The Akamai Global Money Page

T hey were seated at the back of the commuter bus, commenting on anything they sighted. Then one of them saw a taxi on Kampala road and told his colleague, “Say how about if we went to Dubai and bought ourselves a taxi to operate?” Without missing a beat the colleague responded “With my high level of education I cannot stoop so low as becoming a taxi operator, I will get a well paying job.” His confident and almost arrogant response set me wondering whether he had ever come across the notion of financial freedom. The second man was certainly well schooled in the concept of exchanging time for money, the thing we call a job. His colleague on the other was trying to break into a new realm of thinking, a situation where instead of time for money one can have both the time and the money. The common definition of financial freedom is the state where an individual or household have sufficient assets or investments to meet their financial needs for the rest of their lives, without any ...

In Uganda there is a term which is very common with the employed, "trying to make ends meet." During the first 2 or 3 months of employment, the employee is usually able to live on their salary until the next pay day. As the months go on the employee's cost of living increases and the money there are earning is no longer sufficient to cover the cost of living until the next pay day. This creates a situation where there is more month at the end of the money, hence the effort to make ends meet i.e. to have the salary cover expenses until the next pay day. This predicament is explained by Parkinson’s principle which is one of the best known and the most important Principles of money and wealth accumulation. It was developed by English writer C. Northcote Parkinson many years ago and it explains why most people retire poor. This principle says that, no matter how much money people earn, they tend to spend the entire amount and a little bit more besides. Their expenses rise i...