Recessions often provide one of the best periods to invest. This is because overtime the prices of things that had hitherto skyrocketed would begin to fall. Don’t rush to buy or invest. Wait till it has come down enough for you to justify the investment as truly worth the value you are exchanging for it.

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The gap between the rich and the middle class continues to widen because the crucial ingredient with which to cross the divide is missing. What is required is more than a change in income; it is a change in paradigm!

This is our focus in the ‘Mastering Money’ series. There are mindsets that must be altered and habits that must be changed if you want to build sustainable wealth. Learn and begin to Think, Talk and Take action like the rich.



Mastering Money 3.6: We go to school to acquire academic intelligence. Some of us go further by writing exams to increase our professional intelligence. But we often do nothing to sharpen our FINANCIAL INTELLIGENCE. Mastering Money starts here!

Action Point: Learn and sharpen your FINANCIAL INTELLIGENCE.



Mastering Money 3.7: The poor spend on expenses. The middle class spend on liabilities. The RICH spend on ASSETS. Your status is not determined by the size of your income but by the DIRECTION of your expenses. SPEND wisely!

Action Point: Spend more on ASSETS.



Mastering Money 3.8: We all have short term financial needs and long term financial goals. There are various FINANCIAL SERVICES specially packaged for these purposes. Talk to your FINANCIAL ADVISOR to know the appropriate product(s) for you.

Action Point: Get a FINANCIAL ADVISOR.



Mastering Money 3.9: The root cause of unrealized financial dreams and plans is a lack of FINANCIAL DISCIPLINE. Being TRUE to yourself and having a strong ‘WHY’ for wanting to be rich keeps you DISCIPLINED as you build wealth.

Action Point: Write down WHY you want to be wealthy.



Mastering Money 3.10: It is not how much you make that matters but how much you are able to KEEP. Cultivate a ‘saving culture’ to ensure you have a RESERVE. This reserve is what you will use to create wealth.

Action Point: Open a RESERVE account today.



Many people make money, some have learnt to manage it, but very few have mastered money. This phase is a must if you want to transit from the middle class to riches.

Multiplying Money 4.7:
The primary way to increase wealth is to build your own BUSINESS. Everyone works for one and businesses run the economy. Having your own BUSINESS helps you to multiply yourself by LEVERAGING on other people's skills, time and money.

Multiplying Money 4.6:
Ever wondered why several Multinational Companies and Foreign Investors are coming to Nigeria? We have the MARKET and the OPPORTUNITIES are ripe. Prepare and Position yourself to take advantage of these opportunities.

Financial Intelligence Nuggets

Mastering Money 3.9:
The root cause of unrealised financial dreams and plans is a lack of FINANCIAL DISCIPLINE. Being TRUE to yourself and having a strong 'WHY' for wanting to be rich keeps you DISCIPLINED as you build wealth.

Do you know that according to Parkinson's Law, expenses will always rise to meet income? Put in simple terms, no matter how much money you make it can never be enough. This then tells us that the only way to be wealthy and have enough reserve is by disobeying this law.

This can be done by learning how to manage money in order to have a reserve. This reserve is what you will use to create wealth. In the Managing Money series, we are looking at salient truths that if followed religiously can help you achieve your aim of building sustainable wealth in record time.



Managing Money 2.6: 'The journey of a thousand miles begins with a step.' A financial AUDIT gives you a snapshot of your current NETWORTH. This serves as the foundation for your financial PLAN.

Action Point: Do a FINANCIAL AUDIT to know how much you are worth.



Managing Money 2.7: A major tool in managing your money is the keeping of FINANCIAL RECORDS. Proper documentation will save you from embarrassment and can also be a leverage for extra income. Maintain a FILE for all your financial transactions.

Action Point: Start keeping proper FINANCIAL RECORDS for ease of reference.



Managing Money 2.8: 'Everything in life that works has a pattern.' The rich have discovered a CASHFLOW PATTERN that works and have stuck to it. You must learn to master your cash flow pattern if you want to build sustainable wealth.

Action Point: Master your CASHFLOW PATTERN so you don't spend anyhow.



Managing Money 2.9: Do you know that TAXES favour the entrepreneur more than the employee? The employee pays TAX before he pays for his expenses. The entrepreneur on the other hand, only pays TAX after deducting his expenses.

Action Point: Create your own Corporation to maximize your TAX ADVANTAGES.



Managing Money 2.10: Taking an INSURANCE policy protects you and your assets against risks and emergencies. While nobody prays for them, they are uncertainties that cannot be predicted. Your INVESTMENT in INSURANCE can save you a whole life's fortune.

Action Point: INSURE your assets today so you don't lose them overnight.



Don't just read and know these truths; take ACTION today!

As you must have known by now, building sustainable wealth begins with your ability to make money and increase your income. In season 1, we looked at some underlying mindsets that you should have to make money. In this season 2, we are exploring practical ways to increase your income. This has been carefully structured to cover the five major income streams.

Making Money 1.6: ’Your network determines your net worth.’ Your work provides you with an opportunity to network with sharp minds. Build NETWORKS where you work. This network will be useful for business and investment purposes.
Self assessment: Who is in your NETWORK?

Making Money 1.7: Over the years, a major investment vehicle of the rich has been REAL ESTATE. The passive income comes in the form of RENTAL INCOME and VALUE APPRECIATION. You can start your own investment today, with what you have.
Self assessment: Do you have a REAL estate?

Making Money 1.8: The rich buy SHARES as a way of owning a part of big corporations. While many speculators lost money in the last recession and became investment-averse, the wise investors are still in the market. SHAREHOLDING remains a vibrant investment vehicle for building sustainable wealth.
Self assessment: What is in your PORTFOLIO?

Making Money 1.9: While many people are struggling to get a piece of the real estate market, many more are ignoring the real estate of the future. With a WEB-SITE, you create your own SPACE on the world wide web. This expands your reach and increases your income.
Self assessment: Are you LOCATED on the WWW?

Making Money 1.10: TRADING is an age-long business that is still very profitable today. All you require is to add a MARGIN to your cost price and SELL. You can master the art of trading and be the point-man for a particular product of choice.
Self assessment: What are you SELLING?
These are life-changing nuggets that summarize the season 2. Digest them and draw up your plan to implement at least one of them. This will ensure that you are on your pathway to wealth.

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i think people also want to increase their income

Money is an important resource that we all grapple with everyday. In your opinion, what are the 3 greatest money problems of a typical Nigerian. You can also proffer solutions to some other people's points. For me i think they are:
1. little cash
2. plenty expenses
3. fear of the unknown (future)

What do you think?

The reason most people work is to make a living. Many even go the extra mile of working two or three jobs while others move from one job to another in order to make ends meet. Several complain that their ‘take home’ pay does not take them home and many are only a pay check away from getting broke. Income has become a popular word and many are ready to do anything to increase what they earn.

In the quest for more income and greater benefits, a particular form of income is often forgotten. Some call it passive income, but I prefer to call it residual income because of its residual nature. Some require little consistent effort from you while for others you may do the big work once. The beauty is its potential to generate an endless stream of income. Unlike your job where your pay is often pre-determined, with a residual income, the possibilities are numerous. Let us take a look at a few of them.

1. Intellectual Property: What do you know or can do? What do people know you for or consistently consult you about? The truth is you can do it so well that people will begin to pay you for it. This may be related to what you studied, while often times it is just a skill or experience you have. You can hone your skills and become an authority in that field. Turn it into a product and be sure to protect it legally. The reward comes in the form of royalty and fees.

2. Automated Business: People often ask what kind of business they can do or how they can monitor their business while still working at their job? The secret is automation. You simply need to build a system and structure around your business of choice. A system is anything that saves you stress, time, energy and money. With this your business will run by itself with minimal supervision. Coupled with a proper structure, the business will grow overtime and will continue to earn you profit.

3. Affiliate Marketing: We recommend products, refer clients or even convert customers from one business to another on a daily basis. Yet we are never paid for this service. There are many credible companies and businesses that are willing to pay you for a referral. If you are in business, you can also take advantage of this and give some commission to people who help to promote your business. You should never underestimate the power of word of mouth (or word of mouse) advertisement. The word of caution is to only recommend credible businesses.

These are just a few things you can do along with your major source of income. They do not only require minimal effort, but also possess the ability to give you a recurring income. Just like the Garden of Eden, your life ought to be watered from more than one stream. Take advantage of the untapped sources of income around you.


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The brain is a unique part of our body that controls the other parts. To a large extent, it also determines our personalities. It is the seat of the will, emotions and intellect and often referred to as the soul or mind.

In the process of wealth creation, the importance of the brain cannot be over emphasized. Great inventions and big multinational companies are products of the brain. The systems and structures, goods and services that we see today came into existence because someone chose to use his brain. I want to share with you a few areas where your brain is instrumental to your wealth creation.

Mindset: This is your belief system. It represents your mentality and the perspective from which you view things. Our mindsets are formed by our background, experiences as well as who or what we are exposed to. After a period, we discover that our minds are set in a particular direction. The question today is: what is your mindset about wealth? Do you see it as an exclusive right of a few or as something you can choose to have? Do you understand that it is a process or you believe in overnight riches? These mindsets, vocalized or not, dictate the direction our lives take. Make up your mind to unlearn incorrect thought patterns about wealth. Choose to have a paradigm shift and believe that you can build wealth overtime.

Imagination: This is the mental picture you have of something. The word is from two words; image and nation, meaning you can birth a nation from the image you have. What pictures do you paint in your mind? Pictures come alive, dreams get realized, visions are birthed, and imaginations become creations. If you continually see yourself as mediocre, struggling or average, the chances are you may never pass that level. But if you consistently envision a successful and wealthy you, it is only a matter of time, that inner picture will become a visible portrait. Take time off regularly from the hustle and bustle of life and dream. Imagine and envision what you want your life to be, how wealthy you want to become and the kind of influence you want to have in your world.

Creativity: This is the art of materializing our thoughts. It is giving life and shape to our imagination. This is where most people fall short. The dreams and visions are inside, but nothing else has been done. Many give the excuse of not having anyone to help them, while others complain that they do not have what is required to actualize it. The truth is that whatever you can conceive and believe, you can certainly achieve. Quit thinking of what you do not have and start finding out how you can use what you have to get what you need. Robert G. Allen, author of ‘Nothing Down’, is an example of a man that created wealth from real estate with nothing down. It is all about creativity. We often times wait for necessity to birth inventions and innovations in us. The potential for that innovation has always been there, we just did not see it. You were created to create. What have you created?

I once heard that the greatest inventors and achievers in this world hardly used up to 15 percent of the capacity of their brain. Make up your mind to work your brain until it ‘sweats’. It is the hardest work in the world which many avoid. Choose to maximize the potentials of your brain and unlock the wealth in your mind.

You are welcome.

Education is light. It gives a broader and deeper perspective about issues and helps to broaden and re-orient the mind. The effect of education also becomes evident overtime as the difference between the educated and uneducated mind begins to show in attitude, actions and ultimately results. It is for this reason that many go to school to acquire knowledge and skills to become better persons.

Financial education is no less. While we learnt several subjects in school, this crucial knowledge that relates to our everyday life is missing. This is probably the reason why many school drop-outs still succeed, as the core of financial independence is not necessarily taught in school. Many struggle financially while others learn it by experience. Financial education helps you to avoid struggle and positions you for better financial achievements. Let us take a look at its importance.

1. Financial Audit: The first part of any journey is to know where you are. It is alarming that many people do not know how much they spend monthly. Little wonder why the expense always exceeds the income, leaving them in debt. Financial education helps you to do a proper audit of your income and expenses in other to know your present financial position.

2. Financial Goal: Imagine a football match without a goal post. The players will run around for ninety minutes without achieving a measurable result. The same applies to many people financially. Financial education helps you to set clear financial goals. This specifies where you want to be financially at different stages of your life.

3. Financial Plan: Goals are achieved through plans. They help you to know how to hit your target. Financial education shows you alternative routes through which you can achieve your goals. This could range from various financial management techniques to diverse streams of investment. In addition, it also helps you to do a periodic review and re-strategize.

4. Financial Discipline: While many people may be conversant with the above points, they still do not do them or fail to follow-through. This is because the crucial discipline required to achieve this is missing. This is where financial coaches or instructors are needed to provide the necessary support systems.

This is just an introduction into the many benefits of financial education. Finance is a crucial part of our everyday life, whether as individuals, family or business. This should not be left to chance or learnt by experience as it could be very costly. I believe it is high time you took your financial education to the next level and became a better manager of financial resources.