Are You Spending To Learn, Earn Or Lean?

John and Joe is friend working in the same company as a line manager. You don't need to be closer to them to detect that the duo have different view about life. A challenge to the adage that says "show me your friend and I will tell you the kind of person you are".




Although, they both have something in common, they barely have any money available before the next payday.

Joe was well known for looking good all the time with luxury wardrobe, phones, and jewelries. He loves spending his weekend partying and relaxing in expensive places in town and hate missing vacation during his leave.

As for John, while he is not completely leaving frugal, the usual description of him in the office and among friends is to call him a stingy fellow with additional line, "we don't even know what you are using your money for".

One faithful morning, the company staffs were greeted by fully armed security men and the company bank manager with the news of company seizure due to millions of naira debt.

This event lead to change in their course of life and revealed the secret that answer the question about what John is doing with his paycheck as their 1 day hope of returning to work is become weeks, months and forever.

ALSO READ:
While Joe is busy catching fun during the weekend, John is learning to manage his earnings, how put the money to use to earn more moneys and how to start and run small business.

In less than three months after the incident, John has put together a good business after attending additional premium course on Entrepreneurship and Business management.

During the recruitment process for the company manager, one of the CV on John table is that of Joe. He gave him the chance to attend the interview. Joe was so happy to see his friend thinking they both came for the interview but were shock to see his friend leading the panel during the interview.

John told his friend that as much as he is willing to help, he could not employ him because of his flamboyant lifestyles.




Later that weekend, Joe called to visit his friend, of course mainly to inquiry how John manage to get a job in that company as Managing Director and maybe to plead for a chance to get the job.

Instead of John to go straight to answer Joe questions, he shares his secret with him.

He said, while they were both working in their previous place of work and barely have leftover before the next payday, he do spend 80% of his paycheck on buying landed properties and few stocks while learning how to setup and run a successful business.

"While I have the vision of starting business one day, I never imagine it could come that fast".

So to get started, he sold one out of his 8 landed properties and uses the proceeds to start the business, an unbelievable fact that hit Joe so hard.




Managing Your Seed of Wealth
One of my concepts of wealth creation is the principle of “Seed of Wealth”. At one time or another, everyone will come in contact with his seeds of wealth, unknowingly; you squander it for lack of financial education. In the above story, you are either a John or Joe.

Seeds of wealth are not necessarily and hardly a lump sum that you receive at one time or another but most of the time, your income either big or small that create a comfort zone for us.

You may decide to spend all your monthly income but if you have to do that, ensure you spend it on buying assets that will be generating income for you rather than liabilities.

ALSO READ:
If you ask me what I think should be the first asset you can start putting your money into, I will advice you invest much more on your Financial Education because it is true that “Ignorance is a disease”.

If Joe is financially smart, he would recognize the opportunity at hand and take the best decision of planting his seeds of wealth instead of throwing it away.

Are you spending to be like John or Joe?

Post a Comment

0 Comments