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A few tips on money which I have learned over the years



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By Rabison Shumba
Money should be multiplied



Whenever you get access to cash, think of a genuine and legal way to multiply what you have before you spend it on yourself. More is better as it gives you leverage and it multiplies your ability to make a difference.

When I just started working in 1995, I thought that all the money I received was just for spending hence I could not wait for payday to buy music and spend on partying and having fun. I was very surprised to see friends beginning to buy assets such as cars etc. and I still reverenced having a huge collection of CDs. Today I am a changed man. I know that I did Math in school in order to use it hence the term MULTIPLY excites me when it comes to money.
Money must work for you – There comes a time when you get money to do some work while you sleep. With time you need to reverse roles with money. Let it work for you instead of you working for money. If you had a $1000 and you deliberately invest it in a lucrative product, shares or other investment portfolios, that money will have doubled in 6 months if not trebled.

Learn to set aside surplus not under your pillow but in some investment house somewhere. Have many streams of income coming your way. One thing I realized during the economic turmoil which we faced in Zimbabwe for 10 years and the world over in the recent past is that you need something that generates hard cash daily. It may not be your core business but it helps to cast your net wide. While you specialize in your area of study, diversification helps you immensely

Money in itself is not the sum total of wealth – Money will make you rich and not necessarily wealthy. Riches fly away but wealth is more than money. When you invest in buildings and other immovable legacy elements, you are growing your wealth portfolio.

It is easy to lose money – Money is lost in many ways. If you have to replace the same asset because of damage or loss then you are losing money, when your time is wasted, realize that your money is being wasted too. It’s easy to be rich today and a pauper tomorrow if you do not exercise wisdom on money matters.

You get money to the level of your responsibility and readiness to manage it – Money that comes to someone without enough wisdom to use it will soon fly away, money becomes a source of danger when it comes to a juvenile who has no clue what this power tool can do.

I have watched lotto winners move from millionaire to zero status because they were not ready to receive such amounts and lacked wisdom in spending. I realized that as I grew in my level of responsibility, taking care of the needs of my family, brothers and sisters, I seemed to increase in my financial capacity. Watch people who focus on themselves; their financial capacity is stunted.
Plan your money just as you plan your life – No matter how much money you have, a clear spending plan and reporting exercise is necessary.

A simple budget and recording of expenditure will help you realize where your money is going. It removes the surprise factor where “suddenly” you realize you actually no longer have the money you used to claim you have. Money sometimes seems to “disappear” from your wallet but it is all because you have poor management skills as an individual. You must be able to account for every cent that you spend. Failure to do so will make you an enemy of your own greatness.

Make decisions with the knowledge that each one affects your bank balance – It does not matter the color, size or nature of decision you make each day, it either adds to your money or takes away. One man taught me that every decision has a financial consequence. Think about that each time you decide. As long as you are alive, you will always have to make decisions. Daily you are either making a decision that will take money away from you or increasing the money available to you.
Never Borrow money to finance expenditure – I can agree with you if you say to me you borrowed in order to finance an order you had received. You borrowed to buy a house or some other asset that can generate revenue

Most people approach banks for financing and wonder why their applications are not approved.

You definitely need money to make money – Most ideas need financing. I do know however that there are many who have managed to start businesses without money. You see, the pro-VISION always follows VISION just as CREAM follows DREAMS. You have to have vision first and money will pursue it passionately.
Money has capacity to solve a number of problems – Most problems that we know of continue to haunt mankind because there is not enough money that can be put towards solving those problems.

Hunger and starvation, lack of shelter, killer diseases and poor communication in some parts of the world are a result of lack of enough funding to solve those problems. You can wish, hope, pray, cry all you want but if you not get the money to buy the products you need then the problems persists.

Many people who have made money never thought of money in the first place, they thought of helping people but made a lot of money in the process of helping mankind live a better life. This makes the third world communities and countries the best place to put your money and charitable efforts.

As you help alleviate poverty, disease, hunger and all the things that lack, guess what, you increase your capacity to attract more. I am not advocating for aid as the ultimate solution. Use your money to EMPOWER communities to realize they have a responsibility to get themselves out of their situation. Self-help incoming generating projects are the solution to all the ills that plague nations the world over.

Having said it all, money is not the epitome or definition of success. I like the quote below

“Success is not the money you have in the bank, nor even the cars you have, but the number of people you have helped achieve success” -Josh Tackier-

rabisonAuthor: Rabison Shumba. Rabison Shumba is a young African entrepreneur with interests in Information and Communication Technology, Agriculture and Mining. He is also a motivational speaker and business consultant. Rabison is the author of “The Greatness ManualGo Deeper | Website




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