Many times, people feel they are too young or too old to carry out a decision with regards to their finances. Every body has to make certain decisions concerning their finances even if you have the most intelligent financial advisor, accountant etc. The level of poverty in some third world economics are on the increase such is observable in Nigeria.
Often times on the streets you find out those beggars cling from one vehicle to another causing traffic jams and sometimes they are subjected to hazards such as accidents which may eventually lead to their death. When I see such, I wonder if this was the case in eras when every man produced food just enough for himself and his family. Other times, I wonder if they’ve got no knowledge on who to create wealth for themselves. These are people that the rich use to serve their igneous desires. However there are people with well paid jobs that albeit their income, cannot be distinguished from roadside beggars. This is due to that fact that the revenue generated from their jobs runs after so much expense and hence are inactive placing a lot of debt burden on such individuals.
My research has revealed that the major cause of so much poverty is because people lack the wisdom on how best to manage their finances. The Bible itself says “My people die for lack of wisdom”. People attribute their poverty stricken state to all but themselves. They never one day accuse themselves of being responsible for their misfortune.
Once I read a paper with an article about a boy who killed his mother because he claims that the holy spirit had directed him to do so because his mother was an idol worshipper hence retarding the blessing of God in his life. You find out that knowledge is the key to wealth creation. Many other times, people feel that the only way to create wealth is by doing it illegally such as by joining secret societies, practicing rituals, stealing etc.
Many others think that school is the key to wealth creation and hence attend schools cheat and get promoted from one level to another without even getting the basics of what they went to school to achieve knowledge is strength because forewarned is fore rearmed. You know there’s a difference between knowledge and wisdom, knowledge could be passed from one person to another but wisdom cannot. The greatest wealth we are endowed with is our mind. The way we position our mind determines the amount of wealth or debt we accumulate for ourselves.
Wealth is that par of an income that is reserved. It is the net worth of an individual. In our society today, the rich get richer, the poor keep on wallowing in the sea of poverty. The funniest thing is that the people in the society that have very little or no wealth are the ones that make lots of noise.
Once, I was in a class and a question was asked thus “When is an individual said to be rich”. A lot of people agreed that a person is rich if he can fame his expenses so that it is lower than his total income. Then a young boy that was sitting behind stood and said that he considers a parson rich if he has a plan that can keep him going irrespective of future events such as dismissal. A lot of us just look at the present without even a hope for the future. That little boy had responded maturely even more than his elders that were there present. He had set his mind beyond the present, beyond a time when things looked smooth to a time when the road stants being rough. His response boils down to the questions thus in most of us, “what if…” “what of…”, “can you…” etc.
Certainly, the positioning of your mind affects your finances. Everybody is exceptionally talented in life, the key is the mental approach. Success is 90% of the mind, the way you manage it determines how best you succeed.
Let us look at the following extracts of quotes related to success complied by Harry Millner.
- Success has ruined many person.
- Success which costs too much most be considered failure.
- Success makes a fool seem wise.
- Success has many friends.
- Success often depends on negative rather than positive qualities.
- Success is on way of annoying your friends.
- Success is being able to spend your life your own way.
- Success is the best revenge.
- Success may blind us to injustices.
- The hard thing about success is having to keep it up.
- There are successful men but no great ones.
- There is something about success which is displeasing.
- The reward for success is success.
- The first blow is half the battle.
- If at first you don’t succeed that makes you average.
- You must know failure before you know success.
- To be successful, act big, think big, talk big.
- Success is 5% inspiration and 95% of what you know.
Now to be wealthy, you have to act as a wealthy person, think as a wealthy person, talk as a wealthy person. The reward for wealthy is more wealth. A major step towards being wealthy is the first step you take. Wealth creation cannot be taught but can be learned. It is learned through a series of conceptual study and practice. Many times I hear people say that errors are bad. True they are bad but we learn more from our faults than our virtues. If you do not learn from your past you will certainly repeat it. You see failing enables you to succeed because you easily learn from your failures than your successes.
Creation of wealth is carried out through a careful and systematic plan. Many so called professionals are indeed slaves to money in that they foil and sweat for little money. In this case a very large effort is geared towards generation of a very little income. Such income has little or no use because it certainly may not be enough to cover all expenses incurred, hence resulting in debts that are constantly being deferred. Such individuals atimes have two or more jobs in order to make ends meet. There are two category of people (i.e. in the way they handle money this minimizers and maximixers.
The minimizers are those whose income surpasses their expenses. They achieve this via two means either by making more money or by spending less.
The other category are the maximizers that squander all and sometimes above their income. They are always in debt and most susceptible to mental problems. The minimizers do not really avoid expenses but rather they buy assets rather than liabilities. Such assets include stocks, real estates, precious metals etc.
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