Financial Success: Knowledge Remains a Critical Factor

0
818
Financial Success: Knowledge Remains a Critical Factor
It is quite unfortunate in developing countries like Nigeria where religion is shaping the thinking of many people about money and wealth acquisition negatively.
Knowledge is vital in this regard, but way people infuse religion with wealth acquisition is ironical.

 

Much proportion of Nigerians have limited knowledge about money; they believe that with faith everything could be achieved. Faith without work cannot produce any result. If you do not sow, you cannot reap, it is as simple as that.

Believing God that money would come without making any serious effort to perfect that is entirely an act of ignorance.

Nobody sits idle and get food on the table. You have to make a move for your faith to work. Someone who is knowledgeable about wealth creation would know that making it happen is a sine qua non.

It is not enough to give to charity or other people that are needy; it does not guarantee anything if you are not ready to take actions towards achieving it, then forget it.

Biblically, when you give arms to the poor, you are entitled to receiving God’s blessings. If you sow sparingly, you also reap sparingly.

Sowing sparingly doesn’t mean giving arms to the poor without making any effort to top up your revenue. It makes sense when you work to make money and, you give to the poor.

However, money is about multiplicity, if you do not know you do not realize that it is all about multiplicity.

Even Christ was happy to see some servants multiple their talents and called them worthy servants. Nobody will listen to someone who only cares about spending the money on frivolities without making money.

That is a glaring attribute that distinguishes the rich from the poor. The poor don’t think of multiplicity of investment; they are always acquiring liabilities without knowing. Yes, without knowing.

For instance, the poor get a loan from the bank to build a house for himself. It sounds good on the ear, right?

After buying the house, you start living in your new apartment and begin to pay the loan for many years.

Somebody with a financial knowledge will understand that living in that house without giving it out for rent to generate income to cover his rent possibly is purely foolish. A home is an asset; you can also make it a liability.

In other words, the right thing to do is to give your new home for rent; it saves you the stress of paying the loan. The money you get from the rent will help in paying up the loan and possibly cover your rent.

That is a practical demonstration and application of the knowledge about money. Seek the wisdom about money and start applying the principles.

Someone who is knowledgeable knows that financial success will involve converting liabilities to asset or assets into more assets. If you do not have this information for use, then it is imperative you seek for it.