Quote of the Week: "Problems are not stop signs, they are guidelines."~ Ambition Circle


The beginning of each year provides a chance to set and achieve new goals due to the motivation of having a new beginning. Most of us have plans to set new goals in line with the aspiration of long-term financial stability. Getting yourself on a sound financial footing may take decades of planning, skill and patience. Considering the long road ahead, you have every reason to get started today! The following pointers will help get you to the finish line:-

Have a Plan

Financial security will not happen by accident, nor will it happen overnight. You need to approach your life with a long-term strategy made up of a series of short term actions and goals. Success rarely happens at random and thus a concrete plan on how to reach your financial freedom needs to be set into place. Write down your goals and set a step by step plan of how to achieve them.

Invest in Yourself

When businesses want to grow, they invest in themselves. The same logic should apply to individuals, before you even begin your career, an investment in education can provide an opportunity to increase your potential lifetime earnings. Going to college or a trade school can provide knowledge that will help you prepare for opportunities in future. Learning new skills is an investment that should continue over the course of your life, you can continue to build your skillset even during retirement. Even if you have been tremendously successful and no longer need to work, you can continue to invest in yourself by building your knowledge base.

Get out of Debt

Debt management is critical for every successful financial plan. Do not rack up debt in the typical consumer fashion. In the mindset of longing to achieve all the set goals we may tend to accumulate debt when the resources we have may be limited at the time to enable us meet those goals. At this point, the plan and budget set earlier will come in handy to help in opportunity cost.  Try and avoid debt as much as you can. If you strive to live within your means then you would not end up in debt. Put your money where it will give you a good return, like a money market fund.

Be Patient

Bad things happen to good people as even the best laid plans may suffer setbacks. Jobs are lost, investments fail and tragedy strikes. Be patient. Do not let temporary setbacks distract you from your long-term goals.

To Summarise

Adopting the steps above will set you well on your way to building a secure financial future. While the journey is long and the road not always easy, be sure to take the time to appreciate what you have. Taking time to savour the small victories that will help you see where you have come from and you will appreciate where you are going.

You can send your comments or questions to This email address is being protected from spambots. You need JavaScript enabled to view it. , or WhatsApp us on 0733-111106, or visit our offices at Ecobank towers, 7th floor, Muindi Mbingu street for more information on personal financial planning. You can also follow us on Facebook and twitter @ZimeleAM.