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You & Your Finances

By – Joyce Paulsen


One thing that can cause problem between spouses, friends, neighbors and almost every relationship tie is MONEY. Even today, I had serious issues with someone because of money. The truth is, no matter how spiritual and out-of-this-world a person claims to be, they still cant do without money. Even the Good Book acclaims the fact that money answereth all things.

Let me be the first to confess. I like money a lot, like a lot. With the many personal projects staring at my face each day I wake up, I require money to accomplish them. I pass through the streets and I see good things I desire to possess but then I touch my pocket, and I have to respect myself and pass by. See dear, lack is not a virtue neither is it a sign of humility. So stop feeling humble each time you cannot pay your bills.

But the thing about money is that there is an art of managing money. You cant spend money if you dont have money and you cant have money if you dont make a profitable investment. So money management begins with making profitable investments. By the way, making money is not restricted to guys alone but for the ladies and guys alike.

My focus for this article is to bring counsel in the area of financial management. I often tell my friends that they will never achieve financial abundance if they dont see themselves the same way they would see a company. You are a business; you have money coming in (income) and you have money going out (expenses). Sometimes, you make profits and sometimes you make losses. Sometimes, you abound financially and sometimes, you are abase. This truth also implies that you have to periodically assess your financial position just as a company would with a balance sheet. A balance sheet is a summary of your assets and liabilities. Your assets are resources or things of value that you own while your liabilities are your financial debts or your obligations. The difference between your assets and your liabilities reveals your financial position per time. A positive figure means you are on the profiting side while a negative figure reveals you are making losses.

In order to manage your finances effectively, here are a few tips:

  1. Investment: You cannot manage money when you dont have money. I use to have difficulty saving money because I wasnt making money. So I save money on Monday and squander it by Friday because I didnt have sufficient streams of income to meet my daily basic needs. Always seek out investment opportunities to multiply your money. By this, I do not in any way mean Ponzi schemes because only the mentally and physically lazy engage in such. You can start up a business or invest in someone elses business. If you truly desire to make more money, you must solve more problems. Opportunities abound but are you willing to work?
  1. Structuring: Considering your current responsibilities/obligations, you must structure your finances to match your goals. Structuring involves assigning percentages of your finance to different projects, goals and responsibilities. You have to decide how many percent to save for your various projects, how many percent to meet your daily operations, how many percent for charitable deeds, etc. Make sure that your financial structure matches your current goals and responsibilities.
  1. Budgeting: Budgeting involves determining in advance what you want to spend on. My dear, you must learn to live within your means. Ask yourself- What can my current finances carry for now? Dont spend all of your money on things with little profiting. Dont go to market without a predetermined list especially if you are the spontaneous spender. Dont leave things to chance. Once in a while, you might have to be flexible but make sure that it is once in a while.
  1. Seek more investment opportunities: Making more money increases your responsibilities, so seek out ways to always increase your earnings by maximizing new investment opportunities. Never get tired of investing. As you thank God for all that you have, always aim for more.

Dont just read this article and change nothing in your finances. A truly educated mind is evidenced in a change of lifestyle based on information received. Let something change today.

When you Invest, Structure, Budget and Invest again, you will always be on top of your game financially. See you at the top!

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