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5 Ways to Grow Yaya’s Money TreeHelp Yaya make little investments that could grow her money this year.by Tisha C. Bautista .
Teaching our staffers how to manage - much less increase - their personal savings can be a real challenge. It requires discipline from them and patience from you. However, once understood and applied, its worth is invaluable. What could be better than teaching another human being how to be better for themselves as well as their families?
When asked how you can help your staff invest or increase their funds, certain ideas come to mind:
1. Help them open up a savings account.
Many of our staffers have never even step foot in a bank, whether out of fear or embarrassment or even ignorance. Help them open an account, choose a trustworthy bank, explain the idea of an ATM as well as the concept of interest.
You could even devise an incentive program to motivate their staffers, where you could match a certain percentage of your staffers’ savings, in effect doubling the amount. Although this is again only optional, it provides a bonding experience where your staffers know that you are supportive of their actions. In addition, make sure you retain very open lines of communication with them just in case they have further queries.
2. Institute “Paluwagan” at home.
Although mostly seen as a form of “forced savings”, it would be good to establish this at home. You may even join if you like, as a participant or as the moderator. This way, the other staffers could feel confident that no deceit will happen and that their money is safe. This exercise is a means for promoting camaraderie amongst the staffers as well as individual discipline.
3. Enroll them in a small-scale distribution program.
Direct selling institutions such as Avon or Human Nature usually have a very efficient structure already set up. For your staffers, however, it may be a daunting task to even register, so help them. You may even offer to put up some initial seed money that you may have reimbursed later on. You may also help with the marketing of the project by seeing if your friends’ households may be in need of some of the items being sold.
Of course, everything is about balance so also make sure that your staffer’s enthusiasm for a new project does not take away from her dedication to her primary work.
4. Educational Plans or Housing
These programs are more complicated and may require that you sit down with an agent. Find whatever programs are affordable for your staff or that which you are willing to partially subsidize should you choose this as a form of investment for your staffer. This is an opportunity to really understand the needs of your employee and to see how you can better help her. It is a way to see things long-term rather than in the usual myopic manner. It is also a means to encourage Yaya to dream and be devoted to what she wants in all constancy and determination.
5. Invest in a small home business
Sometimes, it may happen that you have a staffer who has a special talent in perhaps baking or cooking, maybe gift wrapping or decorating, sometimes as a method of augmenting their income. Why not offer to help her start a simple “home business”? You may act as an investor and help guide the group with regard to overhead/operational expenses, etc. and teach them how to turn a profit. This way, they are increasing their income as well as learning how to be efficient, prudent and disciplined.
This activity also creates even more bonding for the entire family. It demonstrates your faith in your staff as well as their desire to do their best and raises their dignity of work and self-esteem.
Admittedly, the above are only a few of the myriad of things you may decide to do to help yaya nurture her money tree by way of investment or savings. Understand that each time you invest your own time and effort into helping your staffer, it is multiplied ten times over. As they say…”to whom much is given, much is expected”… Be generous. It is priceless and can only bring real rewards.ADVERTISEMENT - CONTINUE READING BELOW
Photo from flickr creative commons