REFLECTION

We have come to the end of our semester and these are my personal reflections. At the beginning, I felt bad about the blog issue as I was new to it and so it as an extra work for, coupled with the fact that I joined the course three weeks later. My course mates who were to tutor me, were making matters worst for me as they were reluctant to do so. I joined wordpress but I was not getting anyway. Things changed when I began to use blog spot, where I started getting ever increasing views which motivated me to do more as it is an indication that people are interested in my ideas. Also, thanks to this blog, I feel happy that at least I have learned how impact the community-my long standing dream. I can do this not just by going to them physically but also by sharing my ideas to those who are interested in making a difference in their own community. But to be honest, updating my blog every week is somehow tiring but with determination it is possible.

FIELD WORK

This week, we brought in some people (about 35 in number) who we deemed needs financial literacy knowledge on campus where they were given the first-hand knowledge they need on financial education. The bank agent who was the main speaker, drilled them on how to get funds, manage such funds, save and repay loans. I equally spoke to them about the necessity of  generating a business idea which should be based on a realistic approach on what they can do rather than what they see others doing, before going for the funds at any micro finance institution. This is so as it determines their success. All the same it was fund, we gave them some refreshments, took some snapshots with them and departed happily. The following are some of the snapshots we took;

WEEK 8 FEEDBACK OF CHAPTER 8

Chapter 8 talks about savings and the poor. According to the chapter, the poor tend to save less due to some factors beyond their control. The reasons for the low rate of saving among the poor is due to lack of finances, the poor do not have a regular income which will sustain them to the point they will have excess to save. Also, they lack access to saving accounts in financial institutions. In addition, the fact that the poor tend to pay very high interest rates to their money lenders, thus leaving them with little or nothing to save. Again, discouragement and loss of hope equally play down on the poor’s ability to save.

  The psychology of saving and the poor suggest that the poor are willing to save but the fact that they keep the money at home makes it possible for them to spend it easily on some “tempting goods” such as alcohol. Also, saving is less attractive tom the poor because the goal is far away (discouragement) as well as the fact that the poor live with a lot of stress which hinders their ability to take good financial decisions.

A way out for the poor is to motivate them and give them the assistance (morally, materially and financially) which will pilot them out this poverty trap.

TED TALKS.

Rafaello D'endrea provides us with an astonishing way of projecting human creativity and Innovations that will better our lives. He does this by using the techniques of the quadcopters which can perform things we even thought were impossible to do, to the point of going against the known physics laws. For a better understanding, it may be worthwhile watching this video;

https://www.youtube.com/watch?v=w2itwFJCgFQ