HOW TO SUCCEED WITH YOUR MONEY
Since the introduction of money as a replacement to trade by
barter, it has always been in circulation but only amassed by those who
understand and know how to send it on errands to work for them. Before I go
further, what is success? Success is traveling on the right road towards your
goal. Simply put success is, “A progressive realization of worthy ideal”.
Though money is very hard to define, but for economic reasons, it is anything
that is generally acceptable, in the settlement of debts, and medium of
exchange.
It is a common scene to see people who work round the clock
or even earn reasonable salaries and yet have little or nothing to show for it.
This is because they have one source of income, called;” Linear Income”. Until
you put your money down to work for you in investment mix such as real estate,
bond and shares, where residual income is generated, you have not succeeded
with your money.
We live in Africa where some attribute their lack of wealth
to being bewitched by some unseen forces. But the truth is not far fetched; it
is lack of knowledge and non-application of the basic principle of wealth
creation. Without the application of these principles, one will end up being
enslaved by others, no matter how much one earns. Asa man’s status improves, so
his responsibilities, while climbing the socio-economic ladder. Wealth does not
come automatically to those who earn fat salaries or to the extra strong or
educated. It only responds to appropriate principles, which like the law of
gravity, will never fail as long as heaven and earth remains.
Receive the tenets of succeeding with
your money.
Here, a part
of all your earnings should not be spent. Make it a duty basis to save a part
of what you earn on a regular basis. Do not spend all your earnings, no matter
how pressing a need may be. Most people that applied this principle in the past
are wealthy today. No matter how much you earn, keep at least 10 percent of
such for savings every month. Suppose you earn = N=15,000 per month, spend
=N=12,000 on your needs and leave the remaining =N=3000 in your savings
account. This is because you add
=N=3,000 to your account each month. You will notice that in just 5 months, you
will have at least =N=15,000. If you continue with this diligently, in 10
months, you will have over =N=30,000 (interest exclusive). So, you see that
each passing month makes you worth more than you were the previous months.
Your money will grow by the months. As it
grows, you get stimulated and greater efforts will come to you to assist you
make more money through investing in multiple sources of income. When you begin
to implement and save part of the money that comes to you, money will flow to
you more easily than before. Remember that doors of opportunity will only open
to you when you have a solid financial base to utilize the opportunity for
greater wealth.
No matter
your profession, money /wealth can be yours if only you are ready to follow
these principles. Therefore, every one
that is involved in a venture has to himself a stream that can make him as
wealthy as he wants to become. Remember that all the money you desire in life
is tied to the one you have now if you know how to send it on errand. It is a
fact of life that the one who gathers much begin with little. The money you
possess now, if properly utilized, can lead to a greater wealth tomorrow, but
if you continue to spend all that comes to you, you have denied yourself the
opportunity of succeeding with your money, thus making your future cloudy. Be
wise! Money tends to flow more easily to those who use it well, but flies away
from those who spend extravagantly. Spending all your earnings brings you below
the line, while saving and investing a part of all your earnings will bring you
above line and sure prosperity!
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