Develop a saving culture to be money smart


By Christine Jella

As a student of Makerere University pursuing Bachelor of Community Psychology, I have often wondered how the wealthy create a foundation of financial stability. I was enlightened at the “Money Smart” Youth Week20201 program organized by AIESEC in partnership with UNA-Uganda at our campus on 7th May 2021 at the auditorium.

As a young adult student with high interest in succeeding in life, I have been battling so much with building financial stability. Listening to the panelists such as; Ms.Maggie Kigozi(Director Pepsi Uganda), James Segawa (MD Movit Products Ltd), Mr.Samuel Okot (Co-Founder Economic Misfit) and Mr.Wamanya Henry (MD Equity Bank U Ltd) helped me understand principles of saving, how to invest smartly and develop success factors for business.  

While talking about saving, the panelists agreed that most people can’t or don’t save due to their high spending culture. Mr.Segawa commented that young people “spend as much as everything and save as little as nothing.” The students were encouraged to save for whatever they need or future plans. The more one saved, the more the saving culture is developed since it grows with individual. “It is not about how much you earn rather the fact that we don’t have saving’s culture” said Maggie Kigozi.

Something that l mostly learnt is how to invest smartly. According to Mr.Segawa, smart investment is a process which requires one to be creative, agile in execution, focused, disciplined  and develop good strategies for managing wastages(in environment, processes and delivery of service/product). From the experiences shared, I learnt that I don’t have to physically be present to run a business or succeed. Yes, it’s very important to have the good grades and the social connections.  However, with the confidence, a positive attitude, right information and mentorship; financial success is possible

As the female representative of UNAU Makerere chapter, I am eternally grateful to UNAU for having exposed us to such important and priceless information at no cost.  I highly believe that our success is equally the success of our fellow youth because we will be able to uplift them given the right information.

Once again, I appreciate UNAU for the opportunity.

Written by Christine Jella

Edited by Destiny Gladys Chaiga