IN 2023 - WE NEED TO CHANGE THE APPROACH SO THAT WE BUILD HOUSES

Why is it that Zambians, despite being hard workers, still remain poor?

1. They do not save money

2. They have no access to loans

3. Zambians have no insurance

4. Lack of investment

The combination of the above enables one to grow financially and build wealth.

SAVINGS

The money you save will help you to invest or start a business. That is your capital. Secondly, when you have a crisis, you can easily access your savings and solve whatever crisis comes your way. If you are planning to build a house, you need to start saving now so that you have enough to get you started with your housing project. K2,500 per month is not bad to save on a monthly basis.

A person that does not save money does not become rich. This is because all the money earned from the income making projects is used up immediately. It is always hand to mouth. I would also advise you to save money wisely. Save for a specific purpose for example, save to buy a plot.

These days there are a number of products available for you to save money. Chilufya Mwila has some very good saving plan which gives you money while you sleep. Also you can open up an insurance policy and your money will be safe. Contact Elizabeth Winnie Musanya for insurance products you can get.

LOANS

Loans are very important. For example, if you want to build a house, you can save money for 5 years in which case, your money will lose value in that period of time or you can get a loan and build right now.

Did you know that on a monthly basis you use up money to support other people that do not even care about you? How much money have you been using to solve other people's problems? How much money have you been using to buy beer for other people? How much money do you spend on that side chick?

If you got a loan and allocated your resources to pay for the loan, in five years time, you will finish that loan and would have a house at window or roof level depending on your plan.

That money you spend on food, reduce it and let the money pay for the loan. Food will always end up in the toilet, but when you build a house using a loan, you will have it for your lifetime and that of your children.

Zambians are poor because they have a fear for loans which when well used, provides a good source of capital to finance a business or building project.

INSURANCE

Insurance will help you in bad times. If your car is involved in an accident, you do not have to dip into your savings to replace it, rather, insurance will compensate you by getting you another car. This applies to stock in a business or even houses. Imagine if your stock was stollen today, how would you get back to your feet without insurance?

In the absence of insurance, people use their savings to get back to their feet after a disaster. As a result, the purpose for saving is defeated.

Zambians are very negative about insurance, no wonder we do not become rich. If you are always on the road, make sure you get an insurance policy so that if you happen to die on the road in an accident, the insurance company will pay for the school of your children. It is my prayer that death will not find you in this way and that you will.live a long life in Jesus name. Elizabeth mentioned above will help you in that area.

INVESTMENT

Zambians are generally poor because they have no investments. Our investment is beer, girlfriends, relatives, phones and food. We do not have real investments. An investment must give you money. If you build a school, it will start giving you money. If you invest in a business, ordering blankets from South or Botswana, you will have a sound business that pays you well.

Unfortunately, most Zambians are working and eating the salary without a care of what tomorrow will bring. That is why when one is fired from work, they go into depression and kill themselves or just die. With an investment in place, you can easily transition from your full time job to working full time on your investment.

The difference between a poor man and a rich man is investment. A rich man has a money making factory while a poor person only has a children making factory.

Conclusion

Our decisions today will define our status tomorrow. In 2023, we need to change our approach to life, we must save money, have an access to loans, get insurance and invest the money.

Chipangano Malowa

Strategy Specialist

Coach and Trainer

0966 077 764