I dedicated the month of August to wide learning of different materials on different subjects before I launch out deep into something new am working on. With almost two-thirds of the month spent already, I am must say I am really glad the progress I have made having realized I had even successfully built two radio and news android applications which I will tell you about soon.

That notwithstanding, I also got to learn about what I term ‘wisdom keys’ for wealth creation which I am about to share with you in this post.

They are mostly the rarely given advice and bitter truths many are not too exposed to, and if they were, so easily despised.

 

#1: Do Not Borrow: Do not borrow? Yes! “Some of our best customers are those companies that are poorly managed financially,” a banker reportedly confessed in relation to borrowing. While many believe in borrowing and investing in capital markets or other money yielding ventures, this new thinking says such practice will only land you in frustration and stress over how to pay back loans. I have seen many people whose lives have been negatively impacted due to borrowing, excessive borrowing. Borrowing from one party to pay the other, missing deadlines and accruing interests among other difficulties. To avoid borrowing, here is what I believe often, if I don’t have the money to do that now, it probably isn’t much of a need as I think.

 

#2: Give: Just as the Biblical principle of giving states, “Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap…..”. I have come to believe this because I have seen it work on numerous occasions. It seem strange to think that by giving (losing) money to someone else, you will receiving (gain) the same amount and even more. While I may not be able to fully explain in text why this is an awesome wisdom key for wealth creation, I will urge you to put it to test!

 

#3: Low prices isn’t always inferior: We are often laughed at when we mention the price of some products we purchase because many have bought into the idea that products that are less expensive or at least below the average price are always inferior. Not every product! and I am sure of this. Look, make it a point to find alternatives that cost less, either in actual price or other costs involved in securing the product.

 

#4: Don’t just save, invest: Saving as an age-old practice has been extremely helpful and helps you stand financially in times of difficulty but its not really so anymore. Why lock your money somewhere with the hope of using it in the event of an extreme need when you could actually make more with it by investing it. There are today numerous investment options that can help you ‘grow you money’ as some say. This can also be related to my fifth lesson.

 

#5: Invest in another profitable venture. Its not enough to make money from just a single source. Having multiple sources of income isn’t bad. There are a few things you risk with this but it may be worth it. I will share with you in my next post a list of 100 businesses you can start in Ghana with just GHs100 ($25) as compiled by my friends Bernard Kelvin Clive of BKC Consult and John Armah of Orios Group.

BECOME A MILLIONAIRE IN 2017; INVEST HERE

           

 

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