My Dear Wealthy Friend,
I get emails and messages daily from people asking what they can invest in and they cite amounts falling within the range of N5,000 to N5m and more! For this purpose of this post, I will be discussing what you can do with about N1,000 – N400,000 in terms of investments. Please watch out for my other posts on other forms of Investments and what you can do with bigger funds.
Let me quickly differentiate between saving and investing (savings and investments). The act of Saving is setting aside an unspent sum on a regular basis from your income. The end result of this is SAVINGS (which is an accumulation of your saving acts). Your savings therefore is an Asset. Investing on the other hand is putting money aside for the purpose of profiting from it. It is for the long haul and the main reason for investing is to build wealth; that is making your money work for you. Your Investing acts culminate in you having INVESTMENTS!
A very fantastic New Week to you. Hoping you had a great and restful weekend.
Mine was quite interesting as I had another session of my Masterclass last Saturday. It was entirely mind blowing and I have realized that the more I teach these money principles, the more I see the beauty of financial freedom and the better I strive to attain it.
I woke up to this amazing whatsapp message from one of the participants and it put a smile on my face.
"Thanks a million for all you taught today Dear Coach. 💃🏾You literally brought me through Nur 1 to SS3 on financing today. Hopefully I would advance steadily to PHD level and more in the coming months/years"
Good Morning and Welcome to a Fantastic New Week.
As part of my personal development goals for 2018, I recently attended a training where we were taught the fundamentals of Forex Trading and I must say that it's one of the most interesting things that I have encountered in recent times. After trading in the market a few weeks, I thought to share my experience with you.
You see, we were told emphatically that the rate of losing money was higher than making money, but that most importantly, one needs to have a trading plan and stick to it as that would guard against unnecessary loses and greed especially when the profit rolled in. I found it quite difficult to believe the fact that one could make more losses than gains; after all you could be smart enough to prevent that and gain as much as you can instead.
My Wealthy Friend,
I hope you had a fantastic last week/ weekend.
Mine was great, save for my experiences with a new source of Income I was exploring. I got my fingers burnt a bit, but I am glad for the new skills I acquired. I will share the gist with you sometime soon hopefully.
There are two basic ways of having more money; Earning More Money or Reducing Expenses.
A few years ago, I thought making more money was the more difficult one and that reducing expenses was easier; but with all I know today, I beg to differ! I have realized and concluded that it's a lot easier to make more money per time. What bills do you want to reduce; especially when you live in a country where Consumer Price Index(CPI) and Inflation rates are high relatively to other countries?
Dear Wealthy Friend,
A Pleasant Monday Morning To You wherever you are on planet earth.
I hope February is playing out just as planned with regards to your finances? Kudos to you if things are panning out well and more grease to your elbow if you are still struggling with one area or the other.
Remember, whatever you can conceive in your mind, you can achieve. Set out to achieve your goals and stay committed to them.
I was invited to speak at a church yesterday and I shared with them about the power of Investments from a biblical point of view.
It's a Blessed Monday Morning
I trust you had a great weekend.
During the course of the week, I had reasons to review the saving accounts I opened for my sons a few years ago. The reason was because I had recently opened an investment account for them and was considering if I should move the funds in the savings account to the investment account.
Dear Wealthy Friend,
Wishing You A Happy New Month of February !
Thought to inform you about what's happening at the Smart Stewards Tribe this new month :
The Smart Stewards "Record-Your Expense Daily " Challenge !
It's a simple one and here it is: Ensure to record every single Expense you make on a daily basis up to the smallest dime! How possible? Very Possible!
Great Morning To You! I trust you are in a fantastic place.
Feels like it's been ages I sent out something to encourage you; but I know I did send out a word of Motivation last week.
My Wealthy Friend,
A very blessed morning to you.
Last week, I got gisting again with a big brother/mentor of mine. You see, he never ceases to amuse me because he is the most frugal person I have met. Now what excites me about the whole thing is that He is a multi-millionaire; a billionaire actually!
I had to check my calendar again to be sure it's the 15th of January for real!
How have you been by the way? Pardon my manners....
Let me share with you a lesson I have learnt over the last two weeks.
You see, one of my 10 Sources of Income is the Production and Sale of Confectioneries and Pastries. Yes, 10 sources......You read that well. Haven't I shared the gist before? I think I have!( Hit the reply button if you want me to share the full details again *wide grin*).
Good Morning and Congratulations to all parents as our children go back to school today.
It's the fee paying week as usual and a lot of times, its an exhilarating week for most parents especially for the school term coming right after the yuletide. Proper planning is the antidote for Exasperation and like I usually teach, the best way to stay afloat of school fees stress is to always save on a monthly basis towards it.
How? Divide the total one year session's fees by 12 months and put that sum aside on a monthly basis. It puts you in a good position when the next fees come knocking. God's speed!
So now that work is in full swing and children back to school; How do we make the school session as enjoyable and financial ( and emotional) stress free as any other period of the year?
A lot of Parents, Mums especially still operate the pay-as-you-go method of shopping, meal-planning and all. It's a lot of stress especially for working Mums.
These few tips would help you navigate this school session.
1. Plan your meals ahead, make a reasonable time table of the meals for the entire week and bulk-shop/ bulk-cook where possible. Plan what the children would take to school on a daily basis also and ensure preparations are done the night before.
My Wealthy Friend,
A bigger congratulations to us all for making it into a year that promises to be amazing in all ramifications. Have you observed the excitement and optimism people have been expressing about 2018? It's a good feeling and I pray our dreams find a platform for expression in 2018 and beyond.
How was the transition for you into the new year and how did you spend your Day 1? Goals written? Savings plans made? Any Resolutions?
I had a very reflective and quiet first day of the year. Looks like nowadays, I enjoy being home especially during public holidays and festive period reading, reflecting and having a good quality time with the family. Real bliss it is I must say.
One of my sub-saving goals for 2018 is to put side N1,000 daily so I can have $1,000 come December 31st, 2018; so yesterday being the first day, I automated my daily savings for the year . One of the inner circle members at Smart Stewards also shared with me how she saved up N154,000 in her piggy bank between October 1st and December 31st 2017 by saving N2,000 daily. Goals!
This year, asides pursuing our money goals, I encourage us to pursue those things that translate to real wealth and this Article from Entrepreneur explains 8 Indispensable Elements of Real Wealth (of which 7 aren't monetary).
Cheers to a fantastic year ahead!
Tip 18: Leverage On The Power Of Extra-Ordinary and Divine Coaching( 18 Things You Should Do Before 2018)
What made you think I wouldn't send the last Tip of the series of "18 things you should do before 2018"? Of course I knew I had one more to go!
Before I dive into that, let me congratulate you on seeing the last day of the year 2017. I know this is a Sunday morning post; I have never sent out a post on Sunday; talk less of making it this early, but I can't contain the excitement of seeing the last day in 2017 alone. I am certain you are uber-excited as I am!
Glory to God for His mercies over us and ours throughout this amazing year!
Can I share this little secret with you?
Merry Christmas and Compliments of the Season to you.
My Christmas greeting is belated right? I know. I didn't want my message to be lost in the many emails you must have gotten yesterday. Beside, you couldn't have received all the Christmas wishes yesterday; some must be left over for today!( lol)
I hope you had a great one. Mine was uniquely simple; reflections, family time, TV, reading and just generally lounging around the house. I love festive periods; but they come and go so fast, so I endeavor to keep good memories because Moments become Memories and Memories become Monuments.
About that time of the year....
On a daily basis, we feature words of financial wisdom from different Smart Stewards members and sometimes from Guest Contributors. You'd be glad reading them. Enjoy!
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