FINANCIAL LITERACY & PERSONAL DEVELOPMENT

During my coaching class I was always trained by my tutor to have a learning mindset. This seems to be a very important life lesson. We all have areas of improvement. Unfortunately we are never aware of them or we ignore them. This can hinder our progress. It is even worse among the elite. Sometimes we have been blamed for over analyzing issues. As a financial literacy practitioner I have had a privilege of listening to so many  people's experiences regarding their financial journey. It is a humbling experience to see someone who started with their savings to start and grow a business. Did we know that there are other people who have a lot of money but they do not have the ideas where to invest the money. That is how strange the world is.  No body has all the answers to money issues. Money is a strange subject that if we take it lightly it may shock us. We have seen billionaires become bankrupt overnight. We have seen stock markets crash even after "market experts" pred...

 Did we know that we obtain a lot of our money habits from our family interactions? It may be a casual talk but it is serious. If in our families the issues of money were not talked about during our childhood we may find it tough to handle finances in our adulthood. If a child is beaten to death for stealing 200/= then when they grow up what do you expect them to be? I once saw an Indian bring their son to the bank to deposit money. This parent was mentoring their son about money issues from a young age. However I have met school going children who have been defrauded of their school fees near their banking halls. If a child heard statements like " life is very tough, money is a curse" from their parents such words many curtail their efforts while growing up.  The key issue here for parents is to make an intentional effort to mentor their children about money at a young age. This helps them to develop a healthy view about wealth creation and money management. Iam happy to no...

  John Maxwell noted that attitude determines altitude. When we closely analyze this statement it has a lot of relationship in our personal journey towards financial advancement. As a Financial literacy Trainer I have the privilege of interacting with several people especially the youths. One thing that I have observed that is that if we have wrong thoughts about money then our efforts towards elevating our finances may be jeopardized. For example a certain youth said they do not need a bank account. This statement speaks volumes about this person's attitude towards financial safety. By keeping money at home this person has unrestricted access towards it and he or she is likely to spend it. When some youths are invited for financial literacy trainings they view it as a waste of time. But I have observed that the most successful people are always attending workshops to get new knowledge on how to improve their finances. The financial landscape is fast evolving and we need new knowl...

A friend of mine wrote an article where he asked when they Google someone's name what comes up? It was an opportunity for me to evaluate and reflect on my impact on society. Indeed there are people who are long gone but up to now their names are still sound. These include the late Mahatma Gandhi, Mother Teresa, Nelson Mandela and Mwalimu Julius Nyerere. We have a lot to learn from these leaders. They used their gifts to serve the world. We remember Thomas Edison for being persistent and inventing the light build. There are others who are alive . We know John Maxwell as a leadership coach. We know Oprah Winfrey as a wealthy and media icon. We remember Tiger Woods for his golf expertise. We know Michael Jordan for basket ball. I have met a number of youths who are experts in knowing the most well paid footballers in the premier league and sometimes they even bet their hard earned money about these superstars . Iam not trying to undermine the youths but it is high time we reflected o...

 Money is a powerful currency and motivator in life. That is why most people wake up everyday to toil. However a close observation of people who have shaped the world in money matters is that they have learnt to control money. A case in point is Warren Buffet who is one of the wealthiest men in the world. Despite his level of wealth he is frugal in his expenditure. I believe we have something to learn from him. As a mentor of youths I have interacted with many of them and each has their own perspectives and behavior towards money. We live in a generation that is majorly wired to spending. A number of youths would prefer to spend what they have without taking effort to track their expenses. This is where problems start from. In real life an entrepreneur can start with any amount of money and end up building a big business. This kind of advocacy of starting small seems to be losing appeal. Rather what most youths want is to tell them how they can  become wealthy overnight. In fa...

  In the New Vision of 2nd December 2024 there was an article about youth unemployment in Uganda. It was stated that over 15% of Uganda's graduates are unemployed . Just a few months back another article in the New Vision showed that over 500,000 graduates were boda boda riders. These are critical facts that need interpretation for development actors from across the board. As a mentor of so many youths who form the biggest percentage of the population (over 70% of the population is below 30 years). I have been at universities and spoken to a number of youths and I admit that they have potential for positive transformation. A number of youths have started social enterprises that are addressing social challenges and are employing several youths. Despite the several challenges they are marching on. Indeed as the Chinese say that wherever there is a crisis there is an equivalent opportunity. Perhaps the high statistics of youth unemployment give us an opportunity to reflect on how we ...

 We are at a crossroads as a nation. Many youths are unemployed and statistics are not very much in our favor. In the New Vision of 2nd December 2024 it was reported that over 15% of graduates are unemployed. It was reported that over 400,000 graduates are produced per year amidst a job creation rate of 90,000 jobs. Indeed it is a major concern for various stakeholders such as government and other stakeholders and that is why various reforms are being made. The National Planning Authority revealed that Uganda's skills match exacerbates unemployment with graduates often unprepared  for the labor market. I normally have a privilege of interacting with the university students and I should admit that they are full of potential . However our concern is what awaits them after graduation? In fact after graduation some of them are totally stuck and this state of affairs requires attention. We need to note that over 70% pf Ugandans are below 30 years and a youthful population is an ass...