FINANCIAL LITERACY & PERSONAL DEVELOPMENT

 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 buildin...

 At a recent financial literacy training that I conducted for group leaders it was evident that no community is devoid of resources. The so many big financial institutions such as Equity Bank that started as a small building society and is now a financial conglomerate teaches us that without unity at the grassroot there cannot be meaningful development.  Over 70% of Uganda's population is below the age of 30 years. One of their biggest obstacle is lack of access to decent jobs and capital to grow their businesses. The youths of Uganda are very entrepreneurial and this is attested to globally. However most of their ventures collapse within one year. This means that community groups are a very good medium for mobilizing savings among the youths. Many youths can pool resources jointly and start income generating activities . Many youths are on online WhatsApp groups. These tend to discuss various issues ranging from finance to entrepreneurship. Perhaps it is high time the discuss...

 For the last 5 years of providing grassroot financial literacy training I should say that I have seen countless resilient Ugandans who are focused on altering their financial landscape for good.  Though life is never easy, so many Ugandans desire for a better life. Despite the hard economic circumstances ,a person with hope has a chance of making better financial decisions. There is one market vendor whom I met prior to the training who explained to me that she was in a financial mess. I listened intently to her story and gave her hope that she would overcome financial challenges.  This lady accepted to attend the financial literacy training and was very active in class. She accepted that she had previously made various mistakes and she started by writing down her financial goals. This was a moment of excitement for her. She set really big goals and always reported to me her progress. She started to pay off her loans slowly and today she is more confident than before. Sh...

 When the Black Americans were undergoing slave trade a certain Martin Luther King decided to choose a different path. When South Africa was undergoing apartheid the late Nelson Mandela chose a higher path. When Mother Teresa saw the suffering of the poor in Calcutta India, she chose to use her gift of compassion to serve them. These examples should inspire us to take action. Every day we see challenges around us. The issue is that we cannot solve all of them. The question is what are we doing about the challenges in our families and communities. There are many youths who lack a clear direction in their lives. Who is reaching out to them?  Very many youths have graduated and have no access to decent jobs, who is mentoring them so that they do not lose hope? We see rising incidents of crime especially among the youths. Who is reducing the gap? The knowledge that we acquire is not meant to benefit us individually but we should use it to transform our communities. I have talked t...

I read a story of a student of Kabale university who committed suicide. Losing a young soul is such a tragic incident to the parents, family, community and nation. One of the saddest moments of life is the ignorance of our life purpose. There is a gross abuse of potential among Uganda's youths. I normally interact with so many youths during the financial literacy trainings that I provide but I have realized that very many youths have a lot of potential but because many are unaware they grossly abuse it. On 24th May2025 there was a news headline in the New Vision that showed that a number of Uganda's youths were involved in gambling to the extent that many dropped out of school. Another incident was reported in Tororo District where a group of youths wanted to beat up staff of a certain betting company for failing to pay their returns. There seems to be a dominant trait among the youths that they deserve instant riches. Due to this desire for instant riches a number of them seek...

 Over 70% of Ugandans are below the age of 70 years . The youths have a lot of potential and are the future of Uganda. For the last 5 years I have been involved in grassroot financial literacy training that targets equipping knowledge ,skills and attitudes among the youths in relation to managing their finances. Financial literacy starts with responsibly managing personal finances. One of the key lessons that I have picked up during the financial literacy training is that some youths lack the knowledge and skills of handling their money effectively. There is a particular youth who lost his laptop to a loan shark after failing to pay the loan. Had this youth belonged to a savings group he would have been cushioned . Many youths up to university level live hand to mouth. This means they are vulnerable to external shocks .Many have no bank accounts in formal financial institutions and the little they possess is normally spent without a budget. This exposes these youths to financial st...

 We live in a generation of instant results. Instant food, instant success and movies. Where as I advocate for instant wealth creation, the question is , are we deviating from the laws of nature? For the past 5 years I have been training youths in financial literacy training. The good trait that I have found out is that Uganda's youths are very enterprising and energetic. However I have noted that there is a general tendency to disregard humble beginnings. A certain youth recently noted that he does not mind where he gets money from but what matters is whether he has the money. It seems money which does not have eyes or brain is making some youths lose their authentic identity.  The purpose of the article is to make the youths who form the majority in the country that humble beginnings are very important in building a strong foundation when it comes to amassing wealth. Wealth should also no be limited to physical cash. The wealthiest people in the world spend a lot of time re...