This is my response to @clixmoney's DCC theme of the week. You can also join in. Read all about it here: [DCC tag contest - Let's support #money]
Money is good and I would never deny that. Money is a tool as I would like to put it but most people see this differently. I've seen and heard people do despicable things all in the name of money and I've seen and heard a lot of people have the wrong notion about what money is all about. When the value of a thing is not known, abuse is inevitable. A lot of people don't have as much money as they should because when they had the money they failed to engage it. When you don't engage the flow of resources that comes to your hand, it slips away.
I read a story many years ago about a lecturer who was giving a lecture and he asked one of the students what he would do with 10 Million Naira ($18,000 but then, with the exchange rate, it was $48,000). The student walked politely to the front of the class, grabbed the marker and wrote on the board that he would buy a car, buy land, give money to his mother and travel out of the country on sightseeing with the rest of the money. My heart sank, just hearing that.
The problem is that most people don't plan for money, they just want a huge amount of money but they don't even know what to do with it. They see money as something they have to spend and enjoy rather than a tool to secure their future.
Imagine that student, the only reasonable thing he mentioned was buying a landed property and it depends on where he is buying it to make us know how that land would appreciate over the years. Yes, he would give some part to his mother and I would say that's wise too because I want to believe that mother has seen a lot to know not to squander it.
The way I see money, I see it as a tool that you have to quickly make use of to achieve something bigger. No one would just give you money because they have to, they also need value for that money. Money comes and goes and it takes only those who are smart enough to do something productive with it.
I've seen situations where a lot of people put themselves into trouble over things they cannot afford. If you cannot afford it, avoid it. As enticing as money is, it should be used for something that would give you a return later on and that's why it's called investment. There are many reasons why we can save money and it calls for planning. Some people save money for precautionary measures while some hold for a transactional motive.
You can hold money for several reasons but there is a difference between the rich and the wealthy because the wealthy ones are the ones who make good use of their riches and reproduce it. It hurts me to see resource; which is money, that is scarce and a lot of people either don't know what to do with it or they just waste it on things that have no return on that money.
Money is good to enjoy the good things of life but a certain portion of your money should be given to investment. I am not against those who spend it on luxuries, of course not, who wouldn't want to enjoy? But a significant portion should go into reproducing what you have apportioned for luxuries.
He is not a fool who invests from his pocket into gaining knowledge. There are a lot of things we can invest money in and investing in knowledge is vital. Whatever you gained from it cannot be taken from you depending on what knowledge you hoped to gain from it.
Money is good but I am always aggrieved when I see people lack adequate plans on that money. I know better because I was once like that. I had my hands on a huge amount of money many years ago and I was buying clothes, glasses, perfumes and belt and when I noticed the balance going down, that was when I quickly invested in poultry birds 🤣🤣😂😂. I only imagined if I had planned for it before dipping my hands in it, I would have done that poultry bird on a medium scale.
The thing with money is that it pushes you...it pushes you to see what doesn't appeal to you before becoming suddenly appealing and that's why in the market survey we have impulse buyers. The product appeals to them, they want to show off or they just want to try something new out and they buy only for them to use a significant amount of money on something they might end up not liking.
Money is a tool and that's the way I see it. I would rather channel it into something that would yield more for me and yes, I enjoy spoiling myself too but after due planning.
I read @hlezama's post, which you can find here: [Finders Keepers | [WE94] WEEKEND-ENGAGEMENT] What struck me about what he said is this and I quote:
The idea of using the money for some charitable cause is also tempting, but when you are deep in debt and need, it becomes you Vs. them. The priority would be to try to solve as many of your own problems as possible.
It's natural for you to want to use the money for your immediate need which is wise but with placing preference to our needs, it becomes important for us to set aside a little fraction that can reproduce for us no matter how little and just as he said, it becomes harder when we have pressing needs but there is always a priority to be made. In Economics, we call it alternative forgone which means what you are letting go to satisfy a more pressing needs. Some needs are important but not urgent just as we have the ones that are urgent but can be deferred, it's all about planning. The value of money is to always put it into good use and not squander it. If meeting a pressing need would ease us up so we can focus and have more resources available soon, by all means, we should do it.
Thank you for your time.
My pen doesn't bleed, it speaks, with speed and ease.
Still me,
My tongue is like the pen of a ready writer.
Olawalium; (Love's chemical content, in human form). Take a dose today: doctor's order.
There's this saying, "money is a spirit".
Most people that plan, strategize and invest towards money get more money. Getting more money is all about foresight. For example, you want $1M, have you sat down and given a detailed outline as to how you'd multiply that $1M to $10M in five years?
People who don't plan or foresee never have enough money because they never know how to manage and maximize.
God bless you. It's all about foresight and adequate planning. Most people want to get money but they don't even know what to do with it.
Which is highly destructive. Thanks for your insightful posg
Thank you for being here, Dera 😍
Money self!
It's hard to plan it all. The truth is that it's something designed to be spent! No matter how you save or invest, it' must be spent. But the difference between you and I may be the rate at which we spend what we earn.
Money is best in the hands of one with self-control
Some persons just one to spend the next thing that comes there way, while others want to be strategic about it. The more self-control a person has, the better he/she will be in life and in money management.
Nice post bro!
That's true... A lot of people are controlled by money where as they should be the one to control it and channel it on what's to be spent on. I enjoyed this. Thanks a lot.
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Thank you, Posh.
The thing is that people believe that money is just to enjoy yourself. If that totally wrong? NO
Why do you even work for money if not to satisfy your wants and needs. The only problem is that people are not disciplined when it comes to spending money. This boils down to priority. When you prioritize your spending, you won't run into lack or debt
Sweet comment. It boils down on discipline and priorities. Most people lack discipline and they get their priorities wrong. They don't have foresight too which can help them reproduce the money.
Gbam
Hahaha this made me laugh.
Glad you laughed. Do have a nice day
You too, dear. 🤗
Money is a spirit my brother
Absolutely dear.
Can you please fix the link to the promoted post, for some reason it doesn't open for me.
I will do that right away.
Updated: fixed sir.