Tag: financial independence
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Budget Busters – The Layoff Monster
This is the most dreaded of all the budget busting monsters. This monster does not just bust your budget, it sinks it. You income suddenly comes to zero. This is the worst fear of most employees – being laid off. The mere thought of life without a regular income by way of a salary scares…
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Budget Busters – The Inflation Monster
Inflation, like taxes cannot be avoided. It is a fact of life, something you have to deal with and move on. However, you need to have an open mind. The natural response to rising prices is to throw more money in – increase your budget. This is not always necessary. There are other options. The…
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Who is in charge of Your Financial Future?
Most of us do not plan our financial future. We just hope that things will work out somehow. Some pin their hopes on gratuity and pension. They assume that the company they are working for will always be there. The winds of change will not affect it in any shape or form. The company cannot…
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Is Your Salary a Seed or the Fruit?
Your mindset towards your salary income determines what you do with it when it comes into your hands. If you think it is a seed, you will save and invest it for increased returns. If you think it is the fruit of your labor, you will consume it without sparing a thought for tomorrow. There…
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Spend Below Your Income
Spend below your income simply means whatever comes in by way of income, do not spend everything. Routinely keep some aside for savings and investment. According to a Yoruba proveb – do not eat with ten fingers. Come to think of eat, while eating with your hand, only one hand enters the mouth (maximum of…
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Are You Heading the Direction You Want to Go?
Are you making progress in the direction you want to go financially? Are your savings, investing, and spending habits leading you in the direction you want to go? If you keep what you are doing today, will it take you where you want to be financially tomorrow? Are you okay with where you are today…
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Image Affluence: All that Glitters is not Gold
From the previous post – You can be Millionaire and Broke, we can see that having a high net worth does not necessarily translate to being cash rich. You can be asset-rich and cash poor, and may be forced to dispose of your assets at below-market prices when you negotiate from a position of weakness…
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Financial Independence: Nothing Changes until You Change
To summarize what I have said so far – to commence your journey to financial independence in earnest, nothing changes until you change, and nothing moves until you move. Goals are indispensable, and tips and how-tos can be invaluable. Support groups are wonderful. The engine is your mind. Until your mindset aligns with the direction…
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Financial Independence: Making Up Your Mind – 2
Your journey to financial independence starts when you make up your mind to take responsibility for your financial future. Nobody can do that for you. When you come to the point whereby you realize that your current financial situation is caused by the financial decisions you made in the past, not the size of your…
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Financial Independence: Making Up Your Mind
Making up one’s mind seems to be one of the biggest challenges we face when it comes to decisions making. We may desire to cultivate a certain habit but fail to gather enough willpower to follow through on a consistent basis until we get the desired results. We often make a few attempts and then…