Hey everyone! Financial keys is back with another edition still anchored by Seth Akinbulumo. Please enjoy and don’t forget to share and comment!
LET YOUR MONEY WORK FOR YOU
Yesterday, we laid some foundations on personal finance. Today, we’ll be building on those foundations for clarity. Walk with me on this one!
You cannot be successful in the years ahead unless you lock on to the key principles you must apply today. One of the most important is the law of delayed gratification, which we spoke extensively on yesterday. We said, you cannot afford to jeopardize the realization of your desired future by spending today what you should save for tomorrow. Research has it that, the world’s wealthiest men and women created and built their fortune by living below their means.
In the wealth-building classic, The Richest Man in Babylon, author George Clason tells the story of Arkad, the richest and wisest money manager in all Babylon and the “Five Laws of Gold”. The first Law is this; “Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family”. In essence, wealth is not predicated by income, but by the amount of money accumulated and saved. If you follow a financial plan ( we’ll talk extensively on this in subsequent posts) and put aside ten to thirty percent of your daily, weekly, or monthly income in a lifetime savings account in ten, twenty, thirty, or more years, depending on your present age and the nature of your financial plan. You will have saved up something of significance for your future.
Let your money work for you. You’ve worked so hard to earn it, also work as hard to keep it. Most people are not doing well financially because they do not respect money. Get something clear; while money may not be of ultimate importance, it ranks up there with oxygen in giving you life. If you desire financial abundance, you must develop a deep level of respect for money and the role it plays in your life. Money is powerful. It motivates people. It gets things done. Its abundance can make life easier; its absence can make life worrisome. It is one of the most powerful ingredient for balance in life. If you do not look at money under this magnifying glass, there is a chance your disrespect for money will cause you to make wrong spending choices that will in no little way affect the realization of a future of financial abundance and security.
I hope you’re learning what you need to create and build a life of financial abundance and security? Leave your comments, questions and contributions in the comment box below. Also, share to as many people, friends and family you would like to see live a life of true financial abundance.
