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Are you a slave on the loose??? Read below to determine

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Ntemi Kazwile, May 21, 2010.

  1. Ntemi Kazwile

    Ntemi Kazwile JF-Expert Member

    #1
    May 21, 2010
    Joined: May 14, 2010
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    FROM THE LAW OF SUCCESS BY NAPOLEON HILL: THE SAVING HABIT
    “It may seem like a sad, cruel fact, but it is a FACT none the less, that if you have no money, and have not developed the habit of saving, you are “out of lack” as far as availing yourself of the opportunity to make money is concerned.
    It can do no harm to repeat – in fact it should be repeated over and over again – that the real start of nearly all fortunes, whether great or small, is the formation of the habit of saving money!
    Get this principle firmly founded in your mind and you will be well on the road toward financial independence!
    It is a sad sight to see a man, well along in years, who have sentenced himself to the wearisome treadmill of hard labour all the days of his life because he has neglected forming the habit of saving money, yet there are millions of such men living, in the United States alone, today.
    The greatest thing in life is FREEDOM!
    There can be no real freedom without a reasonable degree of financial independence. It is a terrible thing to be compelled to be at a certain place, at a certain task (perhaps a task which one does not like) for a certain number of hours every working day of the week, for a whole lifetime. In some ways this is the same as being in prison, since one’s choice of action is always limited. It is really no better than being in prison with a privilege of a “trusty” and in some ways it is even worse because the man who is imprisoned has escaped the responsibility of providing a place to sleep, something to eat and clothes to wear. The only hope of escape from this life-long toil which curtails freedom is to form the habit of saving money, and then live up to that habit, no matter how much sacrifice it may require. There is no other way out for millions of people, and unless you are one of the rare exceptions this lesson and all these statements of fact are meant for YOU, and apply to you!”
    Napoleon Hill
    ------------------------------------------------------------------------------------------------------------------------
    Some hard questions
    · Do you own a car, a residential house, house furniture, or anything that is not income generating that you have purchased using borrowed money?
    · Is your current source of income from employment (self or employed)? What if you were incapacitated today, what will your life be in six months time? Have you taken the necessary steps to redress this situation?
    · Is this formula true to your income and expenditure: I + D + B + R < E where I is income from interest, D is income from dividends, B is income from business, R rental income and E is personal expenditure (living, education, transport, recreation, and insurance)
    · If the answer to at least two of the above questions is yes then you are a slave on the loose! Cruel as it may sound but this is the fact. You need to take steps!
     
  2. LUSAJO L.M.

    LUSAJO L.M. JF-Expert Member

    #2
    May 21, 2010
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    Thanks. This is really an eye opener.
    LM
     
  3. Ntemi Kazwile

    Ntemi Kazwile JF-Expert Member

    #3
    May 21, 2010
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    The first step to start addressing this malaise is to find a dream team, a group of at least 3 people (including your spouse) who you will meet at least three times a week to discuss ways to get out of poverty... remember saving along will not get you out of jail, you need to find profitable ways to invest your savings and earn returns... the earlier the better!
     
  4. M

    Maamuma JF-Expert Member

    #4
    May 21, 2010
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    Ntemi, thanks for this good advice. What if I don't have a spouse and am not planning to have one?
     
  5. Ntemi Kazwile

    Ntemi Kazwile JF-Expert Member

    #5
    May 21, 2010
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    That is very unfortunate of you.. then find other soulmates that you believe have your best interests at heart.
     
  6. K

    Kabengwe JF-Expert Member

    #6
    May 21, 2010
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    I don't believe in keeping money in the banks!
    Sio kweli kwamba ukiweka fedha benki na kusave ndio njia sahihi ya kuondokana na "utumwa"9Wherever you call it)

    Kuwa na profitable business ndio njia pekee ya kuondokana na umaskini. Na kuwa na profitable business means you are willing to take risk by spending the money that you have been saving for quite sometimes into to a new business venture!

    So,
    Ili uondokane na utumwa, It is not about saving, it is about investing! Period.
     
  7. Ntemi Kazwile

    Ntemi Kazwile JF-Expert Member

    #7
    May 22, 2010
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    Kabengwe,
    You are missing the point, how can invest if you do not have money??? The first thing is to save and then invest those savings into a profitable business.. Yes it is suicidal to keep money in a savings account of a bank. But to have a habit of saving is the starting point to FREEDOM, remember the opposite of saving is SPENDING! A man who spends all their earnings have no chance of investing or taking advantage of opportunities that come accross
     
  8. newmzalendo

    newmzalendo JF-Expert Member

    #8
    May 22, 2010
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    its true ,the rat race lifestyle of being employed is a free slave lifestyle.
    one should have enough freedom to choose when to work or not,and the easy way out is to have someone work for u,or a business which takes less of u r time.
    having said that,there will always be people willing to be employed,paying rent,and hiring things.
    the trick is to be the employer,rent collector(landlord),owner of the hired items,be it a car,truck,tractor etc.

    i am on my way to achieve this freedom,
     
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