Financial Literacy
As part of its mission to strengthen business skills and financial literacy capacities of youth and women, Mihama Development Initiatives (MDI) organized a hands-on training focused on financial goal setting, savings and investments, budgeting, and record keeping. The training aimed to help participants better manage their small businesses, grow group investments, and build pathways to economic self-sustainability.
Over two days, 60 participants, both men and women from various community groups learnt practical skills to make informed financial decisions, plan for the future, and network with others facing similar challenges. The impact was immediate and personal. The following stories illustrate how the training has already begun to transform lives and livelihoods.
Success Story 1: Turning Milk into Money – James’ Financial Breakthrough
Before the MDI financial literacy training, Musinguzi James, a member of the Dairy Farmers Group, had six healthy milking cows, but no clear idea of how much income they generated. Despite producing milk daily, he found himself paying workers out of his own pocket and never tracking sales or expenses.
During the training, James learned about budgeting, record keeping, and planning for both income and expenses. For the first time, he realized that his cows could pay for their own upkeep and even generate surplus income, if managed strategically.
“I didn’t know that if I planned and budgeted well, the cow could pay for its own expenses,” James shared. “I’m now going to track and record milk sales and expenses every day and every month.”
Armed with these skills, James has started recording daily milk sales, comparing them against feed and labor costs, and setting aside a portion of the profits for savings. By applying simple financial discipline, James is transforming his dairy farm from a break-even venture into a self-sustaining business and opening the door to long-term growth.
Success Story 2: From Impulse Spending to Smart Saving – Edwina’s Mindset Shift
For Ateenyi Kiiza Edwina Byaruhanga of Sammy’s Group, money used to disappear as quickly as it came in. She didn’t budget, had no savings plan, and spent freely without distinguishing between needs and wants.
The MDI financial literacy training changed that. Through sessions on goal setting, budgeting, and savings strategies, Edwina discovered how small adjustments in spending habits could help her achieve big dreams.
“I always spent money as it came in,” Edwina admitted. “I also didn’t know the difference between needs and wants. Now I realize wants were finishing all my money unnecessarily. I have learnt that goal setting is critical.”
Today, Edwina keeps a simple budget, prioritizes essential expenses, and channels her surplus into savings for future investments. Her new financial discipline is helping her move from survival mode to purposeful planning, and she’s already inspiring other women in her group to follow suit.
By investing in basic financial literacy training skills, MDI is fostering the empowerment of underserved communities, directing them toward paths of inclusive growth and self-sustainability.
