Personal Tutoring is vital!!

Going through School is important, but if you really want to learn how to improve your financial you have to do it yourself. The key to your financial future actually rests with you.

You have to become aware of all avenue available to you to improve your financial status and learn how to exploit it.

This is vital to your success in any endeavour you embark on.

See you and good luck..

Personal Financial Statement - First and Foremost Things You Need to Remember

Every time you want to take with a financial matter, it is essential for you to recognize aboutpersonal financial statement. Just start from the basic knowledge of reading, writing, and using the personal financial statement.

Don't Shudder

When it comes to deal with a financial statement, the majority people will become easy to quiver. Everything that emerges in their mind will be the hard work, math, and boring works in which most people are not keen on doing these.

Nevertheless, this isn't a big problem for people who are skilled at finance. For them, a financial statement is quite easy to know about and can even be a fun and routine monthly activity for them, after they have got the hang of it all.

Actually, a statement of financial is significant since it can assist you gain greater control over your finances and your business. Furthermore, it will also help you charter new territory financially as well.

Since a statement of personal financial can assist you enter into totally new territory, reading this statement can be likened to skiing down a slope. Certainly, nowadays, almost everyone can make their own personal financial statement and read it and even use it to further their financial goals. However, these statements originally were almost completely applied by those with plenty of money.

The fact is that you'll be able to progress your financial in the next future after you have gotten to know your past financial history. The statement of personal financial assists to show you with greater clarity all that needs to be understood. Additionally, it especially proves its worth by identifying things that are holding up your financial progress, and so using it appropriately can assist you overcome hurdles and obstacles to a better financial future.

The key to your financial independence is your personal financial statements. Make sure that you'll use your time effectively once you enter the world of financial accounting. If you want to increase your personal finance and achieve your future goals, you should make full use of your financial statements.

You can also read on my free tips and guideline to guide you on your personal finance. I hope this will solve your problem related to health especially about personal financial statements.

How easy is it to make MONEY?

For some people this question rings daily in thier head. How do I make my first million? How do I make more money? What business do I do?

Well, its really no big deal. All you need to realise is that there are lots of opportunities out there that you can take advantage of. All you need to do is to be aware of opportunities in your environment. Meet the needs of people and they will pay you for it. Its that simple!

Realize that you are in a world where there are lots of opportunities that you can take advantage of and make extra money for yourself.

Good Luck

How Real People Grow their Wealth (Series) - 3

Track Your Spending

Keeping tracking of your spending (even for 30 days) allows you to know exactly what you spend.

Have you ever gone to the ATM and two days later asked yourself, "I know I got N20, 000 on Tuesday -- where did it go?"

You may remember some of it, but you will not remember all of it. Tracking spending takes out the guesswork and puts you firmly in control of your finances.

From there, it's easy to determine what you can cut or, better yet, what you can save.

How Real People Grow their Wealth (Series) - 3

Set Limits and Stick to them

Yes, that true. For you to grow your wealth you must have set targets that you have to stick to. if you live on a Budget of N30, 000 you need to make sure you do not spend beyond that.

Gonig beyond your set limits could have devastating consequences if it is done without consideration for your set plan for the future because you are actually disrupting the flow of investments you have set up.

Remember, that you are in control of your destiny so from now on, whenever you set your limits make sure you stick to them.

How Real People Grow their Wealth (Series) - 2

Welcome to the continuation of our series. I will start right away.

Save 50% of every raise you get

That is true and a good way to grow your wealth gradually. If for instance you earn N70, 000;00 p/m and you save N30, 000:00 and spend the balance every month you would be accustomed to a lifestyle of N40, 000;00. your company then decides to give you a salary raise of N30, 000.

What do you do with the extra Cash?

You add a minimum of N15, 000;00 to your saving to raise it you N45, 000;00 and then add the balance to your spending money.

Remember you need a plan on how to invest whatever saving you are putting away.

Good luck.

Till next time

How Real People Grow their Wealth (Series) - 1

For most people, wealth does not come in a WINDFALL but it gathers gradually as a result of years of hard work and diligence. Therefore, how do real people grow their wealth to the point where they have enough to sustain themselves.

I will be offering tips here for the next five to seven weeks on this. You will not find playing the lottery, participating in shows here but they are all sensible suggestions for savings. Let's get started:

Grow your own food.

Ha! someone might yell but its one sure way of having quality inexpensive vegetables all year round. You dont need a big plot of land to do this, you might even just be using the soil in the backyard of your house. What you will gain overtime as you do this will be invaluable to your health and well being.

Imagine the kind of lessons / life skills you would be able to pass on to your children / loved ones as you constantly tend to your plants.

Try it today.

Brand New Financial Year

Yes that is what it is. Welcome to a brand new year where everything we will be doing, saying, buying etc will be a fallout of the kind of person we have trained ourself to be from last year.

I expect everyone to be alert financially this new year as the global financial meltdown is expected to hit us more in Nigeria this year (2009), never mind what Soludo & the CBN thinks.

Well I welcomw all once again and we will certainly get rich gradually this year as long as we follow proven guidelines.

HAPPY NEW YEAR.€€

What is the goal this Xmas?

In the midst of our rush to earn money, our scramble to save for retirement, our focus on frugality, it’s easy to lose sight of why we’re doing this. What is the goal? What is it we’re trying to accomplish by getting rich slowly? For me — and for many others — the answer is Financial Independence.

Your Money or Your Life defines Financial Independence as “having an income sufficient for your basic needs and comforts from [sources] other than paid employment”. Financial independence implies freedom. It’s the condition of having saved enough money that you can do whatever you choose. Whether you elect to keep working doesn’t matter — you have enough saved and invested to follow your dreams.

But is Financial Independence just a pipe dream? Is it something only for the lucky and the strong? No, says James Stowers in his book, Yes, You Can…Achieve Financial Independence. It’s a goal that anyone can fulfill as long as she’s armed with some basic knowledge, as long as she makes smart choices.

The keys to accumulating wealthStowers starts with the basics. The first chapter of his book covers the history of money. (A little like this, but with a different focus.) The next few chapters briefly cover sources and uses of money, the dangers of inflation, and the extraordinary power of compounding.

Some readers might argue that this information is too basic, but I disagree; a firm grasp of these fundamentals is the foundation upon which Financial Independence is built. Stowers ends this section by offering four keys to accumulating wealth:

1. Start investing as early as possible. It takes significantly less money to accomplish what you want, and you have more time working for you.
2. Be determined to save on a regular basis. It is an easy way to accumulate wealth.
3. Begin investing with the largest possible sum you can. You will have more money working for you over a longer period of time.
4. Reach for the highest rate of return you believe you can safely receive on your money over time. Each additional percent is important. The higher the rate, the less money it takes to accomplish what you want.

Financial Independence is built upon these four guidelines.Confronting your financial challenges“In order to save money, you must fight to keep from spending it,” writes Stowers in the book’s second section. He encourages readers to set goals, to prioritize wants. “Since money can be spend only once, you need to decide which wants are most important. To do this, it may be helpful to place a value on each of your want.”Exercise: Pull out a piece of paper and list your wants. These can range from a new house to a hot tub to a trip to London to a new blender for the kitchen. Next to each item, write why you want it. (You might want a hot tub, for example, because it would allow you to relax with family and friends.) When you’ve finished, take another piece of paper and re-order the list based on how important each want is to you. If a trip to London tops the list, are you still willing to delay it by spending N10000/month for that gym membership you rarely use?

The challenge is to balance the present and the future. “Money has no value unless one has time and good health to enjoy it,” Stowers writes. He asks readers to know themselves and to make decisions based on their temperament. “If you have to be poor,” he asks, “would you rather be poor now or at retirement?” By planning carefully and investing wisely, you shouldn’t have to make this choice.

Planning for Financial IndependenceAfter covering the basics of saving and estate planning, Stowers describes the path he recommends to Financial Independence. He believes readers ought to save early and often, making regular scheduled investments in the stock market through the use of mutual funds.

Have a Merry Christmas.

Do You Know Where Your Money Goes?

If you’re having trouble making ends meet, or your savings aren't growing as quickly as you expect, the question of "Where did my money go?" may constantly be on your mind. Learning the answer may seem like an overwhelming task, but it's one worth doing.
There are many ways to track your monthly expenses. What matters is that you track expenses, not how you track them. You can track things in whatever way makes sense for you: using a program designed for that purpose, using a basic spreadsheet, or even good ol' pen and paper.

There are two main reasons to track your expenses:

1) Discover where you are spending more money than expected

Basic tracking will help you to cut back in areas that you didn't even know were causing problems. The classic example is how much your daily bread purchase adds up to over the year. This isn't done so that you’ll say "I can save x-naira a year if I give up my bread," but rather, "Are those daily bread purchase worth x-naira a year to me?" You may decide that your daily bread is worth it to you. You can't make that decision unless you have accurate information.

2) Set reasonable savings goals

You can't expect to save N10,000 a month (or whatever your goal is) if you only have N1000 left after all of your expenses. Without accurately tracking your expenses, you’ll likely be frustrated if you cut back on spending and don't see the results you expect -- even if your goals were not reasonable.

You will gain control of your finances after you decide which expenses are necessary and which can be cut back. Set reasonable saving goals for yourself. Limiting certain expense categories can help you to stay on track with your plan. This entire process will only work if you have the discipline to stick to your plan. Fortunately, the pain of passing up an "urge to splurge" gets easier the more you do it.

Do you care about your Finance?

Welcome to this first post on this blog on Personal Finance. It promises to be a very exciting ride. What is the present condition of your finances? Is it in good condition(no debts, liabilities etc) or in very bad shape (hiding form your debtors, including the bank representative). your Personal Finance should be of great concern to you as you must live within your means to avoid a financial crisis for yourself and your family.

Making sure your financies are in a great shape is what we will be dicussing on this blog and I m certain this will be the reference point for personal finance in the next few weeks. Managing your income and expenditure helps greatly as little details might end up taking a chunk of your money.

I would stop at this point for, but remember to be financialy prudent.