Monitor Your Spending Habit

There has never been a time like this were many people spend so much on buying things. According to the Gallup polls, Americans spend an average of $101 every day. 10.7 trillion dollars were spent in a single year by Americans. That large number divided by 365 means $29,315,068,493.2 on average is spent every day. 

Many people go shopping for fun and some even do so as a result of their peers. They want to feel among. They want to follow the world’s trend forgetting the fact that buying all those things does not in any way increase their self-esteem.

It is very important to be intentional about everything you do. Be intentional about your saving habit as well as your spending habit. Do not just see something and spend on it without a prior plan. Everything you plan to spend on should have been written down in a budget. A budget primarily helps you to plan for things you are about to spend on or buy.

The fact that you see your colleagues spending on things should not be a reason why you should go-ahead to do so. Do not allow jealousy to get hold of you. You never know what is their source of income because they might have multiple sources of income while you only have one. They might not even be on their journey on becoming financially free, so why compare yourself with them? You need to know that you are different and that your fight is different. Do not be like others who would see their friend wearing a designer’s cloth then end up buying a similar cloth all because they want to feel among.

Poverty comes without a plan but to be financially free, you need to plan for it. You need to have a system that enables you to work your way through to financial freedom. There should be a plan on what you spend on daily, weekly, monthly, and even yearly. There should be a percentage of your income that is allocated to specific things, for example, depending on how much you earn, a certain amount should go to savings, health, vacation, food, home maintenance, miscellaneous, and so on. Though sometimes what you do not plan for happens like you get sick unexpectedly, an accident occurs unexpectedly, things you never thought happens but notwithstanding it is essential to have a personal plan for your income. Many people wonder how they spent their money at the end of the month but it is already too late. It is much better to know what you are spending on first with the aid of a budget.

After writing your budget it is very important to review it and cross out those things that you do not need because buying unnecessary things would only make your purse grow lean. Write the plan and arrange what you have written according to their scale of preferences.

In conclusion, a budget might be difficult to follow when you start writing one but with time, consistency, and discipline you would obey it and it would go a long way to help you become financially free.

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To your innermost growth,

Antonza Calvin Karim

Join Your GADS Peer Learning Group & Slack

Hey there, if you are part of the 2020 GAD Scholarship and are finding it hard to join your pear learning group.. watch this video to learn how.. meanwhile, when searching for your group or team, use lower cases all through. Thanks.

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To your utmost growth, 

Maga Godwin.

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Why sit there till you die?

Why sit there till you die?

The state of poverty can leave you discouraged to the point where you begin to ask questions like “is God punishing me for a sin?”, “was I cursed from birth?”, “are my village people doing me?”, and so on.

Waking up early, going to work early and living there late at night yet earning a meagre salary can be disheartening. You do exactly what your boss expects of you, yet your salary is not increasing. At the end of the month, you get paid but the amount of money can’t even sustain you through the month because of the responsibility on you. You have two children to care for but unfortunately, your husband doesn’t seem to be giving you money to take care of them. You cry at night asking God why He placed you in that situation. Unfortunately, you forget that for you to be financially free you need to take responsibility and venture into new things. You keep repeating the same things monthly and you expect yourself to be financially free, forgetting that things do not work like that.

Why sit in that situation till you die?

Why stay in that situation till you break down?

Why do you keep repeating the same thing monthly and expect things to change for you?

It was Albert Einstein who said, “Insanity is doing the same thing, over and over again, but expecting different results.”

The journey to becoming financially free can take time but it is worth going. You have tried a particular thing a number of times and they do not seem to be working out, why not try out another thing? Perhaps, that new thing you try out might work out for you.

Many are scared of venturing into new things because they are used to a particular way of life but you need to know that to be financially free, you definitely need to take some calculated risks. You need to break that habit of repeating the same things always and expecting a different result. It is high time you unleash your creativity and try out new things. It might not be convenient trying out new things but for change to happen in your life, you need to venture into new things.

Venture into selling things you have never sold before. Venture into reading the books on finance you have never read before. Venture into things people have told you that would not yield profit for you. Venture into real estates. Keep trying out different new things until you eventually break even.

Thomas Edison had more than a thousand patents. The fact that he had the patent of the light bulb never stopped him from carrying out other inventions. He didn’t stop in one patent, rather, he ensured that he invented many other things.

Do not really only on what you can do now but try as much as possible to add a new skillset to yourself so that you can be able to venture into new things.

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To your innermost growth,

Antonza Calvin Karim

Patience

Today, many people want to get cash fast. Many want to become rich fast and many want to live luxurious lives without paying the price. Some even go to the extent of doing money rituals. The question is how many people are willing to pay the price to become what they desire? How many are willing and disciplined to obey the 10,000-hour rule? How many are willing to stay focused until their ideas are birthed?

Many even start well, they stay disciplined for a while, they even begin applying the 10,000-hour rule but before you realize it, they give up again due to lack of patience.

How patient are you? Are you willing to spend sleepless nights working out your desire to become a reality? Are you willing to read those financial books consistently? It takes patience to do all these things.

Patience was what enabled the likes of Bill Gates and Dangote to build their multimillion businesses. They were ready to be patient against all odds. They faced trials in the process of becoming but their patience stood firm.

Becoming financially intelligent might not be easy but with your commitment and patience, you will become financially free. It might take time but it is worth waiting for.

What Business are you into? Be patient enough to see it grow.

What skill sets do you possess? Be patient while nurturing them because they might eventually become what would make you financially stable. Do not give up on them.

What talents do you have? Be patient enough to harness them because they might be the key to your financial freedom.

Do you love singing yet when you sing people laugh you to scorn? Don’t worry, be patient enough to keep practising. One day just like Beyoncé, you will sing and they will be astonished.

Everyone who made it into the limelight kept trying. Everyone who became a millionaire or billionaire kept trying. Think about this, Thomas Edison kept trying for 999 times before he eventually made the light bulb. If he could do it in his business and yet made it, you are not an exception. Everything works together for good to those are patient enough to see their dreams become a reality.

You want to own a house yet your salary is 30,000 Naira a month. Who told you that dream cannot become a reality? Who told you all things cannot work together for your good? Be patient and keep practising those financial principles you learned.

Your mate whom you thought would not amount to anything are making millions of Naira but you are still renting a one-room apartment. You have attended all financial training your mentors recommended you to but nothing seem to be working out. Your mother-in-law is already calling you a witch because things are not working out for her son. Be patient because sooner or later you would laugh last.

In your journey to financial freedom, you would meet with hurdles along the way but be patient with yourself because you will eventually become financially free.

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Service

“I don’t know about you but guy, I want to blow, yes ooh. I want to make mad money. Please, how can I make money fast? I have joined many Facebook and Whatsapp groups but the people in all the groups are not patronizing me well. I even joined a particular network marketing scheme last week, they said that if I register with 38 thousand Naira, the money would increase monthly by 20% and I would be able to cash it out when it reaches 60 thousand 800 Naira. I think those people running that scheme made an amazing offer to me and am glad I registered. Thank God for NaijaBet, I can easily bet for something and get the cash instantly. Who no like better thing?”.

Nnamdi was extremely glad to tell his good friend Paulo about his newfound scheme where he could get money fast. He wasn’t interested in learning any skill or getting a job. All he wanted was to get an opportunity to get quick cash either online or offline. He didn’t care whether the source of money was legitimate or illegitimate. Paulo, his friend was skilled in making shoes though he spent many sleepless nights trying to make new designs so that he could meet up with the trend. Nnamdi, seeing all the stress that Paulo went through rather preferred to make his money as fast as possible, probably because he made 50 thousand Naira when he performed his first bet.

Paulo always shared his story with his friend Nnamdi how he got skilled in making shoes, he had served in his uncle shop for close to 5 years before his uncle left to Italy to continue his business. Paulo lost his parents at a tender age and as a result, he had to go and stay with his Uncle who was a professional in making shoes in eastern Nigeria. His uncle was a very busy man so he was always in the shop monitoring what all the workers were doing. From time to time, he practiced what he saw them doing and as a result, after about 2 years he learned how to make shoes. He understood the power of service. He knew that serving someone would eventually yield greatness in the long run. This was what he was trying to make his friend understand but his friend wanted instant gratification. He advised Nnamdi to look for a place to serve because serving someone would also empower him but unfortunately, Nnamdi refused to listen.

Nnamdi eventually cashed out his 60 thousand 800 Naira a few months later. He saw another opportunity online to pay a sum of 60 thousand Naira and get 130 thousand Naira instantly. Unfortunately, as a result of his greed, he made the foolish decision of paying and he never got the 130 thousand Naira.

The power of service cannot be overemphasized. In 2014 Bill Gates began served as a technology advisor. He understood what service could do in the long run. 

Where you are serving someone might not look elegant or rosy. But one day you would look back and say ‘I am so glad I paid the price to serve’.

Do Not Eat Your Seeds

A seed is the small hard part produced by a plant, from which a new plant can grow. Without the seed, there is no way a new plant can come forth with exception to those crops whose branches can be planted. Seeds are small physically but play a huge role in the life of the plants and they play a huge role in determining if a particular plant would grow or not. If the seed is infected, there is no way that plant would grow, even if it grows, it would also be infected.

The farmer knows the value of his seeds so he does not eat them. He knows that if he does so, he would have nothing to sow in the next season. He ensures that he stores the seed in a place where they would not be affected by insects. This is how invaluable the seed is to the farmer. He would never eat his seeds even when he is hungry. He knows that his seeds are his assets.

Do you want to be wealthy? Follow me.

It’s a very good thing to desire to be wealthy. It’s amazing but desiring to be wealthy is not enough. You need to work out your desire to become a reality. Your desire won’t become anything of value if you don’t work it out. People would only recognize your efforts if they see results, therefore, when you get to a point where you can work out your desire to yield tangible results, people would definitely recognize you.

Are you eating your seeds financially? This is a personal question. This question requires a deep inward reflection. After getting your salary or allowances, do you spend everything or save some? Financial Experts recommend that we save at least 10% of our income no matter how little the amount is. The beauty of it comes forth when it is done continuously over a long period of time. The money saved would continue to grow as long as the person keeps living on 90% of his income and saving 10%. This 10% should be kept and should not be spent at all cost because they are your seeds. If possible, transfer them to a fixed deposit account or your PiggyVest account.

After saving 10% over a long time and the amount of money has become huge, it’s very important to invest. Look for people of expertise to seek advice on when and where to invest because investment choice most times are technical to make.

Even though the seeds the farmer has are not much, he knows that when he plants in the due season, he would harvest 100 times of what he planted. The same thing happens when you invest in the right place and at the right time. You end up reaping bountifully financially.
Never underestimate what saving the 10% of your income can do for you even though developing the habit of saving may look difficult when you start out. Fortunately, when it is done consistently, you would get used to it. If you find it difficult to save, start from somewhere. You can start saving 1% of your income, then move to 5%, then move to 10%.

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