Did you know that small-scale traders in St. Balikuddembe Market have a savings scheme? It is mandatory for each one of them to save Shs1,000 a day? Currently most of them live in their own houses. Simple, yes, but they do not rent.
In Africa, you are not a man until you build or buy your own house. And as the costs of living rise by the day, the only way you are going to build without stealing is to start saving now.
Saving is the discipline of putting some money aside for future use.
Times always come that necessitate spending without earning; times of sickness and old age. Even the ants spend thesummer saving food for winter. Start preparing for your ‘winter’ too. .
You cannot say your income is too paltry to save some. You cannot say you don’t work so you have nothing to save either. Where then do you get money to buy your girlfriend chips? Just cut your costs!
Any penny saved counts. One by one makes a bundle. And use that brain to generate more income-generating ideas. Scientists say the average person uses only 10 per cent of their brain capacity.
Do not be that average person!
If you are a spendthrift who cannot help himself, put your money onto a fixed deposit account where you cannot reach it. Remember saving is not for the fainthearted; it calls for assertiveness and self-control.
I used to be one of those people who used to spend recklessly until I learned to respect hard-earned money. Yes, money does not grow on trees so learn to spend it prudently. That’s the secret of personal financial management.