was that some people used their pension to invest in this company. So various Ugandans including working professionals have made financial mistakes during the year. The truth is that investment is risky and a lot of caution has to be made.

3 STEPS THAT CAN MAKE 2026 A BETTER YEAR IN TERMS OF FINANCES

1.Develop a long term mindset towards your finances. Most of the successful people project their lives 50 years from now. In that way they are able to make decisions that are not just based on short term feelings.

2.Pick lessons from financial setbacks. Instead of focusing on the fact that we lost our hard earned money let us focus on picking lessons that made us lose money

3.Seek advice from experienced investment professionals. It is absurd that despite the prevalence of a lot of financial coaches a number of people still invest their hard earned money without adequate research. The rich and successful always take time to research before they invest.

If 2025 has been a tough year especially in the area of finance, we can do much better in 2026 as discussed above.

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

Comments

Post a Comment

Popular posts from this blog

ACRE OF DIAMONDS

 According to Dr. Dennis Kimbro in his book Think And Grow Rich  every human being is an acre of diamonds. In simple terms we have more potential than we can imagine. With adequate self reflection this statement can change any person's life. It is Dr. Myles Munroe who noted that without knowing our purpose on earth we are likely to lead a less impactful life. The question that has been asked by many leading scholars is why are some people more successful than others? Is it family background? Is it luck? Is it the country where they were born? Unfortunately no body has a clear answer to this contradicting question. Hellen Keller was born blind but by the time of her death she was a very successful leader. Oprah Winfrey had a tough childhood but is now one of the most influential leaders in the world. Nelson Mandela was imprisoned for 27 years but became the president of South Africa. From the above case studies it is important for each one of us to learn a lesson. We have more...
Read more

A SAVINGS PLAN CAN AID IN FINANCIAL ADVANCEMENT

 I remember during the Trainer of Trainers training conducted by Bank of Uganda we were encouraged to develop a savings plan. This was a key development because without a plan we may live in financial darkness. In my years of providing financial literacy across the country especially youths I have observed that the intangible practices that may be undermined play a big role in the big picture. I have been asked a question, "how can one save yet their needs exceed their income?. It is a tough question but the best practice remains that even in the hardest of circumstances we should prioritize saving .This is because we do not know what the future holds. As humans we forget so fast. Who remembers during the lock down of Covid-19 when people were not working. Life was extremely tough. It was an opportunity to reflect about the importance of savings during good times. A savings plan enables a person to determine why they are saving. It could be for school fees, buying a plot, a car an...
Read more

WE CELEBRATE GRADUATION BUT AFTER THAT WHAT NEXT ?

 Uganda is officially dominated by young people. Over 50 %of the population are youths. With a high population the job market also shrinks yet people need to survive. It is the means of survival that create social pressure. The unemployment dilemma in the country can be dissected from different angles and each person or all stakeholders have a critical role to play.  Universities and other institutions of higher learning produce over 300,000 graduates per year. The job creation rate is about 70,000 jobs per year. This means that the job market is narrow. It is a common sight to see over 100 applicants for one job. This is a signal that something drastic must be done to change this trajectory. Development partners such as government, private sectors and donors such as Master Card Foundation are playing a critical role in addressing youth unemployment. In fact this suggests that fight against youth unemployment must be multifaceted.  During graduation season it is justifiab...
Read more