Save a penny for the future

FINANCIAL literature should be included in the education system for every economy says aspiring business entrepreneur Yousif Hussien who believes teaching children the importance of managing their finances responsibly would increase development and growth.

Aspiring business entrepreneur, Yousif Hussien at work. Picture: GERALDINE PANAPASA

Originally from the Middle East, the 19-year old is a business management student at the Canberra Institute of Technology (CIT) and works as a cleaner at the Uni Lodge near the Novotel-Canberra hotel along Northborne Avenue.

“I’m not embarrassed at all cleaning the dorms at the Uni Lodge. I earn $1200 if I work five days cleaning windows, the rooms and the pool,” he said.

“My friend and I were given a contract to clean the dorms on certain days a month ago and I’ve saved quite a lot from what I’ve earned.

“I try to save every penny that I earn and only use it if I really need to buy something. My parents are also working so I help out when I can otherwise I prefer to save my money to open up a business one day.”

He has a few units to complete at CIT before cross-crediting his progress to complete a diploma in business management at the University of Canberra next year.

Though he hasn’t figured out yet what type of business he wants to specialise in, learning the ropes of how to manage one is the first step.

“Working as a store manager at City Convenience has also broadened my knowledge of how to manage a small business and I guess that’s what I want to work on – starting a small business and working my way up,” he said.

“There are a lot of things young people can do with their savings like enjoying an outing with friends or buying a new gadget.

“I think saving for a good future is a good and worthwhile investment. There’s a lot you can do with whatever savings you have – you can save enough to buy a house or in my case, start a new business.”

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