Tag: investment
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Stop gambling with your finances
When you invest in what you don’t know, you are simply gambling aka ‘try your luck’. Growing up, I remember itinerant scam artists who staged road shows to attract the gullible, promising instant prizes for picking the right card. All you needed to do was to pay the ‘entry fee’ and then ‘try your luck’.…
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4 Ways Robo-Advisors Are Changing Investing
By Kayla Sloan Most people know that as time passes, the world’s dependence on technology increases. In fact, technology is on display just about everywhere you look. Modern household appliances, cars, phones, and computers all use the latest and greatest technology in order to improve our lives. Technology has even impacted the investment world through…
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How to Become Financially Independent
“To become financially independent you must turn part of your income into capital; turn capital into enterprise; turn enterprise into profit; turn profit into investment; and turn investment into financial independence” -Jim Rohn Notice that the entire concept of Financial Independence is broken into six different categories that I have listed below.
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Income Streams: Thinking Like a Farmer
The average employee receives his salary at the end of the month. He goes ahead to spend it, and typically in the next month (or before then), all the money is gone with nothing saved. He is not enthusiastic about the coming month because the same scenario will play out. The common expression is that…
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How to Turn Your Finances Around
It is easy to feel trapped if your finances seem to be heading nowhere. When you are so used to being always broke a week or two after payday, living from paycheck to paycheck or hand to mouth so to speak, you may be trapped in the thinking pattern that nothing is ever going to…
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Are You Cruising on a Financial Treadmill?
If you are still where you were financially last year, chances are, you are cruising on a financial treadmill. Money comes into your hands every month, and you spend it on the usual suspects. By the time the dust settles, you are still where you were before the money came into your hands. You are…
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The Trap of Short-Term Thinking
It is very easy to act without thinking of the consequences of our actions. The key reason is that most consequences do not show up immediately. If you overeat, you do not become obese overnight. If you spend everything you earn, you will not go bankrupt in one month. If you cheat and do not…
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What is Your Wealth Conversion Ratio?
What percentage of your monthly expenditure comes back to you as positive cash flow? What percentage of your income, once you spend it ever comes back? For most employees, it is zero. This means if they earn N50K per month, they spend N50K per month and nothing ever returns. Their salary is on a one-way…
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How to Raise Money to Start Your Business 3
Going to a lending institution to raise a loan to start your business is not a good option, but in some instances, it may be your only option especially if you need to grow. There are many options under this scenario, for example, venture capitalists, private investors, banks, etc. Venture capitalists are also known as…
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How to Raise Money to Start Your Business 2
Apart from raising money through your savings, turning thrash to cash, and making good use of what you have (which should be your first option, another way of raising money to finance your business is by drawing down from your assets. You can easily sell some of your stocks and bonds to raise the required…