Wednesday, August 27, 2008

Seminar in Port Moresby, 15-16 August

I have conducted "7 steps to financial freedom seminar" for Hastings Deering 10 times now. Each session is different, and the more I have done it, the more I have learnt myself. I have gained a lot of insight into the financial lives of the participants.

One of the most enjoyable sessions for me was the last one in Moresby, which involved company employees and some of their spouses. People were more open in discussing their experiences especially at home. One thing that stood out clearly was that many people are secretive about their fnancial affairs in their homes. Where the man and the woman both work, it became clear that not many couples knew how much the other party earned, how much they had in their accounts, what financial commitment they had, etc. As a result, money-related disputes and disagreements were common.

In addition to that, children were left completely in the dark as to the financial positions of their parents. This ignorance on the childrens' part resulted in the children coming withtheir needs and demands, and when these are not met, they hit back in many different ways. The overall result is that working family face many problems at home, despite the fact that the husband and wife both work and even earn a lot of money.

It also emerged that not many working families have financial goals to guide how they manage their money. It seemed that money is for spending only, not saving and investing.

ne of the participants reported that she used to spend between K30 and K50 a day on betel nuts. She was so addicted that when she did not have buai in the house, she would force her husband to take her to a street seller at odd hours in the night. If he refused, she would put up a fight. All her money was for her and her buai. This went on for many years until she read my book "Young Money". She realised that she had been wasting alot of money (we worked it out to be around K11,000/year, based on K30/day x 365 days)! Now she spends only K1 per day.

I was so glad to hear that. At least one woman and her family have been positively impacted by the book. I told her that now, instead of spending the money she used to spend on buai, she should save it. I assured her that she would have a lot of money by the end of the year.

I hope that she does not return to her old ways. In fact, she testified that as I was taking them through the seminar, she had started imagining what she would be doing with her money. She told me that she even imagined starting a business back in her village. I trust that she follows through with her plans, and really wish her God's blessings.


Anonymous said...

Hi Tiri,

Wanpla askim tasol, hau mas bai ol baim dispela buk bilong yu: Young Money?


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