Young people have shown great dedication and commitment to what they are being taught. They have joined the business world and have taken it to another level. Nurse Moyo and Kwanele Moyo from Sankonjana village Ward 1 are some of the many who have made it and have shown that nothing is impossible as long as one is dedicated and committed.
These young women make and sale jewellery using beads and they lend some of the community members money, which is paid back with interest.
They are about to start market gardening with the other peace corner members namely Milton Ncube, Siphiwe Dube and Ntandokababa Ngwenya.
Have you ever felt like the money in your pocket is not enough to buy all the household groceries? Do you always have trouble in spending more money than anticipated?
The first step in managing your money is to know what you need money for, such as necessary expenses like food, clothing, school fees, expected events and emergencies which, are classified as “money needed for the family”. In business, money is needed for debt payment, business supplies and rent. It is important to classify family and business expenses because they help one to plan and set aside money for expenses that do not occur regularly.
It also helps one to save and postpone other purchases until there is enough money to buy them. Before purchasing anything, it is important to start by writing down what you want to buy and how much it will cost and whether the money you have available is enough for the purchases.This is the first step in learning how to budget.
A budget is the total amount of money allocated or needed for a particular purpose or period.
Steps to develop a budget:
In reviewing your financial goals, it is important to start by writing them down. Look at the set period, for example, if by the end of November you want to buy a stove, will you have enough money to purchase it from your income? Estimate the amount of income by source. This means knowing the amount of income one will get during the period of budgeting.
After this, the next step is to list all your expenses and amounts needed by starting with what is needed most and the cost of it. After listing the expenses, make sure they are not more than the money you are willing to spend. However, if they are more costly, adjust them according to the money available.
The next step is to decide how much you will save. Consider what you seek to achieve, for example, you may decide in April that you want to buy a solar lamp by the end of June and how much is required to set aside to purchase it. When all this has been done, review and adjust everything to fit on the budget then you are good to go.
