Debt Management (How to get out of debts and Debt Reduction )

Debt Management (How to get out of debts and Debt Reduction )

Having gone through the concept of debt management as well as some of the causes of debt we can now take a look at some of the possible ways of debt management (how to get out of debts and debt reduction ). Debt management (how to get out of debts and debt reduction )  is tied to so many factors ranging from physical, spiritual,

Causes of Debts

Causes of  Debts

Previously we I shared with you the concept of debt management and I concluded by saying that “understanding the concept of debt management is imperative to be debt free”. Having concluded that let us now consider this: what causes debt?

It is no news that the best way to solve a problem is to first identify what causes the

Concept of Debt Management.

 Concept of  Debt Management.

The fortunes of life lies in the hands of only those who make preparation to manage them judiciosly. It is my popular quote that “honour is a product of labour, favour or both” and my conclusion about that quote has always been “whichever way honour comes (labour, favour or both) you should  position yourself to grab it”.

Four Reasons Why You Must Save to Invest Wisely

Four Reasons Why You Must Save to Invest Wisely

Welcome once again! I hope you are fine that is why you are here to read this. This is another opportunity for me to share something new with you. If you are a committed reader then let’s quickly have a recap of what I shared with you. Last time I shared with you the reason why investment is better than working. In that article I made you to

The Reason Why Investment is Better Than Working

The Reason Why Investment is Better Than Working

For some time now I have been sharing with you about the “concept of wealth creation”. In that case I highlighted 18 rules of wealth creation such that if

Wealth creation – Rule 18 (Learn from the Experience of Those Ahead of you)

Wealth creation – Rule 18 (Learn from the Experience of Those

Ahead of you)

If you must create wealth then you should learn from the experience of those ahead of  you. Have you ever wondered why some jobs require that you have a work experience  before accepting  your applications? It is simple. They believe if

Wealth Creation – Rule 17 (Confidence and Competence)

Wealth Creation – Rule 17 (Confidence and Competence)

If you must create wealth then you should have confidence and competence.

No man goes to the war unarmed  otherwise he wants to be harmed. Confidence is the act of feeling sure about your own ability  to do things and be successful while competence on the otherhand is having enough skill or knowledge to do

Wealth creation – Rule 16 (Take Risks)

Wealth creation – Rule 16 (Take Risks)

If you must create wealth then you should endaavour to take risks.

There is what business practitioners  call trading with people’s  money. Ideas has the power of making you wealthy only  if you are prepared to take risks. Before you venture into taking risk, I will advise you to make your due research. Most

Wealth Creation-Rule 15 (Crave to be Financially Free)

Wealth Creation-Rule 15 (Crave to be Financially Free)

If you must create wealth then you should crave to be financially free. Hunger and thirst can only be quenched when food and water are provided respectively. Your desire to create wealth is a necessary key to be financially free. Not until you have that hunger, thirst and desire for wealth your life becomes stagnant. Financial freedom is not something that

Wealth Creation –Rule 14(Patience, Persistence and Consistence)

Wealth Creation –Rule 14(Patience, Persistence Consistence)

If you must create wealth then you should put patience, persistence and consistence to work. Nothing good comes easy so don’t be in a rush. When you become too anxious of wealth creation without being patient, persistent and consistent

Wealth Creation –Rule 13 (Envisage the Future)

Wealth Creation –Rule 13 (Envisage the Future)

  If you must create wealth then you should envisage the future. Consider and pay special attention to what t wealth you want to create in the future. Any man who lives only for today without  clear  visions and dreams for tomorrow and

Wealth Creation – Rule 12 (Allow your Investment to Mature)

Wealth Creation – Rule 12 (Allow your Investment to Mature)

If you must create wealth you should allow your investment to mature.

One important characteristic of living things is growth. Wealth creation obeys this principle of  growth. It is not enough for your investment to grow but rather allow them to grow to maturity. How will you feel when you take a fruit that seems

Wealth Creation- Rule 11 ( Investment Diversification)

Wealth Creation- Rule 11 ( Investment Diversification)

If  you must create wealth then you should diversify your investment.

Just as innovation is important in business expansion so also is investment diversification important in wealth creation. For the fact that a particular business  is booming at a particular period  of time, that does not mean hard times will never surface.

Wealth Creation – Rule 10 (Apprenticeship)

Wealth Creation – Rule 10 (Apprenticeship)

If you must create wealth then you should be an apprentice.

To start with, an apprentice is some one who works for an employer for an agreed period of time in order to  learn the particular skills needed in doing their job.

Wealth Creation – Rule 9 (Plough Back Profit)

Wealth Creation – Rule 9 (Plough Back Profit)

If your must create wealth then you should plough back your profit.

To plough back your profit into your business simply means to reinvest your profit into your business in order to improve  it. The purpose of ploughing back your profit is to encourage business expansion. It is an error for you to squander your

Wealth Creation – Rule 8 (Invest your Savings with Discretion)

Wealth Creation – Rule 8 (Invest your Savings with Discretion)

If you must create wealth then you should invest your savings with discretion.

Sometimes it is not just all about savings. A man who lacks discreet saving investment plans will perpetually live in poverty. It is not just about planning but planning wisely. Great business empires in the world today started because their

Wealth Creation – Rule 7 (Avoid Unnecessary Competition and Impression)

Wealth Creation – Rule 7 (Avoid Unnecessary Competition and  Impression)

If you must create wealth then you should avoid unnecessary competition and impression.

Competition is a situation in which people or organizations try to be more successful or better than others. Competition can be helpful sometimes but when you are incapable of doing it the healthy way then be sure to hit a rock. Never try to

Wealth creation – Rule 6 (Balance your Savings and Spendings)

Wealth creation – Rule 6 (Balance your Savings and Spendings)

If you must create wealth then you should balance your savings and spending.

One day while I outside my house amidst  my neighbours I heard one of them saying that the money you will need to execute a big project cannot be gotten by savings. I just smiled at his ignorance  because  that was his believe. There is the

Wealth creation – Rule 5 (Be a Problem Solver)

Wealth creation – Rule 5 (Be a Problem Solver)

If  you must create wealth then you should be a problem solver.

The economist asserts that human needs are insatiable(unsatisfiable) despite the fact that the resources are limited in supply. A person that wants to create wealth should be able to identify the problem in his environment (i.e identification

Wealth creation – Rule 4 (Optimism)

Wealth creation – Rule 4 (Optimism)

If you must create wealth then you should be optimistic. An optimist is someone who always expects good things to happen or things to be successful. An optimist sees positivities where others (pessimists) see negativities. He has the