Bernard Nyaga Njogu is the Head of Sales at Scope Markets Kenya, a non-dealing Online Foreign Exchange Broker licensed and regulated by the Capital Markets Authority (CMA).
Online trading is a new market in Kenya. I am privileged to have been part of the team that pioneered this new industry. Providing a platform where clients can get good returns on investment has been deeply satisfying. My journey has not just been about wooing clients. I research, educate customers and offer reliable customer support.
I had problems managing money in my early life. I would spend more than save. Many people, and especially those starting off their careers, have difficulties managing money, saving, investing, and spending. There is also a deficiency in the way people view money. Money is not an item you can just pick up on the ground. If it were, get rich quick schemes would not be the scams they are today. You must work smart and break sweat to eke out a coin. Pressure makes diamonds.
Avoid the ‘Ostrich Effect’ if you want to grow your money. Follow a lifestyle that allows you to save and invest. A good example is when you do not want to check your account balance after a night out with your drinking buddies or after a shopping spree because you overspent.
What would you choose between business and employment? First, you need to determine the value you will get from either. You will need to know yourself and be honest about your capabilities. Don’t just stick with business when it is least suited for you. There are other multiple forms of employment and passive income activities that can give you more money and the satisfaction of delivering value to other people.
I save with a goal in mind. This is more of investing than just putting money away. In the financial markets today, there are multiple opportunities you can invest in that will give you good returns. These include precious metals and exchange traded funds (ETFs). Avoid the temptation to budget like John or Jane.
Be brave to take risks in life and diversify your investments. Have a mentor to walk with you. There are career mistakes that I would have avoided with the wisdom of someone who has traveled the road before me. When dealing with your finances, don’t wait to learn from your own mistakes. Observe other investors and learn. Don’t be greedy when investing. Have a proper strategy for managing risks.
Continuous self-development, discipline and resilience are the secret to career success. What you know today will not be sufficient tomorrow. I was fond of numbers and complex mathematical equations. This led me to pursue actuarial science at the university. This career line then evolved into a passion for financial markets. Then, I pursued a master’s degree in Business Management and acquired professional certificates in financial investment from the Chartered Institute for Securities and Investments (CISI).