People have this benign and crazy concept that money is the root of all evil but it is not money that is the root of evil it is the LOVE of money. If money is evil why then do we need it??? If you are wise you’d understand that poverty is a curse. It is undesirable and most likely a bigger root of evil than money would ever be. Many people want to be wealthy but are not ready to do what it takes to get there. To be wealthy you need your money to work for you. Here, I have written steps that can make your money work for you while you are awake or asleep. Good things do not come easy it is necessary to prepare our minds for the tasks. If you want wealth, there are key sacrifices and focus points that you must pay attention to, they are called money secret or skills. I stumbled upon them and I thought I should share this information, so we can grow together:
1. Value Money: Every dime you have matters, see it as a mustard seed that can bring in a massive tree when planted even if the seed looks small. If you were to save 100 naira daily for the next 30 years, you will have 36500 in a year and 1,095,000 naira. In 30 years you are a millionaire without stress or a job or business, just by saving a 100 naira note daily. This doesn’t make you rich quickly but you would get rich for sure. Every money including 5 naira is a seed, you can get rich on the money you are wasting. the longer you wait to get started the steeper the climb. you can’t make poor decisions today and expect wealth tomorrow.
2. Avoid debt: Avoid living above your means. You earn 10,ooo naira a month, you have no other source of income and you try buying a shoe of 15,000 naira. The truth is you cannot avoid the debt because your next month’s salary that you have not even seen would have to pay for it. If you do not have the money, well let it go. A debtor is a slave to the lender. The life of a debtor is stagnant and everyone in life wants to move forward so, avoid debt.
3. Account For Every Penny: “I had some money yesterday and I cannot even place what I spent it on now it’s finished”. I’ve heard people use this phrase so much that it almost seems normal to the world. Ever wondered why records are kept in business organizations? It is to monitor the money flow and productivity. Treat yourself like an organization, everyday or week evaluate and give account of the money you’ve spent. When you spend money on unnecessary things, the awareness dawns on you. this way you can keep check of your spending rate. Do not forge productivity, if you spent the money on something unnecessary document it, if you spent it on ice-cream document it. Do not lie to yourself because you’d be cheating yourself. The greatest form of deceit is self-deceit.
4. Control Money: Never let money control you. How do you control money? Simple. Have a plan in the following order:
-10% for God or charity
– Save 10%
-Household expenses (food ingredients, etc)
-Debt/ Miscellaneous (spontaneous / unplanned spending)
-Business expenses (investment)
Every month or day, any money you get break it into the following categories. Never substitute any one for the other. If there’s excess, in any category, save it.
to be continued…