I WANT TO BE RICH!

We all desire to have money because of what it always can potentially do for us. The acquisition of things and settlement of bills will never be possible if we had no money. And we usually do have quite a list of things we want to have or want to do, and money is the center point of most, if not all. So, the trick is pretty simple, isn't it? We need to get as much money as we possibly can so that we don't have to try to explain to our lives why we can't afford our desires and make our stay here on earth comfortable. We just need to be rich.

To be rich, however, means we need to have loads and loads of money, or that we should at least have more money that can overshadow our desires, money that is always available when we are in need. It means that we have to be money magnets, that we have to be rich as much as we possibly can because it is the only way to answer back those constant desires that keep pulling at us endlessly.

But being money magnets isn't ever going to be enough if that's only how we think our money issues are going to be solved. If you're hoping to fill up a bucket with water and you put it under a tap gushing endlessly with unrestrained gusto, you will be guaranteed that in no time the steady flow will hit the tilt of the bucket and possibly overflow. But that, in truth, will only be possible and realistic if there's nothing wrong with the bucket, if the bucket isn't tilted, has no holes or isn't damaged in any way whatsoever. If that can be guaranteed then we are also equally guaranteed that our bucket will be filled with time. However, with us and our money...hmmmm...it's quite a story we all seem to have from time to time.

And why is that so?

Personally, I think it's because we constantly always tend to overlook certain realities about us and our money. Realities that we should stop overlooking and make the concerted efforts to monitor. And below are a few of the realities we must face if we are ever going to have any remote hope of being rich ( at whatever level) in our lifetime. Quite a number of us:

OVERSPEND

Overspending simply means how it sounds. Sometimes we buy more than is necessary or needed. We acquire things we really don't need or get ourselves indulgent in things that at most will leave us with fleeting satisfactions. We long for so much and our desires far outweigh our capacity to meet them and so we are spending on items and things that really may not have any lasting value to our lives but instead will leave our accounts empty and our minds wondering....

HAVE TOO MUCH DEBT

Chasing after things we don't have the capacity to acquire often leads us into borrowing money from others. The moment we borrow, we are indebted to the person we got the money from. Now, borrowing isn't really the problem, over-borrowing with little or no strategic plan to cut down the mounting and crushing weight of that ominous load is. Quite a number of us just seem content in asking for loans here and there under the illusion that our luck will soon change and that when that happens our money problems would be over. Better wake up from whatever fantasy you've walked into and realize that life is real. Debt is serious bad news. And if you're ever going to make any headway with your money, you need to start taking concrete steps to cut down your debt to the barest minimum. Otherwise, you'll possibly be rich, but only in your dreams.

ARE NOT SAVING ENOUGH

You must learn to save. And not just once in a while but constantly. Don't be too fooled to think that the rich only have money wells and money taps that constantly and ceaselessly release money for them without measure. Aside from those who have made it their career to steal what doesn't belong to them by cheating either people or organizations out of their money, the rich actually save part of all that seemingly ceaseless flow of money that they are making. In fact, I dare say that it's because they've mastered the art of savings that it seems like they always never ever run out of money. You will need to save enough and that takes quite some serious effort to attain. But unless you don't consider savings as a vital and veritable means of building a rich portfolio, then you're free not to be serious about it. Take my advice though...be serious.

DON'T HAVE A PLAN

Our money, am sure, would pretty much love it if we could always take out some good time to plan how it should be used or spent. Good planning is more often the best way to direct our money in the right path. Granted, things we like or we consider we like will from time to time pop up into our desire range. But if we always have to allow that to be the norm rather than the exception, then we surely can't be serious about this being rich business or dream. We must learn to lock up our emotions and free our heads. Taking out quality time to plan how best to spend our money often times yields great and glorious rewards. And the satisfaction that comes with that too is inexplicably immense. Planning helps us to curb overspending, reduce our debt and also aid our savings. We should put some good work into planning our money.

PUT ALL OUR EGGS IN ONE BASKET

One of the best ways through which you can start building yourself into the rich level is to never put all your money into one income generating basket. Always look for multiple others. The rich don't only increase their money by simply doing just one thing or having just one source of income, they strive to have others, Yes, you can start with a primary source, maybe like your job or your business, but you must then learn how to gradually diversify what you earn into various other investment possibilities. This is so because as life isn't perfect, so also is the world's economy; and from time to time each possible income generator could have issues or go through a low patch, and when that happens it could adversely affect your money. You can imagine what happened some years ago when the property market crashed almost worldwide. Many people and individuals who had sunk in their life's savings purely and wholly into properties never recovered. Before the bust, they no doubt were making good returns but because they didn't seem it fitting to diversify some of the good money they were making, they paid the terrible price when the unthinkable and unimaginable happened. Always thoughtfully look for different places to put your money where it can steadily grow for you.

DON'T HAVE AN EMERGENCY FUND

An Emergency Fund is like savings but not entirely like it. It demands we consciously put aside some of our money quite right but also demands that we consciously regularly ignore it except there is a serious emergency.

Now, this is very important. While savings are good, they actually are there to take care of certain issues that may be recurrent but that we really need to plan for; like holidays, school fees, wardrobe upgrades, etc. With the Emergency Fund, it's slightly different but equally important. As the name already connotes, it's for emergencies only. What may constitute an emergency may definitely differ from person to person but then it should only be an issue that is so bad and demanding that we will have no choice but to break into our Fund to rescue.

We must plan for our money and an Emergency Fund surely has its merits and positives. And if we are ever going to look at ourselves and say we are rich, we must start using our heads more and our emotions less. We need to stop complaining more about our financial status and start committing more to personally changing it. We need to stop living for today only and start thinking for tomorrow. Being rich really isn't about how better the other person is than me but how well I have arranged my own resources to ensure that what I need is always taken care of by me.

So, the ball is in your court. What are you going to do?

THE BUSINESS OF DREAMS

Every one of us wants to be financially free and secure now or possibly sometime in the future. Am sure there’s no argument about that one. And more often than not, owning your own personal business that ensures you never have to worry about your finances tends to be one of the best ideas around. Yes, to have healthy finances, a good business with good, steady income is very necessary and would be most appreciated. At least I know I’d appreciate it BIG TIME! And I have a few good ideas on how you could make that happen for yourself. 

Owning your personal business is always a dream for many but it’s not always that easy to start and run. And that’s usually because of a few things we tend to overlook in our quest to be business owners. In this article, I’ll pay more attention to the small business owner because that’s what I am primarily myself and the little I’ve learnt over time will definitely be of benefit for you. So, the following tips are key: 

1. YOU MUST LOVE THE LINE OF BUSINESS:

Never go into a business you have no love for. The reason for that is because, being a new business, it needs plenty of attention and work and all of that will stretch you. So, if you have no love for it, should you not be getting the kind of immediate results you expect in time, it will frustrate you and possibly demoralize you to the point of an early quit from that line business. Is it a business that you've had building up in your head for some time? Is it your creation or an idea you've always wanted to work on and see come into fruition? This is important so that you're not just jumping into a business simply because someone down the street started a similar one and is doing well. There's something apparently driving that person's success; make sure you have yours.

2. DECIDE WHAT YOU REALLY WANT:

Running a small business can be a sweet dream, yes. But if you already have a job, you need to decide whether you are going into it as an aside/additional source of income or whether you intend to make it your mainstay of income and quit your job. Why so? It’s because the logistics and time for each are not the same and whichever one you choose will play out the choices you have to make in its daily running. So, be sure.

 3. BE SURE THE BUSINESS IS LEGAL:

You certainly don’t want to go into a business or an industry that doesn’t have the approval of the Government. That won’t be nice. Also do all you can to obtain whatever permit or license that is mandatory for that line of business so that you don’t run into trouble with the regulatory authorities over your operations. 

4. AGGRESSIVENESS IS NEEDED:

Let me not kid you; to run your own business isn't as easy as A-B-C. But it has its rewards. However, you will need to be aggressive in running it, especially in the early stages of the business and at the points when expected or proposed dividends aren't rolling in. You must understand that you aren't the only person in that industry and that it takes quite a lot to gain customer confidence, loyalty and continuous patronage. So, you must aggressively keep at it and not be slack in all your business operations. 

5. SEARCH OUT RELEVANT RESOURCES:

Like I said in Point 4 above, you aren't the only one in that industry; there are others who equally desire to make hay, as it were, when the sun shines in that area. So to help you build your business, you must constantly look for relevant resources/information that relate to it. Changes occur almost daily in this life and more so in business and having access to the right kind of information will help you stay in the game and also help boost it. In our world today, the internet itself has become a veritable source of very vital information; make use of it. 

                 

   

6. TIME MANAGEMENT IS VITAL:

Proper planning and organizational tools are very important and can help you plan and execute your daily activities as regards to your business. You can’t afford to toy with time when it comes to business. It is one key element that binds your business with your clients, the goods or services you provide and your possible profits. Therefore, the best management of your time would make all the difference to you and where you hope to see your business get to. 

7. TRY TO ENCOURAGE YOURSELF:

Running a business will get to you, make no mistake about that. It has its pressures and you must guard against that. You must understand that you are actually competing against yourself and not necessarily against others even if they are in the same industry as them. So constantly endeavour to tell yourself that as a way of encouragement especially when certain business goals aren't being met as originally planned.

8. PLEASE, GET A MENTOR:

For where you want to get to in business, you will need to learn from others; especially those who already have gone that route before and have proven testimonies of achievements that you can lay hold of. They may be physical mentors, those you can meet one-on-one and get good tips from, or those who aren't around your vicinity but can be reached via emails or phone or books or CDs or DVDs. The most important thing is that you can learn a lot from them concerning the line of business you have chosen to make your living from. 

9. FIND TIME TO RELAX:

Try to relax and rest whenever you are tired from all the push you give yourself as regard your business. It helps a lot to have hang outs with friends or you visit pleasure places like a beach, an amusement park, a zoo, etc, because it allows your head to breath.

P/S:

Your comments about this post will be greatly welcomed. Thanks loads.

DO YOU HAVE A PIG?

We've looked at at how to ensure we get our finances right by the way we think, because the way you think is responsible for the way you act. Therefore, how you handle money or what you do with it is mostly due to how you think. So, let me try and put this in your mind, if I can...

You need a pig!!!!

Yep! You heard me right. You need a pig. A money pig. A pig that helps you hold your excess money or change, if you have any. And you should have!!!! You must have!!!! If you choose not to have one, please stop complaining that you have no money.

The mentality of savings must be a top priority for you regardless of whether you are making regular income or not. You must entrench that habit into your mindset so that you don't get swept away when whatever you describe as good money eventually falls into your laps. So, my friend, get yourself a pig...a Savings Pig.

Aside from getting yourself hooked on a workable budget, which is very important if you must be financially free, the best way to even run that budget is to have all your spending organised into percentages. And do all you can to stick to those percentages no matter how your income fluctuates. It will do you a whole load of good.

I had my first encounter with the Savings Pig mentality as a young boy when my stepmother gave me a small raffia basket that we used as part of our sitting room decor at the time. I converted it into my own personal savings bank and often would actually put it on the pedestal above the window and many thought it was just a decor element in my room and hardly paid any attention to it. Risky, I know, but it was the only way I could disguise what it really was and what I was actually doing with it. It worked.

At the time, being pretty young, I didn't really understand money; I just wanted to have control over mine since I realized that my parents won't always give me money for what I craved for from time to time. And it always gave me satisfaction to see and know that I had money stashed away from the little pocket money my parents would give to me and my siblings for school every day. I used to pick out the very shiny coins from the money my parents gave me and dropped them inside my savings basket. It felt so good. 

Today am a whole lot more matured, more educated and obviously more enlightened and I've discovered that the best way to handle your money is to always have a percentage of it saved. The usual rule-of-thumb is to constantly put away between 10 - 15% of your income into your savings box or container or bank account or whatever else represents your Savings Pig to you. Please, hear me....you need to have your own pig. It's the best way to lock up some extra cash that will come in very handy for you in the future.

Nobody will ever plan your life for you except you yourself. Give this a pig a little test. It could save you more than you ever know. I still have my pig. It's no longer in the form of a small raffia basket but it still does the very same thing for me now as it used to many years ago. And am pretty glad indeed.

LET IT FLOW!!!

I used to think that the true meaning of being wealthy is to have loads and loads and loads of money. You know, an abundance of it, so much so that I will never have to complain of not ever having enough; so much so that I can always afford what I desire and at any time I want. You agree with me, right?

But if I do have loads of money and I also have loads of spending power, it means buying becomes an effortless and unrestrained venture. And if I get to keep on spending anyhow I want, it means that I will most likely be spending as much as am making. Now, what kind of wealth would I have if am virtually spending almost all I have simply because I think I have plenty money?

A serious word of caution. Nothing is perfect in this life, especially you. And so to think that you're altogether super just because you've started making some steady flow of money is a very serious error. It's the mistake many have made. One moment they have tons of money and the people around them plus the world will no longer hear anything else than their wealth; the next moment they are down and out and they so earnestly pray that the people around them and the world would stop noticing their plight.

Wealth is not defined by how much you make but by how much you retain from how much you make. How much you retain is the pot of gold you can always rely on because it is there for you unlike the channels of making money that may not always be available for you. And this is where you need to try to hone your money making skills on...practice the art of retention.

In earlier posts I did speak about having a good budget and the great benefits that it carries. However, a budget only works based on two telling factors:

(1) Sticking as much as possible to the budget you have prepared

(2) Making sure you don't spend at any whim the difference between your income and your expense, which is a result of you sticking to your budget.

That difference is actually your Cash Flow. And it is what you need to really take care of what you need to take care of should the need ever arise. If you keep on spending at will just because you seemingly always have money coming in, you will never have the cash to fall back on or use when the need arises. Your ability to manage how you release what you make is the best way to always lock up your funds and ensure that you can always have money on your hands. It's no magic, just pure discipline applied.

The money you work hard yourself to make or save is the one you will value and take seriously, because you knew the sacrifices you made and the efforts it took to make that happen. It's time to stop dreaming and instead wake up to face reality because the last thing you want is to suddenly come up short and then realize that you goofed when you truly could have been a whole lot better of.

Guess what? I don't have much but am never broke. Now, why do you think that is?

Please, pause and ponder a little about this. It will save you loads of money headaches in future. That's a promise.

You are free to leave comments on this post and the others before it. Your feedback would be greatly appreciated.

Cheers.

THE PROBLEM WITH MY MONEY

Have you ever been in a situation where you wanted to embark on a project so you decided to either save towards it or borrow money from somewhere or someone for it, only for you to have the said needed money for the project and later discover that you could no longer do the project because the money is either no longer enough or no longer available? And your next reaction may be to start wondering what the problem is with money that it just wouldn't stay in your hands? You conclude that you may never be able to embark on that project because you may never have enough money. If only you had more money than your original estimate.

Or you work quite assiduously to earn a living every month but your eventual take-home never seems to be enough. If only you had more money than you currently earn. Ah…there must be something wrong with money. It must prefer some people more than you. Money must run in the veins and families of others and not in yours. How come others can have it the way they want and you can’t? All you have are bag of stories to tell of how you didn't have enough for this or for that, or how you really can’t afford this or that because you don’t have enough. There must be a problem with money.

You are right. The problem with money is you!

Surprised? Please, don’t be. Haven’t you noticed that money can never leave your hand without your permission except it is taken away from you by force? Money cannot stand up from where you left it and walk away except you remove it from there yourself or if someone else does without your knowledge. Money will always move in the direction that it is made to move to. Nothing less, nothing more. Money doesn't spend itself to buy things, you do. Money doesn't spend itself to pay for anything, you do. Money doesn't spend itself to pay for a car, house, trinkets, jewelry, or anything else, you do.

The biggest problem with money is actually its owner or handler because it will ALWAYS take the likeness of the person in whose possession it is. Before you start protesting, please take this to heart…there are those who seemingly have very little compared to others yet they seem to be achieving more with the little they have. No matter the amount of money you have, you must take responsibility for it because EVERY amount of money has VALUE. When you recognize that every amount of money has value, you will treat it more with respect. And once you start doing that, the money in your hands naturally will take your likeness and subsequently also treat you with respect. If you stop being a problem, so also will your money. Change the way you look at money to change the way you treat money, and you are very well much on your way to riches and wealth.

And one of the best ways to show your respect for money is to put in place a structure or platform that will allow it to flow in the possible right way. My suggested structure is a BUDGET. And you need to make the effort to have a personal working budget; you owe yourself and your money that much.

With a very good budget in place, your money will only go to where it's meant to go. If you set up one that you will make concerted efforts to respect, you are guaranteed that your money will be safe. Don't forget what I said earlier....that, "Money can never leave your hand without your permission except it is taken away from you by force." So, control your money by preparing a budget; it's the right structure your money needs in order for it to be safe.

Please note that a budget is not just meant for the Federal, State or Local Governments in your country but for everyone who truly wants to have a sound sleep every night without the worry burdens of insufficient funds to live on. And a good budget helps you to shut the door on unnecessary spending and helps to open doors of opportunities instead.

The budget doesn't kill; it just helps trim your financial health and helps to give your finances some good balance. And with it, you can easily take proper stock of your income, expenses and cash flow (which is the reason for most of our headaches anyway, when we can't lay hands on ready cash to sort out what we determine as immediate or urgent needs.

So, the problem with money isn't money itself but you...as well as your lack of a good budget structure that will help you effectively control your money.

Please take out some quality time to pause and ponder on these thoughts. We shall continue next week.

WHERE IS MY MONEY? (PART 2)

Money, money, money.

Every one of us, it seems, must have an encounter with its intriguing personality. We all need it, and it affects all of us one way or another, whether directly or indirectly. And without doubt its powers and abilities are endless. It pays bills and buys things. It runs governments, businesses and other organisations with the non-profit making appellative. Some believe they need it (and plenty of it as a matter-of-fact) for their lives to be very comfortable. Others need it to show their power and class. Others need it just to get by for a while, at least. You know what I mean, because even you need it.

Does everyone, however, deserve to have money? Stupid question, you think? Maybe, maybe not. But you still need to ask yourself that question…if you actually deserve to have money. And if your most likely answer is yes, ask yourself why you think so.

And why am I even saying so? It’s pretty simple, really. Some of us don’t deserve to have money because it is not just an item that we must have, but something that we must respect; and some of us, quite frankly, don’t respect it. Our lack of respect for it is arguably one of the main reasons we hardly have it, and not just because we don’t have the dream job or dream business or dream contract or dream whatever else that should guarantee us a steady supply of money. Our lack of respect for money makes our handling of it careless and so money in turn reacts carelessly towards us.

The personality of money, I keep saying, is intriguing. In fact, money is neither good nor bad, careful or careless. Instead, it always takes on the personality of the person in whose hands it is. Money x-rays and amplifies itself in us. And the way we handle it is the way it will behave.

Money doesn’t buy things, people do. Money of itself can’t deliberately waste itself or invest itself, people do. So before you start stammering again about not having money and how if you had you would do this and achieve that, please take out some time and look at yourself again. Don’t look at money, look at yourself.

So that you know, money can never leave your hand without your permission except it is taken away from you by force. Think about it. If you keep your money anywhere, except someone else takes it or moves it without your permission, you will still come back to meet it where you kept it. Money will always obey its owner, it will always obey you. Money is very loyal and never causes problems for its owner. That means you are solely responsible for how money has moved in your hands over time regardless of how small or inadequate you may feel it is. Handling money is like driving. The fact that you can move a car from one point to another does not mean that you can drive. For you to be classified as driving, there are rules. You must respect every other road user, you must keep to your lane, you must adhere to speed limits rules, etc. In like manner, having money isn’t about volume, never about having it in millions or billions, because if you don’t know how to handle it properly, you will waste it. Money has its own rules too and when you properly operate them, then you have money. That is why someone may be earning Fifty Thousand Naira (Nigerian currency) and will be comfortable compared to someone who possibly is earning One Hundred Thousand Naira or more.

So, the way money works in your mind is the way it will work in your hands. If your mind is filled with the spending and wasting mechanism, that’s how your money will perform; and if your mind is thrifty and much more careful at spending, that’s exactly how your money will perform. The problem, therefore, with money isn’t money itself but the person in whose hands it is.

In truth, we really can’t have everything or buy everything because we really don’t need everything. Some people buy on impulse, others just crave to buy, spend, buy, spend, because they feel that their status in society seriously depends on it. It’s an incredulous way of thinking but it’s pretty rampant in our society today. We are so caught up in the desire to impress others who may or may not be bothered with our impressions anyway. I have always asked myself, “Why should I spend money I don’t have to buy what I don’t need in order to impress people I don’t like? (and who MOST LIKELY DON’T LIKE ME EITHER!!!!!!). It’s a terrible life to live and an unnecessary pressure to carry. But some allow themselves to be under such pressure and inevitably make decisions that now negatively impact on their money.

So, where is my money? My money is inside my head, inside my mind. Whatever my mind says, my money does. We must therefore learn how to control the things happening inside our minds and consequently control the money we have in our hands.

WHERE IS MY MONEY?

One of the trickiest things to handle and manage in this life is money. Because of its essential nature, everyone of us need it...to buy things, to pay for our education or for others under our care, to pay for a vacation, to pay our landlords or get our own houses in order to avoid sleeping in the rain or under the bridge, to have a steady supply of food in the house or to be able to afford it whenever we need to eat, to handle health-related matters...settling of hospital bills and the like, to acquire that car we say will help cushion the stress of transportation in our city, etc. The list is endless. And for all of the above and more to be possible, we all need a steady supply of money.

And this is where it gets tricky. For how do I ensure that I have steady money that's always available when I need it? I know for a fact that my monthly pay at that job of mine never seems to be enough to handle all my needs. My business may be thriving, yet still my dividend from it never seems to be enough to handle my needs. Money  is never enough in my hands, it seems, especially as am always in need of this and that and those. I enter every new year with great enthusiasm and expectations, dreaming of a special box of money that I can always go to whenever I need to settle any pressing need, yet somewhat I keep falling short, keep having disappointments. I dream of a better-paying job, or of winning a dream government contract that will change my financial world forever. 

Yet somehow, I can't explain why I hardly have enough money the way I dream of it, the way I see it in my mind. Sometimes I actually do have money coming into my custody, but I can't ever explain where it always goes. I get my dream job or start my dream business and see loads of money fraternizing with my bank account, yet I can't explain at the end of the month or the year what happened to it all. Where is my money?

Do you identify with the aforementioned or even have an experience that is close to it? Have you ever wondered how it is that you don't ever seem to have any luck with money? I have certainly often wondered why in the past (and, let me not lie, even at times now it still bothers me), and it led me to really search myself, made me to observe myself more and to critically watch how money moves in my hands. The little I came up with has helped me to make some adjustments that have also helped me to gradually improve my financial state. I strongly believe that you will benefit from them yourself and can go ahead to improve your own financial state too. So, if you will be kind enough to give me a few minutes of your precious time, I will show you what I found out and help push you in the possible right direction you need to go in order to find out where your money is.

Will you let me?

If you will, then be ready for the next part of this post... I will try to make it worth your while. I promise.