Episode 9. Managing Money | Usimamizi wa Fedha
In this #FutureYangu podcast episode we will focus on the three ‘Ms’ of financial education
Making money, managing money, multiplying money. Everyone should, as early as possible, acquire financial skills and knowledge that will allow them to make informed decisions about money, where you get it and what you use it for.
In this episode we meet Dr Judy who is a lecturer of business and entrepreneurship at University of Dar es Salaam. She shares her story of how she early suffered the loss of her mother yet was put to work by relatives to run a small business when she was still a child. She suffered mentally from isolation and lack of care but decided early on that she would not make that define her. She worked hard to finish school and was able to use her childhood experiences to her benefit to become an expert on entrepreneurship and business management.
Her message is that it is important to understand that we are our own makers, we all need to be independent, support ourselves and engage in income generating activities. Her message is always start small, save money, and build your own business.
The activity in this episode requires each student to set up a daily budget which includes their income like pocket money, their costs like transport, meals, and other expenses while at school and a savings plan as a way for them to learn how to manage money.
