27 Nov 2008

Take stock!

It's been a minute I know, I am the busiest I have ever been in my life and I am loving it. Learn to love being under pressure, it reveals all. The good, the bad and the ugly. I have allowed procrastination to steal a lot from me, if not for pressure I wouldn't know but now I am actively fighting W.A.P, war against procrastination! Lol!

Today's post is about taking stock, the more I read my Bible, the more I am aware how it covers every area in our lives. There's nothing you need to know that is not in the Bible. Today I came across this passage in Proverbs 27;

Be sure you know the condition of your flocks,
give careful attention to your herds

24 for riches do not endure forever,
and a crown is not secure for all generations.

25 When the hay is removed and new growth appears
and the grass from the hills is gathered in,

26 the lambs will provide you with clothing,
and the goats with the price of a field.

27 You will have plenty of goats' milk
to feed you and your family
and to nourish your servant girls.

What I learnt from this passage is the importance of taking stock. With our finances, especially these days we can't afford to be careless or mess around. In my last post I asked about the difference between assets and liabilities and which of them we were acquiring. Isn't it interesting to note that we are not asked the condition of our clothes or shoes but the condition of our flocks and herds? To me this means, take stock of your assets because your assets should fund your liabilities. From your herds you get money, wool from the sheep, milk and meat from the goats (i don't like goat's milk but you get my drift). If you take care of your assets, your assets will take care of you.

To get to a destination, one needs to know where they are. Financially, where are you? Right now, I am in an ok place but I'm definitely not where I want to be which is debt and financially free. Although my debt was used to fund an asset, it is a debt nonetheless and I want to learn how to reduce it. I ask again, where are you? What are the assets you posses, cashflow from real estate, dividends from stocks/shares e.t.c and what are your liabilities; monthly bills, credit card bills e.t.c. Are you living within or above your means?

For those with assets, how are they doing? I must admit, I'm a bit careless here, i want to trust what the stockbroker is saying, what the mutual fund manager is saying, what the real estate guy is saying BUT I need to do some underground work as well because in my experience, professionals talk posh and sometimes rubbish to those who don't know what to ask. So now, I'm making more effort to see how my assets are doing and how I can create more in this climate!

Remember the future you dream of is being created today. Is what you are doing today ensuring a better tomorrow for you.



simeone said...

this is so so true ..
success is not accidental so theres now way financial success can be accidental..thanks for sharing

Olamild said...

thanks 4 sharing

Truth said...

It is always good to take stock. It is in this that one knows if progress is being made.At fifty i come to realise that if what i know now, i knew ten or fifteen years ago, i would have advanced more. Praise be to God, as my day so is my strenght and i will be fruitfull in old age.So i am running with full force to educate myself and live what i have learnt.

The Boob Sistas said...

Thanks for visiting my blog. I'm also guilty of procrastination so...lol!!!

Compliments of the season.

Debbie said...

Well said wrote. taking stock should be a life style.
Love your blog.