Africa-Press – Tanzania. The public has been encouraged to learn and acquire saving skills in order to avoid unnecessary expenditure which in the long run may lead them to financial instability.
This was said recently in Dar es Salaam by an economist Mr Lawrence Mlaki during the fourth edition of Let’s Talk Finance forum aimed at imparting financial knowledge to people on how they can wisely use the money they generate.
“Most people are able to make good money from different activities but lack saving skills and knowledge on how to invest the money on something fruitful. “This is why we often organise the forum so that we can share with them essential financial management ideas they can use to enjoy the money they make without encountering problems,” Mr Mlaki said.
He added that until now, most people who have been attending the workshop are able to save their money and use the extra amount in investment a thing he described as a big achievement for the forum.
“Let me urge fellow Tanzanians to always have the culture of saving whatever extra amount they get for future use and they should avoid spending money on unnecessary things” he said.
His counterpart Mr Edmund Munyagi who is Personal Finance Trainer noted that despite people having good jobs and businesses, most of them have limited knowledge on money saving techniques a thing he said can only be solved through education.
“We have observed that some people have the ability to make a lot of money but they end up miming instead of saving or investing somewhere on productive activities,” he said.
A Financial Consultant Dr Amina Abdul narrated that making good budget, having emergency fund, setting targets, paying yourself and living within one’s income are some of key finance skills which can make a person have economic freedom.
