1. Personal Financial Management “It begins with simple principles”
Presented By:-
Mwijage Joe Bishota

2. Where Do I Start? Know where you are Know where you want to go
Know which path you want to take i.e. what course of action to take
Look carefully at your options
Strategize and create an action plan
Go for it and be careful to always remember to re-evaluate and revise, if necessary
Learn the following 5 key principles

3. Principle No. 1: Spend Less Than You Earn
How much you make – How much you spend = How much you keep

4. Principle No. 2: Increase Your Ability to Earn
Learn to do the simple things in life
Wake up earlier
Work Smart
Look Presentable
Do something useful
Give your best
Build good relationships
Step up to challenges when the opportunity comes
Be a leader
Own up to your own mistakes
Learn to stand up for yourself

5. Principle No. 2 - Continued
The Practical
Start a business
Develop more ways to make money i.e. Do you have a talent or a hobby that can bring you a little extra?
Know how to keep in touch with your friends
A little more education never hurt anyone
Learn to be financially literate

6. Principle No. 3: Live Within Your Means
Maximize every shilling you spend
Know what you need vs. what you want
Learn some basic rules
Break your bad habits
Write a shopping list before you go shopping
Always ask for a discount
Turn off the lights
Buy insurance
Keep your hands clean
Invest in a deep freezer , if you can
Don’t speed
Exercise more

7. Principle No. 4: Manage Your Money
This is probably the hardest part for everybody. Extra cash is your ticket to a good future!
Build an emergency fund
Reduce your debt!!!!
Make a list first
Make a plan – Snowball effect
Consolidate if you can
Track your assets, debt, net worth, spending – have goals and maintain a budget!
Plan for retirement (at least 10% of your income)
Plan for your kids education
Invest

8. Principle No. 5: Control Your Destiny
Four levels of wealth
Financial Stability – Emergency fund + Insurance
Financial Security – Passive income covers basic needs
Financial Freedom – Sustain a certain lifestyle
Financial Abundance – Desired lifestyle
Give Back
Dare to make a difference

9. DON’T FORGET TO SPEND LESS THAN YOU EARN 
THE END
DON’T FORGET TO SPEND LESS THAN YOU EARN 