The word Poverty means different meaning to different people

Poverty does not only mean when you don’t have a certain amount of money at hand to eat, cloth or do something you desire.

So what does Poverty really mean ?

I define Poverty as when you don’t have the resources to live a convenient and comfortable life you desire.

There are 3 things you have to do In order to move from a person suffering from poverty to a person who don’t even worry about how to pay your bills, sort out sudden expenses and live the kind of life you desire.

1. Recognize your Current Situation

In order for you to be able to move from a person suffering from poverty, you need to first recognize your current situation.

This can be really depressing but it is important you go through this step if you really want to change your current situation.

Step 1
Make a list of all your debts / loan then add all of the numbers together.

Step 2
Write down the total of the debt and loan you are owing.

Step 3
Write down the amount of your salary

Step 4 - Subtract your expenses from your salary and write down how much is left.

Step 5 - Write Down your Desires in life ( type of car you want to be driving, kind of house you want to live in , country you love to travel to etc)

The reason why you are doing these is for you to be able to

Know how much you really need to settle your debt

Know how much money you really need to be making consistently so as to cover up for your expenses and live the kind of life you desire.


Another thing you need to do in order to escape poverty is

2. Understand What Money is and the Steps you need to follow in order to make Money.

So What is Money ?

Money is simply an exchange of value and value can either be in form of Service or Product.

What then are the Steps you need to follow in order to make money

Step 1 - The Right Approach

You need to know that in order for you to make more than enough money to say complete bye bye to Poverty is not a JOB but a SERVICE.

See

When it comes to a JOB, you are only paid a salary at the end of every 30 days which means you spend almost all your entire life working and the end you still find yourself in debt.

Permit me to define what a SERVICE is for you.

A Service is when you are able to specifically and consistently serve a certain number of people on a monthly basis.

Meaning

You help people solve some specific kind of problem daily, weekly or monthly.

The amount of money you want to make depends on two things

1. How many people are you willing to help solve their problem and

2. What kind of problem do you want to help people solve.

Permit me to list of some Various Kinds of problem faced by people you can tap into

Some people are looking for how to make more money

Some people are looking for how to last long in bed with a woman

Some people are looking for legit way on how to travel out Nigeria to a foreign land

Some people are looking for how to loose weight

Some people are looking for how to get customers to buy what they sell

These are some problems faced by people and the moment you decide on solving any of these , you are on your way to wealth.

The money you want to make is in the problem of people meaning the moment the problem of these people get solved you make money.

Below is a simple example

The cost of Service you are rendering = 10, 000

For you to make 100K in a week, you only need 10 people to pay you 10k

For you to make 1Million in a Month , you only need 100 people to pay you 10k

Hope this is clear

Step 2.

Find a Solution to this problem that is packaged as a Digital Product and sell it to people that needs it.

A Digital Product is a knowledge base products in form of PDFs, video training or Online courses that teaches people how to achieve a goal or solve a problem they are facing.

Digital Product can also be called Information Product.

One of the beauty of a Digital Product is that it never out of stock , you can sell it to as many as possible.

Imagine you sell a Problem Solving Digital Product that cost 20k to 100 people , that is 2Million.

What if you don't have a Digital Product and you don't even know how to create one , what can you do ?

You simply Sell Digital Product owned by someone and once you made a sale you earn a commission

Imagine you sell a Digital Product that cost just 10, 000 and your commission when you sell it is 50%

You only need to sell 10 of this Digital Product to People that need it and you make 100, 000.

The simple route here is called Affiliate Marketing and this is what alot of Nigerians are using to make money for themselves .

To know more about Affliate Marketing , simply send me a Dm

3. The Last thing you need to do in order to completely leave poverty is by Understanding how to Keep Money

You simply keep money in 2wsys

1. Save Money
2. Invest Money

1. Save Money

Saving means different things to different people.

To some it means putting money in the bank and to others, it means buying stocks or contributing to a pension plan.

Saving is setting aside money you don’t spend now for emergencies or for a future purchase.

As a person who is willing to leave poverty quickly , you need to have the habit of saving money.

How then can you save your money?

1. Record your Expenses

The first step to start saving money is figuring out how much you spend.

Keep track of all your expenses that means every coffee, household item and cash tip as well as regular monthly bills.

You can record it in either a book or apps like colournote

2. Include Saving in your budget

Now that you know what you spend in a month, you can begin to create a budget.

Your budget should show what your expenses are relative to your income, so that you can plan your spending and limit overspending.

Don't forget to Include a savings category in your budget and aim to save an amount that initially feels comfortable to you.

3. Find way to cut spending

If you can’t save as much as you’d like, it might be time to cut back on expenses.

4. Set Savings Goal

One of the best ways to save money is to set a goal. Start by thinking about what you might want to save for both in the short term (one to three years) and the long term (four or more years).

Estimate how much money you’ll need and how long it might take you to save it.

An example of a short term goal is Emergency fund (three to nine months of living expenses), vacation or down payment for a car.

An example of a long term goal is (Down payment on a home or a remodeling project, your child’s education or retirement).

5. Determine your Fnancial Priorities

After your expenses and income, your goals are likely to have the biggest impact on how you allocate your savings.

For example, if you know you’re going to need to replace your car in the near future, you could start putting away money for one now.

Learning how to prioritize your savings goals can give you a clear idea of how to allocate your savings.

6. Pick the Right Tools

There are many savings and investment accounts suitable for short- and long-term goals.

You can decide to use a savings account or an app like Piggyvest to save your money.

7. Watch your Savings Grow

Review your budget and check your progress every month. That will help you not only stick to your personal savings plan, but also identify and fix problems quickly.

2. Invest Money

Another way you can keep money is by investing it

Investing is buying assets such as stocks, bonds, mutual funds or real estate with the expectation that your investment will make money for you.

Investments usually are selected to achieve long-term goals. Generally speaking, investments can be categorized as income investments or growth investments.

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Like, Comment and Share this to another Salary Earner like you.

I wish you success.

Adeleke Femi David
Affliate Business Consultant / Digital Entrepreneur

Connect with me 08154666163