Save Today. Safe Tomorrow
-
Upload
kelvin-kizito-kiyingi -
Category
Economy & Finance
-
view
80 -
download
2
Transcript of Save Today. Safe Tomorrow
![Page 1: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/1.jpg)
Save Today. Safe Tomorrow
By Kelvin Kizito Kiyingi March 2015
A Presentation made at the C.N. Kikonyongo Money Museum, Bank of
Uganda, Global Money Week, Kampala.
![Page 2: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/2.jpg)
Outline
Money
Pillars of Money Literacy
Creating a Personal Savings Plan
Detailed Savings Discussion
Control: Living Within Your Means
Key Ideas About Money
Conclusion
3/17/2015 2
![Page 3: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/3.jpg)
Money: Extremely Crucial in Life
• Key Lesson: It is very important in life. When you are young money is bad; source of all evil. It is how you use it that determines whether it is good or evil. Most important decisions in life about money
3/17/2015 3
![Page 4: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/4.jpg)
Pillars of Money
3/17/2015 4
![Page 5: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/5.jpg)
Guiding Principles for Saving Money
3/17/2015 5
Key lesson: Have a deliberate plan to save money, for example, by saving a percentage of your income. A saving plan will help you reduce on your expenditure, by first ‘cutting’ on the non-essentials.
1 • Set Your Savings Goals
2 • Make Room in Your Budget
3 • Decide Your Priorities
4 • Automate and Manage Your Savings
![Page 6: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/6.jpg)
Set Savings Goals
3/17/2015 6
• Identifying objectives for saving will help you get started. You need to have a timeline for each of your savings objectives.
• Key Lesson: Goals give motivate to save, they give you a purpose to
save, especially when you celebrate after you have achieved them.
![Page 7: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/7.jpg)
Record Your Expenses & Make a Budget
3/17/2015 7
• Recording all your expenses will help you know how much you spend.
• Key Lesson: Tracking your expenses enables you to budget for your savings and limit over-spending.
![Page 8: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/8.jpg)
Priorities & Right Savings Strategy
3/17/2015 8
• Deciding your priorities will be help you choose the appropriate savings strategy. Some goals are easier to achieve; others are short-term whereas some might be long-term.
• Key Lesson: A scale of preference will enable you rank your savings goals in order of priority. You will choose savings strategies accordingly.
![Page 9: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/9.jpg)
Manage Your Savings
3/17/2015 9
• Check your savings status periodically.
• Key Lesson: Tracking your savings can be a source of inspiration, especially if you become a habitual saver. You could even end up saving more.
![Page 10: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/10.jpg)
Behaviour & Attitude: Crucial for Success
3/17/2015 10
Behaviour and attitude help to anchor expectations, to influence perceptions and
the ability to achieve
• Control your money
• Increase Earnings or Reduce Expenses
•controlling inflation
•The key to effectiveness lies influencing private sector expectations
Goals
• Positive Thinking
• What man has done, man can do
• Do not quit
Behaviour & Faith • Expectations have to be
linked to your objectives
• Expectations influence perception & degree of achieving your savings goals
Expectations
![Page 11: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/11.jpg)
Control: Living Within Means
3/17/2015 11
The Tools
Planning
Save and Don’t touch your savings
Make Saving a Habit
Be informed/Read good books/Internet
Borrowing/Loans
Make Spending less
a habit
Set up an Emergency Fund
Record/Track your income and expenditure
![Page 12: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/12.jpg)
Key Ideas About Money
3/17/2015 12
Money Menu Need Vs. Want Wealth
Consciousness
Human Relations
Hard Work Understanding
the money system
![Page 13: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/13.jpg)
Conclusion
3/17/2015 13
Self-discipline & Self-Control: Budget, Priorities, Savings Plan, Manage Your Savings, Living Within Your Means
Avoid unnecessary expenditure by distinguishing between needs and wants
Aiming to spend less always, review all your expenses periodically
Malachi 3: 8-10
Ezekiel 44:30
Proverbs 11:24
Proverbs 28:27
![Page 14: Save Today. Safe Tomorrow](https://reader033.fdocuments.net/reader033/viewer/2022042514/55b3f7f5bb61eb083b8b457a/html5/thumbnails/14.jpg)
3/17/2015 14
Thank You!
Any questions
please?