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Increasing Your Financial know-how (Part 1)

Increasing Your Financial know-how (Part 1)

It is neccesary you develop your mental capacity to attract, control and intelligently increase your finances. You can determine your financial outcome and steadily grow at it, when you understand the Basics of Financial Intelligence. Money has a language and until you can speak the language of money, you may earn much but lack productive cash flow. Financial Intelligence suggests that you can productively engage money to work for you and produce expected yields. I discovered after years of careful financial understudy that, it is possible to earn much and yet stay poor.

It is not how much you earn that primarily determines your financial stability but how much you are able to produce from what you earn.

Money is not the printed paper we carry about; money is the value attached to the various denominations we have. Money has the potential to grow and diminish depending on the carrier’s understanding of financial handling. You can grow from financial nothingness into plenty by observing certain principles that command the multiplication of money. Years back in the higher institution, I decided to get better in financial matters. So I sought knowledge and started improving myself in the area of financial intelligence. As a young entrepreneur, I discovered I needed to treat money wisely so I gave attention to proper financial records. I got a small book where I recorded every amount that I received and spent everyday. It was funny and quiet tasking but it was worth every effort. At the end of the month, I did a sum of the total cash that came as income from my monthly allowance as a student, gifts from here and there . Then, I did not only have a thorough analysis of how much I expended, but my statement also revealed what particulars too away most of the cash I received. It was obvious that as a student I was getting so much money; and many students earn more than civil servants; but at the end of the month, I had little to show for it. Realising the bad state of my financial mentality was my first benefit. I had to enforce a change by restrategising the way I handled money, and today that decision is paying off.

I have a goal to help anyone interested in becoming better at ensuring money does not waste away in your possession but multiplies in your hands. I am running a Financial Intelligence Masterclass, where I will be revealing Cash management tricks, Cashflow secrets and Investment strategies that have taken me years to learn. They are proven and worth more than the cost of purchase. Until you are willing to be better in the way you handle money, you may have many opportunities and earn well but never be able to genuinely say you are making financial progress.

My Financial Intelligence Masterclass comes with a 50% Discount for Registrations received before 31st December 2018. I guaranty a 2018 of Financial Increase in multiples for everyone who registers. What are you waiting for, visit: http://uprighthouse.com/product/financial-intelligence-masterclass-2

Deji David Olanrewaju
Business and Leadership Coach
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5 THINGS YOU CAN DO TO HAVE A BETTER FINANCIAL STAND IN 2018

As global economic news reveals an increase in instability, it becomes more essential that we increase our capacity to manage and multiply finances. In 2018, things could get tougher for salary earners who have refused to increase in financial intelligence.

As the year begins this week, you have a good opportunity to learn certain keys that can help you plan skilfully and gain a better financial stand in the year. Give attention to the following strategies;

  1. USE A BUDGET

A budget is a financial plan clearly stating your financial commitments and how your expected income will be shared to meet stipulated needs.

  • Expected Income: A budget is done before the money arrives.
  • Financial Commitments: Allocate percentages of your expected income for stipulated needs.

A budget helps you ensure you stay committed to your financial needs (necessities), while trimming out your financial wants. Remember however that, a budget is very effective without a determination to be disciplined.

 

  1. LIVE WITHIN YOUR INCOME

If you cannot live within a low income that you earn, you will likewise find it impossible to live within a “large” income when you begin to earn it. Ensure you;

  • Stop buying what you do not need.
  • Stop living to impress people, no matter how close.
  • Learn how to kill your appetite.

Financial Freedom is not a function of what you earn, but your capacity to multiply your earnings.

 

  1. SAVE FROM EVERY INCOME

Yes, it could be difficult to save money. But certain strategies make savings possible;

  • Use a Thrifts company for savings
  • Join a small group that contribute money monthly. This way, you are sure to save up a large sum you will collect from everyone in the group at an agreed date.
  • Use Contingency Accounts: bank accounts you open for specific purposes. Open an acoount for savings, another for family expenses, etc.
  • Stop consuming all that you earn.
  • Every income you earn (no matter how much), has three parts:
  1. God Part: Tithes, Offerings, Welfare to the needy, etc.
  2. Bread Part: The part of the income you spend to meet your needs. These include; personal needs, education, family expenses, etc.
  3. Seed Part: The part you need to set apart in order to multiply cash. These include; savings, investments, partnerships, etc.

NOTE: Savings cannot make you rich!!! You save money for the purpose of reinvestment.

 

  1. GO ENTREPRENEURIAL

“You need at least 5 channels of income in order to be financially free in Nigeria” Albert Aina

  • God did not fashion us for monthly income. It is entrepreneurship that opens you up to daily income (Daily Bread). My Father Inlaw (an Igbo man), once told me: “Government job puts food on your table, but Business makes you rich”

Common Pathways to Entrepreneurship

  1. Produce, Market and/or Sell a product(s)
  2. Offer a Service
  3. Partnership

*** My Book: 40 BUSINESSES YOU CAN DO WITH LITTLE OR NO STARTUP CAPITAL will help you greatly. CLICK HERE to order for it.

 

  1. INVEST IN ESTABLISHED SCHEMES

Learn how to make other people’s money and effort work for you. Leverage on legal and high yielding investment schemes that demand little effort from you.

Some of these schemes include:

  1. Selected high yielding multilevel marketing scheme
  2. Cryptocurrency: bitcoin, etc.
  3. Investment clubs
  4. Group contributions, etc.

NOTE: when considering Investment Schemes, you need good financial advice in order to recognize genuine schemes and proper investment timing.

*** I am Deji David Olanrewaju, a Business and Leadership Coach. I offer Business and Financial advice to clients just starting and those willing to improve their investments. Contact me: +2347038002888, contactupright@yahoo.com

Enter for my FINANCIAL INTELLIGENCE MASTERCLASS.

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GENERATING WEALTH IN TIMES OF RECESSION by Emmanuel Amanyi

This article contains excerpts from Possibilities Magazine; Vol. 2, No. 1. Click here to download magazine

A recession is a significant decline in activities across the economy, lasting longer than a few months. Its effect is visible in industrial production, employment, real income, wholesale and retail trade. The technical indicator of recession is two consecutive quarters of negative economic growth as measured by a country’s gross domestic product (GDP).

Our dear country Nigeria seems to have been going through this for some time now. It is an obvious problem, many groups and individuals are affected. But it is not an excuse for penury. In fact, it is an opportunity for some to grow. I know several companies and individuals that have grown bigger as a result of the current recession.

Genesis 1:14-18, 8:22. Changes in times and seasons is a constant in our world. There will always be years of plenty and years of lack. What you do with the plenty could determine your lot in the years of lack. The story of Joseph in Egypt (Genesis 41:1-52) stands out in the explanation of this principle. Joseph had great management skills. Under him, Egypt faired well, saved well and wasted less in the years of plenty. From their abundant savings, Egypt was not stranded in the years of lack. In fact, Egypt had great economy as they enjoyed much foreign exchange. Egypt was prepared for recession. The preparation saved them and generated much wealth for them in recession. Preparation is key in being on top of the situation (recession). At one level of success, begin to plan how you can survive without your current means.

Without the invention of alternative sources of light, we will be stranded at night when the sun ceases to give its light. Night has no effect in your compound if it is flooded with light. Valid ideas overrule the effect of recession. It was Joseph’s idea of savings that overruled recession in Egypt.  You can trust God for ideas that will put you in a vantage class this season.

Psalms 1:11-3 A tree located beside a river is not troubled by dry season. Some people are immune to recession. This is because of proximity and access to the Source of life and every good thing. JOIN US!

Order for New Book: FINANCIAL INTELLIGENCE FOR YOUNG PEOPLE AND STRAT-UPS. Click here to order

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FINANCIAL INTELLIGENCE FOR YOUNG PEOPLE: Part 1

This is an excerpt from my new book: FINANCIAL INTELLIGENCE FOR YOUNG PEOPLE AND STARTUPS.

Financial Intelligence means mastering the art of handling money. You can determine your financial outcome instead of being controlled by it, regardless of people’s unending wants and needs. Money has a language and until you can speak the language of money, you may earn much but lack productive cash flow. Financial Intelligence suggests that you can productively engage money to work for you and produce expected yields.

With the present economic recession, it is paramount to give attention to the following financial intelligent strategies;

  • GET A REGULAR PAYING JOB

A regular paying job is not necessarily a monthly earning job; it is a job that ensures periodic and constant income; it may be monthly, weekly, daily or even quarterly payment. Get involved with an organization that you work with on full time or part time basis and secure a regular channel of income. No matter how young you are, get something legitimate that puts money in your pocket regularly. NOTE: Having this as your only channel of income is not enough!

  • WORK AT CREATING MULTIPLE STREAMS OF INCOME

A financial expert, Albert Aina said, “you need at least four channels of income to be financially comfortable”. Whatever services you can offer or talent/skill that you possess can be another money-engine. No matter how much you are paid, do not get comfortable with one or two channels of income. Learn to invest in new ventures, partnerships and entrepreneurship. Get my Empowerment DVD, “Creating Multiple Streams of Income” for diverse investment strategies and how to run them simultaneously.

  • LIVE WITHIN YOUR INCOME

The human nature has a way of lifting lifestyle to meet with income level, except the individual deliberately enforces the killing his appetite. The key factor here is discipline. Learn to differentiate needs from wants. Never make any purchase until it’s a genuine need, especially if you are low income earner. Do not live in deficit. Be realistic with your present financial level, as you take steps to increase financial income. Kill your appetite. Do not live to impress anyone.

  • ALWAYS USE A BUDGET

A budget is a financial plan clearly stating your financial commitments and how your expected income will be shared to meet each stated need on the plan. A budget is effective only when it is drawn prior to financial spending or better-still, before the said cash arrives at hand. Below is an example of a personal budget of an employee who earns N75000 monthly;

Tithe:                         10%     (N7500)

Savings:                     10%     (N7500)

Feeding:                    25%     (N18750)

Housing:                   10%     (N7500)

Wardrobe:                10%     (N7500)

Education:                25%     (N18750)

Parents:                     10%     (N7500)

This plan is stipulated before the income arrives and for effectiveness, strict adherence is necessary. Your budget should cover your needs. Business start-ups should draw up budget to cover business needs and expenditures. These details vary with businesses.

To continue reading, order for my new book. Click here: FINANCIAL INTELLIGENCE FOR YOUNG PEOPLE AND START-UPS.