University students have been urged to start small income-generating ventures, develop a culture of saving, and acquire practical skills as they prepare for life after university. The call came during a financial literacy fireside chat organised by the Emerging Leaders Programme (ELP) in partnership with Stanbic Bank Uganda at Makerere University, held under the theme "Grow Your Dimes, Build Your Hustle."
"That degree is very important — but it is not enough"
Israel Arinaitwe, Head of Personal Banking at Stanbic Bank Uganda, told students that a university degree remains important, but should be accompanied by practical skills and financial discipline.
"That degree is very important. Your parents, your guardians and your relatives have sent you here to earn that degree. That degree is probably what is going to help you get money. Or, better still, it is going to open your mind to new knowledge," Arinaitwe said. He, however, challenged students not to wait until graduation to start thinking about how they will earn and manage money.
Start the hustle now
Arinaitwe said students should begin small businesses or other income-generating activities while still at university, so they can gain experience in managing money, dealing with customers and handling the challenges that come with earning an income.
"I am in a hustle as well. My work is a hustle. It is a hustle. And as you start your life, you realise that the work and the life that you are looking for may also be a hustle," he said.
He also urged students to think beyond money as a means of meeting immediate needs. "You need money for dignity. You need that hustle for dignity because dignity will build your character. It will build your ability to get things done," he said, adding that financial independence gives young people greater responsibility, dignity and the capacity to support their families.
The sacrifice behind the degree
Arinaitwe reminded students that many families make significant sacrifices to keep their children at university, with the expectation that graduates will become financially independent and eventually support their families.
"Some of our parents have sent us here on sacrifice. Some of us are here because our parents have denied themselves certain things. And they expect that once you finish this degree and get a job, you will return or pay back the things they have done for you," he said, noting that the education of younger siblings can sometimes depend on the success of an older child at university. He encouraged students to consider how the skills and businesses they develop could create opportunities for other members of their families.
Save, invest — or rob your future
Arinaitwe encouraged students to develop a habit of saving and investing instead of spending all the money they receive.
"If you are not preparing, saving or investing in anything, you are robbing yourself of the benefits of the future. Not investing is extremely dangerous," he said. He also warned that poor financial decisions can derail long-term plans: "Money can become the source of distractions, the wrong business, wrong behaviour, a wrong group. These have the potential to destroy you and all your plans."
His advice for avoiding those traps: acquire knowledge. "The easiest way to get rid of all these is to acquire knowledge, so it can help you understand and get wisdom and experience," he said.
Institutional backing
The Emerging Leaders Programme is a values, character development and life-skills initiative associated with First Lady and Minister of Education and Sports Janet Museveni. It focuses on helping young people develop values, character and practical life skills, and was piloted among students at Makerere University.
Dr Winifred Namuwonge Kabumbuli, Makerere University's Dean of Students, welcomed the initiative, saying students need more than academic qualifications to succeed after university. "University is not only about academic achievement. It's not only about academic qualifications. It is also about growing skills, knowledge and the mindset to navigate life and our places of work," she said.
Makerere University Students' Guild Speaker Trevis Mutatiina Muhwezi also welcomed the engagement, saying it allowed students to discuss financial management, personal development and the challenges they are likely to face after university.
Source: BBEG Media (bbegmedia.com) — "Stanbic Uganda urges Makerere students to build hustles, embrace financial discipline," as syndicated via Opera News. The original article and photo are © BBEG Media.
