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Kenel's money map
- 1. 2015 KENEL MONEY MAP How To Make, Manage & Multiply Money
- 2. TO BEGIN, LET'S ENJOY THIS SHORT STORY... THE TALE OF 2 SONS
- 3. Drinks Smokes year 1995 Mass Communication Exam Malpractice Foolish Womanises Clubs/Parties Cultist Wealthy & Influential The Money Bag N100,000 Monthly Allowance Extravagant Keeps up with the joneses Mr. Jerry Borrows Money Receives Money from Father Has a Budget Has a Savings Goal Wrong money Mentality Pays debt Spend the rest on bills Borrows more moneyMain Idea Father of James John Wise Delays Gratification Acquires Assets; Avoids Liabilities Receives Allowance 1st- God -10% Each year, Mr Jerry increases his children's Allowances by 20% Prioritizes Prudent N100,000 Monthly Allowance The Problem Solver Banking & Finance Needs before Want Lends Money to John- 10% Int. Others- 15% Int. Savings/Investment- 15% Right Money Mentality Keke Business Multi-level Mkt. Real Estate 2nd- Self- 20% 3rd- Others- 10% Last- Spend-60% Personal Development- 5% Fast Food Research Buy/Sell Info Tutorial Assignment
- 4. year 1999 Severe STD Father of 2 kids from 2 different ladies James 4 years later John N2,050,300 N3,000,500 N103,600 ic at tm nuto yme . A lo sst mpA E an rer as ctu Le Physical Cash Other Investments First Class N1,509,000
- 5. Now, I am Unemployed In debt Sick Struggling Married to 2 women If i had listened to John and practiced what he taught me... 2 years Later Billionnaire Fin. Expert James- 10% Life is Good... I have paid the price... John- 10% Mr. Jerry died. Leaving a WILL James' Children- 30% John's Children- 30% Charity- 20% Held in Trust by fund Managers until they are 18 Their Mothers- Monthly Upkeep for their children
- 6. Identify 5 Similarities & 10 Differences between James and John Who would you like to be like? With the way you are handling your finance, who do you think you will end up like ? How did james end up? Why did he end up that way? What kind of mentality did James have? Who was Mr Jerry? Do you think Mr. Jerry Administered shared his estate properly? if you were Mr Jerry, how would you had administered yours? Their 3rd year income had been John's thithe had been If Mr. Jerry had increased their (James & John)'s monthly allowance by 30% each year instead of 20%, what would
- 8. Card What is Money not? Righteous Selfless Currency Coin Settlement of Debt Value/ Power of ANY Tangible /Intangible Asset that is acceptable by 2 or more parties which can be used for: Exchange for Goods Services Personal Family What is Money? Who Needs Money? Sower/Giver He who Values it Greedy Eater Who Wants Money? Oppressor Financial Freedom Kingdom Influence Why should I make money? Enjoyment Solving Problems Now Today Solving Problems Local National Global Head Wisdom Talents/Gifts Ideas Living a Debt-Free Life When do I Need Money? Short Term Medium Term Long Term Prayer The WORD Within 1 Yr Heart 1-5yrs Above 5 yrs The WORD Passion Seed Skills Hand Unrighteous Beggar Where will i find Money? Which tool do i need to make money? The Anointing Knowlegde Wisdom Opportunity Choice Talent / Potential Discover your Money Personality Work Products/Services Assets Spender Saver Security Concious People Make Money Wrong Spend it on bills Make Money Spend it on Bills Average Develop Your Money Mentality High Flyer House Opportunity Environment Problem Risk Taker Pay yourself Pay God Last How will i make Money? Desire it Discipline yourself Decide to Make it Determine to Make it Make Money Pay God First Right Pay Yourself Next Spend the Rest
- 9. Need (Prioritise) Luxuries Discover the Guidelines for Wise Spending Is it in your budget? Do you really need it? Is the Price Right? Is the Timing Right? Differentiate Want Status Spending Demand Desire + Ability to pay Gather every Financial Statement/proof Record all Sources of Income Create an Expense list Monitor your Income for a while Develop a Budget Fixed Does it have any Substitute? Any Major Disadvantage? Have you researched it? Does it require expensive keep-up? Have you compared prices? Does it compliment with your values/Beliefs? Will it help you achieve your Purrpose? Can you afford it presently? Can it wait? Categorize your expenses Temporary Periodic MAKE MONEY Sum up your Monthly Income/Expenses Information Wisdom Friends Favour Acquire Assets Need before Want Delay Gratification Pay Now; Play Later Discipline yourself Endure Now; Enjoy Later Stick to your budget Sacrifice Today for Tomorrow Deal with Waste Experience Skills Humility Energy Integrity Foes Luxries Avoid Liabilities Pride Negative Fun Status Spending
- 10. Firstfruit Tithe Seed Faith SPIRITUAL Partnership Vow Love Parents Offering Prophet Sacrifcial Welfare Main Idea INVESTMENT MENTAL Salary Inheritance/ Wealth Transfer Business Real Estate Internet Business Short & Long Courses Information Business Network/ Multi-level Marketing Stocks Govt. Bond Money Market Mutual Funds Electronic Call Deposit Audio Educational Games Capital Market Books Video PHYSICAL Trainings Conference Workshop Seminar Savings Fixed Deposit Treasury Bills
- 13. A Budget can help you: 1. Put aside money for savings goals. 2. Prepare for regular expenses. 3. Prepare for unexpected expenses 4. Control how you spend money. 5. Reduce stress and increase confidence 6. Provide an excuse to calm excessive spending Budget is a tool used for tracking and monitoring income and expenses to avoid negative cash flow. Why Budget? 1. To determine how much money you have to spend 2. To decide how you want to spend your money 3. To determine how to spend money in the future 4. To learn to live on less than available income 5. To stay out of financial trouble Dangers of not using a budget 1. No idea where money went 2. Bad spending habits are unidentified 3. Unprepared for emergencies 4. Strained relationships 5. Lack of savings plan 6. Wasted money 7. Stress