Even as we complain about the scarcity of money,several people have made conscious decisions to save money as a route to investments and development.
The problem most of us have is wanting to start saving big figures.These figures may never come because the more we earn the more our expense options increase.
Last week I happened to chance upon a meeting of a group of ten families that save together and could not help but marvel at their vision.Each couple saves with the group five hundred thousand shillings per month. Whichever of the members is meant to receive that month’s contribution organises to receive the members at home and takes care of their welfare on that day.
These couples come from two neighbouring districts, some are civil servants while others are business people.They know each other as friends and have been together since 2009. They are more like one big family now.
In addition to the assured five million shillings one couple receives to help them in their development journey, members personally advance more money to the couple depending on their trust of the couple receiving the money and their capacity to advance the same amount when their time comes.
The members were all praises for what the group had helped them do from land purchases,building residential and business premises to educating their kids in good schools and building sustainable businesses.
If such people exist amongst us,why do we prefer going it alone ?
With the economic uncertainty currently prevailing, it might be people in groups who may have it easier to cushion themselves against financial instability.It is going to get increasingly harder for an individual to do so much with so little disposable income.
Start saving as little as you can as an individual and /or group to get yourself used to saving. Once it becomes routine for you,it will be easier to set higher targets with time.
SPENDING WITHOUT SAVING IS A TIME BOMB.
WE MUST WAGE PERSONAL WARS AGAINST SPENDING WITHOUT SAVING.
If you are weak at saving, interact with people who have started on this journey or better still those who have been there for quite some time.
WHAT WE FAIL AS INDIVIDUALS, GROUPS CAN ENABLE US DO SUCCESSFULLY.
#SmallBusiness is #BigBusiness
Jimmy Muhinda is an Entreprenuer based in Uganda