Welcome to #MoneyWise on #InspireAfricaProject! Few days ago, a middle aged women met me in Kaduna and shared a powerful testimony that gladdens my heart. She said that when I came to their conference in Zaria last year and spoke on Money Making Opportunities, she got an idea of planting and storing beans. Because she studied it very well, she discovered the right time to sell the beans. When she did, she made close to N4 million!
Guess what? She said that she is building a bungalow right now to rent out so that she will be making more money from it while she continues with her beans business! What that mama said blew my mind. There are employees who are working either at Lekki in Lagos or Maitama in Abuja who does not think like that woman. Their plan for the future is just to buy the latest car or rent a duplex in the elite neighborhood so that they can belong to a certain clique.
How can we employ money?
1. Become An Employee-Investor. A young man who is working in a bank did something that blew my mind. He got some loan from the bank, bought a piece of land at the Lekki axis, and built four powerful houses on the property. Right now he has sold three and rented one out. He got hundreds of millions of naira from this project, and guess what? He is still living in a rented three bedroom flat! That’s wisdom!
He has also established a company that is already flourishing. This man could have settled like other employees and keep serving money the rest of his life. But he created an avenue to employ money and chose to spend little from what he earns by living in a rented apartment. There are people you call rich men, probably because of the cars they drive and houses they live in, but in reality, they are as poor as church rat!
2. Don’t Ever See Your Profession as A Means of Survival. One of the major reasons why people remain at a spot for a very long time and keep binding ancestral spirits is the habit of thinking needs not progress. For example, some tricycle (keke) and motorcycle (okada) operators literally see what they are doing as a means of meeting their needs. Because they don’t have any vision, they will remain in that profession the rest of their lives.
Your present assignment or career is not a means of meeting your needs, but an avenue to create lasting wealth. If you see your job as a means of livelihood you will never think of saving some money to establish your own business. I know a particular man who has remained a motorcycle operator for over twenty years. He started the business when he was young, he is gradually getting old right now, and he is not thinking about doing something else because he is meeting his family needs. The very day he becomes terribly sick the family will begin to struggle.
If you must operate your tricycle daily before you can eat, it simply means that money is your boss. In fact, you’re like an employee who depends on his salary to survive. I shared the story of a young man who was using his motorcycle as a means of livelihood with us in January this year. Then he read three of my books and learned two things among others.
What are these two things!? Firstly, he learned that he should not see the motorcycle business (okada) as a means of livelihood, but an avenue to raise capital for the business he will establish in future. Secondly, he learned how to be frugal. He told me as at the time we met that he saved N900,000 within three years, and was planning to establish his own business. Always think progress not settlement. No matter the position you are occupying right now, your future is bigger than your yesterday!
3. Invest Massively in Real Estate. I like real estate because it doesn’t require my presence to appreciate. Just make sure that the documentation is right because the proof of your property is not the land, but the document. If you read some of my books like Twelve Pillars of Financial Succeed or 15 Laws of Money, you would have come across an elaborate discussion on real estate.
Two-thirds of the earth surface is covered by water. The implication is that as the population explodes, people will keep relocating. That is why I insist that land cannot be far. About twenty years ago, the Lekki axis in Lagos that is thriving today was nothing to write home about. Between twenty and twenty-five years ago, the Redeem Camp along Lagos-Ibadan express way was a jungle. The best time to invest in real estate was twenty years ago, the next best time is right now! Let money compound itself for you through real estate.
The idea is to get a job if you want to, learn the rudiments of running an organization, save at least thirty percentage your income or salary. If you think you know exactly the kind of business to establish, resign and start immediately. As you make profit, save a certain percent for the purpose of investing in real estate.
If you want to know the value of money, multiply it in years. If you started saving N5,000 from the first day of 2016, you would have saved about N1,295,000 by now. If you chose to save N20,000 daily, that would amount to N5,180,000! It’s not too late to start, now is the right time. Remember, don’t just save money for the sake of it, you must have a project in view, otherwise you will be helping your bank to become richer. In all you do, always employ money to work for you. To be continued. Wisdom is profitable to direct!
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