 Welcome back. This is still wine the morning and we are on to our first conversation today. We are talking about financial literacy. Well, most of us have made some bad financial decisions probably because we don't have the right education around this area. That's why we're talking about it today so that we know how to handle our money to be great stewards or if you like great managers and with us to help us with this particular conversation is Roger Scowich who's an entrepreneur and a young farmer. So welcome Roger. Thank you so much. You're glad to have you. So tell us a bit about what you do because I know you do more than you know being a young farmer you're more than a young farmer and an entrepreneur so give us the details of it. Thank you. My name is Roger Scowich and as you've heard Roger is an entrepreneur. I founded a company called Okua Solutions which does consulting on organic farming and also selling of inputs. Organic farming and also I'm an agronomist and apart from that I sit in a committee root to food alliance and most importantly I'm the co-founder of SkillUp Inspire which has led to this conversation. SkillUp Inspire yes we'll get into that in just a bit and you're also a founder of? A founder of Okua Solutions and a co-founder of Tawibora Group Limited which is a group of eight. So what do you do in Okua? That's new. Tawibora. Okua and? Tawibora. So what do you do? Okua is basically consulting and aggregation of inputs to farmers. Tawibora is the wing that deals in manufacturing of organic inputs. Okay yes. So let's get into our topic of today financial literacy right so what is how would you define financial literacy? Financial literacy according to me is having that basic knowledge and being able to make informed decisions about your finances. For example you cannot spend what you don't have so there's the money part of it and there's the consciousness part of it so there are the basic components I mean before you start spending you have to earn and earning boils us down to income income there types of income yeah yeah the rental if you have a property you rent you get the rental income they are wages they are salary there is there are so many types of income yes income sorry then we go to the next part you have to spend how are you going to spend it are you going just to buy like you go buy and mazinger you don't have to do that you have to write a budget. Okay and we'll get into the steps of how to handle your money but first would you think that we have enough awareness on how to manage our finances especially from a younger age do you think we have enough awareness? From the young age I don't think we have enough awareness because the kind of curriculum that we use in this country we are told go to school and study you don't know how money is managed. Our parents didn't really involve us in money matters so you don't know how to use it because you want to know how to be a good manager right yeah that's why you find that poverty keeps on creeping each and every day. So what should we do what should parents do? Are my young youth you know who are parents we have young parents out here so what should we do difference to ensure that we are in the right lane? I think the first thing that the youth or any other person could do is that get yourself to that to that table to discuss financial matters with your kids tell them that you need money you have to do this you have to go this way you have to you have to work for your money that you want. You have to work for the money that you earn you don't have to steal it from someone. And then after getting that money how do you help them know how to spend it because that's where the problem is because we have we have a lot of financial mismanagement. Yeah I think the first step is maybe as a family I'm also a father I didn't mention that yeah so what I what I what I will do is when my son grows up is now one and a half years when he grows up I'll be involving him in matters finance if we are doing budgeting as a house we need to buy food we need to do this those are fixed fixed expenses we have to use we have to sit on the table we have to draft a budget he has to see the importance of that budget okay and with that he will appreciate and the future generation of his will follow that okay so and I asked her so what do we draw the line between when you are on a to it a spend theft and then the you know the stingy and then now the good financial money is me how do you draw that line when I draw it up I am being a spendthrift how I am being a stingy person how I am spending my money visually a spendthrift by my understanding allow me to use you please feel free and stingy person according to me is that person who doesn't want to spend on the right purpose okay he just want to keep his money how how will that help you don't want to invest in a property you don't want to invest in something that's what I define as a stingy person so the right person knows how to create your balance yeah creating balance between what to spend rightfully of course there is fun you can have fun with a little and you also include it in your budget have the receipts also that I have spent this and this and how am I going to recover them afterwards okay so so he I tend to bring to your point here you know we all have different mindsets about money why why is it as in why is mindsets mindset important uh on you know financial issue finances rather okay maybe I should correct you first there's no one who has a bad relationship with money okay yes all that but um maybe what you have said is right different mindsets about money you need the money to do what maybe you don't have a plan for the money that's why you have to have a plan then you're saying that I need uh like in the next 20 years I need to be to be having this and this but not that you you want the money one day you what you have to do is to have that plan the future plan then now have the plan where you can start slow slowly yeah that's what entrepreneurs do all right we'll get to take us through that plan that we're supposed to have because we want to know that you know that uh those fundamentals are what the principles of having you know for someone who wants to start this financial literacy journey but first let's take a short commercial break and we'll be right back