11 Sep 2010

Wow! WoW!

Hello people

No I didn't think I was going to take such a long break from this blog. Thanks Truth for your comment. I will be back soon. I need to evaluate some of those goals and update on how far I've come and what is still left to do.

What about you? What plans have you set in place? We all know about the financial crisis but what have you learnt, are you learning, do you hope to learn? Please share your thoughts, click comment!

Remain blessed and highly favoured. You're a woman of worth, a woman of wealth. Start having wealthy habits.


8 Sep 2009

Wealth creation: Finding your why?

For I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink, I was a stranger and you invited me in,I needed clothes and you clothed me, I was sick and you looked after me, I was in prison and you came to visit me.....'I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.' Matthew 25:35-36; 40 (NIV)

Today I would like you to think about your motivation for wealth creation. Why do you want to have money. The verse above is one of my reasons why. The others I can think about at this moment are;

1) I love my freedom, I don't want to live my life stuck in a job I don't like just because I am tied to a salary

2)I want to pick my kids from school and bring them home. I want to see them on weekdays and weekends

3) I really, really want to make a difference in the lives of children especially in the area of education. I want to sponsor more children, I don't want to start an orphanage or an NGO, I think we have a lot of 'organisations', I believe in joining forces with those already on ground and on the field to make a difference. I would also like to support missionaries who have answered a higher call and forsaken all for the sake of Christ

4) I would like my grandchildren to be proud that I was their grandmother not necessarily because I left them tons of cash but if I can learn how to create wealth then I can teach it as well.

5)Before I start sounding like a Mother Theresa, I would like to say I like good things, I want to travel, I want to live comfortably not excessively but luxurious comfort

Your reason why keeps you on track, when you say NO to a pair of shoes so that you can invest in your ISA or buy some stock/shares or save towards a down payment on your first rental property. I want to go further and get what I call 'the picture of my future', snapshots that represent my why. This is an individual and personal thing, everyone has their own reason why so think about it and make a note of it.

Stay motivated!

Update: To take these thoughts even further, we need to reflect on what we are doing at this present time to make a difference. Yes, things might be tight but if it's difficult to give £1 it will be difficult to give £1,000,000. I would like to encourage us to find ways to be a blessing NOW in light of what we still hope to do.

Remain blessed and highly favoured.

6 Aug 2009

Financial statements

I'm about to round up reading Rich Dad's Prophecy, another recommended reading from the Rich Dad series. Mind boggling. Funny how a book written in 2002 is addressing a lot of the issues we are facing today!

I promised myself to always make at least 2 action points from every book I read and work on acting them out. It doesn't matter how small, change in the right direction is always a good thing. I'm working on my financial statement at present. This comprises of an income statement and a balance sheet. I've never liked accounting but Robert Kiyosaki in his book emphasises the need for financial literacy and an understanding of basic accounting for one to succeed in wealth creation goals.

Financial statements lets us know where we are on our journey, the numbers tell the truth and sometimes provide a necessary 'kick in the pants' to enable us strive to achieve our goals. If one does not know their present location, it might be a bit difficult for someone else to give you directions.

Both the income statement and the balance sheet show how much money is coming in and also how it is going out, one way or the other money must flow. The income statement shows how much of the money 'in-come' comes from your job or your assets, dividends, real estate or business and also how much is going out in expenses.

The Bible tells us to take care to know the condition of our flocks, I don't see anyway of explaining this any better. We will never be rich until we make more, much more than we spend, we will never be rich if we cannot say NO to some things. I'm looking at my liability column and assessing whether the things in my bad debt were really worth it! I'm lucky enough not to be paying interest but I must develop discipline in my spending habits if I am to succeed?

What do your numbers tell you? Buoyant, struggling or drowning, you'll never know if you don't face it.

Till next time, I leave you with the words of Albert Einstein that "to solve problems we need to go to a higher level above which the problems were created" to be financially free we have to go higher and yes we can!

18 Jul 2009

Minding your own business! (MYOB!)

So he said, "I am Abraham's servant. The Lord has blessed my master abundantly, and he has become wealthy. He has given him SHEEP and CATTLE, SILVER and GOLD, MENSERVANTS and MAIDSERVANTS and CAMELS and DONKEYS...Genesis 24:34-35

A river watering the garden flowed from Eden; from there it separated into FOUR headwaters Genesis 2:10

OK people, so what's Ms. Believer on about, what does minding your own business have to do with our finances. It's a term that we usually use to tell people to stop poking their noses into what does not concern them isn't it. Well yes, but this time I'm speaking to me and you for us to mind our own business. One thing I'm rapidly beginning to realise is that for wealth creation one has to begin to break a lot of mindsets previously held and begin to build new ones. Today I want to try and get us thinking on a different path, I truly believe that to become wealthy we have to go beyond the having a job mindset and begin to embrace the building a business mindset/becoming a smart investor mindset.

There is nothing wrong with having a job, I believe in working, everyone should work as I believe we learn from working on a job. We learn to respect authority, time management, honing skills like teamwork, negotiation and leadership. I'm always a bit wary of people who have never had a job and are in a perpetual state of waiting for capital for them to start their own business! Also, being on a job lets true entrepreneurs know that they're not just cut out for the 9-5 drill! I'm also not saying hand in your notice but to look beyond having a job to wealth creation through business ownership.

In our jobs, we mind our bosses business, we mind our shareholders business, think of this while we are working, our shareholders are sleeping because their money is working for them. I recommend everyone reads The Cashflow quadrant by Robert Kiyosaki. Mind boggling, I also just finished reading Duncan Bannatyne's biography 'Anyone can do it', totally mind boggling, requires a post of it's own but I'm very inspired. Except you work in the city and are expecting a bonus of half a million pounds or more, then for most of us who work in the real world, there is a cap on our salary, in most cases even with bonuses we cannot earn beyond a certain amount but when we mind our own business the sky is the limit.

The Bible says Abraham was rich in gold, silver,sheep, cattle e.t.c. I'm not a Bible scholar but I take this to mean that he was rich in assests, precious metals will always be valuable whether the markets go up or down and even more so when the markets are down because people realise how useless cash can be! Sheep and cattle, sheep provide wool, cattle provide milk, you don't have to kill these animals to gain from them, remember an asset is anything that puts money in your pocket. What are you accumulating? Women, we need to wake up. Shoes, bags e.t.c are good but I hope we are not using the money that could be working hard for us to amass things that the value drops immeadiately we step out of the shop. I'm not saying don't look good but take stock! All over the world, I hear people talk about womens rights and freedom but how can one be free if they are not financially free? Minding your own business doesn't have to mean opening a company, it is minding your assets, have you increased your assets this year? What are you rich in? Assets or liabilities.

The Bible also says that the river in Eden separated into 4 rivers, Tudor Bismark interpets this to mean that every believer should have 4 streams of income.Your salary can be one, but what else? Don't be so busy minding other people's businesses and forget your own. Remember for most of us there might be no pension because they are using our money to pay our grandparents now! I haven't done so well in increasing my asset base as I would have liked, I have to sit down and refine my financial plan. Part of minding my own business is getting the financial education I need to make wise investment choices and not just jumping on the latest bandwagon. One thing I firmly believe is not investing in ANYTHING or ANYONE I don't understand. Don't do it because everyone is doing it and please beware of very quick and very high return on investment. Usually by the time everyone is buying or doing something the educated investors have already made their money and smiled off to the bank.

An important thing to note, look at the richest people in the world, none of them are employees, they could have been at some point in their lives but they had to move to the business owner or investor side of the cashflow quadrant to make it to the big leagues. In the world we live in, wealth creation is no longer about being greedy or becoming a millionaire but the security that even if one were made redundant today, there is something somewhere that will pay the mortgage in the interim.

So I'm learning to mind my own business, what about you? I'll end this post with some words from two songs that show how the world is changing. When did it go from...

I will do anything for you
Yes I would
I'll give you all
the things you want
baby there's nothing in this world I wouldn't do (3T...anything)


She's got her own thing
That's why I love her
Miss Independent

Lol! MYOB!

16 Jun 2009

Financial goals 2009

Hi everyone,

This blog has really been neglected. I'm updating with my financial goals for this year, no use talking about things I'm not doing, I really need to get focused. Something else I realised about plans is that they direct your actions, it's funny how my thinking about money has changed these days. I'm finding it easier to channel my limited resources into different areas so that my money is working for me and it's thanks to the plans that I have.

£5 can be £5 in your wallet, £5 in an ISA tax-free interest account, £5 towards paying off debt, £5 towards my shoes, £5 for investment in shares or something else. Make your money count, make your money work for you.

Increase my financial knowledge

Read at least 8 financial books this year covering investment in shares/real estate and starting your own business

Write a post on this blog about what I learnt from these books and at least 1 or 2 things I will either start, stop or continue doing as a result of what I have read

Attend at least 2 financial seminars on real estate investment in the UK

Prepare my financial statement including income statement and balance sheet

Start a new stream

Research and pray about different options available to me

Divert at least £60 a month from ISA into RW

Get out of 'bad' debt

Determine how much I am owing and consolidate into one account

Divert 'excess' into AB and give card to Y.A

Pay at least £100 each month towards offsetting the amount

Make the most of my ISA

Set up direct debit for £x per month from salary account to ISA

Divert at least half of this amount into investments

Open KK account

Open KK account in 2 geographical locations

Research on options


Pay my tithe (10%) and offering faitfully from every paycheck and profit

Continue to support D.A through World Vision

Support another ministry outside KICC at least twice this year

Well, this is a very skeletal plan, I aim to refine it as I go along, rephrasing and also adding the time at which the goals should be accomplished by. I've already done some of the things on the list but I know I definitely still have a lot more to do. So what's stopping you? Get to writing. You haven't defined your dream, vision or goal until you've WRITTEN IT DOWN. Next step, 5 year financial vision!

Stay focused!

28 Apr 2009

Wealth creation: Setting goals

In the previous post, I discussed about having a vision for your finances. I hope you have put this into practice because as my pastor says "you cannot arrive at a destination that you have not defined". If my financial vision gives me an idea of where I want to be, setting goals are the vehicles to take me there.

goal:the result or achievement toward which effort is directed; aim; (Dictionary.com). The definition of a goal carries with it the implication that it's something I think about before I actually achieve it. Getting my finances in order is not going to just happen to me, I need to work towards getting to where I want to be.


Financial goals must be specific, If my vision is to save more this financial year, my goals ask the question, how much more? How will I save? My financial vision for 2009 includes getting the maximum amount of money I can into my ISA. If you live in the UK and you don't know what an ISA is well, one of your goals could be to find out what it is lol! That's about £3,600, my goal therefore is to divert £300 per month into my ISA, preferably by Direct Debit as I might not have the discipline to faithfully take it out each month so let the bank work for me a little.

Financial goals should be measurable, setting time dates by which time such and such should have happened will enable you make progress. I'm not so strong on this one but I know I shall get better. My financial vision includes increasing my financial literacy by reading at least two books on finances per quarter, so far I've read half, so I'm lagging behind but I wouldn't know that if I wasn't measuring.

Financial goals should be attainable and realistic. I believe in the area of our finances, our only limit is our financial education. Sorry to say, but I'm tired of an attitude that keeps waiting for someone to show up at the door with £xxx by someone sent by God to bless me, in itself I have no problem with it but why can't I be the someone that will be the blessing as opposed to the one waiting. So while I can say, I would like to save £1,000,000 from my salary it is very unlikely that my job will be paying me that amount any time soon so I set realistic and attainable goals. Setting goals and attaining them gives me strength to keep on pressing forward. I believe in a God of miracles who can open the windows of heaven and pour out a blessing, pressed down, shaken together and running over but into what container will he put it? Are you ready to receive the blessing that He wants to give you? When Jesus was in Peter's boat, there was so much fish that the net began to break, to me that means if he had a bigger net, he would have more fish so he couldn't receive beyond his capacity.

Financial goals should be timely, this is closely linked to measurable in that setting specific times by which you would have achieved the goals that have been set. I will need to review my vision and goals by the end of the month to see where I'm succeeding and where I'm lagging behind. Remember to review your goals regularly. This is usually where I have a problem, I write things down but do not take time to review and ask myself how I'm doing on the journey, sometimes some goals may need to be changed, scrapped or stretched but you'll never know if you don't review them.

In one of the earlier posts on this blog, I discussed about the motivation we each have for creating wealth. This is very important because this is what will keep us focused. I need money to do a lot of things, believe me even if you're going to be a missionary, your ability to go depends on someone giving the money that will support you while you are there. In these days when we realise that a 'credit crunch' is not actually a type of cereal, it is even more important to remain keyed in to why and how important it is as people (more especially as women..) to have our finances in order.

So what are your financial goals? Do you believe in setting goals specifically for your finances? Please leave a comment. My financial goals for 2009 should be appearing in the side bar soon.

Remain blessed and highly favoured.

27 Feb 2009

Wealth Creation...Write the vision

Then the LORD answered me and said: WRITE the vision and make it plain on tablets, that he may run who reads it. For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry Habakkuk 2:2-3 (New King James Version)

And then God answered: "WRITE this. WRITE what you see. WRITE it out in big block letters so that it can be read on the run. This vision-message is a witness pointing to what's coming. It aches for the coming—it can hardly wait! And it doesn't lie. If it seems slow in coming, wait. It's on its way. It will come right on time Habakkuk 2:2-3 (The Message)

Hi people, it's been a while I know and I apologise. 2009 is a year of better time management skills! This has been on my mind for a while now and I just thought to share it. Every year at KICC we are encouraged to write our vision for the year. Even now, Pastor Matthew talks about having 5 year, 10 year and 20 year visions.

What is a vision or what is vision? Vision simply means to see, I can see the words I am typing because I have vision but to have a vision is to see something that is beyond the ordinary. Martin Luther King had a vision about freedom. Richard Williams had a vision about his daughter's careers. So what is our vision for our lives? What is our financial vision?

We've been reading about money, spending it, making it, talking about it but now we need to have a vision for it. Think about 2009, where do you want to be financially. Think about it and write it down, no matter how small or big your vision is write it down. If possible, write it where you can see it on a regular basis so you can keep track on what and how you are doing. It doesn't have to be written with big words, the Bible says make it plain! it's not an essay it's a vision of what you want your financial status to be at the end of 2009, for some people it's simply becoming debt free. Say it out loud to yourself, my vision for 2009 is to be debt free, for some it might just be to acknowledge TRUTHFULLY to yourself what the state of your finances are..

In a few days (hopefully!!) I will put up my financial vision for 2009 on the right hand column of this blog. I like the way the Message translation says it, write what you see in BIG letters. The next step is actually setting SMART goals to enable you walk towards the vision. Your financial vision is like a destination, your goals are the steps you take to get there. That's a different post.

If you are a praying person, ask God for grace and strength. It doesn't matter where you are now, what matters is what we do from this point onwards. So what you doing? Get to writing...

Do you usually write down a vision for your finances?
Why/Why not?
If you do, where do you write it?

Remain blessed and highly favoured. 2009 has to be a different year for us financially.