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The power of team work
Youth share ideas on how to manage their finances in Kampala. FILE PHOTO
What you need to know:
When two or more people come together to save for a common goal, chances are very high that it will be achieved Annet Katusiime writes.
Working as a team is the greatest way to achieve tremendous mileage at work, in personal lives, groups and communities. To achieve more, teamwork is greatly needed in every aspect. That is why most company profiles have team work embedded in the core values.
Despite the challenges of bringing different people with different Ideologies together, it is important to focus on the strengths and benefits team work can contribute to a person’s lifestyle and other team members.
Football teams that work together are bound to win together as opposed to teams that rely on individual brilliance of a single player.
Let me relate team work to financial management and highlight some of its benefits.
This takes me back in the days when growing up. Our parents used to give us tasks and the only way to perform best was by working together.
How does this relate to personal finances? Most individuals in Uganda have failed to achieve their long-term goals because they think they can do it on their own and yet if there is a possibility of working together, more would be achieved. For example, when a group comes together with an idea; some members can support with the resources while others can use their skills or talent to develop the idea. Therefore, implementation and performance work together if all the members align their talents, skills and resources towards achieving the set goals.
Team work brings together strengths of various people into one force of impact. When two or more people come together to save for a common goal or idea and put all their strengths and resources towards achieving that goal, chances are high that it will be achieved. SACCOs in Kenya have members owning the highest percentage of the transport sector.
Germany has also developed because of supporting its population to join cooperatives as a way of strengthening people’s capacity to use financial services.
At family level, husband and wife should team up in saving, investments. They also ought to be open about their financial positions to each other and devise ways to cut or reduce expenditures. This will improve household incomes.
Additionally, children should be nurtured on how to handle money matters as they grow up.
Working together enhances better accountability to utilise resources well.
However, without accountability it is hard to monitor and evaluate the performance of each partner.
Teamwork and financial management in Uganda has also been exhibited in many investment clubs formulated for specific goals. These investment clubs hold the biggest funds portfolio in most financial institutions in Uganda such as dfcu, Centenary and Stanbic banks.
As we start June and cross to mid-2018, identify one or two people in your life to save, invest or develop an idea and work as a team because: “Two heads are better than one.”
Annet Katusiime is a certified financial literacy trainer: [email protected]
