What Are Your Financial Emergency Tools

Photo by Tory Bishop on Unsplash

Life has taught us so many things and we continue to discover so much more every day. The beauty about life is that there is no quick-fix solution to everyday problems but there are universal principles that can be applied.

Whoever owns and drives a car, in their boot their are tools that are needed for any emergency that occurs. Often for a properly set car, the boot will have a car jack, wheel spanner, spare tyre, toolbox, etc. The manufacturer of the car doesn't put those things in there for decoration, they all have a purpose and when in need, they come in handy.

Whenever you travel, travellers have key things they must carry while travelling, things like a first Aid box, extra clothes, extra cash, these days power banks for smartphones is very handy. While travelling by water, a life jacket is a must kit to have, there are extras for an emergency, for big ships, there are lifeboats that are tacked somewhere for an emergency.

We learn that you have to envisage that the road will not always be smooth even if you have always had a good drive or sail, those emergency tools are a must-have and it can't be taken for granted even if a serious incident hasn't happened.

When it comes to personal finance, we are often told to have emergency funds. An emergency fund is purposely for emergencies, it isn't for saving or even making money out of it. Sudden times like the COVID pandemic can come unannounced, it could take longer than expected, but the funds could help in such period, even sudden sickness, accidents, etc

Purpose To build an emergency fund that can take you through 3 to 6 months expenses as recommended by many financial experts, You can start by putting away 10% of your earnings towards emergency, be wise like the car manufacturers, you can drive and get a puncture, the spare tyre comes in handy until the original tyre is fixed, we need to be wise and do the same too even with our personal finances - Have an emergency fund.

It feels very uncomfortable to do such rudimentary things, but the road ahead doesn't spare anyone, you are better off prepared than ill-prepared. This is the rule of life, “Do the easy and comfortable and life will be difficult, do the difficult and uncomfortable and life will be easier”

#Transform #Impact #Empower

The Mindset To Start All Over Again When It Seems Uncertain

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Dear Readers,

"It is never too late to be who you might have been" 

- George Eliot

A happy new month to you all.

As we start the month of July, some of the greatest things in mind are How can we tackle Ignorance when it comes to Financial Literacy? How can we start small ventures with what we have? How can we sail through the COVID19 storm by beginning all over? I will be documenting some great articles to give us insight on a few things. I will share some videos as well. If you also have an insight, please feel free to share, comment, etc. Let us rally ourselves to become better with our finances, seek financial peace, build empires from scratch, and win in this area. We can not let ignorance rob us of financial well being.

I remember telling myself there are things I need to own by a certain age but it took a little longer, I remember thinking that after leaving University, I would easily get a job but that did not happen, I had to do other things as I prepped for them jobs, as I grow older, I get to realize what is even more important is how I use the resources I have to do other ventures. Things have never come that easy for me, you could be like me too and there are stories we can learn from you. But every day was a new day to press on, try something new and all those are valuable lessons for life.

I remember losing some good money to fake land purchase and it set me back but because I had the principles that I had harnessed over time, I started all over again.

One of my properties was also sold off without my permission and I had to give it up but start all over.

I lost an opportunity to get property worth some good amount of money and the money was diverted to other things, that fired me up to know that hey! my future is in my hands and I will have to work hard for my own stuff.

I remember being told by a relative, that you can not develop without a loan but I purposed to beat those odds, I purposed to try out doing something without a loan, as a matter of fact, my bank turned down my loan request and that pushed me to tighten my belt for 3 years without touching a particular saving I put aside. I told myself, "I can do it and did everything possible to walk that journey", it was painful, not easy at all, lots of sacrifices had to be made.

Can you change your mindset to start all over, can you build the mental fortitude to leave what is in the past and press on to what is new? Every failure has been a school of hard knocks for me because

I have picked the lessons and used them to get better.

When it comes to Children, Have you done anything in regards to planning school fees? It is tough when a child can't eat, can't have good shelter, can't get medical care, good education or even basic clothing these are deep-seated questions we need to tackle even when income comes in an irregular way. Hard times can fall on us suddenly and the wisdom God gives us when he tells us to study the life of Ants is that they are always preparing, always gathering for winter.

I have read some amazing articles, books and also watched videos that make my heart race, and in the words of Solomon, I would rather be rebuked by a wise man than praised by a fool.

When I read things like it is not the amount of money that counts but the plan, it makes me think twice how to use money.

I remember saying to my mentor, 'If I had more money, I would have a better plan.' He quickly responded, 'I would suggest that if you had a better plan, you would have more money.' You see, it's not the amount that counts; it's the plan that counts. - Jim Rohn

What's your plan? so let us make do and start all over, let us read on and most especially use the knowledge we will get. Allow yourself to be a beginner

God bless you all.

Happy New Month

#Transform #Impact #Empower