THE FAN FOUR OF PERSONAL FINANCES
At a question and answer session earlier this week, the moderator asked me what my greatest financial mistake has been.
You see, I have made many mistakes in the past and without them, I wouldn’t be where I am today.
My financial mistakes led me into researching about money management, putting to work what I learnt and teaching others.
Back to the question, the greatest mistake I made, was not getting financial literacy earlier than I did. But hey, better late than never. We are here and we keep going stronger!
In an Instagram post yesterday, I shared about my 4 pillars of personal finance. You might not see it in any textbook, but these are the 4 things I literally keep my eyes on and I have seen my finances do well phenomenally by practising them.
I ensured to develop multiple sources of income, because truth be told, my earnings determine how much I have to spend on other three. Have you read. The Cashflow Quadrant by Robert Kiyosaki?
I recommend that book as it explains how you can boost your Cashflow from different sources.
My expenses more often than not, are planned. I find myself spending impulsively sometimes but I spend wisely most of the time. Whether you earn or not, you have to spend money; it is better to earn and then spend smartly.
Savings are what I put aside from my income as a compensation for my hard and smart work. I save for different goals yearly and once I achieve them, I start all over again.
A major part of my savings goes into Investments.
Investing is putting your money to work, rather than just putting it aside ( saving). For me, it is as important as my earnings, as it truly reflects how much I have been able to retain for the future from what I have earned.
It is necessary to invest in short, mid and long term assets. If you have been struggling with investing, you are welcome to join The Smart Investment Club; where you would not only gain Investment literacy, but you will practically have opportunities to invest in as you mingle with intelligent people from all around the world.
Lead Coach/ Founder
Smart Stewards | The Smart investment Club
Financial Planning | Investments | Wealth Creation | Training