This is about personal finance education, advise and stories on how people overcome their financial struggle,and different ways taken to solve money problems.
Jaman pesa ni mihimu hasa katika maendeleo yetu ya Sasa na baadae.Zipo sababu au tabia ukizifuata kweli unakuwa mwenye kupita kwenye mafanikio na mwishowe utafanikiwa.zifuatazo ni baadhi ya sababu katika kufanikiwa.
Kufanya kazi..
Kutunza fedha..
Kujali mda…..
Kusoma vitabu vya fedha…
Kupanga ratiba ya kila siku..
Kuandaa maisha ya uzeeni..
Asante kwa leo nitaleta masomo mengine baada ya hili .imeandaliwa na kuchapishwa na
Othuman.AR
Money divided according to the way of an individual earn his/her income, some earning money from Business,some earning money from investment like stock,and most people earning money from Job/salaries.According to the most financial researchers earning money is divided into categories but each group has a specific money mindset.example. Investors have different mindset, Business owners have different mindset,self employed have different mindset, employees have different mindset.
These are three types of Income
PORTFOLIO
In this type an individual or organization earn their income by buying goods in a low price then sell them in a high price.example if someone buy a silver for $150 per coin then letter sell for $156 that is portfolio income.the main character in portfolio income is buying then selling.
PASSIVE INCOME
This is the type of income most investors are here.Passive income is when individual creat many assets those generate income although the owner is out of the business for years.Passive income is controlled by strong mission and well business management like the business has workers, managers,and business owners.while you buy stock in serious company you will continue to receive your dividend without working.while buying a real estate proceed to generate income in your Bank account without much effort.
EARNED INCOME
Now most people are here, about 90 percent of the population earn money through their blood effort by working hard to the government, company even to an individual.earned income is where someone trade his/her time with money,that means in earned income no Job no money.self employed also are here because,if you have business and nothing going without your efforts that is.Employees own time exchange with money while self-employed own time and job exchange with money.
CONCLUSION.
These are the types of Income those determine our daily life, after realize where you are don’t fight against this statement.You have to change your mindset by reading financial books, blogs like this and listening financial advisors only to rebuild and starting to create your future.
All these types have advantage and disadvantage follow and be strained in the All these by reading that will bring you into good choice, comfortable for your old age.
Portfolio also needs updated every day on upcoming goods to ensure the needs of your clients.
Passive income also know as cash flow,this type of income don’t need us even forever and our business will proceed to generate income to our Bank accounts.
Make money for your enjoyments with no work or job.if you want to create Wealth kingdom for you and your family focusing and struggling your life to create your own business mainly passive income (cash flow),and if you want someone or boss or company you working for to build their wealth and maintain riches, alright work for them untill you die.
Prepared by
Othuman.AR
Improve your financial intelligent will improve your life..
Corona pandemic disease spread and destroy world economy, while viruses start killing people in China,no one thought this disease could spread to our countries.So Corona spread all over the world and leave us with tears for killing our lovely relatives, children, business partners and also this pandemic continued to kill our daily motion, individual economy and so on.
Although we have tears from the effects of corona disease but every bad object for some may benefit.so pandemic leave us with strong financial IQ.These are five Impact of Pandemic for most people.
EMERGENCY FUND.
This is the amount of money that is saved in a pocket aside that is mainly for emergency use.Like to repair a car from accident, suffering to one of the family member need treatment, while lockdown
The aim of emergency Fund is to solve the bad aspect while happening to life and not to spend like buying a new car, house, traveling and so on.Pandemic come to shake our financial immune,also after all leave us with strong financial immune.Now we stick on creating Emergency Fund that will reduce the effects of another next pandemic disease mainly to our financial situation.lf we had emergency Fund lockdown couldn’t eat our economy………….!
SAVING MORE
Saving is a good idea that everyone now gives a priority in life, you don’t need to save all amount of money you earn at least to follow one of the saving and spending principle that is good and simple like:50/30/20 rule.This rule if followed and obeyed effectively to both us l think maybe this pandemic could not spreaded like this because all we could obey the government and other advise like lockdown to reduce the high speed of this disease.
The question is how much to save?
Inorder to know how much money to save you have to observe your day expenses times 30days so you get one month.Then take the expenses of one month times three or six months,this advise is taken from many financial advisors.some advise save for even one year.the reason of saving more money is to escape from debts while we need money…
BUDGETING MONEY
By the short definition budget is a mirror lens that used to look and planning your money.To count money and planning for better use is the one of the financial literacy,now we have to eliminate bad money habits like, alcohol drinking, buying unnecessary things, cigarettes inorder to save more for our future.
The Pandemic came to push all free spending to one of the financial literacy,budgeting their money.and both we know how budget is crucial to our financy.budgeting means after earning a amount of money instead of spending them,first make good decision on where your money go.like food, shelter, housing, transport, saving and investing..
INVESTING YOUR MONEY
Investing is to put amount of money in a certain proper fund for increasing them, investing means to leave your money work had for you.while Pandemic forced us to stay home online business like blog,forex, stock remaining as priority to many people.the main impact of investment is earning money while we sleep,so if we could invest early really we could reduce stress and anxiety in that transitional period..
READING FINANCIAL BOOKS
Corona viruses handicap our daily motion a lot untill some people forced in another new good habits like reading financial blogs and books.Is true that if you want to change your life financially,you have to read financial books,like l red Rich Dad poor Dad by Kiyosaki,l will teach you to Rich, You where born Rich by Bob proctor, the Richest man in babyron and many,.
On these sample books you may get some of the financial skills like, leadership and financial literacy that is more important if you want success.Reading books during lockdown give me new life like on how to solve money problems and social……
Thanks much and leave you a question to discuss.
What good changes and impacts of pandemic you develop after survive from?….,…….
Money is struggled by everyone in the world,the blinds men find money, women find money, musicians find money, politicians find money, students are struggling to earn money, church organization find,and even me and you all we need money.
Why money now cause us stressful life? the first thing is to understand what is money?the problem is not paper money, money is an idea.
The problem is most people have no good idea and some people have many good idea and we share our idea with others but we still stressing our life, unhappy also poor.The second thing is inability of an individual or people to convert Idea into money.The Idea originated from the brain as thoughts and men have to convert them into tangible service to people then people will give you money after receiving service that you provided to them. The following is a major problem or reason Why money will never give us happiness..
Poor money management.
While receiving certain amount of money just observe yourself what habit you develop even in a short time,that behavior is risk and destroyer for your Cash.eg impulsivity,thus you spend money in every aspect you see at that time.You may buy things those real you don’t want,you buy only inorder to look Rich while still poor.that is bad money spending.
Warren Buffet used to say,if you buy things you don’t need, soon you will have to sell things you need.
After receiving a check or money notification already come in your Bank account first thing to planning (Budgeting) your money before you take them.This will help you to reduce the effects of money mismanagement.You are needed to plan on the part like..
Important thing like food, shelter.
Saving for emergency.
Paying debts.
CONCLUSION
Money pay our bills, money pay our toys,our lovely thing, money maintain relationship, and many important things.So successful life such as good house, good transport, healthy family all these and many others bring us happiness,so having money and managing them well will buy these things we need that cause us living successful life, happiness and peace.
Otherwise poor money management will cause us in stressful life because is not about how much you earn is about how you manage your money.
Improve your money management will improve your life.by
Othumani.AR
THE TRANSACTIONAl WAY TO FINANCIAL LITERACY. When l was 20s one mistake push me aside for 6years untill l get to know my financial problems was how to manage money.l pass into life with stress, anxiety, misunderstood.once l finished my University education in short time l was employed by government as medical doctor with standard […]
THE TRANSACTIONAl WAY TO FINANCIAL LITERACY.
Financial literacy and advise