Tag Archives: Personal Finance


photo credit: flickr.com
photo credit: flickr.com
Wealthy people are wealthy because they have good money skills.
Here are 7 money skills you need to be good at:

1. Treat and value each dollar or naira bill as a money seed

2. Control your money to the penny

3. Save at least 10% of the money you earn

4. Have a system for investing your money

5. Have multiple sources of income outside your job

6. Protect yourself with legal entities

7. Donate at least 10% of your income as tithe

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1- A feast is made for laughter, and wine maketh merry; but money answereth all things.–Ecclesiastes 10:19
2- Dishonest money dwindles away, but he who gathers money little by little makes it grow — Proverbs 13:11
3- For the love of money is the root of all evil –1 Timothy 6:10
4- Make money your God, and it will plague you like the devil. –Henry Fielding
5- Whatever may be said in praise of poverty, the fact remains that it is not possible to live a really complete or successful life unless one is rich. No man can rise to his greatest possible height in talent or soul development unless he has plenty of money; for to unfold the soul and develop talent he must have many things to use, and he cannot have these things unless he has money to buy them with. –Wallace D. Wattles
6- There is nothing wrong in wanting to get rich. The desire for riches is really the desire for a richer, fuller, and more abundant life, and that desire is praise worthy. — Wallace D. Wattles
7- The real measure of your wealth is how much you’d be worth if you lost all your money.–Anonymous
8- There are more important things in life than a little money, and one of them is a lot of money. –Anonymous
9- Money is a guarantee that we may have what we want in the future. Though we need nothing at the moment it insures the possibility of satisfying a new desire when it arises.
10- To acquire money requires valour, to keep money requires prudence, and to spend money well is an art. –Berthold Auerbach
11- Money is like muck, not good unless spread. –Francis Bacon
12- Money is a terrible master but an excellent servant. –P.T. Barnum
13- Try to save something while your salary is small; it’s impossible to save after you begin to earn more. –Jack Benny
14- Let us keep a firm grip upon our money, for without it the whole assembly of virtues are but as blades of grass. –Bhartrihari
15- Money: A blessing that is of no advantage excepting when we part with it. –Ambrose Bierce
16- The more men, generally speaking, will do for a Dollar when they make it, the more that Dollar will do for them when they spend it. –William J.H. Boetcker
17- When men are so busy making money that they have no time for anything else, then the day is not far off when they will have no money for anything else. –William J.H. Boetcker
18- Abstinence from enjoyment is the only source of capital. –Thomas Brassey
19- Gold has two significant shortcomings, being neither of much use nor procreative. –Warren Buffett
20- Money is the symbol of duty. It is the sacrament of having done for mankind that which mankind wanted. –Samuel Butler
21- They say that knowledge is power. I used to think so, but I now know that they meant money. Every guinea is a philosopher’s stone. –Lord Byron
22- Money never starts an idea; it is the idea that starts the money. –W.J. Cameron
23- Never stand begging for that which you have the power to earn. –Miguel de Cervantes
24- Anywhere in the world salt is good to eat; anywhere in the world money is good to use. –Chinese Proverb
25- Frugality includes all the other virtues. –Cicero
26- It is a common observation that any fool can get money; but they are not wise that think so. –Charles Caleb Colton
27- There is no dignity quite so impressive and no independence quite so important as living within your means. –Calvin Coolidge
28- Liking money like I like it is nothing less than mysticism. Money is a glory. –Salvador Dali
29- One penny on land is better than ten on the sea. –Danish Proverb
30- As a general rule, nobody has money who ought to have it. –Benjamin Disraeli
31- What’s money? A man is a success if he gets up in the morning and gets to bed at night and in between does what he wants to do. –Bob Dylan
32- Money, which represents the prose of life, and is hardly spoken of in parlors without apology, is, in its effects and laws, as beautiful as roses. –Ralph Waldo Emerson
33- Spend, and God will send. –English Proverb
34- ’Tis money that begets money. –English Proverb
35- Money doesn’t change men, it merely unmasks them. If a man is naturally selfish or arrogant or greedy, the money brings that out, that is all. –Henry Ford
36- Money is like an arm or leg-use it or lose it. –Henry Ford
37- Old men are always advising young men to save money. That is bad advice. Don’t save every nickel. Invest in yourself. I never saved a dollar until I was forty years old. –Henry Ford
38- The cure for materialism is to have enough for everybody and to share. When people are sure of having what they need they cease to think about it. –Henry Ford
39- The highest use of capital is not to make more money, but to make money do more for the betterment of life. –Henry Ford
40- Beware of little expenses; a small leak will sink a great ship. –Benjamin Franklin
41- He that is of opinion money will do everything may well be suspected of doing everything for money. –Benjamin Franklin
42- Money is of a prolific generating nature. Money can beget money, and its offspring can beget more. –Benjamin Franklin
43- Remember, that time is money…. Remember, that credit is money … Remember, that money is of the prolific, generating nature…. Remember, that six pounds a year is but a groat a day…. Remember this saying, “”The good prayer is lord of another man’s purse.”” He that is known to pay punctually and exactly to the time he promises, may at any time, and on any occasion, raise all the money his friends can spare…. In short, the way to wealth, if you desire it, is as plain as the way to market. It depends chiefly on two words, industry and frugality; that is, waste neither time nor money, but make the best use of both. –Benjamin Franklin
44- The use of money is all the advantage there is in having money. –Benjamin Franklin
45- Money is like love; it kills slowly and painfully the one who withholds it, and it enlivens the other who turns it upon his fellow man. –Kahlil Gibran

Let’s hear your own good thoughts on money!

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How To Choose Your Financial Mate

How to Choose Your Financial Mate

Fotolia_54609181_XSIt’s not a secret: relationships take a lot of hard work. It’s tough to intertwine lives, beliefs, and finances in a peaceful and harmonious way that satisfies both parties. You want things one way. Your partner may want them another.
There are constant compromises and sacrifices to endure. Whose turn is it to choose the movie? Why pasta for dinner again? Why do you get to buy a PS4, but I can’t have a new cell phone?

When you add money issues into the mix, things sour — and fast. So fast, they can occasionally curdle. Sometimes, there’s nothing left to do but throw everything away.
Start your relationships off on the right foot. By knowing yourself and your partner’s financial states of mind, you’ll ease many of those inherent tensions and make life more livable.
There are several things to consider when choosing your financial mate: money beliefs, values, and habits. These things determine what our financial lives are like, why we make certain decisions, and how we spend our cash.

What Are Your Money Beliefs?

What are your money beliefs? That money is sacred? That the more you have, the better off you’ll be? That someone else will always be there to help you? That there’s never enough?
If you believe that money is sacred, you won’t likely pair well with someone who believes that someone else will (and should) take care of them. They’ll look to you to do exactly that, and you’ll hold on to your quarters as tightly as you can, ripping the cloth of their universe.
When they want something, they’ll expect you to cough up the cash — and you’ll cringe at the thought of losing that dollar. Fights are natural, but resentment may eat away at you first. Sure, life is about compromise, but if your beliefs are at opposite ends of the spectrum, it’ll take forever for you to find that middle ground.
Have the conversation about money beliefs (and watch your partner’s actions) early on to avoid later beefs that can (and probably will) make life difficult.
But, it’s not all about the beliefs.

What Are Your Money Values?

Your values are what make you chase the things you want. When it comes to money, what you do matters. You can dig into your partner’s values by asking them a few questions.

Good questions to ask your partner about money values:

What’s important to you about money?
How do you spend your free time?
How do your finances express your values?
For some people, having a lot of money is very important. For others, they want just enough to pay the bills and won’t likely spend a lot of time working for more. These are polarized values. If you’re not on the same page, you’ll be swearing at your partner about why they need to work late every night, or why they don’t get up and work hard like you do.
Knowing your own opinions before confronting a potential (or current) mate can help you align your values and see where your financial future is headed together.

What Are Your Money Habits?

What money means to you, and what you spend your time chasing, are two essential indicators of how well you and your financial mate will fare — but habits are the true test for compatibility.
Picking up items as you want them, without regard to the credit balance, will drive the no-credit-card-option partner insane. Not giving up one penny to make “necessary” purchases will (of course) drive the shopaholic mad.
Pair up with someone who lives similarly to you. If you’re frugal, make your life easier by finding someone like-minded, rather than falling (and settling) for fireworks alone.
When you’re talking to potential dates/mates, look past the rose-colored beginnings and into the future. Going beyond goo-goo eyes and into frank discussions on finances will save you mountains of future heartache.
What have you found to be the biggest financial difference between you and your mate?

Originally posted in: moneyning.com

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The 7 Self-Destructive Habits Of Poor People You Must Avoid, To Become Rich!

The Rich do the things that make rich. The Poor do the things that make poor. When you stop doing the things that make poor, and start doing the things that make rich, you’ll surely become RICH. Find out what you must avoid!

8125974243_f6ce8726f2_n Habit 1: Inability to Save and Invest.

The poor work for money just as much as the rich do. But even though they know that “it is not how much money you make, but how much of it you keep and multiply that makes you rich”, they still are unable to apply that principle. On the other hand, the rich not only work for money, but more importantly, they send money to work for them, by applying the above principle.

Habit 2: The Poor keep poor company.

In other words, they do not go where the money is. If you want money, go where the money is! Some jobs, trades, businesses, careers, professions and locations offer better chances, not only for making big money, but also for meeting the movers and shakers of society and serving them. When you deal with the wealthy, their wealth must rub off on you, somehow. If your job, trade, profession, business, career or location is not leading you to that level of life you want to live, then why stick to it? Make a change! It is never too late to go where the money is. The earlier you do the better.

Habit 3: The Poor focus on financial survival.

The poor tend to forgo many of their needs and adopt the habit of continual self-denial. They cut-back on essential needs and even the occasional small luxuries. Instead of finding ways to create additional streams of income to meet their expanding needs, they focus on what next to forgo, to avoid debts. Thus, they perpetually fight a losing battle of expanding needs versus shrinking income.

Habit 4: The Poor expect a financial miracle!

Hence they get involved in pools betting, gambling, casino, and other get-rich-quick activities, hoping for sudden wealth that never comes. They end up making others (the pools and casino owners) richer, and they themselves poorer. The fact that casinos and pools betting are thriving businesses suggests that there are more losers than winners. While the poor WAIT to get lucky, the rich WORK to get lucky.

Habit 5: The Poor fail to recognize potential Money.

In other words, they fail to recognise money that is not yet converted into cash or paper money. Many poor people have dis-used assets, talents, abilities, specialised knowledge, information and hobbies that could be converted into cash or developed into full fledged businesses. But they are unable to convert or package these advantages into products and services that many people want and are willing to pay for. They forget that they can create enormous wealth by simply adapting their talents and abilities towards the improvement of life for many others, through the provision of services or products.

Habit 6: The Poor lack solid money-making ideas.

If you can generate workable money ideas, you can become rich. You are truly poor only when you lack ideas. If you cannot finance your money ideas, then approach benefactors or financiers with your workable proposals, money idea or business plan, showing how and where you want them to come in. If necessary, explain what results or profit you expect, and how they can benefit from it. Money will always chase good money-making ideas, well presented. The best ideas are simple and easy to finance.

Habit 7: The Poor give reasons.

The poor give all sorts of reasons and excuses for their failure and inability to become rich. The poor are good at not accepting responsibility for their financial status or station in life. They will rather blame other people and circumstances for their plight, failure and lack of achievement. Hear them. If I had a university degree! If I did not have a wife and children! If the economy was not into recession! If I were younger! If I had rich parents, etc. However, no matter what alibis they come up with, they still remain poor because alibis cannot translate into money.

Originally posted in: http://www.before40.com

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