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Friday, 28 July 2017

Kill The Poverty Of The Mind


Our minds need constant renewal, the less you learn, the more ignorant you become. Our brains are created in a way that, they can learn so much, in other words, they are elastic, that's why you can read as many books and watch as many videos. Do you know how we often talk about movies of old, those movies have been stored some where in our memories that we can relay some scenes word for word. That's how powerful our minds are.
The question then that comes to mind now is, what are we doing with our minds? are they lying idle and wondering or are you the type that is giving it mental exercise by learning constantly so that you can rightly divide the word of truth. I once heard a wise man say that, "The first ground you must till is that of the mind"
I have heard before that Ignorance is expensive especially when it comes to things to do with the law, if you don't know then, you will pay dearly.
Dr Sunday Adelaja said, "The worst kind of poverty is the poverty of the mind"
Dr Myles Munroe said, "Ignorance is dangerous because it permits the possibility that we will live all our lives and never know why we lived."
Finally it has been said that people perish because of the lack of knowledge, you may have all the opportunities but if you lack knowledge to apply at a given time, then you will have lost everything.
Do whatever it is within your means to read about your areas of interest but also diversify and know about other spheres as you improve on you area of gifting.

Tuesday, 11 July 2017

Deal With Consumerism


Proverbs 21:20 (NLT) – The WISE have WEALTH and LUXURY, but FOOLS spend whatever they get.
Are you the type who spends whatever you get, you might have to just check through your life and examine the things that actually make all your money go away and puts you in a place to keep borrowing, are a consumer or an investor, is your appetite for spending great or are you a person who surrounds him or herself with those who a spend thrifts. You could be eating your future a way by the decisions you are making right now - every decision has a consequence. Indeed our lifestyles really dictate our personal finance.
One of the things that we all need to agree on is that we have a large appetite for many things. You find someone having 10 fleets of cars, yet you can only drive one at a time, having 5 smart phones, yet you can only use one a time, having 100 pairs of shoes yet you can only put on one at time, in fact we have a lot of things that we have spent on that are not being used. Everything you acquire should have a purpose, because without a purpose, abuse is inevitable.
We live in a world where a phone manufacturer will release a new version of the phone but with only one or two enhancements. The first thing that comes to mind then is that we should have the latest, so we keep saying I need to upgrade and the upgrading comes with an expense that is not even planned for.

Until we deal with our urge or desire for things, then we shall remain enslaved or controlled by what's coming out there. TV adverts, music videos or even movies have been the place where many adverts are pushed forth and the more we feed our minds on such things the more it becomes normal to acquire things you don't need to impress people you don't know. It is better for adverts to come and find you prepared, because when you are prepared, your spending will be purposeful. You can't be caught off guard and it will also build self control and kill the urge to want what you don't need.
We have to delay gratification if we are to win with money. What we hunger for simply becomes a god in our lives, it becomes our master because we have failed to master money by telling it what to do.
Our lives have also been programmed. You find on such and such a day there is this big event, it isn't bad to go out but it is good to plan your going out to avoid being caught up by the crowd and having to borrow to keep spending to keep a lifestyle that is superficial and isn't adding value but only destroying your destiny.
When you make money, the first thing to do with it, is not to spend it but to save. Think like a farmer, farmers always have to keep seed after every harvest for the next planting season. If you have no seed then you might as well have no food. Remember your ego can cost you, selling that car and using a taxi might look like you have dropped but it is just part of the game plan. I know of someone who left a very expensive house they were renting and went to a cheaper but still good place.

Here are a few things to note:-
1.Don’t spend money you have not made (This makes many borrow with the hope that money will come, what if it doesn't?)
2.Don’t be under the slavery of your desire or the good life
3.Don’t try and live by other people
4.Don’t eat tomorrow’s food today (Always save)
5.Don't buy out of impulse
6.Plan
7.Work on a budget - A budget tells you where your money should go.
8. Save to Invest (Saving is not for addition, it is for multiplication (be fruitful))
9.Think long term (Be Visionary)
10.Cut down on your expenses.

Read more Is Impulse Spending Ruining Your Financial Goals?

Friday, 7 July 2017

Debt Doesn't Have To Be Your Portion

According to Merriam Webster Dictionary DEBT is  "a state of being under obligation to pay or repay someone or something in return for something received : a state of owing"


No one on this earth wants to be under the spell of debt, the scourge of being taunted all the time that you owe this or that. One of the greatest forms of slavery in this modern day and era is financial slavery which comes through borrowing. This is coming about because people have a big appetite for luxuries, they want to own 5 fleets of cars, yet they can only drive one at a time, they want to build many homes to stay in yet they can stay in one instead of building for rentals so that they can make income out of it.

We live in a fast paced world where people want things in an instant, talk about quick money, students have ended up betting their tuition fees with the hope that they will make more money and pay later, it hasn't always been the case that money will be made, in fact it has gone the other way round. A lot of lack is needed to do gambling (betting), it is a real fight against the odds, you make it one time and win and you start feeling like you can do this over and over forgetting that in life, a point comes where things won't work the way you want. This even kills the desire and value for work. Check out my blog on how Work Is Profitable https://arthurkmo.blogspot.ug/2017/06/work-is-profitable.html

We have reached a point where Financial Services Companies like Banks, Mobile Money have learnt that people love to consume, and consumers are easy targets for all kinds of things. If you look at adverts around from Banks, you will be told, you can get a loan for a car (instead of saying save for a car), you will be told you can get a loan for a wedding (instead of being told save for a wedding), you will be told by telecom companies that you can borrow airtime or money when you charge is running out, as much as money is being made by these companies or organizations, we the consumers are turning out to be slaves to these schemes. The messages are becoming normal and we are becoming victims. But we can control our own space, money and time by managing ourselves.

Fight DEBT and bury it, give yourself the ability to to be a LENDER and not a BORROWER. We all know the consequences of racking up debt especially if it has not been put into something that generates income. Debt is something that takes a way your peace until it is dealt with, you can not do much since it consumes the whole of you.
If you are to get a loan, it has been said, only get it to improve what you are already doing. However if you can avoid it, please do and work on your personal finance journey, make sacrifices, be obedient with your budget, create avenues to give back to the world.
Proverbs 22:7– “The rich rules over the poor, and the borrower is slave to the lender”
"Most of us have heard this verse a million times, but most of us still use debt to fund our lives. 2/3 of all people, and 1/3 of high income earners are living paycheck to paycheck because of debt." - Jason Cabler
"Debt limits your freedom to live life the way you want to live it. As long as you have debt you are obligated to put much of your time and energy toward paying it off. Just think how your life would be different if you had the freedom and choices that come with having no debt."
- Jason Cabler
The bible says we should owe no one anything except the debt of love. If you want true financial freedom in your life, then commit yourself to getting out of debt. You will be amazed at the difference it makes in every aspect of your life.

Having debt undermines your ability to build wealth and puts your financial plan at risk. It’s simple. Steer clear of debt - Dave Ramsey Read more from this link on how to achieve financial freedom

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