DR EVANS Duah, Finance expert and lecturer at the Apenteng Appiah Menka University of Skills Training and Entrepreneurial Development(AAMUSTED) says the notion that being rich was something magical was a fallacy.
He noted that being rich is an intentional act which is backed with a firm discipline.
Addressing a business forum organised by the Students Representative Council (SRC) and the Business Department of the University on Thursday under the theme, “Building Our Financial Future”, Dr Duah said everyone who had become rich started with an idea or thought which they nurtured and fed over time so it could yield dividends later in life.
“Being rich is not magical but something done with an intention and discipline for most of the wealth accumulation comes with a savings and investment culture”, the finance expert stressed.
He therefore urged the students to learn to save money early in life and build themselves up to get the riches they desire.
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On his part, Mr Paul Kofi Mante, Managing Director at Ecobank EDC said just like the sowing and reaping principle in the Bible people who took time to nurture ideas and turned them into businesses became successful.
He noted that business ideas are like seeds sown on the ground and the only way to get the seed to germinate and grow was to constantly water and maintain.
Mr Mante advised that while in school students who have ideas could nurture same by saving small monies to set the ideas into motion and keep it growing by a disciplined lifestyle.
“A business idea is all you need to start and then you save to put the idea into action as you make a determination to stick to the principles that would grow the business and even though big returns would not come early yet with patience one would see multiplication of returns on their investments”, the expert stated.
Professor Yarhands Dissou Arthur, Dean, Faculty of Applied Sciences and Mathematics Education who chaired the Financial Prosperity Summit urged students to put into action lessons they had learnt at the summit.
Narrating with pain, he recalled how he had some thousands of dollars after he finished university in the early 90’s but had no business ideas.
He wondered how much he could have made if he had invested the money in the right business or investment venture.
“You have the opportunity to become rich with these ideas you have gotten from these experts and when you learn to save more than you spend you are on your way to becoming rich in the future”, Mr Arthur advised.
Story By Michael Ofosu-Afriyie,