Masaka youth encouraged to prioritize saving money over entertainment ventures

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Masaka youth encouraged to prioritize saving money over entertainment ventures
Eng Usama Kasagga speaking

The youth of Masaka have been encouraged to embrace the habit of saving money instead of squandering it on entertainment ventures.

This advice was given during the Youth Empowerment Program organized by Helping Hands for Relief and Development (HHRD) at Equator University of Science and Technology (EQUSaT).

The event, with the theme "Harnessing the Potential of Youth in Shaping the Future," aimed to enlighten young individuals on money management, mental health, and leadership skills, thereby uplifting their status within their communities.

Addressing the youth, Dr. Bint Juma Luwedde, a psychiatrist, emphasized the importance of self-reflection before making decisions. She urged the youth to think carefully before acting and to focus on their own businesses rather than being preoccupied with the affairs of others.

"In terms of mental health, engaging in self-reflection before making decisions is crucial. It is advised to think before you act, and it is also essential to concentrate on your own affairs instead of becoming preoccupied with those of others," advised Dr. Luwedde.

Solomon Mudenya, a financial literacy expert and the EQUSaT bursar, urged students to prioritize saving money over indulging in pleasurable ventures that may not yield financial results in the future. He encouraged them to save their money for profitable endeavors that would elevate their financial status.

"The more you save, the more capital you accumulate to initiate ventures. Do not underestimate the value of 500 shillings; it's that small coin that might build up your company. Instead of spending it on other avenues of entertainment, as some of you do, save it and use it to do something productive," emphasized Mudenya Solomon.

Eng. Usama Kasagga, the University's Academic Registrar and another panelist, called on youth leaders in Masaka to reflect on their work approach.

He highlighted the importance of empathy and sympathy as elements of effective leadership to serve others with a sense of humanity.

In response to Mudenya's point, Professor Mouhammad Mpezamihigo, the University Vice Chancellor, encouraged the youth to establish Savings and Credit Cooperative Organizations (Saccos) to save money and engage in profitable business ventures as small groups. He urged students from different universities to embrace this concept and encouraged those from his university to take the lead.

"Let's not just talk about saving without taking action. Let there be a Student's Sacco where students can save about Sh 10,000 per month. After approximately six months, they can meet and decide on which business to start up. And if the students can save money, what about you, the staff?" he emphasized.

Haruna Kibirige, the Programs Coordinator at HHRD, stated that the program aimed to train the youth in Masaka on improving their financial statuses, managing mental health issues, and developing leadership skills.

The most memorable moments for the youth during the event came during the lunch session when they were treated to a buffet of food. They were then awarded certificates of participation and later enjoyed a free movie session in the evening, complete with ice cream and popcorn.

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