It was a great pleasure to share knowledge with Maji Mazuri youth on personal finances #MasterClass #FinancialLiteracy #QualityEducationLifelongLearning
- How to effectively budget your finances.
- Understanding basic principle around money.
- How to save and invest your finances (Basic foundation).
- OTHER NAMES FOR MONEY the youth language!
- THE VICIOUS CYCLE AROUND COST OF LIVING IN THE SLUM (Poverty and Knowledge Economy). The trap: Living day by day, Hand to Mouth, Living on Debt, Living on hopes and promises, Living below the poverty line
SEVEN PRINCIPLE ABOUT MONEY
- Live within your means Pay debt and taxes
- Saving is the first expenditure
- Create different streams of income
- Have some emergency funds
- Pay for insurance cover (NHIF)
- Start saving and investment as early as you can (Develop the knowledge, habit, attitude and behavior around money).
- Buy based on what you need and less on what you want (Income vs. Expenditure, Wants vs. needs)
- INVEST IN PROJECT / BUSINESS
- SAVING OPTIONS WITH SACCOS
- FIXED DEPOSIT ACCOUNT
- MONEY MARKET FUND
- BANK ACCOUNT GREAT
QUOTES AROUND MONEY!
Too many people spend money they earned..to buy things they don't want..to impress people that they don't like. – Will Rogers
A wise person should have money in their head, but not in their heart. – Jonathan Swift An investment in knowledge pays the best interest. – Benjamin Franklin
Formal education will make you a living; self-education will make you a fortune. – Jim Rohn