Happy New Year!!!
May the Lord help you to retrieve all the blessings he’s deposited into 2014.
Do you have New Year Resolutions?
One of my new year resolutions is to spend more time reading interesting books, and I have added great books into my online cart for immediate order to fast track the process. Try to do something similar, if you are to get something from 2014; you’ve got to give something back in return for what you’re aiming at, which is definitely success. Your time is precious, spend it on productive activities and you’ll never regret your actions.
Like I said earlier, he that gives, gives and gives shall surely receives back in abundance while someone fond of getting getting and getting tends to keep asking and never move up higher, please don’t be the later.
Find one reputable charity organisation where you can commit some part of your incomes to for development, now do this often if God will not shower His outstanding and extraordinary Blessing and Grace unto you in this 2014.
If everything fails, try this once and let me know if it works or not by the end of this month.
On saving…have you any for the raining season?
“The money you save will come back to save you” – Abib Olamitoye (an author and the founder of ICH and Academy Suites)
It is strongly believed that we don’t pay ourselves out of all the monies we generated over a period of time. Why was that so?
We spend all on things and that’s been the reason behind our “I need more money to settle this and that” mindset. Do you believe if you can save 10% of all your income, you would soon be a self-made millionaire if only you can see beyond your present financial status?
Let’s do a simple math.
Assume that you earns #50,000 monthly income as a middle-class income earner in Nigeria. First thing you’d do is to remove proportionate part of the money; 10% as tithe (christians) or 2.5% as Zakat (muslims), and then spend the rest or keep some.
This the general believe about money, spend some and keep some, but little did people know that this habit of managing money can never guarantee opulence.
In his book, “Love yourself, pay yourself first” Doctor Olamitoye elaborated on paying yourself first is the best thing you can ever do to yourself.
Out of everything that the nature sends your way, you are to take our 10% for life savings; that’s the money which would eventually comes back to save you at a later time. Failure to pay yourself ten percent of every income always leads to lack.
Let’s reason together a bit.
The amount in this context is #50,000, right? Let’s assume this person saves 10% which is #10000 every month and use the rest to take care of other things, at the end of the year, this fellow will have #120,000 increase in his life savings.
The money will continue to increase in size as the person continues in this action of saving every ten person of his income after religious obligations. And this is where compounding interest comes into place! The money will continue to add up, thereby presenting the owner an opportunity to invest in the future.