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Monday, 2 February 2015

Empowering People With Financial Skills

Excerpt from an Article I wrote on December 11, 2014 on the N-Trust Investments Financial School
Here is it's Facebook group that you can join 
https://www.facebook.com/groups/NTRUSTIVESTMENTS/

This becoming even more necessary and everyone who gets an opportunity should seek to learn [Learning never stops].
This morning I met 2 security guards around Wandegeya. I asked them why they do sports betting [Gambling] and they said, "You know us guards don't get much" and it can take us a while however we save part of the money we get from the bets.
However I told them that if they managed their finances well and put it into investments that can grow, then they can be able to build some wealth. I gave them an example of how I used to save coins and made about 500k at a certain point.
But they said that in the gambling they do, if they put 1000 ugx and got 40,000 ugx then that's not a bad deal and that they try to save it too but still I asked where they put the money or if they have surely gotten anything out of it. I told them that they have become addicted and it is not good for them, it is not the right way to make money because they need a quick money or get rich quick. I asked them what they would teach their children in regard to finances, because what they do now will most definitely affect also their children.
I gave them a few stories of mine and told them not to look at gambling like climbing a mango tree. Because one of them said that if you climb a mango tree and fall, you can go back, but i told them the mangoes come in a particular season too and that the tree is fixed in the compound, This just showed me there is a great need for continuous empowerment, some people even haven't heard or been taught how to manage finances however small they are. I encouraged them and told them it is possible to change their mindsets, live within their means, save and invest event though it means putting little a side, it can make a difference. I still remember in prayer they taught us "One by One makes a Bundle".
The culture of saving, investing I guess needs serious resurrection otherwise our economy will keep suffering if people are not enlightened.
The Scripture says in Proverbs 21:20 [KJV] There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up. [NIV] "The wise store up choice food and olive oil, but fools gulp theirs down."
Here is what Justice Sebutinde had to say in this news journal The wise store up choice food and olive oil, but fools gulp theirs down.http://www.newvision.co.ug/…/662708-justice-sebutinde-calls…

3 comments:

  1. how timely this word/ message is; a friend of mine started up a business but was never taught financial skills and therefore can`t do proper book keeping. So i believe people need to be financial literacy.

    ReplyDelete
    Replies
    1. Amen, am also a student of these things i share.

      Delete
  2. The sebutinde article is very insightrul too and re-echoes the need for financial and literacy skills...these skills must be taught from an early age.

    ReplyDelete

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