Fola Daniel Adelesi charges you to get your finances right and also shows you a few things you are doing that may not be helping your finances to align as you expect it to.
1. Get your finances right
Fola Daniel Adelesi
Speaker. Author. Consultant
www.foladaniel.com
2. Expand your mind
• What vision do you have?
• Why must you make money?
• What will your money go into?
• Can you make money without a vision?
3. What's your dominant financial
thought?
• The next phone, tablet or gadget to buy?
• Next gucci bag?
• Next T.M Lewin?
• Mary Kay make up?
• A vacation in Dubai, UK, US, Bahamas
• A beautiful wristwatch
• Next set of shoes
• Home theatre
• Or the next business to invest in?
4. Buy capital goods
• As we were thought in elementary business
studies, capital goods are the goods used in
the production of other goods. So you should:
• Buy goods that can serve business purposes
• Cut costs on anything that can't serve your
business interest directly (profit) or indirectly
(impression...)
5. Get financial mentoring
• Who is your financial mentor?
• Who do you listen to about money matters?
• Is your Intel just the regular street cred?
• Who's on the journey to wealth with you?
6. Use a financial consultant
• It is suicidal to want money and not consult
those who manage money.
• Talk to some real investors on saving and
investing
• Discuss long term plan on making money with
your consultants.
7. Buy with the future in mind
• Dont be penny wise and pound foolish
• Some buy cheaper things and end up buying
the same thing repatedly. Others buy
expensive stuff and enjoy on a longer period.
• Don't buy in bits when you can buy in bulk
and save more.
8. Add new skills
• If you don't get new skills then you are
depreciating and that will soon reflect in your
finances.
• Add skills relevant to people's problems
9. Creat products for cashflow
• You cant run out of cash if you create the right
products that people need.
• The cash may not be much but there will be
cashflow.
• Create products from your experience and
knowledge
10. Dont show off!
• Showing off is what is killing so many people
financially.
• When you get some money, think of your
future before thinking of the next person to
oppress.
• If you dont need to buy then dont buy!
11. Think of employing others.
• This is a great secret to wealth or financial
success.
• Those who think of helping others get what
they need end up meeting their own needs
• The thought of employing others makes you
think of growing what you are doing beyond
yourself or family
• Then what you start can become a
generational business.
12. Shine your eyes!
• There are problems around for some people
• There are opportunities in every problem
• Don't form a habit of always complaining
because opportunities don't come to
complainers.
13. Be a giver
• Giving, even though over flogged as a teaching
in churches and other religious bodies, is a
mystery to getting more.
• You may run into trouble and it is your giving,
maybe when you have forgotten, that will
save you.
• Sow deliberate seeds ~ Parents, leaders...
14. See ahead!
• I already said you have to see but you need to
see ahead.
• What's the direction of the world? Go there
first and wait for others to come and start
paying you.
• Act fast on what you see because you are not
the only one who can see.
15. Create a savings plan
• Saving will definitely help and keep you out of
trouble
• You can do direct saving (saving up in your
bank or savings box or
• Indirect saving (saving into a pension plan,
target account, mortgage like scheme)
16. Asset acquisition plan
• Wealthy people are never judged buy cash in
their possession. It's usually by their assets.
Why?
• It's because assets are the things sustaining
the wealth and bringing in the cash flow.
• So the more assets you acquire the wealthier
you can become