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The good kind of money ritual by Oyedamola Taiwo






The “BENZ” thread has got twitter laughing and ladies shivering, for me, I like to pick out the best lessons from the worst case scenario. If you grew up in Nigeria, I am sure you have at one time sat to watch a movie involving money rituals, especially Yoruba movies. Let’s do a quick review for readers who digested food from a spoon made from something better than silver. In most of these movies, a suffering, frustrated character seeking a way out of the vicious cycle of poverty is shown. The character meets with a diviner who recommend a ritual that involves parting with something of value, like family member, 10 virgins and other ridiculous demands. The pauper accepts, he becomes rich, he is then informed on the wealth sustaining ritual to ensure he doesn’t lose his wealth. However, those movies end with the pauper dying early.
I am not here to publicize Nollywood movies but to introduce you to a ritual that guarantees you a wealthy existence without parting with your loved ones or any other devious means. Wealth making is principle based, once you fulfil the requirement, just like the movie illustration, you will get it right. This post is target towards young income earners who have dreams to build empires.
The journey may be quite far from where you are now, the sad news I have is that there are no short cuts but it becomes achievable as soon as you get initiated into the ritual. I will start with the Don’ts, proceed to the Dos and end with the maintenance strategy.
The Don’ts of the ritual;
·         Don’t Pursue Luxury goods at the early stage: There is always a temptation to upgrade when you are exposed to an amount that looks huge to you. The Gucci products become all of a sudden indispensable and everything that looks nice becomes irresistible. For someone who wants to build an empire, you must be ready to make sacrifices. If you spend a high percentage of your income on luxuries that will only diminish in value, then you are not ready for this. For this ritual, you need to take note of your basic requirement for existence in terms of your career, survival and association. Consider the functionality and not the luxury, that you don’t have some luxury goods now is not an indication of eternal denial, it is just a differed usage.
·         Don’t be a Passive Earner/ Spender: So many workers, as weird as thisseems only know the value of their aggregate salary. Only few take the painto keep tabs on the deductions from the office and other financial commitments. The fear of the knowledge of being broke keeps many from monitoring their income and expense. Any activity that slides from appropriate attention is bound to hit the rock. If your plan hits the rock, then the dream of an empire will crash before its foundation gets laid.


The Dos.
·         Pursue Early Financial Sustainability: this is one point that contains many. However, I will sum up the ritual into this one point. As a young earner, you have less responsibilities compared to a family man/woman. This implies an income space to build wealth. The fact that you have free money is not a reason to throw it at an any item. Money is used to chase more money, in technical terms, we call it investment. Your thought should, at this time,not revolve around gathering luxury that will only depreciate to nothing or gulp maintenance expenditure. Rather, you should pay attention to investments that can impress a multiplier effect on your income. Diversify into businesses, save, explore the stock market and invest in your skills. The more seeds you scatter on a field, the richer your harvest. Expand your income base and "wealthy" will be an understatement to describe you.
Conclusion;
Sowing seeds is not enough, you have to monitor the growth, water it, weed the environment and purchase pesticides if you want to secure your harvest. Your monetary investments require your full involvement in monitoring it, considering the risks and looking out for viable investment platforms. Don’t be greedy for the short cuts, Ponzi schemes cannot get you an empire, the ultimate plan is to take from you. To sustain your wealth? Keep investing!

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