To be financially successful, you have to learn to spend less than you earn. You have to learn to save. The starting point on your journey to financial prosperity is for you to cross the line from foolishness to wisdom by fighting your appetite.
You must fight Parkinson Law which says that expenses will always rise to meet income. Learn to save. It is a scriptural principle. In the world’s financial system, you are advised to save at least 10% of your income.
When you have cultivated the habit of saving, learn to invest, and let the law at compound interest work for you over a long period of time. It is also important that you consistently increase your earning ability. If you set goals and you really desire it, God will give you the ability to develop better skills. Your earning power should not remain the same year in year out.
You should increase over the years because the path of the just is like a shining light that shines more and more until the perfect day. Your income should increase every year, so also your investment.
“A prudent man forsees evil and hides himself. The simple pass on and are punished” Proverbs 27:12.
You need to hide yourself from some people and some advice. Go for experts and people who have personal result.
If you want to get rich quick you will get poor quick.
There is a law of perspective which says that the longer the time you take into reckoning while taking your decisions and actions, the higher you rise on the ladder. If you want to be rich quick, you will get your fingers burnt.
To be smart investor, note that the higher the risk you take, the more money you make. If you want to get the best returns on other companies, invest in new companies in whose management you can trust. New companies yield terrific returns because the managers of such companies are usually passionate and the rate at which their income multiplies is often faster.
Another area we should invest is real estate or landed properties. Properties will always appreciate except there is unusual depression in the economy. Properties appreciate along with inflation because land lords must pass their expenses down to their tenants or to those who want to buy properties.
The rate of appreciation of property is usually phenomenal. Look for what you can afford for now, it will appreciate over time.
Conquer the fear of Lack. It is not as difficult as it seems. If you are a believer, you are assured of God’s favour. If you want to start your own business, you must learn to conquer your fear. You cannot escape taking exceptional risks if you must succeed exceptionally. The greatest risk in this life is to take no risk. Do what you have to do to get what you have to get.
Article by Irabor Mark.
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