Monday, July 8, 2013

Top 5 Money Lessons You Wished You've Learned

Rate this: 

Money is not the root of evil. It is the love of money. Money can help you achieve happiness and joy by using it to bless others. I'd like to share with you how you can manage your money well so you can be a source of joy not just to yourself, but to your family, and to others as well.

Here are the top 5 lessons I have learned about money early on in life:

Lesson #1: Know the difference between an asset and a liability

In the old definition, an asset is something you acquire or purchase, like a car or a house and has money value. A liability is something that you can claim against an asset, like a credit card bill, debts, loans or payable. The new definition of an asset is something that puts money in your pocket, like a rental apartment or a business and funds your luxuries or liabilities. A liability is something that takes money out of your pocket, like jewelry, car or your house, and something that your purchase or acquired.

Lesson #2: Mind your own business. 

Buy and grow your assets. Some of these assets to develop or grow are: businesses that do not require your full time or presence, company shares or stocks, bonds, T-bills or SDAs (Special Deposit Accounts), income-generating real estates such as a rental apartment or dormitories, royalties from intellectual property from music, scripts or patents, and anything that has value, produces income and has a ready market. 

Lesson #3: Pay yourself first.

Set aside at least 10% from your income to build your business or fund your emergency money or investments. Then make saving or tithing as your next priority. This is the Power of Discipline. I know this is painful. But as the saying goes, "No Pain, No Gain."

Lesson #4: Make choices everyday. 

How you spend your money is a reflection on how you use your most valuable resources: time, learning, and money.  Use your valuable resources wisely. If you want to predict a person's future, just look at his expenses. Do you spend it in the latest gadgets, the latest fashion, or the latest accessories?  This only build your expenses, debts, and liabilities.

Or do you use it to invest and build on your assets, like seminars on investing and personal finance, personal coach/mentor, books, gyms to keep you healthy and fit and donations to charities and churches?  This is the Power of Choice.

Lesson #5: Use your assets to pay for your luxuries, your liabilities.  

Acquire assets, or things that put money in your pocket, by paying yourself first. Then, you can purchase your liabilities or your luxuries by the income and cash flow generated by your assets. This is the power of focus. So many people today have money to buy their luxuries first but never seem to have any cash to purchase their assets. 
So are you ready to learn these lessons so you can start blessing others and multiply your joy?

Keep Walking!


  1. Great post however , I was wondering if you could write a litte more on this subject?
    I'd be very grateful if you could elaborate a little bit more. Bless you!

    Visit my site; index

    1. Hi Anonymous! Thank you for following and reading my blog. What topics would you like me to touch on? I'm interested to know..
      I will be writing more on the subject of money matters. Watch out for it:-)

      Thanks and God bless you. Visiting your site soon:-)

  2. Hi there it's me, I am also visiting this web page on a regular basis, this site is actually nice and the visitors are genuinely sharing pleasant thoughts.

    Here is my blog post :: watch dogs ps3

    1. Thank you Anonymous for following my blog and for being a regular visitor. I will visit your site soon.

      Keep on writing!

  3. My brother suggested I might like this blog.

    He was totally right. This post actually made my day. You can not
    imagine simply how much time I had spent for this information!

    Also visit my site Stocks Of The Day

    1. Thank you Anonymous for reading my blog and I'm glad your brother suggested this to you.

      I will be writing more on this subject. Watch out for it:-)

      God bless!

  4. I used to be suggested this web site by my cousin. I am now not positive whether
    or not this post is written by him as nobody else
    recognise such precise about my problem. You are amazing!

    Here is my weblog ... franking machine - -

    1. Hi Franking Machine!

      Thank you for visiting this blog. I am delighted that you get help from this post. Let me know how else I can help.

      Visiting your site soon...

      Keep Walking!
      Pinay Explorer

  5. I'm not sure exactly why but this site is loading very slow
    for me. Is anyone else having this problem or is it a
    problem on my end? I'll check back later on and see if the problem still exists.

    Also visit my web-site: boilers

    1. Hi Anonymous:-)

      You might have caught it in such a high traffic time. Please kindly visit this site again soon. It's up and running...

      Will visit your website soon:-)

      Keep Walking!
      Pinay Explorer

  6. How do we perform these kid adventure bathrooms? This game show is gained through the use of beat and music to show off your
    singing talent. Never fear, a number of the best games are listed and explained below.

    Feel free to visit my site - baby hazel games []

  7. It gives you excellent value for your mobile phone.
    It becomes a popular solitaire game. Be it action, card, arcade, and rich feature,
    then you can download directly from the moment, but this version is introduced,
    where pigs and getting big fish casino cheats a hang of it.

    Various online contests are also pre-programming their phones
    and mobile platforms. For example, even each day, businesses are considering mobile games to
    your mobile.

    Feel free to visit my homepage big fish casino hack for android