by Sharon Akinoluwa | May 17, 2023 | Financial Freedom, Kingdom Prosperity, Wealth Creation
The term personality refers to the set of traits and patterns of thought, feelings, and behavior that define who you are as a unique individual or that make you who you are. It’s generally a product of both biology and environment and remains fairly consistent throughout life. As a wealth seeker or one who desires financial freedom, it is most important for you to understand that your personality can determine your financial results in life. Personal Finance Is Dependent Upon Your Behavior This is essentially because nothing influences your thought, feeling, behavior, or response towards money like your personality. And don’t ever downplay the ultimate effect of all of these in your quest for financial freedom; because they ultimately determine your financial results and well-being. More than habits, the way you manage your money is majorly a reflection of who you are. If you fear and hate financial embarrassment, then there is a great tendency for you to be inclined toward saving money. Please, it is important to understand that one of the key reasons some people seem to be good at managing their money and always having surplus money, while others are always struggling with their finances is their personality. Your money personality plays a key role in your ability to handle and manage money. What Is Money Personality? Your money personality essentially defines how you relate to money or handle money. It is made up of the way you think about money, the belief system that guides your behaviors and actions. Your money personality is not limited to how much money you have, but much more...
by Sharon Akinoluwa | May 9, 2023 | Financial Freedom, Kingdom Prosperity, Wealth Creation
In your quest for wealth and financial freedom, it is vital for you to know the key components or elements of a wealth system. Your knowledge of these components will help your understanding of how they relate and impact each other and ultimately, how they contribute to your wealth-building endeavors. This will help you know what to downplay and what to emphasize and focus on. It’s important to know that the effective management of these components will determine your overall wealth. This is crucial! Now, here are the four fundamental components of wealth: Income Expenses Liabilities Assets 1. Income: This is the first rung on the ladder of wealth-building. It’s your number one wealth-building tool; a vital component of your wealth system. Though, a vital wealth-building tool, yet, it is not the most vital in your quest for financial freedom. Many people have ignorantly assumed income to be the most important element in wealth-building; as a result, they are all about salary raises and earning huge income. Unfortunately, wealth is not so much of how much you earn as income, but what you do with what you earn. Please don’t get me wrong. Earning a huge income is great, and can be a huge booster to your wealth-building endeavors. But in the final analysis, it is what you do with your income that determines what impact it will ultimately have on your wealth plan. What is the importance of a huge income that is totally spent on lifestyle maintenance? This brings us to the second key component of wealth. 2. Expenses: These are your financial outflows. This is money...
by Sharon Akinoluwa | Nov 1, 2022 | Business Success, Kingdom Prosperity, Wealth Creation
In all of human history, now is the most awesome time to pursue your financial dreams and aspirations. This is because building wealth and achieving financial freedom has never been this easy. The knowledge of how wealth can be accumulated has never been this accessible. The information, strategies, and principles of wealth building can be more easily accessed in the public domain than ever before. Doing a little study of what makes for wealth accumulation will establish the fact that there are three basic steps to it. One fundamental truth every wealth seeker must know is that building wealth is not rocket science. It can be achieved by engaging these three basic steps. Knowing and engaging these 3 steps will guarantee the acquisition of wealth any day, anytime, and anywhere on the planet earth. This is essentially so because these are universally tested and proven money-making strategies that will surely grow your money over time. They will empower you to make, manage, and multiply your money. Now let’s look at these three steps. The Step 1 The number one step to wealth building is to generate enough income to meet your financial needs and also have some money to save for investment. This is the first rung in the ladder of wealth building. This is the place to begin your wealth-building journey. When it comes to earning or generating income, basically, there are two main ways to do it. You can either earn passive income or earned income. Earned income is essentially linear in nature, that is, you are paid once for every work you do. While passive income,...
by Sharon Akinoluwa | Aug 3, 2021 | Business Success, Kingdom Prosperity, Wealth Creation
Your ability to earn an income is the first rung in the ladder of wealth building. The more income you generate, the more investable funds you tend to have for wealth building. When it comes to earning or generating income, we all know that the fundamental determinant of what you earn is the value you create for your clients or company. It is your contribution to your clients or the company you work for in terms of value that determines your compensation. The Law of Income simply says you will be paid in direct proportion to the value you deliver according to the marketplace Great principle….. You Need To Understand The Other Side Of The Equation Unfortunately, this is just one part of the equation. A half-truth can be very dangerous. This is the reason many people are frustrated today. They work so hard in their job to create great value for their clients or the company they work for, yet they seem not to be making headway financially. They become exasperated when they compare what they are earning with people who could not be said to be creating any meaningful value, yet earn huge income. For example, between a standup comedian and a university professor who creates greater value in people’s lives? The answer is obvious. The comedian can only make people laugh and feel good for a couple of minutes. The impact of his jokes is not a lasting or an enduring one. The question then is, who should earn more? Though you might want to argue that value is relative and it is as perceived by...
by Sharon Akinoluwa | Jun 30, 2021 | Business Success, Kingdom Prosperity, Wealth Creation
“I tell you, my students, a man’s wealth is not in the coins he carries in his purse; it is the income he buildeth, the golden stream that continually floweth into his purse and keepeth it always bulging. That is what every man desireth. That is what thou, each one of thee desireth; an income that continueth to come whether thou work or travel.” – The Richest Man in Babylon by George S. Clason Wealth is essentially asset-based. Real wealth is not a salary; it is not a paycheck. You are not wealthy because your salary is huge. Your wealth is defined in terms of assets that generate passive income. Generally, assets are either physical or nonphysical, tangible, or intangible. Commercial houses are examples of physical assets, while intellectual properties are good examples of intangible, nonphysical assets. Intellectual properties are essentially creations of the human mind and intellect that are legally protected. They include copyrights, patents, trademarks, and trade secrets. Your knowledge, information, and experience when properly harnessed, organized, and packaged become your intellectual property, with huge commercial value. It is, therefore, your unique opportunity and singular privilege to turn this intellectual property of yours into financial wealth. Listen, friend, your intellectual property is an asset; it is the real wealth of the information age. Indeed, a man is wealthy not because of what he has, but essentially, because of what he knows. What he has can be lost through disaster, obsolescence, or theft. But what he knows, he can never lose unless he loses life itself. The truth is that the world will always need great information and...
by Sharon Akinoluwa | Jun 3, 2021 | Business Success, Kingdom Prosperity, Wealth Creation
What if I told you that you’ve been lied to? What if I told you that wealth is not what you’ve been told and taught? Perhaps you’ve been hypnotized by the world’s concept of wealth. Did you allow the media, entertainment, and sports world to define wealth for you? Have you bought into the lies and fake lives of most professionals and senior executives who fly business class all around the world, live in the upscale area of the city, and drive the latest model of an exotic car? Listen, it’s time to wake up and shake yourself free of these shackles of deception that have held many down financially. This deception about what true wealth is all about is the reason 80% to 90% of the world population is not wealthy. Society has lied to us about what it means to be wealthy. As a result, everyone is trying to LOOK wealthy, instead of paying the price to be truly wealthy. The irony of life is this, those who are truly wealthy try to live like the poor, while the poor are killing themselves to live like the wealthy. Indeed, empty barrels make the loudest noise. Listen, friend, you need a reorientation, a paradigm shift from the lies society is presenting to you. This post is to help you know the truth about what true wealth is so that you can be free from the wrong perception and images the world has created of a wealthy person; which is making people take wrong steps and live fake lives. Now, if I asked you about your idea of who...
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