Money- It is one of the emotional charged issues of our lives. Most people are willing to give up so many things in accumulation of more; they give up time with family and friends or even destroy their health just because they want to make more money. Some still go extra mile in performing money rituals using friend, wife, close relatives worst still children just to acquire more money, to many money answer all things and they will do anything to acquire it, some pretend to unimportance of its existence. They deal with money by pretending it doesn’t count in their lives. Contrarily, financial pressure or inadequacy is a natural phenomenon that permeates the genes of all of us. We all need money for surviving today in the society. Lack of money translate into a lack critical resource while some people share opinion of money as the source of pride, envy, greedy even contempt.
Intellectually you and I know that money is just a means of exchange. Not the root of all evils or maker of dreams as some say, it’s not even ultimate source of power and freedom. It’s part of the process of all.
A 15cm x 71/2 cm paper that society imposed on us through conformity and conditioning of being the measurement of wealth, Possession of handsome of it seems to give a wonderful world to the master, while lack of it is horrible. Many make mistakes of thinking that their lives problem would dissipate if they had enough money. Nothing can be further from the truth. Earning money does not guarantee happiness and long life of luxury.
Most people get interested in investment everyone else is. When stock is ‘bulling’ the want share of it, they want take part in real estate flipping. The time to get interested is when no one else is. You cannot buy what is popular and do well says Warren Buffet. That is what salvage great investment from good investment - when people seem to be keen interested in outstanding performance of stocks that is when average investors blindly invest usually at the top of the market if not exactly at the top it will be closer . Average investors refer to those who never seek knowledge and understanding of the market. The people who invest according to what a friend says without taking much time to do research about the investment programs.
If you want invent professionally in any market index, commodities, currency, bond, real estate, invest when vast majority of the people pay less attention to such investment. The belief still holds for many investment strategies because no one knows the performance of the market until you are told. It is prevalent occurrence among investors to be silent when taking advantage of investment opportunities that remain incomprehensible to many. The truth is that they trust their guy and research. Professional investors seek first capital preservation in any investment that will also guarantee good return. Sometimes good investment opportunities are infamous, inconspicuous among investors only available to insiders who play the real game of money.
A recession is simply a contraction of the economy. Time for financial beef up by government and citizen is during recession. A man who dreams of having glorious retirement at ripe age of 70years or more is likely to witness a recession once or more in his lifetime. This may either be translated as opportunities or impoverishment by the individual. We believe recession is time for living conservatively without considering investment again because of immediate loss of capital. Remember that every recession period creates opportunities for those who seek it. This means that there are underlying opportunities now that one can take advantages even when people complain of lack of circulating liquid cash. One thing I always remember is the rule of bumblebee. According to this law in mathematics, it is physically impossible for bumblebee to fly. Fortunately for her no one ever explained this to bumblebee, so she does. If you don’t know there is economy contraction you will go ahead to achieve what you want like some do.
Don’t subject yourself to discouragement when you make decision to embark on investment especially during this period when it is considered risky. Recession time like such presents more opportunities to find good investment people are scare of. All you need is to awake your prosperity consciousness.
The lame excuse we all have is lack of money for investment at this time either due to the capital and profit that have been lost to the previous crash. Still, there are many ways out of this bondage. This might not be as simple as I have assumed for majority or be the right answer for all and sundry but it will give you ideas of creating or generating money form exiting to invest for unknown future.
(a) Sell What You Don’t Need
One of the ways of generating cash for immediate investment is liquidating non-essentials, unnecessary liabilities you have acquired in the past that you have tagged as assets, the properties that have remained fallowed for months’ even years. Old car(s) in automobile repairer workshop, load of unused household kitchen utensils, outdated books in your bookshelf that other might need and bunch of toys in your store. You may have extra television or radio sets, blender, pieces of furniture, all this have market value today and should be liquidated for cash.
Don’t be deluded by what others do and misinterpret or misused want and need. Your want is quite different from your need. You may want latest Armanda 2009 model but all you need is comfortable means of transportation you can acquire with fractional cost of Armanda. You may want hundred disc loader home theatres instead of moderate sound system. There are instances of want and need today. Examine yourself should you have many ‘wants’ than necessary, sell them off to purchase the ‘need’ and save the difference for future investment. This will not only put more money back into your wallet for investment but create transformation in your home and lifestyle. You will acquire new brands items in the process
(b)Cut Back Consumption
A naira saved today may worth its twice tomorrow. The money you spend today is gone forever. Don’t think about what something costs; consider rather how much time it takes you to get the net money to buy it. The way to have enough money is to either create or earn it and the only way to grow in wealth is by producing more than you consume. Consumptions rate grow dramatically everyday. Our taste for food, frivolous materials, fashions, parties has tremendously affected consumptions rate. We consume virtually everything that comes our way, no matter how much we earn there never seems to be enough. We allow Parkinson seed to germinate in our garden.
Its time we looked back to possibility of alternative to our ways of consumptions. If we can cut consumption on food items we can as well do so in communications, fashion, transportation or entertainment.
In Nigeria communication is considered most expensive in Africa which is killing. Inter-network communication calling rate is alarming for our major operators yet no one can deny himself of communications with family and friends, boss, office mate and colleagues. Cutting back the amount you spend by scheduling your minor and major calls to off- peak period with reduction in tariff. Calling friends for gist’s or gossiping can be scheduled to mid-night calls that seem to be free for some network operators. I cannot over emphasize this, if you want to know how much you spend on calls, start today by recording every of your calls and the amount spend. You will be amazed with sum total at the end of the month.
Your children and wife should not be left out if you are married with kids in this development. They are equally part of the moving train. Don’t feel guilty by putting your foot down and closing your wallet. It is an opportunity to give your children an understanding of basic economics. If your wife or child wants something, don’t just deny them but let them figure out what they are going to do to or create to get that. This process will increase their financial education you are trying to teach them. I believe your wife will be an advocate of financial independent however you may not have to struggle much before she will comprehend your actions
Entertainment like fashion should also be taking into a check during this time because you don’t want boring life; you want to take fun out of life. A life that you are used to has almost reaching climaxed. An evening of drinking in a bar, restaurant meal, Asun spot and palm wine joints every Saturday can still buy 1000shares unit of penny stock. Friday’s night clubbing and partying can be totally stopped or reduced. I know you need certain form of recreation or social activities especially the one with business associate or colleagues. You need to be more selective of what party to attend. It costs you nothing than discipline to refrain from the multifarious attitude that is ruining your finances. In fact your wife will be extremely happy if you spend more time at home instead of your normal joints. This transformation will bring good and everlasting relationship back to your home concurrently improving your finances thereby causing soaring of your self esteem and self confidence about what you are capable of achieving in life.
When you try this you will discover dramatic changes in your life and finances within a short period.
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