DEAR WORKING PROFESSIONAL: A LONGTERM PRESPECTIVE TOWARDS OUR FINANCES CAN MAKE A HUGE DIFFERENCE

 How do we view our salaries? It is true one might be earning less than they expect. But thank God we have  jobs. There is someone who is praying for the job that we currently possess. The inability to appreciate what we have can make us misuse the resources we have . Out of frustration of inadequate pay, a certain working professional used her monthly salary to start a retail shop. Over time the shop has accumulated profits for her and she has been able to pay school fees for her children.

I know of a group of university students who after graduation started an investment club and today is worth billions in investments and have invested in real estate. I know of another group of former students of a secondary school who out of their online group started an investment club. They pooled resources and bought land and subdivided it. 

The valuable lesson for a working professional is that we need a paradigm shift in how we view our resources. There are countless entrepreneurs who used limited resources to start companies. The prevailing tendency of spending all that we earn is disastrous since we are in unpredictable times. This message is critical to the youths who are bombarded with all types of advertisements on social media.

The other challenge that a working professional faces is peer pressure. In a nation where over 70% of the population is below 30 years there is a tendency to want to please friends especially in making financial decisions. Many spend on items and activities that they did not want simply because their friends said so. There was a working professional who betted all his salary and he faced a tough time the following month.

Also it is important for a working professional to have a long term financial vision . What we focus on expands and it is possible for a working professional to improve their finances when they shift their focus to a longer term perspective. Great achievements are a result of sacrifice. This is the case with our personal finances. Without personal discipline we are unlikely to make responsible financial decisions.

 It is possible to improve our finances if we are focused on the long term.

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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