Very few Ugandans are confident in their financial situation ~ Finscope Report(2023)

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By Arthur Moses Opio

I kept asking myself whether I should pen this down or not. Let me start with this question, "Are you confident in your financial situation?” For me, my answer is a straight NO and it’s down to many factors. A majority of the factors are external and being in what Kiyosaki termed the rat race just makes it even worse. 

The Finsope report I have been reading says, 

"Very few Ugandans are confident in their financial situation. Only 11% are satisfied with their financial situation. 60% of adult Ugandans are not confident in their financial plans for old age.”

These are some of the things that breed low confidence in the financial situation many of us are in [Some Excerpts Are From The Book, How To Secure Your Financial Future by Dr. Sunday Adelaja]

1. Lack of financial education(Education system designed to only create employees): We have gone through school and many of us have never had a curriculum about money. In fact we know too few things about money that when the topic is raised, it is a taboo.
2. We are looking for miracles (We even have to sow seeds to twist the arm of God): Don’t get me wrong miracles do happen but more than ever, we need people to know that it’s through diligence and working (exchanging your time or skills for an income) that many of us have to embody. We might argue and say, ah! My family and friends have got my back. How long can that be sustained? Emergencies keep coming.
3. We have financial goals but many of them are not clear, they are vague: e.g I want to earn 10m, how can that happen if it’s not specific. We have no strong reasons to even backup why we need the 10m. 
4. We don’t pay ourselves: When we get paid, we pay everyone else but ourselves. The solution is to put yourself on the payroll.
5. We are not part of a supportive environment: Our environments determine a lot how we interact with this money thing. So many years ago, a colleague pushed me to get a loan but I got denied. No one was pushing me to invest but I was just being told, since you earn a salary you can get a loan but for what.
6. The world system is a trap in itself - Imagine, we try so much to keep up like the Jones, David’s and Michael’s: We have basically bench marked our lives against so and so, it’s even worse if they are on social media and we don’t know them personally. I imagine the village man has less money pressures, he can’t go homeless because he has built his hut but here in the city where we can’t grow food, you pay for almost everything, without money, life sacks,  in the US, people go homeless.
7. Celebrities: We have a dominant culture that celebrate Celebrities. In the previous years, everyone wanted to be like Mike, so we were sold AIR Jordans and to have one was to show that you have arrived. DSA says, "Advertisers and companies parade them and use them to sell products. They know the culture has esteemed these athletes so much, everybody wants to be like them. Advertisers have used campaigns like “BE LIKE MIKE” to sell us shoes and other products because they knew people wanted to be like the legendary American basketball player Michael Jordan. Even entrepreneurs who have made billions within 5 to 10 years are constantly in the news. We are always told how much they are worth and the size of the companies they have built. They have superstar status around the world. They are ranked in world famous magazines such as Forbes in order of their wealth; the one with the highest net worth is ranked first. As a result, many people are living for achievements, to make money so that they too can be celebrated.”
8. Debt Trap: The argument of debt is not one many of us can win. Yours truly was educated through loans and I think the gist of the matter comes down to management. I would argue not to go for it unless you are getting to top up on something you have already started and need a boost but I might be wrong and stand to be corrected. I just know debt can be one huge trap. Banks are aggressive in Marketing debt products. To wed, there are now loans ready to be quickly cashed in. I will share a few stats on debt later on.

We need to do soul searching to help us in this area. If only 11% of Ugandans are confident of their financial situation then how about the 89%. Many of us are in the 89% bracket but the good news is the knowledge is there. Over the weekend while having a chat with a couple, one of them remarked and said, "I have the plans, the only problem has been execution. What I learn from your talk is that I must get out and execute."

I once learnt that, "The only way to permanently change the temperature in the room," said T. Harv Eker, "is to reset the thermostat. In the same way, the only way to change your level of financial success ‘permanently’ is to reset your financial thermostat.”

I got a message from a follower on X and this is what he said,

"I am grateful for your guidance into @XenoUganda. I have experienced growth personally and with my family on the values of savings and investment. Not only me, but My friends and relatives are Learning with me as well"

How we respond to external factors is also key in developing confidence. The stoic Marcus Aurelius says, "You have power over your mind, not outside events. Realise this, and you will find strength." - It is also written in the scripture, "As a man thinks so is he." So yes, we can only control our mind. Like my friend who decided to ask about Xeno, learn and start investing, his testimony is clear that he has experienced growth.

So let us build our financial confidence by reseting, by dealing with the root not the fruit. Let God guide you and I as we do our self reflection.

Why is a school child taught about bank accounts but not about investment accounts? asked Alex Kakande

By Arthur Moses Opio

An apple doesn't fall far from the tree. We are the by product of our upbringing and environment. We can't go beyond what we have been exposed to. If I grew with parent's talking about money in negative ways or just always complaining about how scarce or hard it is to make or even grow - that's what I will carry with all my life.

Alex Kakande recently wrote an article about a dream he has, he started by saying, 

"I have a dream that someday Uganda will transition to an investment-centric society. For an extended period, this nation has thrived on the spirit of entrepreneurship, which is commendable."

"My dream is to witness the growth of our capital markets, not through the participation of a mere 100,000 -200,000 individuals currently in the Capital Market Space, but to grow it to 1 Million people, 5 Million plus Ugandans." 

Alex further said, 

"We need to initiate a paradigm shift towards investment. If an individual aspires to open a salon, they could alternatively purchase a stake in a thriving salon instead of starting from scratch. We need to embrace an investment mindset that appreciates the merits of shared risk, injecting capital into existing businesses, and discussing annual returns."

I responded to his article in the comment section and said, "Alex you have spoken well." You have said and I quote, 

"It is sad to see people well-versed in betting, yet ignorant about buying shares of companies like MTN, Airtel, Stanbic, Bank of Baroda, Dfcu, and others. If people can risk their money in betting, why not in purchasing shares?"

The question then is what is the root cause of all this misalignment? 

Why can't people have a change of mindset?

We all have a financial blueprint and our environments have a strong bearing on how we think and interact with money. From childhood, we have been told money is evil, rich people are evil, you can't have a lot of money and be good, etc. In school we were never taught about money except about cost or buying staff but nothing to do with investment. So we don't have that in our blueprint. Someone earns money and they first thing they think of is spending, they are hooked by the "Shiny Object Syndrome." Some have the Diderot effect, it's something that disturbs them. Some want to play the status game and not the wealth game. Some keep complaining, that life just happens while a wealthy person thinks totally different and says, "I create my life."

In schools, A is still for Apple and not for Asset, B is still for Ball and not for Bonds, C is still for Car and not Capital or Compound Interest, D is still for Dog and not Dividends. With such a curriculum, what do we expect?

All this stuff is by design, our poverty is by design, our mindsets are for consumption and that's by design. The poorer the person, the easier they can be controlled, someone still says, "I want my money where I can see it." That's by design. Our parents were limited to such education, the media can't give the knowledge on Unit Trusts and Bonds the airplay they deserve. Banks that have the money for adverts continue to dominate the airspace, they are always in our faces and what comes to mind first is to have a bank account and not an investment account. 

What you and many others are doing is going to awaken everyone. 

The conversation on money is best taught by the parent at the dinner table or on the way to school because the parent will have the vested interest but parents need financial education - this financial education is key to our problems.

If the boda boda man or builder can even grasp a little bit of this, we can continue to see great take up of these products. It has to be deliberate and intentional but the miseducation is by design, unit trusts continue to take the banks customers and it's now a massive issue.

I trust as we all contribute to the space, we will continue to grow the numbers and ensure this dream is achieved. Every parent reading this article should not only have a bank account but also an investment account for themselves and their children. Monkey see monkey do, we can't preach what we don't practice.

Jaspreet Singh once said, "We can all be investors by owning a share of a company not necessarily starting one." So this speaks to what you are alluding to.

Resolve To Succeed Financially: I now have knowledge I am not poor anymore said Amos Wekesa

Photo by From YouTube

 By Arthur Moses Opio

"If you are resolutely determined to make a lawyer of yourself, the thing is more than half done already... Always bear in mind that your own resolution to succeed is more important than any other one thing." ~ Abraham Lincoln

A friend of mine called Moses Isiagi resolved he was going to do his Masters in University of Cape Town in South Africa. With that resolve, he kept applying and one day, he tells us, I have gotten an offer, I have been accepted. 

The daunting task now was the money for fees, ticket and many other things. For him, the key thing was to get there. He talked to a few friends and some money was raised. To cut the long story short. He found his way to South Africa, studied and graduated and is now pursuing a PhD. The journey wasn't an easy one, there were so many ups and downs, tough nights, brokenness, etc. but that did not break him, instead it gave him to momentum to resilient to achieve his dream.

The above quote from Abraham Lincoln to a young man who asked how he could become a lawyer is so profound. 

"Your own resolution to succeed is more important than any other one thing". Nothing gets going until we resolve to get started. The inner determination to say, I have what it takes to build this dream is the first step in ensuring the vision or dream gets started. 

While listening to a TikTok video with the handle @cleaningtheairwaves that has been making rounds on social media, I couldn't hold back but put this excerpt into this article as it speaks to the topic of resolve. 

The interviewee Rinah Hicks said, "It will help you so we started that journey how did you identify what do we do and he’d come we sit we talk and he would bring 2000. The first amount he bought was 5000. He used to earn part time I think when he came here, he had earned 19,000 shillings and he gave us 5000 to start his journey. He started his journey and I worked with him for four years. After four years I had grown and moved into a different department and I handed him over to a friend of mine. 2011 Richie now I am approving payments I’m now in operations and I see his a check and a request for payment and I see his name on this thing and it’s 2.4 million shillings. I called him, "Please can we have coffee? Like how did we get here. So what are you asking me? I was consistent sometimes it was 2000 sometimes it was 5000 and then I got to a job and then I just continued." This guy used to eat chapati dondo  once a day just so that he would save money but he remained super consistent. I asked myself, "My darling sister what is in your account at this point in time and I realized I had messed up again because I took it for granted what I had." And he told me he was putting a down payment for an office at Crawford Business Park. I am like what, "So he put his down payment, got a loan for the balance and he rented out and I think now he has paid it off but he has continued to be consistent to this day. Those days he was 2000, 5000, 10000 now it's 100,000 every month. Let me just tell you that one client is the reason I have money wise, one of the reasons.""

Dave Ramsey says, "Your income is your most important wealth building tool." Following through with the story Rinah shared of the man who said he was consistent and continues to be to this day. It seems he knew or knows something about using his income as seed to grow and produce more seeds. He invested, bought an apartment, the apartment continues to give him rent and he continues to invest? What have you resolved to do? 

My first job was as a cleaner. I was earning 10 dollars a month - Amos Wekesa

Amos Wekesa once said, "When I started doing business, it's about 5/6 years, every time my mother looked at me, she could shed tears. It's not until 5 or 6 years ago that she opened up. When I was born she was so poor that she contemplated killing me. She planned to kill me on a Friday not because she did not like me but because the conditions were very difficult for her." Let that sink in, poverty can be that bad, it can make us think of doing crazy things.

I watched the interview between Amos Wekesa and Wode Maya and learnt quite a number of things, he said, "I hadn't eaten meat for so many years, I looked old but I was not that old. I went and served meat and I remember walking home and I cried and told God, 'Why did you make me so poor?' that even meat is such an important thing and that day I made a renewal of my life and that if I get a chance, I will work so hard and my dream was to work so hard to eat a lot of meat."

Today Amos is the face of Tourism in Uganda, he founded PELA commodities to produce grain and he continues to pioneer in many areas in his life. His resolve to work so hard can be seen with the results of his great works through Great Lakes Safari Lodges, Elephant Plains lodge,  Primate Lodge Kibale, Budongo Eco Lodge, Simba Safari Camp, MV Kazinga (boat cruise).

"I understand poverty. I have first hand experience with poverty.  Poverty is very demeaning" says Amos Wekesa. "When we were born, I hardly ate chicken. When I came to Kampala, I went to a slum and I was paying less than 2 dollars. I had this land lady from Hell. She would go and drink and come at 3AM tell me how poor I was."

"My first job was as a cleaner. I was earning 10 dollars a month. I never used to use a car. I would walk 20kms for 3 hours, that was my normal life, I never used to question it but it was also hard, I went to a good school for A-levels, most of my classmates went to University and to be honest it was one of the toughest times finding my former school mates and trying to say, 'hello' some of them would see me from far and cross the road." Amos further says, "One thing I have discovered about life is that once you have done your best in the small job you have been given, the voice will be clear that it is time to move on. But if you go to a job and complain, you will not hear that voice. There is a lady who used to make me katoogo of beans and cassava, I would go home boil and take 3/4 in the evening and 1/4 in the morning. That was my life, from Monday to Monday because I couldn't afford anything."

"For my third job, I became a Tour guide." says Amos Wekesa, "That's when I discovered my gift." I guided the dutch people and I was earning 1 dollar a day and God is my witness, "For my first trip we were doing a camping trip and I guided these guys for15 days, my boss gave me 1,000 Uganda Shillings. I sat in the car and I cried and I said man, after 15 days."

Cutting Water Melon Story: Resolved To Never Ever Be Poor Again

Amos says, " The last day, we had bought watermelon from Lake Bunyonyi. The Tourists asked my boss, 'Why aren't you giving guys something to cut watermelon?' I remember the boss saying, ''You see that guy, I am paying him almost nothing but he can never do better than this in his life. That day In front of Tourists, 'I stood up and I said, but in my life, I will never ever work for you again and I can promise you, I will never ever be poor, I am leaving you today and I will never work for you again. I am just tired of the same stories. The tourists were shocked, they knew I was poor, 'I said No! I now have knowledge I am not poor anymore, I knew my gift and I knew I  was good with tourists and with Tourism as a subject. I went and got my last job where I was a desk guy and earning 35 dollars a month.' So I worked for a year and saved up 200 dollars. On 22nd April, 2001, I registered for Great Lakes Safaris. and 23rd April, 2001 I started Great Lakes Safaris. I looked out for opportunities for weddings on Thursdays, I would show them I have cars for weddings. I would make 5 or 10 dollars. Everyday by 6AM, I would be at the washing bay to make sure the cars were clean and I hand them over for 9 months and that's what made me survive, then I saved up for my first office under a stair case. It was a good location. My first employee was earning 20 dollars a month but it was hard and many voices kept coming."

We all know who Amos Wekesa is. His story highlights how he resolved against all odds to not be poor ever again, this reminds me of a story of a lady called Lisa Nichols echoed a similar statement, “I will never be broke again”. 

We must resolve, that's the starting point. You can tell yourself, "I will save 5, 10, 20m in one year, I will reach half a billion by 40, I will save and invest 'x' amount of money every month, I will study financial education so that I can make better money and investment decisions, etc."

In the interview Amos shares a line that says, "When I think about poverty and how much I went through poverty, I do not waste any resource that I get as a person. In fact, a day of a hungry man, should be a day of inspiration for him."

Abraham Lincolns Story:

Digging a little deeper into the story of Lincoln, From his book, "How To Develop Self Confidence and Influence People by Speaking." Dale writes, "Lincoln walked to borrow every book within fifty miles of his home. Log fire was kept all night in his cabin sometimes he read by the light of the fire. As soon as it was light enough to read in the morning, he rolled over his bed of leaves, rubbed his eyes, pulled out a book, and began devouring it."

We wonder why Lincoln had some of the best speeches but it goes back to his resolve, determination and thirst for knowledge. If he could walk within fifty miles to read, have a log fire to read, wake up and read, then what he pictured himself becoming allowed him to embrace the pain of the process.

How do the above insights and stories from my friend who went to study in SA and Lincoln speak to us about our personal finance. Some people sit back thinking it's too hard to attain what the high fliers are attaining. The high flyers are up there because they went an extra mile. They did not just stop at believing or saying, "I wanted to be wealthy." They acted on their dreams inspite of the hardships they faced. 

• It is possible to get out of debt, you must resolve;
• It is possible to start investing and living a debt free life but you must resolve.
• It is possible to attain any kind of education without excuse but you must resolve.
• It is possible to fund that dream, company, factory from your savings and investments but you must resolve.

 “Fuss has never led anyone to success.” says Julian Wilson. With your determination and plan, get yourself rolling. As Amos Wekesa kept growing, he kept saving and investing for his next goal just like he did to register his company, to rent his first office space under a stair case, to buy his first car for business, etc. 

I conclude this by rechoing what Amos said when he resolved he would never be poor again, He said, "I said No! I now have knowledge I am not poor anymore, I knew my gift and I knew I  was good with tourists and with Tourism as a subject."

We can see from his experiences, he kept gathering knowledge and every experience contributed to his growth. Knowledge is important and many people perish for lack of it. This applies to any discipline including financial education. Dr. Sunday Adelaja says,"Your pocket might be empty today, but if your mind is filled up, then you are not poor. It is just a matter of time before your filled mind will cause your pocket to be filled up." and Benjamin Franklin says, "Take the money out of your pocket and put it in your mind."

Let us resolve to be great and grow in our financial knowledge because as Abraham Lincoln told the young lawyer, "Your own resolution to succeed is more important than any other one thing." Those who learn, earn. Resolve today to get that big hairy financial goal. Resolve to have financial peace, freedom, investments, etc.

Peril of Poor Money Management: I Was Careless and Foolish

Photo by John Moeses Bauan on Unsplash

"Wealthy people manage money well while poor people mismanage money well." ~ T. Harv Ever

Not managing money well can make life as hard as a rock. Joshua not real name always took a lazyfe approach towards the things he did in life including money management. He often received money, used it without planning or accounting for it. He never tracked his money to know what he spent on. He got a good paying job and he was their accountant. The job of an accountant comes with a lot of responsibility. To cut the long story short, his bad habits of poor money management at an individual level got the best of him. At some point he couldn't account for company funds, this made him lose his job. The job loss was one of the hardest things that happened to him. It was a wake up call and he had to go through rewiring and reprogramming his financial habits and mindset.

Isaac a friend to a friend always says, “I am never with money even when salary comes in, it goes quickly without any major developments.” All this points to his financial management. Is it an upbringing issue or stubbornness?

When T. Harv Eker says, "Wealthy people manage money well while poor people mismanage money well," he is speaking of a high level financial skill and money mindset that we all need to have. 

Our mindsets and habits have been wired by what we have heard, seen or specific incidents that have happened to us from childhood. We need awareness, understanding, reprogramming and reconditioning to make great changes. Money management cannot change unless we change.

Two Stories: Callie and William

From his book Poverty Mindset vs Abundance Mindset, Dr. Sunday Adelaja shares a story of Callie Rogers. She was Britain’s youngest-ever lottery winner who wasted away her money on drugs, booze and cosmetic surgery. It is said, she became so depressed, she even (allegedly) attempted suicide three times. Adelaja writes, "Rogers was introduced to cocaine by a boyfriend and spent over $400,000 on the drug in six years before getting clean. She also got breast implants, fancy cars and more. Rogers was so broke, she could not even afford to have favorite gift for just 99 cents! Now that Rogers is broke, she’s back home living with her parents and works as a maid." 

Adelaja shares another story about William “Bud” Post: He writes, "You would think winning the lottery for $16.2 million would be a dream come true. But like almost every other case, it soon turned into hell on earth. William “Bud” Post had just $2.46 in his bank account. He just finished serving 28 days prison term. To afford lottery ticket, Post sold a ring for $40 and purchased 40 lotto tickets. Two weeks after winning, Post went on a spending spree... spending more than $300,000 on buying a restaurant, a used-car lot and an airplane. William “Bud” Post died 18 years after his big win. He admitted he was both careless and foolish, trying to please his family. He eventually declared bankruptcy and died with over a million dollars indebtedness. He allegedly remarked that “I was much happier when I was broke.”

With those two stories with sad endings, money management must be over emphasised and one must understand what money is, know their financial blueprint to avoid having such endings.

Have a System

For people who manage money well. One of the key things they have is a system. James Clear shares from his book Atomic Habits and says,  "We don't rise to the level of our goals but we fall to the level of our systems."

A system is very important in ensuring we have the blueprint or the foundation to enable us build the house or houses that will last for years to come.

In his book System Building: The key to resolving every problem and attaining every goal Dr. Sunday Adelaja says, "The lack of understanding of a systematic approach to resolving different problems makes a majority of us attempt to use our strengths to solve every problem that comes our way but always fail. As a result, we stupidly waste our energy, we get tired frequently, disillusioned, and depressed by our low results and general inefficiency in life."Often, this kind of life leads to nervous stress and negative effects on our health.

Relating this to money management. The ANTS have a system and in their system they know there is summer where they do the harvest and winter where there is no activity. It is written they have no ruler, governor but they work together to ensure they gather and store. What do you do in your earning years/time? When Joseph knew there would be 7 years of famine, he was made governor and asked for a fifth of the produce(20%). It is prudent for you to set your financial system in order in this year 2024. Could it be the 50/30/20 rule? Whatever it is, have a system.

It is important to know how you are going to earn, save, invest, budget, track expenditures and give to the people who will need it. 

Some people only have a system/blueprint of spending. Whatever money they earn, they are thinking about the next hangout, party, clothes, shoes, car, etc. Paul Busharizi says, "If your spending was biased towards consumption and away from investment, you are barely making ends meet, regardless of your salary. If on the other hand your spending was biased towards investment and away from spending, you probably are better off than the average person around you."

This reminds me of Proverbs 21:20 - "The wise have wealth and luxury but fools spend whatever they get." As part of your money management, your desire should be to have wealth and how do we get wealth, it comes through investing. 

In your system, investing must be part of it just like we are taught in the parable of the talents. If you want to be the fool who mismanages money well, it's written that as the money comes in it gets out fast, its spent in every way possible. 

Don't be a fool. William "Bud" Post said, "I was careless and foolish." Be wise. Your wisdom will reward you.

Paul Busharizi says, "Eating our money provides instant gratification and also has the added bonus of making us “look” rich. While investing our money, not only will the benefits come sometime down the road but also chances are people will not know about it and therefore will not know that we are rich."

In his book the Psychology of money, Morgan Housel says that, "Wealth is hidden, it is not seen." There are so many people who are flamboyantly buying this and that to try and show off and they following every one who posts things on social media, you are keeping up with the Joneses but your pocket is not keeping up with them, You are broke! and you will continue to be broke and it will show even in your latter years. Paul says, "While investing our money, not only will the benefits come sometime down the road but also chances are people will not know about it and therefore will not know that we are rich."

You have to ensure that instant gratification is dealt with, not trying to show off because who cares, just care about yourself and do the right things to cater for your future. 

In his book Things Fall Apart, Chinua Achebe says,  

"He always said that whenever he saw a dead man's mouth, he saw the folly of not eating what one had in one's life time. Unoka was, of course, a debtor and owed every neighbour some money, from a few cowries to quite substantial amounts."

Don't be like UNOKA, he was;

• Lazy
• Poor and couldn't provide for his family
• Heavily indebted.

"In his day he was lazy and improvident and was quite incapable of thinking about tomorrow. If any money came his way, It seldom did, he immediately bought gourds of palm-wine."

Manage your money well. The end is predictable. The wise have wealth and luxury while fools have nothing(they spend whatever they get.) 

What Are Your Financial Emergency Tools

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Life has taught us so many things and we continue to discover so much more every day. The beauty about life is that there is no quick-fix solution to everyday problems but there are universal principles that can be applied.

Whoever owns and drives a car, in their boot their are tools that are needed for any emergency that occurs. Often for a properly set car, the boot will have a car jack, wheel spanner, spare tyre, toolbox, etc. The manufacturer of the car doesn't put those things in there for decoration, they all have a purpose and when in need, they come in handy.

Whenever you travel, travellers have key things they must carry while travelling, things like a first Aid box, extra clothes, extra cash, these days power banks for smartphones is very handy. While travelling by water, a life jacket is a must kit to have, there are extras for an emergency, for big ships, there are lifeboats that are tacked somewhere for an emergency.

We learn that you have to envisage that the road will not always be smooth even if you have always had a good drive or sail, those emergency tools are a must-have and it can't be taken for granted even if a serious incident hasn't happened.

When it comes to personal finance, we are often told to have emergency funds. An emergency fund is purposely for emergencies, it isn't for saving or even making money out of it. Sudden times like the COVID pandemic can come unannounced, it could take longer than expected, but the funds could help in such period, even sudden sickness, accidents, etc

Purpose To build an emergency fund that can take you through 3 to 6 months expenses as recommended by many financial experts, You can start by putting away 10% of your earnings towards emergency, be wise like the car manufacturers, you can drive and get a puncture, the spare tyre comes in handy until the original tyre is fixed, we need to be wise and do the same too even with our personal finances - Have an emergency fund.

It feels very uncomfortable to do such rudimentary things, but the road ahead doesn't spare anyone, you are better off prepared than ill-prepared. This is the rule of life, “Do the easy and comfortable and life will be difficult, do the difficult and uncomfortable and life will be easier”

#Transform #Impact #Empower

The Mindset To Start All Over Again When It Seems Uncertain

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Dear Readers,

"It is never too late to be who you might have been" 

- George Eliot

A happy new month to you all.

As we start the month of July, some of the greatest things in mind are How can we tackle Ignorance when it comes to Financial Literacy? How can we start small ventures with what we have? How can we sail through the COVID19 storm by beginning all over? I will be documenting some great articles to give us insight on a few things. I will share some videos as well. If you also have an insight, please feel free to share, comment, etc. Let us rally ourselves to become better with our finances, seek financial peace, build empires from scratch, and win in this area. We can not let ignorance rob us of financial well being.

I remember telling myself there are things I need to own by a certain age but it took a little longer, I remember thinking that after leaving University, I would easily get a job but that did not happen, I had to do other things as I prepped for them jobs, as I grow older, I get to realize what is even more important is how I use the resources I have to do other ventures. Things have never come that easy for me, you could be like me too and there are stories we can learn from you. But every day was a new day to press on, try something new and all those are valuable lessons for life.

I remember losing some good money to fake land purchase and it set me back but because I had the principles that I had harnessed over time, I started all over again.

One of my properties was also sold off without my permission and I had to give it up but start all over.

I lost an opportunity to get property worth some good amount of money and the money was diverted to other things, that fired me up to know that hey! my future is in my hands and I will have to work hard for my own stuff.

I remember being told by a relative, that you can not develop without a loan but I purposed to beat those odds, I purposed to try out doing something without a loan, as a matter of fact, my bank turned down my loan request and that pushed me to tighten my belt for 3 years without touching a particular saving I put aside. I told myself, "I can do it and did everything possible to walk that journey", it was painful, not easy at all, lots of sacrifices had to be made.

Can you change your mindset to start all over, can you build the mental fortitude to leave what is in the past and press on to what is new? Every failure has been a school of hard knocks for me because

I have picked the lessons and used them to get better.

When it comes to Children, Have you done anything in regards to planning school fees? It is tough when a child can't eat, can't have good shelter, can't get medical care, good education or even basic clothing these are deep-seated questions we need to tackle even when income comes in an irregular way. Hard times can fall on us suddenly and the wisdom God gives us when he tells us to study the life of Ants is that they are always preparing, always gathering for winter.

I have read some amazing articles, books and also watched videos that make my heart race, and in the words of Solomon, I would rather be rebuked by a wise man than praised by a fool.

When I read things like it is not the amount of money that counts but the plan, it makes me think twice how to use money.

I remember saying to my mentor, 'If I had more money, I would have a better plan.' He quickly responded, 'I would suggest that if you had a better plan, you would have more money.' You see, it's not the amount that counts; it's the plan that counts. - Jim Rohn

What's your plan? so let us make do and start all over, let us read on and most especially use the knowledge we will get. Allow yourself to be a beginner

God bless you all.

Happy New Month

#Transform #Impact #Empower