Invest based on KNOWLEDGE and not SPECULATION

The same thing about knowledge comes back whether we want it or not. 

When we have knowledge we are informed. Some one once said that it is hard to manipulate people when they are informed. This same principle applies to financial management and investment in relation to your financial goals.

When you don't have knowledge, it is a recipe for disaster, knowledge makes you make informed decisions and such can make you avoid GET RICH QUICK SCHEMES and appreciate going through the process of a well researched investment opportunity or product or service.

I quote Sylvia Juuko "Any empowered investor will choose where to invest based on knowledge and not speculation, and this will be in line with heir financial goals"

Remember Hosea 4:6 says My people perish for lack of knowledge

Continue In The Things You Have Learned

2 Timothy 3:14 But as for you, continue[be faithful] in what you have learned and have become convinced of, because you know those from whom you learned it,

There are questions we must continue to ask ourselves, if we are to improve on how we do our personal, business financial management.

Am I continuing in what I have learnt by practicing it?

Am I faithful to myself and to the application of the principles?

Am I consulting even more concerning something I am struggling with?

Am I reading to find out more about that subject?

Am I networking with people in that field to learn from them?

There are certain habits we need to develop in relation to the questions asked, Timothy continued and was faithful in what he learnt as he practiced more and the source of the person who taught him was also authentic and that played a big part in his success story.

A friend of mine called Bweme Antonio once mentioned that "When we develop the habit of success, we make success a Habit"

When READING Stops LEARNING Stops

The best investment you can ever make is in your brain, scripture confirms this by saying we should be transformed by the renewing of our minds.

When you aren't transforming, it means you are conforming to something. 

When it comes to financial management, the same principle applies, we need to keep learning and re-learning, we can only be changed by what we read and how we apply it...

2 Timothy 2:14 [KJV] Of these things put them in remembrance, charging them before the Lord that they strive not about words to no profit, but to the subverting of the hearers.

15 Study to shew thyself approved unto God, a workman that needeth not to be ashamed, rightly dividing the word of truth.

There Is A Benefit To Applying What You Have Learnt

Time is never in any one's hands and scripture actually says we should redeem time (probably one of the only things that can be redeemed) but it is one of the resources if not managed well, it can affect almost every thing we do.

We need Wisdom, When applied we can enjoy the benefit of it thereof..

I have mentioned before that there is a cost for reaching late, that price pinches more than ever and it all comes down to poor time management. So with this said and since time can be redeemed, It is never too late to change course and follow your passion and apply what you have learnt.

“Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do, when it ought to be done, whether you like it or not.”

Psalm 90:12 "Teach us to number our days that we may apply hearts to wisdom"

There is a story hear of a guy who got a Masters in MBA, did accounting but found his niche in chicken business, I guess nothing is impossible, it is just our minds that don't want to walk out of impossibilities..http://www.monitor.co.ug/…/…/-/item/0/-/3q20ppz/-/index.html

Goal Setting Gives You A Bench Mark

(One of the Most Important principles in life) - Can be applied to financial Management.

Borrowing from scripture Paul said in Philippians 3:14 "I press on toward the GOAL [MARK] to win the prize for which God has called me heavenward in Christ Jesus."

If you never have a goal in life, you will live aimlessly, the wind can take you anywhere without your permission. 

Goal setting is one of the most powerful tools any one can use to be successful in anything they put their hearts to do. It is something that is not usually taken seriously, I for one still suffers the fate of not fully adhering and pressing towards my goals, but each time I have focused and remained on course I have seen tremendous results, all you need is FOCUS, DETERMINATION and CONSISTENCY.

If you set out to read literature for 30 mins every day and you maintained that, you will acquire information and you will always remain relevant, In fact a study was done that one of the habits of wealthy men is to read something for 30 mins everyday.

When it comes to financial Management or SAVING, have you realized your goal, Did you set them in the first place, How much did you want to save and for what exactly, YOU MUST HAVE A GOAL, it helps you fulfill purpose and attain the VISION set before you, If you don't have a goal, you have nothing to press to.

Here are some tips on:-

How to achieve your savings goals

1. Know how much money is needed

2. Have a clear savings plan

3. Regularly review your progress

4. Have a specific saving time frame

5. Tell your family and friends about your goal

God bless you as you start with realistic goals

Making an Extra Buck (Money)

As I write this, I guess this is one question that lingers so much in the minds of many people, How do I make Extra Money? I don't know if it is just a mindset issue or it's our upbringing that plays into the way we think, work and do many other things.

At least one thing am very sure of is that God has blessed all of us with a set of skills, either taught from school or colleagues, also self taught etc But some how there is something we can do with is. Some of them have been classified into hobbies or just something someone loves to do.

You could be the person who has loves photography and you do it as your hobby, if you were serious enough, that could be turned into an opportunity to make some extra income, you never know if it went to higher levels with deeper commitment and focus it could turn into a business. It could be cooking or baking cakes, decorating, book reviews etc.

You could be living in a very spacious place and have many rooms or outside squatters that can be rented for travelers or you could be having an extra car that is just sitting home but can be hired out probably for a wedding or travel etc.. Money is all around you, all you need is an idea to fish it out of someone's hand.

I must say, I keep thinking but more so looking at what is within my reach even my own brain and knowledge can be that valuable however a few months back, I decided I would use my I.T skills as a Freelancer first of all as a service to those who need it and as time went on, I realized I could do a little charge for some of the things I did so that my time, knowledge and expertise has some value attached to it. As of date I have recorded some tremendous records of the little monies I have got and I can gladly say it has been well saved and it's earning some interest on something, this will help me do some more projects I would love to do in the near future. But the truth is you can make some extra money. 

You don't have to think so hard, all you have to do is be smart, give good service and you will find that you will become dependable and even when you ask for a little more money it keeps growing and you are given it with confidence. What Skill do you have? and are you willing to first use it as a service to add value then you can put a charge a little later with time.

The scripture that would sum this up for me is:- 

(She Saw Her Trading profitable)

Proverbs 31:16 She considers a field and buys it; out of her earnings she plants a vineyard. 17 She sets about her work vigorously; her arms are strong for her tasks. 18 She sees that her trading is profitable, and her lamp does not go out at night.

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…