Newton buteraba house 🏡 of wealth. Topic is. Money questions and answers from professor!

Lectures from professor Newton buteraba of house 🏡 of wealth Answering all money questions from the followers........ Watch the space 🤔 Note : whenever you go for purchase, make sure you get profits during purchasing time not on sale time Eg. In cow business, One must know the food chain of the business. You hv to know seller, blockers /dealers, butcher, and customer. You must hv all above pple in your head. So if you make loss at first it means that you will end up with loss at the end of the chain *( olina kunyigiriza gwosubulako ente) 🔷 Remember. You always told me that business losses are the best life evaluations. And don't quit becoz of loss done at first that is the fees to pay for the lessons in that business just repeat the business and make sure don't make the same mistakes. Qn 1. Which bank is good to save my money in uganda? Ans. All banks have mandate to keep pple's money, it's you customer to do survey and find out which bank is suitable for your goals /needs. Becoz they do same business but in different ways 🤷‍♂️ such as Accessibility, distributed, networking How easy is access to your bank you choose like 🏧 availability some are good in money transfers good in loans good in keeping your money (Buli bank erina kyesinga kujinayo Kati choice yiyo) Be investor, business man, money minded do not just keep money in bank. its better for one to choose bank to work with consider your goals, Ask qns on your favor before you choose. Bank must reach your goals and it's you to weigh though doing surveys and asking qns. Qn. 2. How can we keep our records systematically? Ans. Keeping records systematically means put records into system. on How . we use quick book is an accounting software very good in keeping records. But you have to make sure that all records you keep in computer 🖥 must be on paper / on documents so be with receipt book for business will help you in stock taking Be with another book for purchases and sales plus that of store. 🔷 On purchase time, enter records into purchase book next is store book and on sale please record in sales book. Monitoring is also required here. Then from there you can bring in computer 🖥 paper work is more important in business. It can be used as back up system incase of any faulty in computer or affected by virus Also you can backup Data into i cloud servers. Qn. 3. How can one best overcome procrastination? (okwongezayo). Ans. 1. Be with pple that will help you to remind you and they must be serious on deadlines. So work with pple, company that will demand for service. 2. Write down to do lists to overcome boredom on some works. Also you can work with pple to help you do those boring works on your do list. 3. Prayer. Pray to those resistance power are making us to loss time because the more you postponed is the more you loss time. You can pu laws like "you don't postponed tomorrow what you can do today." Qn. 4.what is the best way to invest in post covid error? Ans. It depends on many things and different. 1. Best way is to look for things you know or you understand. if you don't have an idea on that thing please get some one that knows it to help you so that you overcome losses that might come. 2. Go slow and put little in business (you know) and if you don't know that business make sure you have somebody knows it on your team. if not please leave it until u get one person that knows. 3. Have limits on money u want to invest ie 10, 20 or 30.ie If some thing needs 5m to start, u can start with 500k and see the results first. For 10 m start with 1m atleast. Qn. 5. Can your wife be your business partner? Ans is. Yes and No For yes.. How? If your wife is business oriented, have desire into that business, she can be your business partner. If not let say she is career driven, it might be difficult to be your business partner. Why? Business partner must know business very well. Becoz business most of time starts with rotting /losses Business partner must agree on losses and profits and partner must be aware of anything that might happen any time. Mostly when wife is a business partner and loss comes in, this might affect the relationship in household. If one is not strong 💪 enough and love the relationship might end due to one loss made in the business. so for those who want to put wife/ relatives in business, Bring on them on levels which is acceptable! Let say, if you decided to start up something (business) with your wife, don't let this wife to invest all her saved cash into that business. Reason is, if anything happens and the business not work as it was expected, there will be quarrels in household even it may lead to break ups. Make sure that if your wife have 2m as savings, let her bring aquator from that 2m, so that if anything (loss) comes in she will not be mor worried about it. *so your wife can be your partner it depends on which level does the wife board into business...Continue #Houseofwealth