Many will not make it in life not because they aren't hard-working or they are being lazy but because they are yet to build up their capacity. And some will keep making it in life not because they are working harder than every other person but because they can build their capacity.
I know my words at the beginning was too direct, I am sorry for that. How are you all doing today, I hope you had fun with my yesterday article? I am glad many could vibe to it because I only intended to make people laugh which they did.
Back to the business of the day, I have seen different write-ups about "how I will spend my $590k if I was given", and I must say they are nice and great but the fact remains many didn't have that plan before, they only came up with the plan when they were about to write the article. There's a popular saying that "he who fails to plan, plan to fail", we need to plan ahead and that's the way our life can progress.
It is so painful that many can't handle huge money when they are given, and if this happens how on earth do such people make it? For example when some people in their marketplace, they make a profit of $100 ( fifty thousand in Nigeria money) a day which they haven't made before, they tend to shake and start shivering on the amount, cos to them the amount is too huge and they won't be able to manage it in spending, if this can happen, how then can they manage money that is greater than that in amount?
A short story
A woman asked her husband for money to start a business and the man gave her but in the end, the woman was not able to make a profit and the business went into bankruptcy. The husband saw this and didn't say anything but instead, he ignore it. The woman went to the husband the second time to give her money to start another business, the husband gave her and she went to start a business again. After some months, she went into bankruptcy again and she couldn't make any profit at all nor was she able to gather her capital again. What was the reason for all these occurrences?
When her friends are doing a party and she is invited and they select a certain cloth to wear, she will go ahead and join them in buying clothes and gifts from the money she is using for business when she knows she hasn't made any profit at all. When is time for a burial party, you will see her there, when its time for a birthday party, you will see her there and when it is time for showcasing who is in vogue in the community you will see her there, all the spending she uses in doing this comes from the money she collected for a business without her reminding herself that she hasn't made any profit from the business?
What can we see and learn from this short story? She was given a huge amount of money and she couldn't turn it into something greater. She didn't build her capacity to handle such an amount, which many of us are guilty of. We don't know how to make plans, budget, we just spend lavishly and conclude that the money will keep coming from wherever it's coming from. If we are given money to invest, we shouldn't take the money to buy clothes or venture into another thing apart from the investment becusse investment money is different from money that we want to spend.
It is bad for some people that ordinary $10 (5000naira), some people can't spend it wisely. They just spend it anyhow and at the end no something tangible to show for it.
How do we now build our capacity?
Have a budget; any money given to you, make sure you plan how to spend it very well that will make a profit and not the one that you will regret later. Have a list of what you will use the money for, the list will serve as a guide for you and it will keep reminding you of what you have a plan for whenever you are about to change the plan or budget.
Set aside money for emergencies; we should be able to predict what can happen in the future, no one is praying for bad things to happen but we can't deny the fact that it can certainly happen. The money we keep to spend later is different from what we keep to spend on emergencies. A family can call for our help or something like an accident can happen that we will need to support them, it is the money we keep for such event is what we spend and not the one we intend to spend on our home.
Avoid overextended credit; after many have started a business and they have started earning but because they want to earn more, they tend to collect more goods on credit to fill their shop or business and by that, they collect too many goods on credit and at the end they are not able to pay for the goods. We shouldn't collect too many goods on credit, we should just maintain the money we have till we have enough to add more to our business.
Know how to differentiate needs from want; I once wrote an article on this, press this link to read more on it. I explained there that what we need is what we should go for and what we want is what we shouldn't go for when there isn't much money with us. Many people do buy what they want and in the end, they don't get to use those things but when we buy what we need, we will make good use of it immediately.
With all these listed above, we should be able to build our capacity for blessings that might come our way. We need to change our lives today and build up ourselves today. Thanks for reading, I appreciate you all.
Till I write again, bye for now 🥰🥰🥰.
8th October 2021.
This was somehow true, we should spend the money on where it is supposed to be. Specially nowadays where money is hard to earn we should also spend it wisely or else you’ll end up suffering. :)