The key pillar of a financially secure family is a strong discipline in all aspects of money management (Photo: iStock)
Building financial security starts with financial literacy. It shapes how families earn, manage and grow their wealth over time.
According to financial literacy expert Patrick Wameyo, families must develop the knowledge and skills needed to generate and sustain wealth. He notes that wealth created without a repeatable formula is difficult to preserve across generations.
Financial planning helps families to set clear priorities, develop the right skills and attitudes, and make informed decisions that support their long-term goals.
“The key pillar of a financially secure family is a strong discipline in all aspects of money management. Then passing those skills to younger generations helps ensure that financial security grows through generations,” he says.
