Connect with us
AD: School that released Post UTME Admission Form 2019/2020
AD: Lists of School to Get Post UTME Past Questions and Answers
AD:Best Information News

Entrepreneurship

Top 5 Secrets to Become Financially Independent

Published

on

The knowledge of financial matters helps one to set a financial goal. Financial goals are list of things intended to be achieved with your finance. These goals includes what to buy, how to buy them and when to buy them. However, this helps one to plan ahead of time.

Financial Education in one way or the order helps to impart into the lives of individuals the act of saving. Savings refers to the disposable incomes that are not spent on consumer goods and services. Financial savings determines the future financial status of every individual and in other words makes people become financially alive.

Also Read: 11 Ways To Build A Profitable Business In Nigeria

However, the knowledge of Financial Education has helped individuals to flow in the realm of investment in company shares. Investment means involving or putting money in a business to earn another money which is sometimes higher than the one invested. One who invests his or her money in company shares is entitled to receive a dividend which can be be received by cash or reinvested to buy more shares in the company.

Financial Education has helped in the management of risk or insurance. However, you cannot completely eliminate risk – physical, emotional, spiritual or financial – but, in many situation it is possible to manage it, and in some areas protect yourself from a variety of risks. In the context of financial Education, risk management includes understanding the wide variety of insurance protections that are available to meet your personal needs. In other words, insuring your business helps you to reduce the amount of money you spend and thereby keeping you free from unwanted financial regret.

Finally, the future of any country depends on their citizens. A country filled with financial illiterates deteriorates the economic growth of such a country. In other hand, a country filled with financial literates expedite the growth of such a country. Financially educated citizens can help to ensure that the financial sector makes an effective contribution to real economic growth.

Also, Financial Savvy can be defined as the practical knowledge and ability to comprehend, manage and invest money. Below are the ways one can become financially savvy.

#1: INVEST

Almost everybody on earth wants to get money at all cost. Its simple. To maintain a good financial standard and savvy, you must be able to invest. Investment is not the spending of excess money rather it means using your disposable income to attract more money to increase your personal income. Economists defined it as the expenditure on physical assets which are not for immediate consumption but for the production of consumer goods and services. This is what differentiates you from a poor man. ‘‘An investor or a rich man will invest all he has and spend what is left, while a poor man spends all he has and invest what is left “. Life is all about investment. Financially Savvy people invest their money, time or opportunity in order to maintain their standard.

#2: EARN

Of course this cannot be exempted. Earning money after investment is a priority. And the fact is, earning passive income is best when there are many sources. Financially Savvy people don’t depend on one source of income. This is because anything can happen to your one and only job- it may collapse or you may be sacked. Am not trying to discourage you from your job, but, that’s life for you. When you have many sources, it increase your chance of amassing wealth and becoming financially independent.

#3: SAVE

An important key to Financial Savvy is the ability to save. Saving is not just protecting your money in any financial institution rather it is reducing the rate of your consumption expenditure or reserving part or all of your income for future purposes ( which may be for transactive, precautionary or speculative motives ).

#4: SPEND LITTLE

I always hear people saying that ‘‘ to earn money is difficult but to spend is the easiest thing in life’’, and that’s the truth. The worst thing that can happen to your financial life is being extravagant. Financially Savvy people spend little, invest and then save. Don’t spend much money when you know that you cannot even get double of what you’ve spent. The difference between rich men and poor men is that the rich plan how to spend while the poor just spend on anything that comes their way.

#5: BORROW LESS

This principle is very important for you to become Financially Savvy. Mistakes people usually make is that when they don’t have enough money to startup a business or their account have gone red, they will go and borrow huge sum of money which they cannot even refund. Before you borrow money, think about what you are going to do with the money, its consequences when you don’t pay at the appropriate time, and how to refund when you’ve gotten enough money. In order words its always advisable to borrow less whenever you are bankrupt.

However although this article is lengthy, at least l have been able to diversify your knowledge about Financial Education and how to become Financially Savvy. I have taken enough time to write this because of our society. The society is dilapidating. Parents and guardians no longer care about their finances. I believe you have been inculcated the knowledge of financial education. Now try to live it out. Becoming financially savvy is practical where money is the specimen.

Continue Reading
Advertisement
1 Comment

1 Comment

  1. Studydriller

    January 29, 2019 at 10:28 pm

    Great Ideas to take in reckon.

Leave a Reply

Your email address will not be published. Required fields are marked *

Career Tips

7 Mindsets of Successful People Which You Must Cultivate

Published

on

The population of the world is almost 10 billion. Can you imagine! More than 5 billion people aspire to succeed but only a few achieve success because of the mindset or mentality they have towards success. Do you want to be successful? You want to be the best doctor, engineer, politician…? It’s time you change your mindset about success. A popular quote by Colin Powell says

“No one ever drowns in his sweat. A dream doesn’t become reality through magic; it takes sweat determination and hard work”.

What are you doing now? Is it channeled to the success you’re dreaming of? Success is not a magic, it’s a hard work. However, in this post, I talked about success mindsets successful people have and definitely what you must have to achieve a successful life.

Also Read: How to Generate Leads for Your Business the Right Way

1. IT DEPENDS ON YOU

Success is not automatic. Success cannot be inherited even if you belong to the richest man on earth. Even God himself cannot make you succeed if you don’t want to succeed. George Lois said

“All growth depends on activity. There is no development physically or intellectually without effort and effort means work”.

The worst thing that can happen to you is to live an idle life waiting for success to emerge. Myles Munroe said

“The worst thing that can to any man is to die with his potential untapped”.

Trapped inside of you is tremendous hidden values waiting to be unleashed. Never take it back to the cemetery. You have potentials and you’re the only one that can release it. When you die with your potentials, you die with your forest and you fail your generation. However, it’s high time you left your comfort zone and rule the world with what you have. Think about how Bill Gates started. He didn’t finish university but today he’s one of the richest. You too can succeed if only you can discover yourself.

2. PEOPLE NEED YOU TO SURVIVE (YOU ARE CREATED TO SOLVE PROBLEMS)

Every individual born on earth has a mission and a problem to solve. People need you to survive and when you don’t succeed, they fail or probably, die. If you become a failure, you have failed your generation. Your purpose on earth is to make an impact. Don’t seize the opportunity to help others.

Had it been that Mark Zuckerberg gave up his pursuit to establish Facebook, so many businesses wouldn’t have existed online. Today, Facebook has more than 1.6 Billion users across the globe. Some bloggers and businessmen depend on Facebook to survive because it’s their major source of income.
Today, More than 1 Billion people cannot get information without Google. Had it been Larry Page and Sergy Brin gave up on Google; there wouldn’t have been the world largest search engine.

Sometimes we never know what we have until we lose it and become poor. Success is all about reaching out to the lives of people with what you have.
Problems arise every day. People create problems every day. But this is a question you must ask yourself

Are my here to create or solve problems?

It is either you create a problem and ruin people’s lives or you solve problems others have created.

3. YOU MUST BE READY TO SPEND

Don’t think that the journey to success is a “free trade area”. Success is not free. You must be willing and ready to spend both your money and your time. You must spend your money to buy books and other materials that can help you to succeed. Time also is very important. The must spend your time on things that are urgent, important and can add value to your life.

The life of Thomas Edison is a good replica. He was able to invest electric bulb because he spent most of his time reading, researching on how to produce an electric bulb.

What of the popular Pat Flynn of SmartPassiveIncome.com who spent time and money building his blog. He’s now one of the richest bloggers in the world
When you spend time and money on your passion, Success will never elude you.

4. KNOW THAT ITS GOING TO BE TOUGH (DON’T BE AFRAID TO FAIL)

Every success-minded person must be sentenced to hard labour. There must be obstacles. The journey to success contains ups and downs that may hinder your acceleration in life. Robert Schuler said

“Tough times never last but tough people do”.

We must be well assured that we must pass through tough times. However don’t be afraid to fail. Failure is never a destination; it’s just an outcome or result. Only cowards make failure a destination. Cowards die many times but the bold go through obstacles determined to succeed.

That you failed in your first attempt doesn’t mean you should give up.
Abraham Lincoln never gave up the pursuit of becoming the US president. He contested many times and failed. He knew that it was just a matter of time

The moment you stop trying is the moment you endow yourself a failure. Make up your mind to survive the quagmires of life. Difficult situations will never last. However, success is a gradual process. Don’t expect a success of a thousand years to come in a day or the time you wanted it.

John C. Maxwell said

“Problems will stop you temporarily, but only you can stop yourself permanently”.

When you meet hurdles and you think that there is no way out, then you have stopped yourself. Failure must come on our way but we shouldn’t allow it to dominate.

That you were not able to pass through a tough time simply means:

You have not worked hard enough; or
You have not spent time on it; or
You Isolated yourself; or
You have not read books; or
You have not met the right friends (connections).

Think about it. If you want to overcome a tough time, you must be ready to fight it.
Remember, mistakes are inevitable. Albert Einstein said

“A person who never makes a mistake is a person who has never tried something new”.

When you fail or make mistakes, it’s just the beginning of your success.

5. YOUR FRIENDS MAY LEAVE BUT KEEP MOVING

Friendship may not be permanent. Sometimes your friends leave you when they feel your dreams are difficult to achieve.

“Big dreams are always tough to achieve”.

Don’t be surprised, the friends you started with may not end up with you.

“Ten friends may not stay together for ten years”.

Even when you graduate from school, you may not see your classmates/course mates again. But don’t stop moving when your friends leave.

Not all the friends that started with Mark Zuckerberg ended up with him. Some left during his tough times, but it never discouraged him. Those who stayed with him are now millionaires.

The same thing happened to Thomas Edison when his fellow scientists quitted after they failed in the first 6000 times to produce an Electric Bulb. They left him, pitied him and tried to discourage him, but he said: “NO, I now know 6000 ways in which you cannot do it”.

Don’t stop moving, there is a brighter day ahead of you.

6. PEOPLE WILL CHALLENGE YOU (YOU MUST FACE COMPETITION)

Don’t rule out competition. Life is like a race where you have to compete with other people (and win) before you will be endowed the champion. People will challenge your ability to prove whether you are strong enough to succeed.
Through competition, you discover your strengths and weaknesses. Through competition, you dig out more treasures that are trapped inside of you. It instills in us the winning attitude – the power of victory and excellence.
However, take the challenge, bear the challenge, win the challenge and dominate your industry. Remember, champions are finishers.

7. PEOPLE WILL HATE YOU

You can’t just stop it. It’s natural that people hate when others succeed. When you become a newsmaker, there will always be noisemakers that will criticize your impact. This is a reason why you don’t need to share your dreams with everybody.

Dream killers will give you every reason why you will fail.
Dream thieves will make your dreams look inferior to you.

In other words, beware! “Dogs” are around you. They don’t like your success.
Now consider this

No position without opposition
You need necessary opposition to take up your necessary position
Only those that have future position will face present opposition.

When you have a powerful vision, you will encounter opposition. The higher you go in life, the more obstacles that come your way.

+ Bonus Tip: SUCCESS IS STUDIOUSNESS

The key to every great life is the ability to learn new things. Successful people are bookworms. They study and learn every day. The more you read, the more you add value to your life and the more you solve problems.

CONCLUSION

Make a research on how successful men achieved their success, the obstacles they faced, and the areas they failed and how they thrived. Compare them with your life and know whether you’re on the right track.
I believe this article has helped you grab the right mindset of success and channel your life towards success. Cheers!

NOW YOUR TURN

I believe you were inspired and motivated. Have you been able to get rid of the wrong mentality? Have you left your comfort zone? Tell us how you conquered a particular problem that tried to discourage you. Drop your comments below and inspire others to succeed.

Continue Reading

Career Tips

4 Excuses Poor People Give Which You Must Avoid

Published

on

Excuses have power but many people think it’s a part of life. Excuses have denied people of so many things they should have achieved. Sometimes if we fail to achieve something, we begin to blame people, or there is no money.

Excuses have made people live a mediocre life, have a negative mentality and make us believe that our big dreams are impossible to achieve.

It was very hard to believe that almost 30% of the population of Nigeria were poor and 60% average. This can be narrowed down to the excuses that have stopped them from moving forward. If you are reading this article and you discovered you are among the victims of excuses, then be well assured that you will end up blaming others for your failure in life.

Also Read: 9 Most Profitable Skills for Young Entrepreneurs

However, I scrutinized the lives of poor people and discovered many excuses that have made them remain poor or live an average life. However, in this article, I will marshal out 4 excuses poor people give.

1. I CAME FROM A POOR BACKGROUND

“I came from a poor background”. That’s one of the stupid excuses I hate to hear. Many poor people blame their parents for being poor. Some that are spiritually unintelligent will blame witchcrafts that operate in their father’s house. But the truth is no human being is behind your poverty.

You may be born into a poor family but that shouldn’t make you become poor. Many rich men like Dangote, Bill Gates and others didn’t allow their poor background to stop them from moving forward. If these rich men can make it, you too can make it if only you will forget about your poor background and strive to achieve your dreams.

2. I COULDN’T COMPLETE MY EDUCATION

Unable to complete your education can never stop you from becoming successful but the only thing that will hinder you is when you stop learning. People like Dangote and Bill Gates didn’t finish their education but they never stopped learning. Dropping out of school shouldn’t be the end of your world. Those who dropped out and became successful are really people who learned something in school.

The only way you can achieve all your dreams is to keep learning every day. That’s one of the keys to a successful life.

Related: 11 Ways To Build A Profitable Business In Nigeria

3. I HAD NO MONEY TO START A BUSINESS

Some poor people will tell you they couldn’t start up a business because there was no money.

But who said money is a prerequisite for starting up a business?

Actually, money is not the most important factor for starting a business in this 21st century. Many businesses today can be started from the comfort of your home without spending a dime. Money is just the secondary need, but the primary and most important is your passion, commitment and your ability to embrace new business ideas.

4. I COULDN’T GET A CONNECTION

“But, must you be connected to the richest man on earth for you to be successful?” Absolutely not.

There are so many successful and self-made billionaires and billionaire who rose from rags to riches. They struggled to make their own money without being connected to rich people.

If you are out there still waiting to meet rich people to start making money, then you are wasting your time. Start now to think of what you can do to make money. There are many businesses you can start today, choose the best you can do.

Bottom Line
Poor people are people who simply don’t take actions when they conceive a dream. They are people who have allowed procrastination and laziness to ruin their lives. And when they fail to achieve something, they start giving excuses.

The only way to escape this tragedy is to do what successful people do. Write your dreams, create a plan of action, and kick off your plan. Be committed and connect with people with like minds that will help you achieve your dreams.

Continue Reading

Business Ideas

How To Start Cinema Business In Nigeria

Published

on

How To Start Cinema Business In Nigeria

How to Invest in Cinema Business

This article will provide the needed and necessary information on how to start up a cinema business in Nigeria. It is necessary because cinema provides a means of comfort to all people of different class.

Definition Of A Cinema

A cinema is simply defined as a place of relaxation. It is a place where movies or films. This movies displayed are for entertainment purposes and you are charged for each movie seen. Cinemas have improved the businesses of people as you cannot see a movie without having at least popcorn or an Ice Cream in your hands.

This article will therefore talk on you can start up a cinema business and be successful with it.

  1. You Must Conduct Personal Research

You should know that you are starting a business you know nothing about so you should not think of making money immediately. You need to meet people that have been in the business for long and are successful. You also need to meet with experts in event planning, studio recording and decorators as there they are the ones to tell you where the right place to set up your business, the cost and the design. These people can help you set up your cinema outfit.

  1. Make A Tour Around

This is simply visiting other established cinemas.  From the visit you will make, you will be able to know how a cinema operates, the risks involved and how to avoid them.

  1. Get Products Authorization Or Franchise

After setting up your cinema business, it should be noted that it is not compulsory to sell the products of other people. You will benefit a lot from it on the long run.

  1. You Must Be Competent and Qualified

In order to run a successful cinema business it is important to be trained. This training can be done in business schools as you will learn how to manage tickets sold out for movies and cinematography.

  1. Reach out To Movie Dealers And Distributors

It is of high importance to get in contact with the people that deal on movies; most importantly the most sought after and highly anticipated ones. This will make your cinema spot attractive as you have what the people are looking for Admission form.

  1. Space And Arena

Nigeria is a place that when establishing a business you must have a large expanse of land or a big space. In the cinema business, you need to have space big enough to house your equipment’s and tools.

Related Post: How To Start Cement Distribution Business In Nigeria

  1. Get Good Cinema Facilities And Equipment

The look and decoration of your cinema will determine if customers will come. Therefore it is important to have the latest gadgets and equipment to keep your business growing.

  1. Always Set In An Income Alternative

This simply means that you are not to fully depend on the income made from cinema as it can fail you at any time. Therefore it is important to have a second choice of income. This can be in form of having a little restaurant, selling popcorns etc.

  1. Get A Good Advertisement Avenue

It is important and necessary to let people know about what you are doing. You can get to make people know about your cinema business by advertising. Advertisement can be done through newspaper, fliers, television, radio and the internet.

Hindrances To A Good Cinema Business

  1. Insufficient Funds

A good cinema business needs adequate funds to operate without problems.

  1. Negative Attitude And Mentality

Having a negative mindset is not the best thing as you begin to doubt yourself. As it is said “what you confess is what you possess” therefore be positive and always believe in yourself.

  1. Economic Problem

As it was earlier discussed, your location determines the growth of your business. If it is situated in a region where diseases are rampant or have continuous security challenges you are bound to lose customers.

  1. Moral Behaviors

As a seasoned business person you are, it is important to guard against extra moral behaviors like drinking, smoking, sex acts etc. Your establishment can be brought down by government authorities it they get to discover things like this are happening in your business.

Related Post: Top 12 Careers for the Future

  1. Lack of Commitment

Generally speaking now, it is very important to put God first in everything we do. Your business is bound to fail if God is not involved.

SUMMARY

The article above has been able to show you the step on how to successfully establish a cinema business this is a summary of everything discussed.

See also: 20 Business Ideas for Teenagers (Risk Free, Cheap to Start, and Profitable)

  1. You must conduct personal research.
  2. Make a tour around.
  3. Get products authorization or franchise.
  4. You must be competent and qualified
  5. Reach out to movie dealers and distributors.
  6. Space and arena.
  7. Get good cinema facilities and equipment.
  8. Always set in an income alternative.
  9. Get a good advertisement avenue.
Continue Reading

Trending