Scores of young university students received training over the past weekend on the importance of having a healthy relationship with money. During a presentation led by Barclays, Consumer Credit Director, Fergus Ferguson Barclays employees provided young men and women with a lesson on effective money management.
“Live within your means and don’t feel obliged to follow your peers when they indulge in items that they cannot afford. Also remember that your partner is not a source of income – it is their money not yours. There is nothing more liberating than financial independence!” said Fergus.
“Nurture it, cherish it and grow it!” were words echoed by the team who thronged University of Botswana at the invitation of the African Women Leadership Academy during the commemoration of the International Women’s Day.
Kushata Chilisa and Mpho Tlhong reviewed key issues around savings, interest and insurance and emphasized the need to start saving from an early age to establish the initial stages of developing a solid and respectable relationship with money.
In his conclusion, Fergus said the world remains dependant on women for many things including the prudent management of money, reminding them that Botswana has changed and have moved from a time when everything was freely provided by government including health care, education and land to one where everything has a cost.
He advised the young people to ask questions and request information with regard to any facility or loan that they wish to take to ensure that they have a full understanding of what they are signing for. “Protect yourself by understanding all the requirements and obligations of entering into an agreement to access a loan. It is absolutely critical.”