This archive report was first published on 30 July 2020.
Elizabeth Munga, Group Head of Strategy and Business Planning at Britam Holdings Limited, has built a wealth base through discipline and smart financial decisions.
Published on July 30, 2020, in the Saturday Magazine, a publication of the Nation Media Group.
Elizabeth Munga's secret to building wealth is simple: saving and investing early. She believes that with the right guidance and coaching, women can overcome their risk-aversion and try their hand at riskier investments like real estate or stocks.
One of the biggest money lessons Elizabeth Munga has learned is the principle of Pay Yourself First. Before paying bills or buying groceries, she sets aside a portion of her income to save or invest.
Elizabeth Munga's career and side hustle have been inspired by the story of Warren Buffet, who started his first entrepreneurial venture at 13 years old. She emphasizes the importance of finding a mentor, especially for women, and believes that education is a powerful secret weapon for success in the corporate world.
When it comes to employment versus entrepreneurship, Elizabeth Munga advises against making choices driven by a desire to get rich quick. Instead, she believes in doing what you love and allowing money to follow you.
Elizabeth Munga also touches on the issue of women in top corporate positions, citing job choices and pay growth as contributing factors. She believes that women tend to gravitate towards lower-paying jobs with more flexibility, while men's wages tend to grow for a longer period and achieve higher levels.
