Am so grateful for the training we were given – Module I: Understanding Poverty in Rural Uganda of CPAR Uganda’s project, “Mentoring Young Adults into Innovators against Poverty.” If there is something I really lacked then it was a saving culture.
How I wished I got the knowledge before completing school, am sure savings from my pocket money would have done something for me at the moment. I wasted money. But, as they say: better late than never.
Members of a CPAR Uganda beneficiary group in lango sub-region during a sitting of their village savings and credit group members.
I have learnt to save. I had a small job for less than a month before lock down ruined it. And from my savings, I was able to purchase two piglets and they are doing good. I don’t think I’ll ever waste money again. Thank you once again CPAR Uganda.
By Acen Mercy, Innovator
CPAR Uganda Ltd 
25 responses to “Learnt to save, will not waste money again”
Saving is a tool to fight poverty but before I didn’t know that someone can do better even when you dont have excess money to save but I learnt it from my own experience when I started my small business of selling second hands clothes and from friends who expanded their business through saving culture by saving the little you get rather than spending it without planning for it.
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Exactly Vicky, exactly.
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I have learnt how to save money and I have given a task to myself that I have to save 200,000 shs every month no matter what comes.
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The knowledge on saving has made me to stop unnecessary spending. I remember those days i used to paint my nails at least twice a week and each was 5000 shillings, so every week, I would spend 10000 for my nails .I a month, it’s 40,000 and in a year’s times, I have spent 480,000 on painting my nails which I could have saved. I decided to learn how to paint my nails myself and buy those paints which is very cheap you can imagine the paint I just 1500 shillings which i could spend 5000 . So i no longer waste money because i budget and plan first and i stick to the budget at all cost .
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Ha ha ha ha ha and now the cost of painting nails has gone up. Great also from learning how to save you are also learning new skills of painting your own nails and therefore saving by avoiding expenditure for the things we can do ourselves. Powerful lesson this is Ann.
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I worked with plan international for a year but I didn’t save anything even when time for me to come home came. I didn’t even have money for transport. Instead I called my parents to send me transport money. That was the time I became so ashamed of myself. I didn’t even learn a lesson because even when I opened my saloon business my saving culture was still poor because I remember when I checked my record book after attending the first training on mentoring program,I realised that my book was saying I had made 800,000 in a month but I didn’t have the money in cash. But I learnt to have money discipline and save from every penny I get from the business.
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Great learning Dorah. Thank you for sharing.
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After the mentoring program of module one understanding poverty in rural Uganda I learnt the advantage of savings just as Acen mercy did and the little money that I made from a school before lockdown I realized that my problem was not only saving but also how to spend it too, i would just throw money without accountability but from the mentorship program I stopped doing misdirected priorities and from my small business which I operate I am able to save and I believe that the money am saving will help me to purchase a plot of land by the end the year I have also been able to contribute towards my business instead of borrowing a loan I just pick from my savings and the I replace it back.
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Thank you for sharing this Sharon. Saving is important, but also the way in which one uses their savings is important. What is the point of saving if you are going to “throw money without accountability.” Powerful learning this is.
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The mentoring program made me to realize that saving culture is a very good practice that helps one to achieve the future dreams, after a fellow innovator Sharon Enon helping me to understand the first module that was understanding poverty in rural Uganda i learn how to save, with the little resources that I have I do ensure that I don’t spend it all but in other wards I do save through the bank and also in the VSLA groups around where I stay and on top of that ever since I learnt that saving is a tool for future development I do make my budget before spending not like I used to do before learning the module of understanding poverty and in most cases I would just end up buying unplanned things making me not to have any progress in my life but now I see a lot of changes in terms of increase savings and stocks for my small business of second hand clothes since some times injecting more money in this business is also one way I do my savings.
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Two things we like about you comment Vicky – that Sharon has helped you to understand the material from the first module of our mentoring programme; and that you are putting what you have learnt into action! Well done to you both and keep on walking …
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Sincerely, just like Acen Mercy, I also did not have the culture of savings. But after the first module of understanding poverty in Rural Uganda, my savings culture was built and I am doing the savings now and am not lagging behind any more. Any little money I get now, there is a percentage that I save and I have told myself to avoid unnecessary spending. I am now applying opportunity cost theory
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I appreciate Acen Mercy for her testimony on savings! I love saving and on many occasions I have achieved many things through saving money. I have also learnt much that its through saving that uou can realised your dreams, during the first covid19 pandemic lockdown of March-2020, I already had some savings and kept on saving more from my computer business which late made me to buy my second hand motorcycle to ease my movement and serve my customers better.
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Yes, James, savings is the most sure way in which we can obtained finances and capital to enable us to fulfill our dreams!
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Actually I also used to thank that it’s only salary Earners who are supposed to save meanwhile those on small business do survive on what they earn for that day since they get is too little to be saved. I have now learnt that every thing one sees big now begins from small. Meaning, whatever little income I get , I need to save part of it in order for me to get to another level “begin small and grow big” this is only possible through savings.
Unless I have learnt saving culture I won’t make a difference in my life.
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Yes, Robert, small is beautiful! You start small and grow from there , one step at a time.
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My sister your testimony is courageous
I also din’t know that saving is very important and can make u achieve your dreams
I have been hearing people talking about saving and I thought it’s only working class or salary earners who can do saving.
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Yes, Sarah, we agree. Mercy was courageous in sharing from the heart. And has inspired many.
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Before joining the Mentoring Programme, I used to give first priority on paying of bills like electricity it’s like every months I used to pay Ugx70,000 on the Umeme account of which after clearing the bills my pocket remains empty but after the training on Cash Flows Preparation and getting to know the practical difference between cash in and cash outs, whenever I get money the first question I ask myself is, “What income generating project can I invest this money inorder to earn me more profits?” At this very moment with the knowledge that I got from the Mentoring Programme, l opened up a shoe business and of which now, l do use profits from my business to pay such bills like Electricity. Indeed knowledge is Power.
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Thank you for sharing this Ezra. Great learning for me as well. Look to first invest in income generation in order to raise funds to pay for non-income generating necessities.
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l have also wasted a lot of time and money on things which have not helped me to generate more income for my future, things such as buying clothes for myself have not helped me to save money.
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Thank you for sharing Stella Rose ha ha ha, but clothes are a genuine need. You need to have some, but perhaps not too many.
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Initially, I did not have the savings culture. To me, saving was for only the rich people because they had extra money that did not have use.
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[…] done something for me at the moment. I wasted money. But, as they say: better late than never,” wrote Mercy Acen after participating in the training for our first module, “Understanding Poverty in Rural […]
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As a young adult , I have very many needs like buying designer dress like other campus fellows, outing continuously as it seems the routine among my age mates , eating the international animal ( pork) quite often and education, health etc and infact most people ask me where i take the money i get as i don’t go out and I complain that i don’t have money. And all those needs are to be met .I am left to decide between education and misdirected priority .
The trainings I received from CPAR UG LTD has helped me to plan and Budget and let alone that, has helped me to make better decisions in life as in I know which need to attend to first and which ones i can do without and that has saved me the burden of having to borrow money elsewhere or opting for loans.instead i spend in essentials if necessary and save the rest to cater for me education.
My journey as a student is a life time saving .
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