Family Finance: Kind of Living

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Family Finance: Kind of Living

Family Finance: Kind of Living

– Bisi Adewale

– Living Above Your Means:
Living above your means will make your life to be at grade D of life. This involves buying things on credit, heavy usage of credit cards, borrowing, instalmental payments and hire purchases.
It involves buying what you cannot readily afford now by buying it on credit or getting loan or borrowing to buy them. Can you imagine a man whose car is on hire purchase, it is called loan purchase so as to deceive us, he has to pay bank every month to cover that. Part of his salary is servicing the loan he took in the office, his shoes, shirts, suits, wrist watches, and may be underwears were all purchased on credit and part of his salary must service that every month. No matter the amount of salary he may be earned, it will never be sufficient for him. This is what I call modern day slavery. I was in a church for ministration recently; I wanted to pray for people in debt. Hence, I asked them to raise their hands, it was shocking! More than 90% of the people present, including the pastor and his wife were in debt. You can’t go far in life if you have the habit of living above your means.

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– Living Within Your Means:
This is good but not the best as it only breed life of mediocrity, (Grade M).
It means you are always broke shortly before the month end. Though, you don’t borrow, you are not in debt, all your bills, fares and fees are paid as at when due but you don’t have a single penny saving, no investment, property, or assets. This will only make you to live a life of mediocre, living without making any impact or touching anybody’s life positively. With this kind of living; your future is not secure. You may never become a landlord, your children may not go to the best school and you cannot enjoy the best of life.
– Living Below Your Means:
This involve living in such a way that your monthly expenditure monthly is lower than your income; this is not a product of how much you earn but of how discipline you are. The truth is; there is no amount of money you make monthly that is enough until you discipline yourself. Without discipline; financial rest will always be a mirage.

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Saving money is not a product of the level of your income but that of saving culture, an habit you deliberate develop overtime by learning to postpone pleasure and fun so as to lay a solid foundation for the future.

Bisi Adewale is a family expert and president of college of marital success, He is an international conference speaker and an author of more than 52 books on marriage and family life, singles, love, sex and purity and intimacy. He is the host of family T.V. program called Family Booster Moments.

Get daily lesson and teaching and articles from his blog: bisiadewale.com and You can also get his resources and also send an mail to familybooster01@yahoo.com. for any counselling issue. Visit http://www.bisiadewale.com for daily updating!

Family Finance: Kind of Living