On 24th April 2025, the Uganda Professional Science Teachers’ Union (UPSTU) hosted an insightful ProDev Hour session under the theme “Personal Finance Management.” The session was tailored to equip teachers with practical tools and strategies to gain control over their finances and build a more secure future.
The discussion centered around a key question: Do you have a plan for your money, or do you spend on impulse? This formed the foundation for introducing the five pillars of personal finance:
- Budgeting – tracking income and expenses
- Saving – setting money aside for emergencies and goals
- Investing – making your money grow through smart channels
- Debt management – borrowing wisely and repaying consistently
- Planning – setting financial goals and creating roadmaps to achieve them
Teachers were encouraged to adopt the 50/30/20 budgeting rule allocating 50% of income to needs, 30% to wants, and 20% to savings and debt repayment. The facilitator emphasized the importance of automating savings, quickly clearing high-interest debts, and using SACCO services for responsible credit and investment.
To support these efforts, the session also introduced tools for money management, including budgeting apps like Rocket Money and YNAB, Excel spreadsheets, and most importantly, the UPSTU Members SACCO, which offers secure savings, accessible loans, and dividends through shareholding.
The new SACCO Manager closed with a powerful reminder: “You can achieve financial freedom with a good plan, the right tools, and consistent discipline.”
This ProDev Hour reinforced UPSTU’s commitment to not only professional excellence but also the financial empowerment of its members.
Stay tuned for the next UPSTU ProDev Hour!