I used to be an active player in the financial sector of my country. For over 2 years I was a full time banker in one of the prestigious commercial banks in the country. Oh! I've very many experiences being in that system and i will share gradually. Today though, I'd be sharing one myth Ive seen people embrace in my country.
Daily we see the economy evolving and several financial technologies springing up, giving many options for cash movement and expenditure. On the one hand, it seems like an alternative way of making payments. Payment Solutions they call them; To be honest, they make life easier, reduce the stress of long queue in traditional banks and definitely promote a cashless society.
On the other hand, they make it easier for you to spend more and less likely to build your a savings culture.
My Point is not to blame these service providers, cos infact they are all just providing solutions to an already existing problem. The real challenge here is, our appetite. Your appetite, my appetite for things, many things which we may not need and can do without.
People believe with the advance of technology and the growth of fintech, its harder to save. The use of mobile apps, atm cards etc have become an excuse for peoples lack of financial discipline. That my friends is a myth im trying to fully understand.
From my experience in the banking industry and as a growing young woman, id say i cannot fully blame technology for the increase in people expense or the lack of financial discipline. There is more to be considered
With these and more (which my dear readers can share in the comment section) I think people should be more focused on building their self discipline financially.
