Helping The Youth Understand Personal Finance

Satisfaction Comes From Helping others

For a whole month now, I have been interacting with the youth in S.6 Vacation at Bugolobi Church. We have had an interesting talk on personal finance, the series ended yesterday and we dealt so much about habits and mindset change. The testimonies that came in yesterday were so amazing. These young guys are determined to do whatever it takes to improve in this area starting now.

Everything else is taught in school except financial literacy. I never had the opportunity of being taught about money, the only thing I would hear from my dad is that, "Money isn't picked from trees".

When we use the Jewish model of teaching the young people, we are preparing them for now and the future.

In his book, SMART MONEY, SMART KIDS, Dave Ramsey talks about a middle aged lady who walked up to him after he had just finished a seminar talk on Financial Peace. In this book he writes, 

" I’m sure as that first person—a middle-aged woman—walked up to the book table, she saw a young speaker relieved that his big speech was finished. I will never forget her comment. Holding my little book, she looked at me and said, “Dave, that was great information. Why don’t parents teach their children about money? Why don’t we teach basic money skills like this in schools? Our kids need to know this information.” "

Indeed Children, Youth, Young Adults are being taught everything else and this is one part that is almost forgotten. I believe that if we raise young people who are disciplined, corrupt tendencies will be dealt with, laziness will be dealt with etc

"From age five on, I operated on one general rule about making money: Work, get paid; don’t work, don’t get paid. That’s a basic principle that a lot of parents miss with their little kids. If a child can understand that money comes from work at age four, then she’ll be ready to hit the “real world” running at age twenty-four" -Rachel Cruze "

Nanjira Daphine, Awana Aitaa Carl Laban, Fortunate Ashabire, Joel Kadaya, Mich Mitchell are some of the young people I have had some good time with. They are already budgeting, planning, putting aside the little change, gaining skills like making bungles, T-shirts, etc

In the Picture, they were watching a short video by Myles Munroe 

Check out the video they were watching 

#Impact #Empower #Transform

Don't Stop Planning

It has been said before that if you don't plan for your money, someone else will. To get through life without a plan is just a big time tragedy.

Sometimes people will tell you, just live by faith or let life take it's course. There are so many things taking out money faster than it came in. If you don't put a front foot and have clear goals, make some sacrifices towards financial peace, then you will remain in the same pit of living from pay cheque to pay cheque or hand out to hand out.

The jobs we have keep us in limbo, we believe we are secure yet it isn't entirely true, you can be fired any time or fall sick and they can only go as far in taking care of you.

Many times you will not feel like leaving the job because it's the only source and hope you have. As you work put some money aside, have a long term plan, mind your business of becoming financially free as you work for someone or an organization.

People seek better jobs but also that is still tying yourself and freedom down, I have seen that on top of the list of job seekers that many of us are, we keep looking at a bigger bank account yet we remain in-disciplined in planning and being faithful with the little money, how sure you that more money means a better life. Remember that as money increases, those who spend it also increase, the banks will come running, you will desire a new car, a new apartment, better clothes, better this and that etc

Your Discipline is Key

Too many people skip the discipline and try to go straight to the enjoyment. That’s a recipe for disaster. That’s how so many people get hooked on playing the lottery or go broke in a horrible get-rich-quick scheme that falls apart. Wealth building is a marathon, not a sprint. There really aren’t any shortcuts. That’s why most people don’t do it; if building wealth were easy, everyone would be rich! - Dave Ramsey.

You can not get any far in your personal finance goals if you aren't disciplined. There is a lot of pain involved, a lot of falling and rising up, a lot of not hitting the targets, but you don't have to give up. Sometimes you will find that your money will get wiped out on a bad deal, you will probably be conned but all these become life lessons that make you wise, you don't have to lose sight of what you have to do to get where you believe you should be.

Keep Sacrificing

Without a sacrifice, you won't realize how important it is in getting you what you need. It could mean forgoing summer holidays to make sure you put off some money aside to buy land, invest in a mutual fund etc. Sacrifice many times will mean that your comfort will be disturbed. You can check out this link on  Make Those Sacrifices or Be Comfortable 

If you make some sacrifices, inject some discipline, and get intentional about winning with money, the future is wide open. You’ll be blown away at the opportunities you’ll have to serve and bless other people, and you’ll be amazed at what life feels like without worrying about money all the time. It’s a great place to be - Dave Ramsey

#Impact #Empower #Transform