Nairaland

fpeter:



Last year,I saw a colleague of mine doing something that jolted me to reality. This babe writes down he needs for the month down to the cost of her transportation, tithe, feeding, electricity bills etc and miscellaneous. I have never made plans like that before, I decided to try it out this years.

Just start from today. Start by keeping record of what you spend then by next month you will be able to project a budget

HungerBAD:
Giving too much can bring you down.

Forget the bible verse that says God loves a shareful giver.

Not happening again.

Givers never lack

drinking sef de take money o....even if na ogogoro

AfonjasMustDie:

Everything in your list is correct except "Having only one source of income"

I just accessed you with that dumb comment

My uncle only had one source of income which was exporting palm oil and he was rich as fucck

I followed his footsteps too

Now, mention any rich person that has more than 1 source of income, I'm waiting

I was about to call him out on that as well.

The secret to managing your finances is simple this: the discipline to live below your means. When you do this you will have enough to live on and save enough to invest, without acquiring debt.

hahn:


Just start from today. Start by keeping record of what you spend then by next month you will be able to project a budget

Thank you so much.

HungerBAD:
Giving too much can bring you down.

Forget the bible verse that says God loves a shareful giver.

Not happening again.

Do u rili know the meaning of Cheerful giver Giving with a free mind not reckless give because u hv. Hmm mind the way u talk abt the word of God. I know u are a Christian.

SmartyPants:


I was about to call him out on that as well.

The secret to managing your finances is simple this: the discipline to live below your means. When you do this you will have enough to live on and save enough to invest, without acquiring debt.

Funny how you are agreeing with the OP while trying to disagree. Investing is in itself creating a different income stream.
Also, simply "having the discipline to live below your means" will not uplift one financially. A bachelor earning 40k a month could very well live within his means frugally and even save a little. But then he decides to get married and realizes this discipline might not work so well with a family.

Stinginess

danthamccoy:

Funny how you are agreeing with the OP while trying to disagree. Investing is in itself creating a different income stream.
Also, simply "having the discipline to live below your means" will not uplift one financially. A bachelor earning 40k a month could very well live within his means frugally and even save a little. But then he decides to get married and realizes this discipline might not work so well with a family.

Take your time to understand my post. I disagreed about the need for 4 income streams which seems like a rather arbitrary number, not about the need to invest!

My post was crystal clear, living below means leads to having cash to invest. Is that not what i said?

HungerBAD:
Giving too much can bring you down.

Forget the bible verse that says God loves a shareful giver.

Not happening again.

#cheerfullgivers if you are not giving it cheerfully then its not according to bible principles so blessing attached. Note that

ssolaoye:
Stay Organised - Manage your business, clients and invoices from a single application. Your records are accessible on any device, anywhere.

https://invoice.ng

How does this work?

HungerBAD:
Giving too much can bring you down.

Forget the bible verse that says God loves a shareful giver.

Not happening again.

See misinterpretation.

A cheerful giver is the one that give from the abundance

He gives not because he was force to give

He give from his heart

bjhaid:
Givers never lack

Stupid givers do lack.
Give with wisdom. A lot of people with ideas that should build businesses and eventually liberate people around them never made it in life by giving stupidly. Don't give out money meant to actualize your investment ideas unless we are talking of a life and death situation. Don't let visionless people derail you by taking advantage of your generosity to fund their vanities and even end up making fun of you. When you become truly wealthy you can easily make others with vision wealthy.

OP, you made some good points. And I will add the following:

1. Spending more than you're making....
2. Marrying a spendthrift - that is, marrying someone who's in the squandering/spending committee
3. Eating out every day
4. Women



O pari

sexaddict08:
Debt !
Debt !!
Debt !!!

my people fear debt.
fear loan ...
instead of debt, have savings and don't live above what u earn.

is borrowing money to do business also bad pls I want to know

AfonjasMustDie
SmartyPants

You are both right. But this is it. When we talk of multiple income stream most people think of physically being present but that is not it. For instance, my former boss is a civil servant (income stream 1) buy he also had 2 cars he gave for higher purchase (income stream 2), also had a fish farm (income stream 3), and one online business (income stream 4). So it is not necessary you are in physically there. That is even practically impossible. And it is easier these days to have multiple income stream because of the technological advancement. And to the case of rich men having one income stream, I disagree with you. We all know Dangote owns cement factory, has Dangote flour, spaghetti etc. Forget the popular business we see them do, they have another gig which might not be known (legal businesses o).

baakus:
is borrowing money to do business also bad pls I want to know

Robert Kiyosaki said there is bad debt and good debt also know as leverage. If you borrow money to build house you would rent out, it is good leverage even bank will encourage you. Use money to start business, good leverage.

HungerBAD:
Giving too much can bring you down.

Forget the bible verse that says God loves a shareful giver.

Not happening again.

it is good to give, But one needs to have a good motive and also be wise in giving...

Kazrem:

Robert Kiyosaki said there is bad debt and good debt also know as leverage. If you borrow money to build house you would rent out, it is good leverage even bank will encourage you. Use money to start business, good leverage.

HungerBAD:
Giving too much can bring you down.

Forget the bible verse that says God loves a shareful giver.

Not happening again.

it is good to give, But one needs to have a good motive and also be wise in giving...

cc: hahn Cavenchy waleadex AfonjasMustDie

Some ways to have and maintain multiple income sources:

1) Having good manner of approach. Example: being careful not to use insulting or rude language just because you misunderstand someone or think they are less knowledgeable or that their information is wrong. This makes it possible to market your values without sounding offensive and you will gain a wider and loyal audience.

2) Power of concentrated forces. This is your business' ability to service a big market that covers the need for different income methods. Example: (A)You supply large quantities of your products to a company. (B) You sell the same product to "numerous" customers who quickly consume your entire stock (C) You are situated at a strategic location like in a big market prompting quick and huge sales/profit e.t.c.

(3) Availability on multiple platforms. Example: A newspaper that is available on print, online and mobile app.

(4) Diversification. Example: Dangote is into flour, tech, cement, agric, real estate e.t.c. Apple, Google and Microsoft are into Hardware manufacturing, Mobile and Desktop Operating system and office applications, Email services, Online storage, Internet and System Security e.t.c.

Noted!

jmichael259:
cc: hahn Cavenchy waleadex AfonjasMustDie

Some ways to have and maintain multiple income sources:

1) Having good manner of approach. Example: being careful not to use insulting or rude language just because you misunderstand someone or think they are less knowledgeable or that their information is wrong. This makes it possible to market your values without sounding offensive and you will gain a wider and loyal audience.

2) Power of concentrated forces. This is your business' ability to service a big market that covers the need for different income methods. Example: (A)You supply large quantities of your products to a company. (B) You sell the same product to "numerous" customers who quickly consume your entire stock (C) You are situated at a strategic location like in a big market prompting quick and huge sales/profit e.t.c.

(3) Availability on multiple platforms. Example: A newspaper that is available on print, online and mobile app.

(4) Diversification. Example: Dangote is into flour, tech, cement, agric, real estate e.t.c. Apple, Google and Microsoft are into Hardware manufacturing, Mobile and Desktop Operating system and office applications, Email services, Online storage, Internet and System Security e.t.c.

Honestly multiple sources of income are really working for me. I recommend the idea firmly....#smiles#

baakus:
is borrowing money to do business also bad pls I want to know

it is a risk worth taking if its for business but be prepared for any eventualities. the business you trust so much can still fail. its 50/50

AfonjasMustDie:

Everything in your list is correct except "Having only one source of income"

I just accessed you with that dumb comment

My uncle only had one source of income which was exporting palm oil and he was rich as fucck

I followed his footsteps too

Now, mention any rich person that has more than 1 source of income, I'm waiting

How I wish you can enlight me more about palm oil exportation?

obamabinladen:
.

Lol....so true

http://www.tinyqualityhomes.org/tiny-house-video-tour-2017-young-couples-dream-tiny-house/

wunmi590:
If by Monday our president is not back, they should declare Tuesday and Wednesday public holidays so that all of us will go and look for our president. Our president can't go to London and be missing like that.... Let them open boarder, we all go to London and look for him....

Only in this country Nigeria ,
It started from:
Missing Chibok girls!.....
Missing Certificate!...
Missing Budget!....
Missing Moon!....
And now,.. Huh,.
Missing President!!...

wot of missing satellite
missing ship

AfonjasMustProsper:

Everything in your list is correct except "Having only one source of income"

I just accessed you with that dumb comment

My uncle only had one source of income which was exporting palm oil and he was rich as fucck

I followed his footsteps too

Now, mention any rich person that has more than 1 source of income, I'm waiting

I concur!

HungerBAD:
Giving too much can bring you down.
Forget the bible verse that says God loves a shareful giver.
Not happening again.

Fallacy.

nice compilation

AfonjasMustProsper:

Everything in your list is correct except "Having only one source of income"

I just accessed you with that dumb comment

My uncle only had one source of income which was exporting palm oil and he was rich as fucck

I followed his footsteps too

Now, mention any rich person that has more than 1 source of income, I'm waiting

bill gates, dangote, atiku, donald trump they all have multiple income sources. THAT YOU AND YOUR UNCLE ARE SUCCEEDING NOW DOES NOT MEAN THE OP IS WRONG. Multiple income sources could mean having more than one branch, supplying to two or more clients, having a side gig or investing in diff sectors.