The following contents you are about to see was extracted from the DOWOB 2021 programme.
The lecture for the day 1, was delivered by Mr. Oluwashola Abiola Elisha and the topic of the programme was tagged “Financial Freedom”.
What is financial freedom? What does it even me to be financially free? What is finance itself? And what is freedom?
Finance simply put is the management of money or better still, the science of management of money and other assets.
Having financial freedom has more to do with understanding and following the rules that guide money than making money itself
It is possible for you to be earning six figures and still be in financial bondage. YES!!!!!
Little wonder it is very possible to have two neighbors hustling and both earning the same figures but one is free financially while the other is in bondage.
And so, one is forced to ask the question, what are the rules that guide money? We are going there
Freedom on the other hand means the state of being free
Of not being imprisoned or enslaved, not constraint and not in bondage of any kind.
Ironically and sadly, no freedom comes on a platter of gold!
Freedom is not given….know that and know peace.
It is earned either forcefully or peacefully but surely, it never comes on a platter of gold
It always come with struggles
There are five principles and rules guiding money which if not applied or wrongly applied may leave you in an eternal financial bondage, irespective of your religion and belief, the number one thing to do with money is giving it to God.
In the form of zakat/tithe
This is to tell you that you put God first in everything that you do
After giving of tithe, another thing you do with money is;
SAVE it is always good to save because of unforseen circumstances which no man can predict.
Next is, INVEST!
Finding a qualitative thing to invest in is a very technical issue, but it is always a good thing to invest
However, contrary to the popular notion about investment, investing does not necessarily have to do with putting in something that will bring money back to you
You can as well invest in things that will give you comfort, happiness and a better future.
cultivate the habit of lending people money but shines your eyes on the kind of people you will lend money as humans can be funny with promises.
Spending should be the last thing you do with money if you really want to be financially free, going by our above definitions.
It is the only thing that takes away money from you without returning it back to you most times
To be really financially free, aside following the rules above…..
Please on a last note as time will not permit
Commit yourself to living within your means, the path to financial freedom begins by developing a mindset in which you prioritize building a financial foundation of saving before you move on to spending and even investing
Get yourself a soft couch to fall on in the days of trouble.
Learn to spend less than you earn not more than you earn.
The key points are:
1. Give to God
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