To enjoy financial freedom you must know;
• How money comes
• How money goes
• and How money grows
There are 2 major forces anyone who wants to enjoy financial freedom must engage, and it is the forces of Knowledge and Discipline.
Knowledge means the information you need about money, the useful information you need about money. Information about how do you attract money – information about how you increase the volumes you receive- information about how you grow your money, and information about how best you should spend and Budget your money. – that is about knowledge.
The second is discipline. Discipline is the ability to engage the information you have received and engage it consistently.
Discipline is the ability to put to practice everything you have learned about money. How do you apply this knowledge to your life? How do you use this information to attract money, use money, and to grow money and that is discipline?
The moment you improve what you know and the moment you engage what you know you will begin to experience freedom in simple degrees as you grow.
So, today I’ll tell you a few things that I believe if you begin to do it will help you grow your wealth and grow your money.
SIMPLE PRINCIPLES THAT CAN HELP YOU GROW YOUR WEALTH.
1. SAVING: Only a foolish person squanders all and expects to have more. Nothing whatsoever should make you spend everything that you earn – nothing whatsoever should make you spend everything that you earn! To the nearest minimum at least 10% of all that you earn aside as savings.
In the book called the Richest man in Babylon, the author advised that a minimum of 10% should be kept aside as payment to yourself and I believe strongly that, that principle is effective, so saving is simply the portion of your earning that you keep aside to take advantage of opportunities that are around and that is ahead of you.
2. SPENDING: It is virtually impossible not to spend what you earn. WHY? Cause you actually need to spend to earn, so spending is simply the money you put aside for your expenditures. They are your expenses, they are money you need to run your life, day after day. Money you spend on stuff that keeps you going, money you spend that keeps you alive, money you spend on food, money you spend on housing, on transport, these are basic expenses that you must carry out in order to earn more and to earn better – so you must have a portion that is required for your daily upkeep.
3. SOWING: What so ever you sow, you’ll reap and whatever quantity you sow, you’ll reap. Now, sowing for me is the portion of money you put aside for investment purposes. What do I mean? It is money you put aside only for an intention to make more money. It is money you put aside so it can work for you. You are already working to earn money, you must begin to put aside money that in the future will begin to work for you. So the portion I call sowing is the portion you keep aside for investment purposes. They are money you keep aside to invest in assets and assets are simply things that give you money back.
4. SHARE: They say charity begins at home. It doesn’t matter how much you have if you what you have is not used to bettering the lives of others, then you simply do not have at all. This portion is simply money put aside to help other people. It is money you put aside so you can become a blessing to other people. The money you put aside so you can put a smile on another person’s face.
The money you put aside so you can improve the condition of the life of another person. Did you know? We are better off when we make life better for others. The moment you begin to give this kind of structure to your earning it will create room for more to come.