Education: from millionaire to billionaire they say that education is the best investment you can make. Invest in your knowledge, skills and performance, in order to earn more, because you can bring more value to the marketplace. Skills and knowledge cannot be taken from you.
Houses: For many, a house is the biggest expense of their lifetimes. Ever thought of how much you really pay for a home when after factoring in interest and taxes and other fees and maintenance? Invest and let your investments pay for your own home. Don’t sacrifice your ability to invest for a home that is a burden as soon as you get those keys.
Cars: Cars are easily one of the top two or three things that keep Americans broke. Many find it inconceivable not to be driving the most expensive car they can possibly get a loan or lease for. For such people, a big portion of their monthly income goes into an depreciating asset. Buy a new car, and you are instantly throwing away half of the money on the price tag. How about waiting until you have already invested, so that the money will be coming from passive income from investments?
Friends: Trim unnecessary friends and you will have less outings, meaningful visits, more beneficial engagements and bills to pay.
In conclusion, it is worth noting that the number one reason people the world over, especially South Africa are broke is simply because they are spenders first. Those who are not broke invest first. Always ask … to purchase or to invest?
Find more tips in my book “Proven habits for financial freedom”. Enjoy the tips and get rich fast.
By Victorine Mbong Shu.
Victorine is in education and training since 2002. She is the CEO of Profounder Intelligence Management Services, an Authority Coach, a Publisher, Editor, Researcher, Transformational Speaker, Mentor, Material Developer, Facilitator, Assessor, Moderator and TV Talk Show Host at Children Television South Africa (CTVSA). She is the owner of Profound Conference Centre in Bramley-JHB. She and Dr. Fru are raising 4 bubbly children, including Africa’s youngest multiple award-winning author of chapter books, Stacey Fru. Victorine is a respectable Involved Parenting Conversationalist with a Master’s Degree in Communications. She is a BrandSA Ambassador and Awards Winning Author of the following books:
- ‘Stop Complaining! and Bring Back Involved Parenting,’
- ‘Trapped in our shadows,’
- ‘Proven habits for financial freedom,’
- ‘Not too late: Stop Complaining and Bring Back Involved Parenting.’