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

Be Wealthy and Near To Humanity, Not Wealthy and Far From Humanity

Image by Paolo Trabattoni from Pixabay 

Overtime we have seen people who have made it from rag to serious riches. The story of how their wealth has been made is clear and well documented. Many of these wealthy people have practiced well known principles of hard-work, delayed gratification, investment, etc. And yes they are living the life that money people crave to have.

Along their journeys of either growing wealth or being born in it, some choose to remain humble while others choose to live a life that is full of pride. They tend to close out or help humanity, whatever their choice is, it is at their discretion. 

I listened to this mind boggling video and Chris Ryan, the author of 'Civilized to Death: The price of progress' says that Rich people have the tendency to distance themselves from people because pf their wealth differential. In this video he mentions quite a number of things that will cause you to "Think". 

The nicest thing a wealthy person can do is to welcome people, accommodate them, share their knowledge, open their hearts, share a meal with those who they say of of low status, guide, impart, empower, and transform their lives. 

I recently had a chat with my wife and we were talking about a story that has been shared countless times on WhatsApp forums. The story is about a rich man who used to give his condolences (money, here in Uganda, we call it "Mabugo") instead of going for a funeral. His money would speak for him. One day he lost someone and his gate was wide open and no one entered, the locals decided to do the same thing he always did, they sent their "Mabugo-Condolence money" instead of going to mourn with him. Why did they do that? instead of walk through his gate. This kind of alienation brings about Isolation, when it is time for mourning, more than ever we need humanity more than money. 

It is written that it is better to be in the house of mourning than of laughter. In times of pain, people need a touch, words of kindness and comfort, they need warmth more than the material resources we send them and above all they need is "You"- 

People comfort better than money does, people have feelings, money doesn't. People understand, money doesn't, it only facilitates many processes, as you give money, give more of yourself. 

My encouragement to someone out there reading this is that as you grow, don't be far from humanity be close to it. Theodore Roosevelt once said, that, "No one cares how much you know until they know how much you care"

#Transform #Impact #Empower

4 lessons I learned from not getting a salary for 3 months

Image by mohamed Hassan from Pixabay 

One of the greatest fears we have as men and women is the fear of not being able to provide for our families. In today's world, one of the toughest things to be is a "Salary Earner" and that is because the only means of survival is that paycheck at the end of the month. With COVID19, we have seen how there have been news on many WhatsApp groups that some companies or institutions were going to pay salaries for certain months, such news can be devastating especially if it is the only means of survival. 

I know how it has been written that you can never grow wealth only on Salary, I totally agree but I also know it is the starting point for very many people. 

Even the ones who start SMEs or business ventures on the side, somehow they need employees, whom they will need to pay a salary, but yeah Salary Alone Isn't Enough, It's only too bad that the employer will be the one benefiting from the employee, so the onus is on the employee to know when and how to use their time as an employee effectively.

Many men and women towards the end of the month wait for that beep on their phone, if the money delays, that is the cause for stress because the demands that also keep coming in all need money to facilitate the processes. It is dangerous not to receive money you expect. At one point wifey is saying, "We need this", the children are saying they need to go swimming, etc. and all those queries need money to facilitate the process.

It isn't so long when yours truly had an experience of no salary for about 3 months. It was an interesting experience because hey! I did learn a ton of lessons. The experience I had was like that of someone who is so used to getting something and then all of a sudden it is no more. It's like knowing in Uganda we shall always have food then suddenly famine befalls us for way longer than expected. It is like a child waiting for their favorite dish but they have to go along with baked beans or porridge without sugar.

These are the four things I learned.

1. A day will come when the Salary Job will be no more, it could be at retirement time or during the process of my lifetime

With this in mind, you always have to work planning your exit or knowing that the system will kick you out when you reach a certain age. When you still have the opportunity to make the money and you are still young, this is when you can afford to venture into something, you shouldn't have to be afraid to make mistakes because in any case how will you learn. By the time you retire, you shouldn't be asking yourself what you should do with the money you will have got, you will be probably boosting what you already have. You just can't do certain mistakes when you are of age. So do something now. If it's putting up those rental units, this is the time, not when you are retired or about to retire.

2. If the job is no more, can I live and sustain the kind of lifestyle I desire

We always have a certain lifestyle we live in. When the job is no more, can you still live the way you have been living? If you don't have other income streams bringing the same amount of money or more, you won't be able to sustain, you will only have to cut or scale down your life.

3. The bills will keep coming and they need to get cleared

I realized that I had to pay bills, yes salary wasn't coming but the bills were, so this forced me to think and do something that could enable me to get money. I started a business of selling trays of eggs to people within my circle and I also signed up for Uber, so I became an uber driver. 

4. Can I do other things to make money aside from what I have been used too (This calls for having a Skill)

For some people when money isn't coming as expected. They will resort to quick loans with the hope that when we get paid, "we shall pay the money". This way of thinking isn't sustainable because you jump from one problem to another and debt can become a trap you don't want to get hooked too. As I wrote above, I started a small business of selling trays of eggs and it was good and profitable. Uber brought in much-needed money which enabled me to pay rent, take care of my wife and two children, and a maid at that time. 

You might be having skills that have been dormant, is it creating websites, baking, teaching, etc. This could probably be the time to harness your skills and keep nurturing it by learning whatever it takes to improve.

The last thing I want to say is that Salary is good but it can also enslave. Our minds can be glued to that as the only source yet we have been gifted with talents, opportunities but we somehow don't explore them for one or two reasons. As you work and get that beep at the end of the month, ask yourself how you can earn the same and much more even while still working. Receiving a salary isn't paying yourself, you have to use that same money to pay yourself too before the bills get paid.

#Transform #Impact #Empower

COVID19 & Saving

It seems impossible to save but there those who are actually doing it. Besides money, they have saved on quite a number of things that have enabled them to increase their savings amounts. Another thing that has been done is that the investment goals have become clearer and saving is now not for just saving, it is with a clear purpose. COVID has also pushed people to create alternative streams of income.

When you talk about money in this period, somehow you will hear the line, "Things are tight, there is no money, I got to learn how to save, I need to start a side hustle, I need to make my money work, I can't depend on a salary only, Since I am not paying fees, let me enjoy it now, etc."

Yes, it's is about time that we woke up to the fact that we can do certain things and that if the discipline is maintained, the word possible begins to surface.

While reading the book, How To Secure Your Financial Future by Dr. Sunday Adelaja, he says that "Every month, you should have a goal of the amount to be set aside for saving. For people who are not married, take advantage of your singleness and save as much as possible now, even 80% of your income. For married people, you should strive to start and get to 30% of your net income quickly. You should agree with your spouse on how much to set aside each month".

If you were already a good saver, ask yourself then how you can invest. That's a key question to answer.

Saving shouldn't only be the end goal but should be the starting goal. It's a good discipline to cultivate, don't rush trying to grow wealth, take it one step at a time while asking questions every day. A critical mind will get clear answers.

For parents saying there is no school fees to pay now, use it as an opportunity to put that money aside, you can invest it and let it grow by putting it in myxeno.com, you can have an educational goal with them. Your money shouldn't be stagnant in a bank account.

#Transform #Impact #Empower

13 Lessons From My Experience Partnering With Someone in a Business Venture During COVID 19

"During the 1950s, Aristotle Onassis and I formed what grew to be a close friendship and association in several business ventures" - J Paul Getty

Ever since the Lockdown began. I kept telling my neighbor that he needed to revive a business he used to do. His business was in supplying Pork to people within and outside our estate. He has farming experience so some of these things really come naturally to him. So as we kept talking during this time, we realized that this is a great opportunity and it must be seized and other categories of meats(Goat, Chicken, etc.) could be added there was time and the idea had to be worked on.

I kept telling him that he needed to revive the delivery of Pork. Then just like a blast of a bomb Booooom!! One day, he calls me and says, "Arthur, I need to start this thing", Are you in? and I am like "I am in", I needed to put in a percentage of money that would enable us to procure the orders from the clientele within our community.

It is now a month and some days since we started this thing and these are the lessons I have so far learned in this journey 

"Too much talk won't do the work, actualizing the idea by making clear cut and concrete decisions on when and how to start the venture is important, and in that the key thing is to begin". I promised him to design flyers but I saw that I was delaying and I told him you know what, the design will come later, just start posting the messages.

1. Do The Market Research

"I love marker research because you really have an idea what consumers are looking for" - Aerin Lauder

"We don't believe in market research for a new product unknown to the public, so we never do any" - Akio Morita

One of the key things we were looking at was an everyday service and also stemmed from the fact that we ourselves were looking for the same service and hoping that someone could start it. However, we said why can't we do this? that's when we started talking more and engaging in different modalities.

We had already done market research and one of the challenges was finding a butcher service. Since the places that we could easily get good choice meat were like 3-4kms away, meeting this need was of great importance because we would be filling that gap and providing the much-needed service.

2. Have a Clear Need You Are Meeting

"Every moment each human being is doing the best we know at that moment to meet our needs. We never do anything that is not in the service of a need, there is no conflict on our planet at the level of needs. We all have the same needs. The problem is in strategies for meeting the needs." - Marshall B. Rosenberg

Just like this powerful quote from Marshall Rosenberg suggests. Is that we should never do anything that is not in the service of a need. So realizing the need around the community with the challenges of the Lockdown reinforced the idea of starting this venture. 

Yours truly would ride to Najjera, Wakiso District to buy his favorite meat from one of the butchers. There is a family that badly wanted to eat meat and I told them when I ride to my butcher, then I could go buy them so. 

3. Test The Market

"The gap between what is expected and what you deliver is where the magic happens, in business and in life" - Jay Baer, Founder of Convince and Convert

One of the good things we were banking on was the fact that the market was already tested. But it was such a long time and still, the good news is some of the old clients kept asking when deliveries would start again. We were cognizant of the fact that we would get new clients and also get new feedback which has indeed happened, most of the feedback has been good but we have also had some shoot down moments, where a client says they did not like this or that but those comments were necessary for our improvement.

4. Gather the Finances You Need

"My philosophy is that If I have any money, I invest it in new ventures and not have it sitting around" - Richard Branson

When it came to the money part. One of the most important things is that the first currency we had was the agreement to work on this venture. We also had and continue to have the emotional tenacity and the will to release the monies we had sitting around. We agreed on how much we would bring for the first partnership. From the first day this venture kicked off, after making profits, we have found ourselves re-investing the capital back and even more.

To be continued...

5. Always re-invest the Capital

#Transform #Impact #Empower

3 Things I have learnt from The Concept of Paying Yourself

Image From bizcover.com

COVID 19 has taken a big toll on many people's finances. For those who have been prudent with their money, having emergency funds or even investments, somehow are navigating this COVID storm. The wise people who paid themselves are clearly seeing the benefit and as Lockdowns are being eased world over, getting this piece of financial education and living by the principles could help many of us. I once read somewhere that a wise man sees danger and takes precaution, so I can firmly say that another crisis will befall us but we need to take the lessons in this period and have them at heart.

Whenever we walk into a mall, grocery shop, we are paying the owners of the business. When we pay utility bills or rent, we pay the utility companies and the landlords. Yes, money moves faster than it came in and the only missing link on the payment schedule is you and I. How can we pay ourselves? to avoid living from one income to another, to break the cycle of being broke at the end of the month or day, some people have more months at the end than money.

“When you don’t pay yourself, you are trapped working for others” – Dr. Sunday Adelaja

John a young man in his mid-30’s earns 1000 Usd a month. However, whenever the month ends, he is always saying, he can’t wait for his end of month payment and this is because his account is bleeding and if the payment doesn’t come in the shortest time possible, he will have to borrow to enable him to survive as he awaits his payment. John shouldn’t be experiencing financial difficulty with the amount of the money he earns but his situation isn’t different from many people who live from paycheck to paycheck. With that amount of money, you would expect John to be more financially secure but a Janitor or waiter who earns 80 to 100 Usd and has been paying his or herself could be doing so much better than John.

While reading an article from Medium.com by Nicolas Cole about “5 serious things you should know about money before you turn 30”, at the age of 23, he sought out a family friend who was a trader and money expert to be taught about money, from one of his points, he mentioned that the fastest way to start saving and investing money is to “Tax” yourself. I hadn’t had of the concept of taxing oneself but I read through and said this is a good concept or analogy.

"We normally pay taxes to the government but never to ourselves" he said. He reiterated by saying that, “When trying to build wealth for yourself, habits are more important than “quick, high-yield investments”. I totally agree with that concept because the Get-rich-quick mentality has burned many hands, spoilt many relationships, and destroyed many people’s financial futures. To analogize the “Tax” concept, he quoted O’Leary who wrote the book, “Truth On Men, Women, and Money: 50 Common Money Mistakes and How To Fix Them”- O’Leary says people really struggle to save or invest money because they live in a constant state of thinking they don’t have enough money, to begin with. He said that O’Leary said that if one-day Government decided everyone was going to be taxed $100 per month, then people would somehow figure out how to get an extra $100 per month. Nicolas says someone would pick a side hustle, choose to eat out a few times or make sacrifices that reduce expenses so that the $100 can be realized. So Nicolas’ question is why not self-impose that same tax and pay yourself?

From the Book, “How To Secure Your Financial Future” by Dr. Sunday Adelaja, here are a list of 3 key points I learn about the concept of paying yourself, this can be applied by anyone who earns a monthly, daily or quarterly income, it can also apply to those who have no money at all.

1 Having a salary or an income is not equal to paying yourself

Dr. Sunday Adelaja says that the first thing that happens when your income is allocated to you is that the Government pays itself, through taxes. Depending on your country or workplace, there could be other deductions like loan payments, insurance, social security, union or association fees, etc. He reiterated and said that even pensions that are removed from your income aren’t enough when you retire.

2 To pay yourself does not mean to “REWARD” yourself by buying yourself liabilities that stroke your ego

Because people work so hard, normally a vacation is a perfect way to reward themselves. Dr. Sunday says that isn’t paying yourself. He says paying yourself means you must acquire assets and reduce liabilities. Dr. Sunday explains this concept based on the character Raj and says that. “If Raj had saved the vacation money and took his family on a more modest holiday, he would have been able to set aside over $10,000 to buy assets. Liabilities are those things that take money from you. When you put aside money for your future you are paying yourself and building a secured financial future. When you set aside money for your children’s future; for school fees and such, you are paying yourself.

 3 Paying yourself is not limited only to those who are employed

Dr. Sunday says small and medium enterprises make up the larger part of the economic growth across Africa and developing countries. He says some people do work as freelance and don’t have a regular income but to be able to secure one’s financial future, they need to know their necessary expenses at a given month and hence save all amounts above one’s necessary expenses. He says when income is low in low seasons, it necessitates why someone has to build passive income from investments so that relying on one income isn’t the norm. He encourages people to pay themselves by putting aside 30% towards future savings and investment.

#Transform #Impact #Empower

How To Come Out of Debt Trap

Image by Clker-Free-Vector-Images from Pixabay

Tom, a young lad in his early 30’s has a good job with a good take-home Salary. Before Tom, could start enjoying his hard-earned money, he was already in a cycle of debt. A few times he borrowed to enjoy certain pleasures of life like going out to the beach or to upcountry resorts to have fun with his buddies but that cycle continued. Tom banked on some money from his employers to sort out a few of his debts and before the money could come, he still had to borrow to manage his life, pay rent, transport, and eat.

Tom’s getting into debt wasn’t necessarily intentional but one of them was circumstantial. However, a big gaping hole has been left in his life as he sorts out his debt problems. I encouraged him by telling him that one good thing is, he still has a good job and that he should work with what he has while cutting out big expenses that could dent his financial purse.

One of the biggest traps in this world isn’t just going to jail, one of the biggest traps is debt itself. Financial enterprises like banks, microfinance keep selling their debt products, many of them are consumer debt. The debt is often marketed as a big-time solution to a lifestyle that people want now, and impulsive buyers surely fall into this trap with their eyes wide open. The marketing done by these companies is so well thought out that an attractive image of a beautiful woman with her sleek car or a couple smiling with their state of the art bungalow or apartments in the background is used. Surely who wouldn’t want that kind of lifestyle, the message settles in your mind and you start thinking maybe the easiest way to get that house, car, land, etc, is a loan.

From his book “How to Secure a Financial Future”, Dr. Sunday Adelaja in regards to Ad companies associated with banks or credit services says, “They use the power of subliminal messaging to associate the credit card with those things. A lot of people do not think there is anything wrong with credit cards or consumer loans; it affords them the lifestyle they want. But if you have to borrow to afford your lifestyle, isn’t that a trap? It’s just a matter of time before the house of card crumbles.

Before yours truly, had started work, the talk around money that came from every person I talked too was, “You need to get a loan”. That is the type of financial education I was getting introduced too. However, they wouldn’t say get a loan to develop, it would be man, we earn so little, so just get a loan. Loans can only be good when invested, but you surely do need a clear plan or goal for that money and you need to know that getting it is the easy part but paying back is the real deal. There is a need for proper financial education, people need to learn about saving, investing, debt, taxes, business, entrepreneurship, etc. All this is missed throughout our years of education yet learning them would make strides in grooming people who understand money and how it works from infancy.

Anyways while talking to this friend of mine, I told him that it is good that he is open about his situation and that that is the first step to coming out of a debt cycle. I told him that he needs to: -

1.       Have a debt payment plan and be as open to the people or institutions he owes.

2.       Increase his income by using his extra time (meet a need by providing a service, product, exchange time for value, etc) to make money that can be used to pay off his debt, For the small loans they can be kicked off one by one as a big chunk of the money goes to clearing the bigger debt.

3.       He needs to stick to basic spending and that will include rent, food, and transport. He will need to sacrifice events that take out a lot of money, such money can be channeled to clearing the debt.

4.       For any increment in his pay, the increment can be channeled to investment because we all know salary can do as much and that he needs to grow his money to have financial peace going forward.

What Decisions Are You Going To Make With Your Money Post Covid.

Photo by Sharon McCutcheon on Unsplash

Proverbs 21:20 NLT "The wise have wealth and luxury but fools spend whatever they get" 
Prov 21:20 TLB version. "The wise man saves for the future,[d] but the foolish man spends whatever he gets."

I don't want to continue being a FOOL. This is my post COVID decision.

Are you the type who earns very good monthly, daily, quarterly, and still finds themselves broke. You live from paycheck to paycheck. Yeah, you aren't alone, so many of us are in this bracket, we aren't poor but in the long run, our money decisions will lead us to poverty.

One of the surest ways to poverty that is well known is to try and please people, who don't care and even know how you hustle to get that dime.

Poverty isn't necessarily a lack of money, it involves many things like lack of skill, not having the mind to see opportunities, always waiting to be shown the way instead of using the knowledge out there and within us to craft the way. There people who are so poor all they have is money, however, most times the money is consumer debt that they keep paying to rescue themselves.

During this Covid19 period, many people who have very good jobs or businesses have been caught on the wrong side of their financial decisions. 

You will find 90% have been operating without emergency funds, it's probably because we think hard times won't come, yet history teaches us to rather be prepared other than just being there waiting for someone else to prepare us, you know even for the return of Jesus, we have to prepare lest we are caught on the side like the five virgins who had no oil left in their lamps. 

In this time many of us have looked back and said, hey, "I wasted so much money on luxuries, I wasted so much money on trying to live the good life, now I am here and the vendor on the street who from her little earnings has made some savings or investment is doing so much better than me".

Don't be shocked when we get back to the new normal, and we see many of us indulge in getting quick loans to fix temporary problems. This COVID period should teach many of us, to manage finances well and be good stewards of it. We also won't be shocked to see people selling off land to fix a temporary problem, many times our problems are consumption in nature and not investment. This is an uphill battle that can be fixed but it will require a lot of learning and unlearning.

It would be good to sit and reflect on how you and I are going to get better. The first thing to do is to start getting financial education. You know education that starts with you desiring to solve a problem you have is the most liberating.

Elinor Sauerwein was a teacher and a cook. Her story is one of uniqueness, she did not have a high-income paying job, but at the time of her death, she had almost 2 million USD. A big chunk of her money was given by her estate to the SALVATION ARMY. One of the key things I have learned from her story is that she was taught never to waste anything, her levels of being frugal were quite extreme to a point where her neighbors thought she and her husband were poor but their sole goal was to be a blessing to the salvation army. 

Many of us know what salvation army does if you don't look it up on the internet. So while we won't waste going forward, have a clear goal for your finances just like this lady I have written about. God bless.

#Transform #Impact #Empower

Covid19 and Personal Finances

Where is your money going?

When total lockdowns started happening, so many things came to a stop. Movements were restricted except for personnel going to buy home groceries.

People normally spend their money on things like entertainment, concerts, etc. But for now all that has been shut down. People now need to use this time to educate themselves rather than be entertained.

The question I would ask now is, Where is your money going? Are you saving more or there is nothing to save at all since it is basically survival for now?

I read an article from CBC, entitled 'I'm spending way less': The caption says that the lockdown is leading to more savings for some Canadians. I don't know how it is for you wherever you are and in whatever country. Surely back here in Uganda, so many things have slowed down and I could say on a personal note, I have saved on travel since I can only walk or drive somedays to the nearest supermarket. I last fuelled the car with $27.

In their article Max Miller said, she is spending less with the exception of groceries but most of her discretionary expenses are almost zero. Another person, Jo-ann Trunzo said, their account balance was much higher and that they realized they don't go out for dinner or shopping and that it's amazing to realize how much money you spend that you really don't need too. For some people, I also know their account balance could be less or non-existent since they work every day and it's a hand to mouth affair. There are people who don't even have emergency savings at all. This situation has hit hard in so many places world over.

What I have Heard Other Households Say

When the Lockdown was looming, people went into panic buying and I remember telling people to buy but to also know that what they buy would eventually get spent. However, the word SAVE has resonated on the mouths of people, others have said, we won't waste. In Uganda, people have a practice of throwing away food and this is because we know we have plenty of it. But that attitude of wastefulness can hurt in the long run especially in hard times like this. 

Some of the people I know have chosen to plant food in empty plots or in sacks around their homes, some have learned how to bake bread, cakes, etc. so that they don't have to buy it from the grocery store. We only hope that this will become the new normal however, we also know that old habits die hard but it will take serious discipline.

So right now it would be good to ask yourself, where can I put the monies I had previously budgeted for. For me personally, I am thinking of putting my travel money into an investment like myxeno.com so that it can be invested. Travel money has been one of my biggest expenditures. You know we have to move from saving to investing, I am quite certain so many people know how to save, but to grow wealth the game-changer comes in investing. 

Many of us are baby boomers, Millenials and we can't let the consumer mentality continue to rob us. The good thing is the Lockdown doesn't require us to dress our best to show off, doesn't require us to drive to show off, right now is a time for mindset shifts and it would be good 

"Don't let the fear of the time it will take to accomplish something stand in the way of your doing it. The time will pass anyway; we might just as well put that passing time to the best possible use." - Earl Nightingale

Time To Restrategize 

• If you can pay off your debt.
• Convert your time into tangible products, Jim Rohn once said, "Time is more valuable than money, you can get more money but you cannot get more time"
• Determine what your needs are and focus on them, cut off wants for now.
• Grow your own food, if you can, it's high time we started using empty containers to grow food especially here in Uganda.
• Start thinking long term by putting aside money to invest, if you don't know where or what to invest in, save the money in myxeno.com because at least it won't just be saving but it will grow since it will be invested.
• Start envisioning your future post covid19, life won't be the same, there will be a new normal, somethings will change for good but what needs to change with you is your attitude towards money and how you will beat the trap of consumerism. Many people have realized that there are many things they don't need that are stacked up in their house and this is the time to declutter.

Invest In A High-Income Skill

More than ever, you and I need to invest in a high-income skill, we need to learn more about money than ever before. Dan Lok once said we don't have a money problem, we have a skill problem. A high-income skill comes through learning and applying what you have learned. It's not good enough for us to have all the knowledge on money and not use it. It is like theoretically knowing how to drive but never getting into the car to actually drive it.

Keep Those Promises, They Are Building Blocks To Succeeding In Your Venture

Keep those little promises

Successful people understand that every time you break the promises you make to yourself, you feed your identity as an impostor and weaken your self-confidence as a person of action. - Julian Hayes

I love sharing experiences about different things but I am drawn quite a number of times to this thing called money. Money is so crazy a thing that people will lie or work hard and smart to get it, it can be used to empower communities or to manipulate them. It continues to be one of the most talked about things, people are grinding everyday in tough economies, they go to bed thinking about how they can make more or how they can just survive or even how they use it to build generational wealth.

I am a lover of planning, lover of making budgets but I do fall short just like anyone else and many times I know that because I did those right things, they set me up to succeed in one thing or the other. The problem comes when you start breeding familiarity, when you start saying I already know what to do or when you start saying I will do the plan in my head. 

Experience teaches us that it is always good to document because it becomes easy to follow up with what has been clearly written down in a defined and understandable manner. We have had this truth said before, write down your vision, so that those who see it will run with it. People who plan are people who prepare and those who don't are worse than animals who at least know what to do.

Julian Hayes makes some resounding statements in his quote, he says that successful people understand that every time you break promises you make to yourself, you feed your identity as an impostor, this got me thinking, how many times do I say I will save this amount of money, I will invest in this or that and end up not doing a thing at all. 

Our desire to not follow through with some of these habits we know have worked well over time has cost us a lot, we become complacent and keep postponing what we know will definitely build bridges that we and the generations to come will cross on. 

When it comes to money, I do encourage us to get back to the basics, seek to read, seek to understand, seek to make plans that you will act on, if we do that we can win and be successful. Remind yourself that you are the difference between success and failure because you are the one who will call the shots.

#Transform #Impact #Empower

Why Being Goal Oriented Is Still Important – part 2

On the 5^th of February 2016, I posted an article titled “Why Being Goal Oriented Is Still Important”.

It’s one thing to set a goal and another to work it. Goal setting is like making a marriage proposal and committing yourself to walk through the journey of love in both the good and bad times, choosing to love no matter what, adjusting and changing yourself to accommodate the other person in your life. It takes work, time and commitment to realize what you put your heart into.

“Setting goals is the first step in turning the invisible into the visible” – Anthony Robbins

As I had written in that article, my wife and I had the goal to build our home however we knew that for us to have a home, we needed a plot of land. We were able to get the land in our first year of marriage. It really took us making some deep sacrifices, we chose to live a modest lifestyle, nothing flashy but still happy within our means.

“If you don't have any goals in life, it is high time you start thinking of some and start living by them, you will live a life of purpose and bring fulfillment not only to yourself but also to those around you” – Arthur Kmo

Moved into our home

On the 8^th of April 2018, My wife, children and I moved into our home. The home is not done up to standard however the basics of power, water, plastered, undercoat painting, windows, doors, and roof are all there. We thank God for enabling us to get to where we are. His word says you shall build homes and live in them. We took that in the literal sense believed, worked hard, putting money aside so that we could be able to do what he promised in his word.

As we live in our home now. We know very well that the home needs maintenance, bills still need to be paid for but we also know that we aren’t under any pressure to pay rent. One of the things that pushed us to leave was the fact that rent had gone up and we told ourselves that we would rather use the rent money to keep doing finishing bit by bit.

You can not develop without a loan

I grew up knowing that for development like building a home to happen. It was impossible to do this without a debt. Almost everyone who said that, after doing some research, many of them have never really had a saving culture. What I heard is that you can only get a loan to invest in an income-generating asset or build a home. However I read up on some who have done that impossibility and I realized how frugal they were, how they patiently multiplied their income by creating other streams. I chose to follow the advice of the latter. I even read in the bible, that the borrower is a slave to the lender, I told myself that the only way I won't be a slave is to avoid debt at all costs.

Life is indeed about lifestyle choices. I strongly believe what Dave Ramsey teaches about personal finance. He says that it is 80% behavior and 20% head knowledge. We did and continue to do a lot of reading it has helped a lot. We surely live in an economy where the urge to borrow is so strong. Debt is sold to us at the highest level possible. While driving your car, you will hear all sorts of adverts pulling you to go get a bank loan. We get so happy while getting the loan but are so gloomy while paying it back. I agree that loans have helped very many people develop, but my story is different, my wife and I made some hard sacrifices to make sure that our home was 98% debt-free. We got some money here and there to push us, but we are grateful for what we have, the state it’s in, we shall only get better. This experience has taught us the value of working together, saving together and putting these ideas into reality. It is possible to develop at your pace without debt if you can avoid it please do if you can't seek as much advice as possible so that you can get good rates and understand what kind of agreement you are getting into with the bank. So many people who have used their loans well and put it to good use, they are there to tell you what it takes just seek them out.

To find out some of the things my wife and I did, you will possibly need to read these articles and many more. Enjoy!

1. Invest in your mind
2. Attitude 
3. Attitude towards money and the value of work
4. Make sense of saving
5. Don't stop planning
6. Decide today
7. Pay yourself since no one is paying you
8. Deal with consumerism
9. Deal with debt

#Impact #Empower #Transform