Family Finance – Four Currency of Life Pt 2

-Bisi Adewale

1.Governmental Currency- Also included in your income is the governmental currency, you are not permitted to spend it, and they call it ‘tax’. Government is very wise, they do remove their portion before they pay you your own, they call it, ‘Pay-as-you-earn (PAYE). They never trust us that we will remember to pay after collecting our salary, hence they wisely remove their own before they give you yours. But for self-employed, business owners, entrepreneurs, companies and organization; you are expected to pay personal income tax or company income tax. Many people and organization runs into trouble for refusing to pay taxes and rates. You can avoid these unnecessary troubles by paying your tax in full and as at when due.

2. Life Currency- This is the part of your income that you save, keep and invest it, it’s your real money, your life currency. The higher your ‘life currency’ the better and secure your future, the lower it is the greater your misery tomorrow. When you look at our retiree today, you will feel sorry for them, it is easy to blame the government for not paying their pension. The truth is, how much pension is, people that are collecting salary are complaining, talk less of people that are collecting stipends as pension. Most Nigerians normally ignore the ‘life currency’ of money, 100% of many goes for the ‘societal currency’ most do become broke before 18th of the month, “My salary is small”, No! What is small is your financial intelligence and you also lack saving culture and discipline to prepare for your future. The truth is no salary is big enough to spark the desire to save. What bigger salary does is to increase your DTBMM (Desire to Buy More and More). As your DTBMM increases your DTSMM (Desire to Save More and More) decreases. Most people are having less than zero DTSMM, but have DTBMM.

If you don’t deliberately increase your DTSNN, your future is in danger your destroy is not secured, am not a prophet of doom, but base on facts on ground and happenings in the life of people with high DTBMM, I know that the future is not brought.

To save your future and the future of your family members, you need to deal with your great desire to spend and buy and create a saving culture couple with investment culture.

Your employer is not really preparing for your future; gravity will not profit your destiny, pay yourself now, and increase your life currency; which is your own currency.

It is only money that belongs to you in your income; don’t make the mistake to waste it.

Bisi Adewale is a family expert and president of college of marital success, an international conference speaker, author of more than 40 books on marriage and family life, host of family T.V. program called Family Booster Moments . E-mail : familybooster@yahoo.com