By Joy Mukisa
In Proverbs 13:11, the bible says that: “Dishonest money dwindles away, but whoever gathers money little by little makes it grow.”
In this context, we learn that the Bible also encourages us to save, meaning saving is a virtue. We are reminded not to be wasteful with financial resources.
Before we dive into saving, let us first recognise World Savings Day.
Have you ever heard of the World Savings Day? If yes, have you ever asked yourself what the World Savings Day is all about? Well, the World Savings Day is an annual event held every year in recognition of saving.
World Savings Day, also known as World Thrift Day, is celebrated annually on the 31st of October. This day is dedicated to promoting the importance of saving money, financial literacy, and responsible financial planning. World Savings Day 2024 is celebrated to focus on the importance of saving money by individuals for the future.
Saving plan
Some of you may have started saving money or some of you are thinking about saving money. You should know what you are saving your money for? It is important for you to have a money saving plan! If you do not have a money saving plan yet, here is an exercise to help you to develop your saving plan.
Get two manila papers, an old newspaper, a piece of paper, a pair of scissors, glue and a pencil or a pen. On the old newspaper, draw shapes of at most five different items that you would like to buy or save money for. You can draw a shape of a dress if you are girl, a pair of shorts if you are boy, a school bag, shoes, watches, or any other item that you would like to buy. If you want to save for only one item, only cut out one item.
In the next step, find out how much each of those items you want to money save for cost and write down the prices on a white piece of paper. Next, get the manila paper, pen and some glue. Draw a large table of three columns and seven rows on the manilla paper, similar to the table below:
MY SAVING PLAN: MY NAME: __________________ DATE: _________________
| No. | Item | Price per item, in Uganda Shillings | How much money will I save for this item every week, in Uganda Shillings | For how long will I save | Where will I get this money from |
| Example: | 50,000 | 5,000 | 10 weeks | For Example: My parents, My guardians | |
| 1 | |||||
| 2 | |||||
| 3 | |||||
| 4 | |||||
| 5 | |||||
| TOTAL |
Stick each of the items that you cut out onto the manila paper on the left side under the column of ‘Item’, one item in each row. Write the prices of each item in the row next to each piece that you cut out in the column of ‘Price’. Add the total of the prices and fill the space of the Total.
After filling the table, this will be your saving plan.
A saving plan includes the item that you are saving money for, how much it costs, how much money you are going start saving every week and how long it will take for you to save enough money for that item.
Place your saving plan in a place where you can see it every day to remind you of your plan. Discuss this saving plan with your parents or guardians and start saving your money according to your plan.
On the second manilla paper, you can draw your saving card according to the table below:
Saving card
MY NAME: __________________ DATE: _________________
Amount that I will save every week for this item – Fill this table each time you save money for this item according to your saving plan
| No. | Item | Wk1 | Wk2 | Wk3 | Wk4 | Wk5 | Wk6 | Wk7 | Wk8 | Wk9 | Wk 10 | TOTAL |
| Example:Dress or Pair of shorts | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 50,000 | |
| 1 | ||||||||||||
| 2 | ||||||||||||
| 3 | ||||||||||||
| 4 | ||||||||||||
| 5 |
NOTE: You can save your money in a saving box until you complete your saving plan, then ask your parent or guardian to help you to buy that item or items for you.
The writer is a volunteer at Private Education Development Network (PEDN).
