During a financial literacy course organized by Uganda Cricket Association for its fraternity, financial literacy coach Livingstone Mukasa advised cricketers that fame is not wealth.
The zoom session that was moderated by the CEO Uganda Cricket Martin Ondeko invited Livingstone Mukasa the CEO of Mazima Retirement Plan Scheme to give financial education to the cricket fraternity.
The severity of the Global Pandemic of COVID didn’t spare the cricket fraternity with clubs and players hit financially, therefore there was a need to educate the fraternity on how to crawl out the situation but also look ahead.
The session mostly focused on individual lifestyle skills that can help players and officials live financially independent lives. Mukasa advised players to stop living beyond their means because they are well known because fame doesn’t translate into wealth.
Fame is not wealth, therefore players should not think that because they are famous they are rich.Liivingstone Mukasa
Mukasa also strongly advised players to look out for themselves and their families before spending lavishly as a way of showing off to fans. Since the careers for cricketers don’t last a lifetime, he advised them to make sure they save enough during their fruitful days to make sure they can live comfortably at the end of their careers.
The two-hour zoom interactive session was well appreciated by the fraternity with a lot of individuals thinking the session was long overdue. With the fate of many former players uncertain the session was timely in helping them plan for their futures.
Mukasa gave some principals with which players can live that include diversifying their income streams, improving their knowledge through reading material online, learning new skills every year, and the most important three steps earning, saving than spending.