EMMANUEL ALEX ASIEDU
MD-STANLIB GHANA LTD
- Simplicity
You should learn to separate your needs from your wants. We are a society that is very fixated with getting things that are symbolic but are not functional. The point is that most of us do not have money because we are living beyond our means. Many people are poor because they do not know how to separate their needs from their wants. Separate your needs from your wants. If you do that, you would make great wealth for yourself.
- Plan
You cannot tell yourself you want to build cash flows and end it there. How many people have sat down at the beginning of the year and said, “This is how much I am getting in a month, and this is how much I spend?” You cannot create personal cash flow if you do not watch how you spend. You need to know how much you are earning and how much you are spending. This will let you know if your budget is balancing. You need to understand what your objectives are to motivate you to budget and plan effectively.
- Don’t Be Greedy
Finance and making money is not rocket science, creating personal cash flow is that if you start now and you are consistent with your plan, even if it is earning a small percentage, do not worry about it, just leave it and let it grow. You will surprise yourself because it might be the money that you would need in a desperate time. Start putting aside money every month and watch it grow; you will surprise yourself. In summary, you should understand what you are getting into, you should plan and you should start now.
- Start Early
All of us have financial needs. Some people have managed to deal with their needs and others too have not done well with it but the bottom line is that we all need cash. There is a process for wealth creation. If you do not understand something, do not get into it. One of our clients has a lot of money with us. When people see him, they think he is very wealthy but what many people fail to realize is that this client started a long time ago.
- Start Now
We are used to going to the latest seminars and business forums, listening to all the financial advice only to go back to do the same old things we used to do. I want to challenge you to take a step in the right direction. If you start putting aside a little money today, you will be surprised by how much the money will grow in the space of 5 to 10.