FINANCE FREEDOM: Identify Asset and Liability

What best can you do with the properties you have at your disposal?

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sset according to Oxford Advance Leaner’s Dictionary, is anything or person that is valuable or useful. It is a thing of value, especially property that a person or company owns… Note the word value. Thus anything that generates money and keeps on multiplying finance to you is called asset. For example wife, children lands building e.t.c. While liability is define as a person or thing that causes you a lot of problem or amount a person is expected to pay at a specific point in time. This infers that liability is what takes away money from you. You keep on spending on that thing in order to maintain it. It never brings you income, instead acting as parasite and grasshoppers in your life. For example, wife, children, immediate and extended family members, In-laws, building, car, phones, electricity and water to mention but a few.

 It depends on the individual in regards to the way life is viewed. Anything that you acquire in life can either be an asset or a liability. Your vision will tell if you are just a liability to the society or otherwise. The make up of your mentality will be very plausible as to whether you are surrounded by people of value. I mean those who add values to you, and not just creating problems that you have to sort out financially everyday of your life. If your family members are always falling sick, destroying properties, getting involve in one crime or the other then you’ve got to do something and put a stop to the mess. Are you into any business and even the capital is meant to settle debt. And your conclusion has always been you are managing, by the grace.

It is high time you break free from financial imprisonment.                              Check where you live, can you see asset or liability? The television you are spending money on to maintain is what the brother next door uses to multiply his income. How? He set it up for young people to come and play TV games and watch football matches. Oh there you are! For you to be financially free there is a need to differentiate between asset and liability.

FINANCE FREEDOM: Develop Your Financial Goals

You need to set goals for every part of your life.

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o set up goals is another way to talk about vision. To be financially free, you have got to develop both a saving culture and an investment culture. The saving culture is about keeping something (Money) possibly in the bank within your reach in case of emergency. You save against the raining day. Whereas investment culture is a long term financial deposit that can not be easily reached. It is meant for multiplication.

The crux of the matter is your answer to the following questions.                                                                          

What is your goal for saving and investing?                                                                                                                                    

Why do you put money in the bank?                                                                                                                           

Why must I put money in the bank?                                                                                                                                       

Why do you need to invest?                                                                                                                                              

What must you invest in?                                                                                                                                             

What percentage of your income do you save every month?                                                                                   

What percentage of your income do you invest?                                                                                                            

What is your monthly cost of living?

FINANCE FREEDOM: VISION

Habakkuk 2:3 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.

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he word vision is used most time to depict picture. It has to do with the picture of what you are and what you will be. The Bible school of thought about vision is enigmatic. According to the book of Habakkuk a vision speaks; it does not lie; it may tarries; it requires patience and most importantly it will surely come to fulfillment.

Therefore, vision is a picture of what you want to become, while it paints the picture of who you are. Whatever is around you speaks about your vision. Everything about your life, family and friends is a product of your vision. Show me your friend and I will tell you who you are. What your vision says is what will see around you. It speaks about you. It doesn’t lie. The kind of people you associate with pictures who you are and tell more about your future. If you have always been financially handicap, check yourself, where you live and your associates.

Many are those who are educated that are not financially literate. To be financially free has to do with painting a picture of what you want to become financially. Having a long term plan for your finance- where you want to be financially at a particular time. It is simply looking down the horizon.  Vision is: show me your plan, and then the Lord of the vision will release the necessary provision. No vision no provision. My friend! Where will you be in two (2) years time financially?

You have got what it takes to be free from poverty mentality. Poverty is a mental state. The man that is poor, is not just poor physically, he’s been mentally caged in poverty. That is why some people are given resources to trade with yet the money is squandered. A man who is under the imprisonment of poverty mentality thinks about the basic needs of everyday life- what to eat and then what to put on. Such a man never grows financially beyond the realm of refugee.