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Why you must work and manage your time to grow your assets for wealth

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Prime Dynamics, Mar 11, 2011.

  1. P

    Prime Dynamics JF-Expert Member

    Mar 11, 2011
    Joined: Dec 30, 2010
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    [FONT=&quot]The rising cost of living has made the need for management of personal finances more urgent than ever before. If you have a poor money habit, you should have realised by now that you need to change the way you think about money. Given the fluctuation in prices of so many things, most of the expenditure forecasts will need revision to take into account of the changes. This implies that if you haven’t made any effort to multiply your income through investments, expenditure on basic needs it’s taking a bigger portion of your income. If we look at such a scenario, one has to work on multiplying his income resources. If most of your income is spent on consumption, you will inevitably have no surplus to save to invest. A sustainable wealth plan should look towards having a bigger share of your income geared or engineered towards investment in assets that will eventually finance your lifestyle.
    Once you have an estimate of the expenditure, you can then work out the income side to figure out the deficit or surplus. If you don’t have a plan in place, now is the time to get together to work out a financial plan that takes into account the total income, expenditure, savings, investment and retirement. if you already have plans that have not been implemented, now it’s the time to assess the reason for not sticking on your plans. You have to implement your business plans now. You rather try and fail than failing to try.
    Think and follow a financial plan, however, changing your money habits may take sometime and commitment to achieve this level of discipline. To be able to achieve future success, you have to forego on non-essentials now to be able to follow through your wealth creation aspirations. Some people have made a very bad habit on finance. They will come up with all excuses not to save and invest arguing that money is not enough or they claim to have so many obligations to fulfill in the family or clan in general. However, you should remember that if you lack the discipline to manage the little you have or get, it will be impossible to manage when the amounts increase because expenses usually rise with increase in income.
    Another thing to consider is changing the way you manage time. It is critical to create time to search for information on how to leverage your skills to earn more income.
    You should also seek more information from those you consider mentors so that you learn the way they think and do things. Learn how to make things happen. Planning and learning process takes time. Nevertheless, consider this an investment towards your wealth creation goals.
    That is my point of view.


    MIUNDOMBINU JF-Expert Member

    Mar 11, 2011
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    sure.good one.
  3. Ba Martha

    Ba Martha JF-Expert Member

    Mar 11, 2011
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    Mkuu hapo kwenye red of coz ni kitu kinachosumbua sana.....
  4. Husninyo

    Husninyo JF-Expert Member

    Mar 11, 2011
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    Kwa wanawake ni ngumu na inahitaji comittment hasa maana huwa tuna matumizi mengi ya ajabu ajabu.
    Ubarikiwe kwa kutukumbusha.
  5. P

    Prime Dynamics JF-Expert Member

    Mar 11, 2011
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    Ni kweli mkuu lakini jaribu kupangilia hivi, kwa mfano unatakiwa kuwa na mipango ya mwaka kesho au miaka 5 kwanzia leo. Jinsi ya kupangilia; so long as unafanya kazi unacho takiwa kufanya jizoeshe kuweka akiba hata kama ni 2000 kila siku. Ebu fikiria tangu huanze kufanya kazi je ungekua unaweka Tsh 2000 kila siku leo hii akiba kiasi gani ungekua nayo? Utakuta kwamba tayari unayo miaka 5 kazini na huna mabadiliko kiuchumi na pia miaka kumi itafika utakua vilevile sanasana utakua umegain experience kazini but time will never wait for you. Hiyo ndio njia pekee ya kuepuka kukopa na kujiingiza katika matatizo yasio kua ya lazima. Na pia ebu fikiria unataka kupandishiwa mshahara kazini halafu tajiri yako anakutupia swali "How much do you think is enough?" This is a good question without a simple answer. Yet wakati unapokea salary ya laki 3 ulikua na maisha poa sana, ulipo pandishiwa tu ndio ukaanza ukaona salary haitoshi as time goes by. The bottom line is akiba ni muhimu.