How to achieve financial freedom in 2020.
Truth is Africans remain beggars because we were never taught how to relate with money. Making money has a defined formula that we must get right from the go and apply consistently. We need to hammer home this message using all avenues. We cannot continue with the same habits come 2020 – 2030 the way we did with 2010 - 2019.
Some home truths about money.
Money is both a store of value and a medium of exchange. Most of us relate with money as a medium of exchange only. we do not know how to make money multiply. We get paid for bringing value to the market place. It can be in exchange for labor or services or for valuable material possessions. What we earn from active work should be treated as seed capital. If you do not save this seed capital and invest it wisely to work for you in alternative streams of income, you will work until you die.
Work is so bad that they have to pay you to do it. When you get paid, you buy stuff like cars, plots, gadgets. some even buy homes on mortgages. Advice 101; During your wealth multiplication and accumulation stage, avoid things that take away money from you to keep running, example buying a car that you have to pay insurance, fuel and parking for.
The best way out of this trap is to learn financial intelligence. To know how to save and invest savings in most profitable counters that will generate more money. Money saved in banks lose value due to inflation. You should only invest your money where it generates a higher income than inflation.
The rule of the thumb is earn money and save before spending. Spend what remains after saving. You should invest your savings to multiply and keep growing it. Practice delayed gratification by living on a low budget to save as much as you can during your wealth multiplication stage and accumulation and invest wisely. Time to enjoy will come. Accumulate and consolidate your investments till your 40s. This is one of the easiest ways to grow your savings.
Wealth is the ability to live on residual income generated by your investments . If you can live on your residual income enjoying the level of life you desire and your network keep growing, you have achieved financial independence.
This is what we want for you. It is what Azima exist to do for the willing. Those who are dissatisfied with their current status. We advice you to avoid debts. Spending in advance is dangerous. Its living life in advance . Big question, what will you do when tomorrow comes? When debts sabotage your desire to become wealthy?
With Profound Respect,
Coach Maina Azimio.
ICF- Accredited CPC & CPM
Conference Speaker and Corporate Trainer in Wellness.
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