Losing a job got me into financial literacy - James Abola

Losing a job got me into financial literacy

It is now 10 years since I got into providing financial literacy. Since 2005, I have consistently contributed to a business and finance column in Daily Monitor as well making occasional contributions to other newspapers, radios and TVs.

I have developed financial literacy courses for teenagers, youth and adults. I have co-authored two books: Make Sense of Your Money and Money and Marriage both of which are exceptional products.

After my first ever financial literacy talk in September 2005 a gentleman walked to me and pointedly told me, “James how can you tell us to be rich when you are very poor?”

I am happy to say that 10 years later I continue to speak to people from diverse social, economic and national backgrounds.
All achievements have two parts: there is the dramatic part, such as when Stephen Kiprotich won the Olympic gold medal and then the drudgery part.

The drudgery part of my financial literacy involvement begun when I was employed by a commercial bank right after university.

The five and half years I spent in banking taught me a lot about financial systems and services as well businesses and entrepreneurship.

My departure from banking had an important financial literacy twist. The bank was closed by the central bank a few days to pay day when I had only Shs20,000 in my pocket. Later I asked myself why and how I had only Shs20,000 after more than five years of employment.

I realised that there was something very wrong with the way I handled money although I could not pinpoint the problem.
After my banking stint, I thought it would be a good idea to get a formal qualification to back up the knowledge and skills I had already picked up and that is when I enrolled for a Master of Science in Finance.

Truth be told that with the financial knowledge, experience and qualification I had then I still had no clue of how to apply what I knew to individuals and households.

Next week I will narrate the dramatic part of my entry into financial literacy, when the different pieces of the puzzle all came together. (The second part of this article will continue next week)

 http://www.monitor.co.ug/Business/Prosper/Losing-a-job-got-me--into-financial-literacy/-/688616/2844436/-/ioch2z/-/index.html