Australian financial expert advises youths on saving

Sat, 31 Dec 2016 13:02:33 +0000

 

By KELVIN SIABANA

 A VISITING Australian Financial consultant William Grant has urged the youths in the country to master the art of saving money despite the hard economic times to prepare for the future.

Mr Grant said the youths should not be misled that they could only save money in the bank when the economy of the country picks up because Zambia was not the  only  country that was facing economic challenges but also some other countries world over were also affected.

He said the youths should master the culture of saving money in different financial institutions dotted across  the country as  they  would not only secure for the  future but plan effectively in their lives.

Mr Grant said there was no magic involved for one to take keen interest in saving money because what was required from each individual was financial discipline regardless of the amount one earned.

He said in saving money no amount was too big or small because every saving that was deposited in the bank made a huge difference.

“I have observed that most of the youths in the informal or formal sector in Zambia have the will to save money in the Bank whilst others suggest that it was difficult for them to save because the money they get as monthly wages or profits from their various forms of businesses is not enough to save,” said Mr Grant.

He said the issue of hand to mouth among the youths should become a thing of the past because saving is important as it prepared an individual to safeguard the future in terms of finances.

The Financial consultant said the youths should now start preparing for a solid and firm foundation for tomorrow regardless of one’s earnings because a financially viable person would not borrow unreasonably.

Mr Grant told the Daily Nation in Chingola that the youths should carefully plan for their lives because what they do today would shape their future.

He has advised the youths also to take advantage of reading books and some online sites that encouraged on how to save money in the bank with little resources as a starting point.

Mr Grant said the start might look to be difficult but as time goes on, the saving aspect would become like a hobby and eventually it would develop into a habit.

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