FINANCIAL LITERACY & PERSONAL DEVELOPMENT

 I am a firm believer that each individual has a lot of potential  and if it is well nurtured it can make a lot of difference. Uganda is a country with one of the youngest populations in the world. The key question is are these youths maximizing their potential? Every year over 40,000 students graduate from university and other institutions of higher learning. There is a lot of excitement after graduation. This is justifiable because it never easy to graduate but the question to ask is what is the fate of the graduates after graduation? In his book After University What Next ? Ambrose Kibuuka challenges a university student to analyze their university qualifications. A degree is an opening for a university student to explore the world. The founder of Psalms Industries started it as a university project. Little did he know that it would emerge into a big company that employs thousands of Ugandans. What if he had doubted his idea, we would have missed out? I have realized that s...

We live in a Volatile Uncertain Complex and Ambiguous World. Such is the nature of life. No one predicted the oil crisis. No one predicted that Covid 19 would negatively impact the world like it did. A sudden shift in oil prices affects our earning and spending. Money is the currency of life and the absence of money in our lives leads to financial distress. The increase in oil prices affects movements and suddenly prices of basic commodities such as food and water have increased. The pinch is also felt by parents who have to pay school fees and meet their daily expenses. The above show that financial literacy training is a key intervention in enabling the ordinary person to cope up with financial distress. With scarce resources planning and prioritization become very important. A research showed that over 70% of domestic disputes are related to money. This shows that we need to discuss about money if we are to avoid family disharmony. Surprisingly a number of people take money issues l...

 It was a moment of so many youngsters on 13th March 2026 when results of Uganda Advanced Certificate Education (UACE) results were released. There is a reason to celebrate because education is not an easy journey. One of the most critical questions after any achievement is the question what nex t? As students celebrate their achievement it is important to take time and analyze their next steps. It is said that it is in the moment of decisions that our lives are shaped. Out of excitement a destiny can be cut short because of irrational decisions. The senior six finalists are at a crossroad on which choice of careers and institutions they should join. Unfortunately after decades of providing career guidance to students from primary to university level I have found that a lot is missing in providing the right guidance to the youths who form the majority in the country( over 70% of Ugandans are below 30 years) . Many are left by their parents to make their own career choices under the...

 Two weeks ago over 9000 students graduated from Makerere Universities in various academic disciplines. I congratulate the gallant students upon reaching this milestone. Acquiring a degree is not a mean achievement. It shows determination and resilience. In trying to anticipate what next for a university graduate after a long time in books , I realize that adequate preparation is required for a student to excel in the world of work. Without adequate preparation a graduate will find it hard to fit into society and some have cursed why they graduated.  A number of students enter university without adequate mentorship or guidance and that is where problems start from. Without adequate mentorship, a student who is full of potential is likely to waste time at campus. So in order for university students to maximize their stay at university ,there should be efforts from all stakeholders to ensure that they receive advice from various practitioners. I have met a number of students fro...

 A few weeks back over 9000 students graduated from Makerere University. There was a lot of jubilation from the graduates and their parents. This is justifiable because spending over 18 years in school is not a mean achievement. We congratulate all the graduates upon this milestone. As the celebration is over , the key question is where are the graduates heading after university? For a long time our education system has prepared us to be job seekers and it is a good thing because without a job to earn an income life becomes hard.   The essence of this article is to focus on those masses who have lost hope in life because they lack a formal job. Today the rate of job creation is far below the number of students who are graduating every year. There are over 30 universities in Uganda and all of them are producing graduates with the same qualifications. Today we have graduates who are wondering why they completed university. I want to assure the graduate that  it is wort...

 Why is it that some families have produced wealthy families for years and others struggle in their finances for generations? What is it that we can learn from these titans so that we also achieve financial freedom. Is financial freedom an instant result or it is a long term endeavor? Why is it that certain times when a founder of a leading business passes on the siblings fail to handle the estate? Why is it that in the real world the entrepreneurs who build big businesses have never stepped into university? When the leader of the Aga khan Foundation passed on, there were no stories of public disputes about succession. The Aga khan Foundation has several businesses that employ thousands of people and contribute to national development. It is the desire of every parent that when their children grow up they will succeed in every dimension of life. However we have seen countless cases of children who until university struggle to manage their finances. We have seen young working profes...

 It is said it is in the moment of decisions that our destinies are decided. An individual from a poor family decides to complete their studies for a better future and another individual from a wealthy family decides to gamble their school fees. When we learn about the consequences of our choices we are likely to achieve fundamental shifts in our lives. Oprah Winfrey was born in a poor family but this did not deter her from dreaming big. Today she is one of the wealthiest women on earth. I have met a number of young professionals who make financial mistakes and they blame it on the external environment. When we  misuse our finances we should not place the blame  on family and other external influences. Ultimately our financial destiny is in our hands. I have seen farmers who earn less than the normal working professionals save in more than one savings group. This is because they have put the destiny of their financial lives in their hands. At university there is a tendenc...

 It is the  desire of every working professional to multiply their income. Where as this is a noble aspiration so many times our actions sometimes are contrary to our desires. When we have jobs sometimes we take them for granted. It is a privilege to have a job no matter how small. It is the attitude that counts most.  A few weeks back over 9,000 students graduated from Makerere University. The question is who will employ the majority of these young leaders? This state of affairs should awaken those who have jobs not to take them for granted. We cannot achieve financial freedom when we lack a source of income. This means that having a job in today's highly competitive business environment is a real privilege. Attitude plays a critical role in our relationship with money. A negative attitude will hamper our efforts in giving our best at work yet in the human potential industry every working professional has enormous potential to achieve both personal and organizational goa...

 Age has always been used as a barrier for not getting started. So many graduates are asserting that they are waiting for the ideal time to start their businesses. The adults in their advanced age are also explaining that they have no time to start a business or something significant in their lives. This is a paradox. Who is right or wrong? Unfortunately we are growing every day and there is no status quo. The earlier we realize that age should never be a barrier to transformation the better.  In his 60's when Colonel Sanders contemplated suicide is when he realized that he had a recipe that would later turn into KFC which is now a global organization. Imagine what the world would be missing had he regarded age as a barrier to his creativity. Today KFC is employing millions of people and contributing to national development. When it comes to the young generation age should never be given as a barrier for enterprise development. Facebook started as a university project and now ...

 In my journey as a financial literacy trainer I have had a privilege of interacting with countless individuals and we have discussed about financial matters. This has given me an opportunity to learn the importance of preparation when it comes to acquiring a loan. In financial matters every person is wise with their experience but then there is always a better way in every dimension of life. When it comes to borrowing I have realized that clients place more emphasis on the physical cash than the process of acquiring a loan. Just like adequate attention is given to planning when putting up a storied structure in the same way when acquiring a loan it is important the clients are well prepared. One of a glaringly signals of a poor loan appraisal is when a client is not adequately trained about the interest rate and other terms and conditions. Since a loan is meant to help a client to progress it is prudent that any financial institution takes time to train the client about the cost o...

On a good note there is an increase in financial awareness in most communities. Many people are talking about accumulating wealth so as to prepare for an unpredictable future. Who remembers the torrid experience the world went through during Covid 19 and the lockdown? I remember two young men burning themselves up because they could not cope with the high cost of living. This means financial issues are a matter of life and death, The statistics from National Social Security Fund are also not very inspiring. It is estimated that over 30% of the saver's savings are depleted by the second year of retirement. Many dreams have been forfeited simply because of financial hardships. A close look at families that have built successful businesses and have stood the test of time should give us a lesson so that we learn from them. We all know that the basic unit of society is a family. The question is, how can we use our family unity to enhance our finances? Africans have a strong social bond ...

 As a banker and financial literacy trainer I have received a question from several trainees, what is the least amount that a customer can save in a bank? This is an important question that if well understood it has the power to transform the lives of so many people. The first thing to note is the importance of humble beginnings. Most great companies started small but with consistence they grew into what they are today. There is no least amount to save in a bank. Some customers feel shy to bring small amounts in the bank but I take this opportunity to encourage them to save as low as they want. It is better to save small amounts than not saving any coin. The savings culture can only be promoted if it is encouraged from a young age. I have met university students who assert that they do not need an account. As future business leaders these students need to embrace saving at a young age.  We need to embrace the Indian culture where children learn about money at a young age. Some...

 In the Daily Monitor of 26th February 2026 on page 26 there was a story about graduates turning to casual labor as the job crisis bites. This requires serious reflection and attention in a nation where over 70% of the population is below 30 years. In the mind of any graduate is to get a decent job after gradation. That is what our education system wires us to think and work upon after graduation. But with the unprecedented rate of change a graduate must take caution about their career. No longer can a student or graduate leave their future to chance. The education curriculum is being changed to match the fast rate of change .Even policy makers are at a crossroads. Today even traditional courses such as Law, Engineering and Medicine cannot guarantee a graduate a job. In the past when there was one university students would be head hunted by companies even before graduation. Today the situation has changed because even for a university student to get an internship placement is a tal...

 This week of February 2026 thousands of students are graduating from over 30 universities in Uganda. I want to congratulate the finalists upon this milestone. This is because completing a university degree is not a small feat. To the parents and guardians of the graduates, I extend my appreciation for the brave act of paying tuition for the students from nursery up to university. A degree is a mark of resilience and determination that the student demonstrated during their time at university. Where as it is a moment of joy for the graduate it is also a period of transition and such seasons require careful attention and preparation. There are students who after graduation are privileged to get jobs immediately and there are those who are uncertain about what awaits them. One of the biggest fears of any graduate is the difficulty of getting a dignified job. I have been there and it is not a nice experience. What can a university graduate do after graduation? That is where the meaning...

 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...

 There is no perfect human being. The question that I want to pose is, why is it that when some working professionals make a mistake they dwell on it for long? I met a young professional who lost money in a scam several years back when he was still at university but up to now he points it out as the reason why he is not financially successful. Did we know that some of the most successful entrepreneurs in the world failed several times. Take an example of Thomas Edison who is said to have failed over 1000 times while developing a light bulb. Several of his critics advised him to quit but he had a different attitude. So many times the masses will advise us to quit since they do not understand what we are doing in the present. However that is not a reason to quit our good attempts. Take an example if one is determined to pay off debt but is in a group of people who discourage him or her that person is likely to give up. It is critical in this example that instead of the person dwellin...

 What explains one employee earning three times what another working professional is earning? There are several answers to this dilemma but the attention todays article is placed on the importance of asking the right questions. I have found out that the employees who earn thrice their counterparts are unafraid to ask questions. Some working professionals have applied for positions that are way beyond their qualifications and have been promoted simply because they dared to ask. In a knowledge based generation and with the advent of Artificial Intelligence, there are so many opportunities for making money but our education system does not train us to ask questions. We fear to sell our value thinking that our academic transcripts will do the talking for us. It seems that the courage to ask the right questions can open opportunities for mentorship and this enhances our opportunities to increase our value in the market place and improve our income generating opportunities. Most of the w...

 It is the desire of every working professional to widen their income base. A number of working professionals wake up every day to meet their financial aspirations. The major question is, is this easy? Probably not. The cost of living is increasing every day yet we have to survive. This calls for extra effort. It calls for brainstorming on ways through which we can widen our income base. A few days ago I happened to be part of a discussion where a group of young working professionals were discussing the challenges that they face in the competitive job market. One noted that the cost of living is high and his salary was not enough to meet the expenses. So in this case what is the solution to this predicament. Rather than suffer in silence it is a wise move to candidly discuss the solution. The solution to the financial shortfalls that working professionals face is widening their income base through passive income. Passive income is one that a working professional earns while not phy...

 Why is it that there are some working professionals who earn thrice what we earn? I believe with an intentional focus we can learn some clues from their journey and change our financial outcomes. Many times as working professionals we tend to stay in our comfort zone instead of exploring other means of widening our income. It is said that if we keep on doing the same things we shall always realize the same results. Today there are so many alternatives to life long learning. There are countless financial literacy programs that target individuals at work. These programs are meant to help us grow in the use of or finances and prepare for the uncertain future. The future is so unpredictable that it should be a signal to us never to be comfortable. I have seen many successful people seek mentorship from more successful working professionals. They do not allow to walk without guidance. This starts from developing a coachable or teachable attitude. No body knows it all in life and it is ...

 I spend a lot of time mentoring the youths who form the majority of the population in financial literacy and enterprise development. I should say that Uganda's youths are very enterprising and creative . However I have noted a growing trend about the misuse of personal funds. What explains a working professional who earns a lot of money but ends up struggling financially? There are so many factors that might lead to this and  some of them  are beyond our control such as some family emergencies. The focus of this article is on how our personal financial habits can sabotage our financial destiny. We have seen a number of sportsmen who used to earn a lot of money end up financially struggling after retirement simply because they did not take time to plan for their finances. The above shows that our financial journey can not be left to chance. We can not leave our financial decision making to the rest of society. We have seen working professionals who came from poor backgrou...