FINANCIAL LITERACY & PERSONAL DEVELOPMENT

 With adequate finances we can be sure to achieve our set goals. One of the biggest regrets any working professional can face is to work hard and not achieve their set financial goals. The question is, why is it that there are employees that earn twice as much as other employees and what can be done to reverse this situation? The focus of this article is no the belief system of the working professional. As I write this article there is a particular employee who has already set a goal of improving their financial circumstances. However in the same scenario there is an employee who is focused on all reasons why their financial situation can not improve. It is called self sabotage. In this new year we need to develop a generation of working professionals who do not focus on limitations but rather focus on the enormous potential to widen their income base. In Think and Grow Rich , Napoleon Hill points out that everything is created twice. First in the mind and then in reality. This mea...

 It is the desire of every working professional to diversify and multiply their income. I have been fortunate to listen to a number of discussions on how to widen the income base of working professionals. It is important to describe a budget and how it can aid any working professional in making better financial decisions. A budget is a summary of estimated income and how it will be spent over a period for example a week or month. A budget helps in easing decision making and encourages cautious spending. A budget also encourages discipline in savings and if followed helps a working professional to meet their financial goals. In a nation where over 70% of the population is below 30 years, it is a common trait to see many working professionals living beyond their means. Many do not track their spending and wonder why they live in financial shortage. I witnessed a young working professional who noted that he did not need to plan for his money because death was inevitable. It is importa...