Why UGX 1 Million Matters in Uganda UGX 1 million is a magic amount in Uganda where most find it easier to start something that brings in consistent income like business or purchasing a small asset that generates income. Although acquiring this amount at once is challenging especially on a small salary where basic needs fight for the same income, that why we need to follow a strategic 12 month saving plan and strategy this will give us a savings goal. Ugandan small salary earner can successfully follow we shall plan out each strategy with different salary amounts, while also covering estimates of your other daily costs. These living costs may differ depending on your size of family or not marriage, No. of children you have if any, your location and personal spending habits impact on this strategy. We are calculating from the smallest salary amount to higher range (250,000 UGX, 350,000, 500,000). Overview: The 3 Salary Groups at a Glance Salary Group Monthly Salary (U...

SACCO groups are one of the popular saving associations in Uganda from all parts of the country, from Kampala, Gulu, Soroti, all across sub regions. SACCOs in Uganda are grouped basing on different individual earning potentials and each location. Some SACCOs are run by and work within specific groups like Lira University Staff SACCO; this one is especially for only staff members. Another is village SACCO groups run by locals in a community like Obar SACCO. These village SACCOs are different in laws and regulations running them; they are organized in a way that suits a specific group of individuals created for. You can’t fix 1,000,000 UGX as a compulsory monthly saving amount on a village SACCO; this is possible only on SACCOs designed for a specific group of people. As a result, rules and regulations have to be different to suit each set of people the SACCO is located in. Due to the popularity of these SACCOs, many individuals are now attracted to start saving in them. That is why ...