Unhappy with your finances? Here are 10 things that might help

1. Being Aware of your 100 bob is the main thing

Example: If you had 5,000 Shillings in your pocket, it might not be painful taking out 100. If you had 60,000, you may easily give away 500. You must avoid this! Betting companies ask you to invest ‘just’ 50 bob. It’s the ‘many’ 50 bobs that has made them millionaires. I once visited a friend who I could say is doing good financially, and we went buying milk for a cup of tea. Inquiring from the shopkeeper, we realized the price was 1 shilling more than normal cost. My friend asked we go to another shop. I asked him, “just for 1 bob?” He said, “Yea, until you appreciate 1 bob, you’ll never appreciate a million.” I’ve come to learn that to be true. If you’re despising your 100 bob, financial security might be a nightmare for you. 

2. Debt is a cruel master; Get out of it.

Example: Suppose you’re servicing a loan, the last thing you’d ever want to hear could be retrenchment. It means you must be loyal to your company at all cost. Nothing can be cruel as being followed to pay up – and you’re not in a position to. If you’ve never been in such a scenario, avoid it. If you’re in one, make it your first priority to do away with it ASAP so you can have ‘free’ and peaceful mind to build your finances.

3. Forget this "get rich quick" schemes.

Example: Putting 50 bob on a bet and wait for that 100 million. It feels great when you see that man holding a dummy cheque. What they don’t tell you is the millions of people who placed the bets. What about if you started selling handkerchiefs? You’ll not only be assured of an income, but you’ll be learning fundamental business lessons many are lacking. Those “send this link to ten people and start earning $20-$100 daily” links are a total waste of time. Nobody is going to give you free money. Good money must be worked for – there are no shortcuts.

4. Instead of saving for a future need, figure out how to make more money for the same

Example: If you’re planning to buy a motorbike, or you wish to treat yourself with a vacation trip, don’t say, “for the next 4 months I’ll not take meat and milk to save enough money.” Instead, say, “I’ll find a side hustle to raise money for my bike.” This will help you maintain your lifestyle and create another source of revenue.

5. Blame game must come to an end: You’re in total control of your life

Example: That your boss is the cause of your stagnation and you wish your dad gave you a better education. The problem is, nothing is going to change if we continue thinking this way. Instead, you should start looking for a better job and/or finding creative ways to invest your time to generate more money. My wife told me she’s figuring out on a business she can do for 2 hours in the evening after work. I thought, well, that’s quite something!

6. You should know Confidence and likability outweighs Technical Skills

Example: 2 young people face interview panel. One, with ‘not so good’ skill expresses himself with confidence and impresses the panel. The other has better skills but is dull and can’t explain himself better. Who will take the job? Thus invest your self esteem. It’s how much people can believe you’ll deliver that will sell you, not where your business is located or how long you’ve been in the field. Yes that counts, but your confidence to apply your experience is what will draw people.

7. Spend more on appreciating assets as opposed to depreciating assets

Example: Assume you found some fortune, you shouldn’t think of how you’ll dump your TV for a bigger screen, or revolutionalize your wardrobe or what better car is available. Instead, you can find an investment vehicle like bonds, purchase a piece of land or get the cash into a fixed account. Such assets will surely appreciate while clothes and cars will need maintenance while depreciating. Not that you shouldn’t buy a car, but be wise on what money should go where.

8. Don’t fear Failure – it’s Part of the game

Example: Most people can’t invest their money in a project until they’re assured it’s safe. Unfortunately, every investment has some degree of risk. I invested in a project and spent way over 250,000  Shillings and failed terribly. I am making plans to do the same project again not because I have free money but because I now know better how to run that business; I know what went wrong. If you continue fearing, you won’t attempt anything and therefore you’ll never grow.

9. Think out how the money at hand can work for you

Example: When money hits your hands, is what will you buy the first thing that comes to your mind? That’s financially suicidal. A person destined for financial freedom must think on how his money should produce more money. Putting the money in an investment vehicle with hopes that it will grow is not enough either; you must know how it will grow, where that investment institution will invest the money and why. This is related to number 7 above; I want investing thought to be natural to you.

10. Friends, friends, friends

Example: Just figure out people you associate with: Someone will update you on the newest episode of a trending movie series and there’s this one who’ll recommend a financial book to you. It’s plain truth, you’ll get rich faster by associating with wealth-minded persons. The choice is yours.

I hope that helps.

Any other way we can attain financial freedom you know of? Share your thoughts on the comment box bellow.

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