10 WAYS TO USE MONEY
What would you do If you are given the keys to the money vaults of the Central Bank of your country?
Do you know that you are in control of your money? Yes! You are absolutely in control of whatever amount of money you earned.
You always have something to gain or lose even if you don’t do anything with the money you earned either as wages, salary or profits from your business.
In this episode of Investing 101, I’m going to show you 10 Ways to Use Money, irrespective of how much you are earning, earned or owned.
Let me quickly say this; “those who chase money don’t get it.” Surprise? Oh, no. You don’t have to chase money before you get it.
Meanwhile, money is to be used judiciously, which is an ideal way of using money in life.
Some of the things that I will be sharing with you are from practical experience of my active involvement in the financial market for over a decade coupled with some extensive research about money.
These are some of the ideal ways to use money:
1. SPEND IT: I am sure that over 85 percent of the global populations are of the mindset of spending money that comes to them. Yes. You heard me right.
Although there are different ways of spending money. It could be positive or negative in nature depending on what the money is used for.
The question that you need to answer is; how do you spend money? Let me leave that to you for now.
2. STORE IT AT HOME: It will surprise you that even a lot of educated people including some politicians still store money at home; in septic tanks, you name it. While some people don’t even have or operate a bank account.
I’ve heard someone who said to me that he can never operate a bank account for reasons best known to him. And I asked him; how do you handle and manage money? He couldn’t give a meaningful answer.
I need you to consider the risk involved in storing money at home or elsewhere that is not safe.
This is a sure way to lose money easily because inflation could slowly erode its buying power unaware.
3. SAVE IT AT THE BANK: Do you know that every bank across nations of the world is in the business of borrowing your money?
Yes! By opening an account, you are lending your money to them until you need it even though you can view the balance through your phone or via the internet. What you are seeing is called virtual money.
What you get in return for that is a token as interest, which is a split of the profits made from what your money is used for by the bank.
4. INVEST IT: Yes! This is what you’ve been waiting for. One of the Frequently Asked Questions that I get from some of my clients during my Investment Boot Camps, Seminars, Webinars and One-on-One Consultations is; How Do I Invest Money Wisely and Securely?
Interestingly, there are lots of investment opportunities around us that we are unaware of and I find it difficult to explain why we are not tapping into them.
In the first episode of this series, I shared the Federal Government of Nigeria (FGN) Savings Bond investment opportunity with as low as N5,000 and it was amazing that so many people called and walked up to me to ask how they can be part of it.
This investment opportunity has been on for some time now while some smart investors are already cashing in without stress.
Well, I have more of such secured investment opportunities to share with you in the subsequent episodes of this series. Watch out!
Where To Invest Money
This section will lead us to the next channels of investing money, and I will be glad to share them with you as long as you will promise to take a step into your financial freedom immediately after reading this article.
5. INVEST IN YOURSELF: Wow! You’ve got to be kidding me, Taiwo 😊 Well, you heard me clearly. Invest in yourself!
This is one of the best investments so far, from my years of experience as a business and financial market coach and consultant.
If you are looking for secured investments, this is one of them. Money invested in yourself is not a loss. You will make more of returns on your investment over time if you rightly position yourself for the opportunities ahead.
You may want to ask; HOW CAN I INVEST IN MYSELF? Good one.
- Buy and read good books.
- Attend training, boot camps, seminars, webinars, conferences, expos, workshops that will add value to your life and make you a better version of yourself.
- Get that degree that would support what you are doing or what you are trying to become in life.
- Go on vacations. There are misconceptions about vacations. Vacations are not luxury or for pleasure alone. Great ideas and business opportunities are generated and ignited through vacations. So, plan one at least once a year.
Wow! This is getting lengthy and I did not plan to bore you with the lengthy writeup.
Permit me to drop my digital pen at this point and continue in the next episode by the grace of God.
Thanks for reading.
Business Coach | Mentor | Consultant
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