due…

Better late than never…

I have 2 posts due. Actually one is overdue and was to run last Saturday; the other is scheduled for tomorrow. I am not sure the night can redeem this situation – I have writing targets – but better late than never.

You know what though – writing is not a walk in the park. Attempting to write about money matters is even harder. It gets worse because my writing style is personal and I literally must wear my heart on my sleeve. That’s how writers start – they say – from giving their personal accounts.

Recently, though, I felt a little redeemed when I discovered financial literacy is part of life skills development. Why? Life skills help individuals deal effectively with the demands and challenges of everyday life. See Wikipedia. This means that they are able to positively handle situations of loss or windfall*.

And before I move to my next posts on savings – which will be dealing with ‘gain’ – let me recap my last four posts in which were all in the direction of managing expenditure. KINDLE is about feeding our minds with content that will push us to handling money well. SPACES gives a lay understanding of both financial stress and financial freedom. LIVE RICH – is a beautiful clip which continues to help refocus and return me to the path each time I veer off. GENIUS well is just about that 🙂

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* Windfall – a large amount of money that is won or received unexpectedly

genius…

That’s where it all begins. From within…

One of my heaviest expenses – besides rent – is food. I am a picky eater. I prefer to cook my own food but because I rarely get time to do that, I takeout. I cannot even begin to tell you how expensive an affair that has been. And for years I have struggled to get into a healthier regime but nothing beats habit. On the other extreme is my hair. I have tried to care for it for the longest time ever but gave up on it. Bad hair is just that bad hair and like one’s nose (save for plastic surgery), there’s very little that can be done to change it.

The other day, however, I checked into a new salon. A little expensive but I had no option as it was the only establishment opening late that Sunday. “I have weak hair…” I lamented as the salonist waded through my 6-month growth. “You have fine hair… Not weak hair…” “Fine???” This was the first time in my 30-sum life that my mane was being regarded as fine. “It’s your hair texture type…” He explained and further gave details on the different types of hair African women are endowed with. “The harm occurs when wrong products are used

You should see my hair now! It doesn’t resemble Rapunzel’s but it’s no longer the old ball of gray sewing thread it was. I’ve been moisturizing it religiously but do you know what the bigger secret is? Spinach! And I have been gutting down loads of it because Mr. Expert assured me of a miracle. “No amount of hair products will change anything if you don’t eat well. That’s where it all begins…

Like said, the salon is a little expensive but I a more than willing to invest in this life-giving expense not just because I love my new look but ‘dieting‘ has never felt easier! Who would have thought that Mr. Hair Guy would be the one to change course of my bad eating habits. Investing in an expert is always a worthwhile cause and I can assure you will always leave inspired to perspire 🙂 and that my friends is what Thomas Edison calls GENIUS!

spaces…

Though we stay a little longer in this space than desired, time affords us extra resources…

Profit or Surplus is a variable of Income and Expenses and so is Loss or Deficit. Let’s visualize the math…

2 – 2 = 0          EVEN / enough

2 – 1 = 1           SURPLUS / saving

2 – 3 = (1)       DEFICIT / debt

In the EVEN space, one’s income or salary for that matter is enough to cater for the month’s expenses until the next. Majority of us start from here and it is a good place to begin. And though we stay a little longer in this space than desired, time affords us extra resources from a promotion, a business idea or synergies in marriage. Trouble sets in when our income fails to grow in equal proportion with our expenditure. Increasing family needs, life emergencies and the ever rising inflation are some of the things that can change the quality of our lives by throwing us into the DEFICIT space.

DEFICIT is where one’s expenses exceed income. To deal with this space, we must borrow. However, these borrowings if not managed well may throw us in a space of perpetual DEFICIT or debt as it is more commonly referred to. The good thing about spaces is you can move out of them even if it means squeezing self through the eye of a needle. Of course the SURPLUS space is most ideal but always seems unachievable. BUT if it is possible for others, why not us?

I tend to think these others seek additional revenue streams to the extent that one stream is able to cater for all family expenses and the rest is left to more profitable investments. Then there are those who may just have a single stream of income but manage their expenses in a way that does not exceed their income. I reckon they set percentages which they strive to survive on. They come up with creative ways of minimizing their expenditure and perhaps only eat out once a month. They seek bargains from flea markets and have no problem riding the bus.

Both who seek the increasing income and the reducing expenditure make sure they save. Not once but regularly. They are not interested in get-rich-quick schemes but take well calculated risks. Of course they are oblivious of life and are aware that DEFICIT and EVENness are all part of the SURPLUS journey. So help us God! So help us God…