Young entrepreneurs must avoid “get-rich-quick” schemes

Denu Mr Wasiu Yusuf, a Chartered Accountant has asked young entrepreneurs to avoid get-rich quick schemes that usually got them into financial stress and criminal activities.

He said instead, they should be financially disciplined to sustain and expand their investments.

Mr Yusuf gave the advice in a talk on financial literacy and entrepreneurship at the Nasrul-Lahi-IL-FATHI�Society (NASFAT), an international Islamic faith group’s first Ghana annual Youth Forum at Denu, in the Ketu South Municipality.

He said most financially established individuals started their journeys from the scratch and charged young business executives and starters to learn how to save money for investment and not schemes that promised returns higher than Treasury bill.

Mr Yusuf, also a NASFAT Ghana Zonal Auditor, cautioned against acquiring things on impulse and escape pitfalls such as lifestyles that brought financial strain on one’s investments.

Have a personal monthly budget, spelling out yours needs including; simple shelter, food and clothing from wants such as expensive clothes, costly cellular and entertainments, which you can avoid and yet live, he advised.

Source: Ghana News Agency