Unlocking Financial Freedom: The Game of Money and Core Solutions
Explore the journey to financial freedom with UNS SACCO's presentation on owning your financial future. Discover the core reasons people struggle financially, along with solutions like the 70-30 income rule. Learn how to manage assets, plan expenses, and invest for cash flow to achieve lasting financial independence.
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Presentation Transcript
UNS SACCO PRESENTATION TOPIC: OWNING MY FINANCIAL FREEDOM
VISION A leading SACCO promoting member prosperity for generations. MISSION To mobilize resources and provide affordable financial services to members
THE GAME OF MONEY FIRST HALF ASSETS Quarter 1 25 years - 35 years 1,2,3,4,5 Game time (10 Years) Total income: Ugx . Quarter 2 35 years 45 years 1,2,3,4,5 Game time (10 Years) Total income: Ugx . SECOND HALF ASSETS Quarter 3 45 years - 55 years 1,2,3,4,5-------- Game time (10 Years) Total income: Ugx . Quarter 4 55 years 65 years 1,2,3,4,5 Game time (10 Years) Total income: Ugx . OVER TIME ASSETS Game time (5 years) 65 years 70 years 1,2,3,4,5 .. Total income: Ugx . TIME OUT!!!!!!!!! END OF GAME
Question; why do people struggle financially? THE CORE CAUSE OF FINANCIAL STRUGGLES 100% 0% OTHERS ME 1. URA, Food seller, 1.The working Donkey 2. Boutique owners 2.Work like an elephant but eat like an ant 3. Medical doctors, 3.Must work in all conditions come rain come 4. Umeme, National water sunshine 5. MTN, Airtel 4.Faces most risks at work, road accident 6. Wedding couples, Relatives 5.Sacrifices the most for every one 7. Traffic Officer 8. Banks 9. Maid 10. School owners 11. Land Lord
THE CORE SOLUTION TO FINANCIAL STRUGGLES INCOME 70% 30% OTHERS ME The 70% 30% rule applies to every income. THE BREAK DOWN OF 30% Paying yourself first for every income you earn
THE BREAK DOWN OF 30% Paying yourself first for every income you earn ACCOUNTS PERCENTAGE SHARE 10% 1. Tithe 50% 1. Investment fund; 2 rules; Don t lose money, always fight to make a profit Always go back to rule no.1 30% 1. Cash reserve Creates a bridge during tough time i.e. for safety 10% 1. Fun account; should always be spent to zero.
THE FINANCIAL REPORT INCOME 1. 2. 3. 4. 5. EXPENSES 1. 5. 9. 2. 6. 10. 3. 7. 11. 4. 8. ASSETS 1. 2. 3. 4. 5. LIABILITIES 1. 2. 3. 4. 5. Note; An asset puts money in your pocket and a liability takes money from your pocket
ROAD TO FINANCIAL FREEDOM What is financial freedom? You are financially free if your current income exceeds your expenses and you can spend the rest of your life without working. You can only achieve financial freedom when you invest for CASH FLOW but not CAPITAL GAIN The BUCKETS are CAPITAL GAIN investments and the PIPES are CASH FLOW investments (Illustrate the Bucket and Pipe Model) Your Pipe sizes determine your Cash flow Size. Invest in businesses that bring money overtime. The pipe should be able to grow overtime. PERSONAL QUESTIONS WHICH CAN ONLY BE ANSWERED BY YOU How old will you be at the end of the next 10 year? How many Assets will you own by end of 2030?
How much will be your cash flow from your assets every month by end of 2030? 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Key; Always work towards gaining an asset every 2nd Quarter, i.e. 2 assets every year.
