Are you financially independent? Do you have enough money to cover your basic needs and have some to save for the old age? You need money to buy your needs and wants. You cannot be happy and achieve peak performance unless you afford to buy your basic needs. How do you ensure you are financially stable to have peace of mind? Have a clear financial strategy Be a master of your own life. Write down what it is you want to achieve in in line with your guiding values or personal credo. Set your own agenda and work consistently towards…
Personal finance: Invest your savings wisely
Let’s set the record straight – you must invest money in order to succeed. Your choice of business and entrepreneurial acumen will determine your profitability and future success. Every business has its own shortcomings and limitations. You must do homework to ascertain the impediments to your business. Is it capital or markets? Assuming you had Ugx. 5m in your bank account, which business would you invest in? There are many businesses you might consider investing in– stocks, treasury bills, real estate, mobile money agency, eatery, consulting outfit or farming. Your choice must be influenced by your availability, capital requirements and…