There is life after graduation

By Sylvia Juuko

The graduation season is once again upon us, bringing with it the usual pomp and fanfare. For any graduate, parent/guardian, celebration is warranted to mark this achievement.

Like we all know, such celebrations bring a lot of financial pressure particularly if they were not planned for in advance. While it’s not my intention to rain on your parade, it’s crucial to remember that once all the dust has settled after the merry making, speeches delivered, drinks and food consumed, the graduates, guardians have to contend with reality.

On the other hand, you have a category of graduates who have been pampered all their lives. The parents have inadvertently turned them into children with lack of direction, work ethic and an entitlement mentality.

Irrespective of your good intentions of ensuring that you give your children their heart’s desire, if you do not do it with moderation, you are creating a generation that cannot survive without you once you cut the 'umbilical cord' of financial support.

Therefore, any parent would want to examine what kind of environment they have created for their children. If your child expects you to bail them out of all their money mistakes, you are not doing them any justice.

You will not only throw a graduation bash but also be expected to use your influence, to start harassing CEOs of companies to find him/her a job. Such expectations could inevitably cloud your child’s attitude towards work.

For the graduates, it’s important to exploit the networks and the friendships you have nurtured at the university.

From experience, it’s teaming up with such like-minded people that you can be able to start a savings or investment group. For example if you came together as a group during your stint at the university and saved some of the pocket money for investment, you would not be looking for a job but building onto this investment.

The right attitude is key to success. Have an open mind, value any opportunity that comes your way. For example, volunteering is important in cultivating experience. If you have a business idea, you can volunteer in an enterprise that falls within your area of interest.

Remember, learning has not ended at the university. Be open to learning particularly financial education throughout your life time.

The writer works with Bank of Uganda This email address is being protected from spambots. You need JavaScript enabled to view it.

(This article was first published in the New Vision)

Other articles in Sylvia’s Message

Money and emotions 31 July 2014

2014: Don’t get caught out by bad maths 31 July 2014

Time is not on your side 31 July 2014

Stop talking, act on your finances 30 September 2013

A word of advice to the employed 30 September 2013

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