Extra income and Life changing Business

07/02/2024

Many people struggle with knowing how to sort out their financial priorities.

Allow me to simplify.

First, know the two main types of future events:

1. Unpredictable Future Events
2. Predictable Future Events

Next, prepare for Unpredictable Events:

1. Emergency Funds: Start by saving 3 to 6 months' worth of your essential expenses. This is your safety net for unexpected situations like job loss or medical emergencies.

2. Protection: Ensure you have term life insurance that includes Critical Illness & Total Disability Cover, a home or renter’s insurance, medical insurance aaaaand pet insurance (I know you love your pets). Insurance protects you and your loved ones from financial strain during difficult times.

Then, plan for Predictable Events:

1. Pension: Regularly set aside at least 5% to 10% of your income for your pension. There is no mandatory pension scheme for UAE expats yet, so funding your own pension through low-cost global ETF’s can serve as an alternative way for you to invest for retirement.

As much as possible...

❗AVOID SAVINGS PROGRAMS being sold in the market.

2. Expected Expenses: Plan for the next 12 months. This includes rent renewal, insurance renewal, annual phone bills, and property tax. Being prepared means no surprises.

3. Short-Term Savings: Save for goals you want to achieve in the next 2 to 3 years, like travel or buying a new gadget. This keeps you motivated and financially disciplined. Put your cash in a high-yield savings account!

4. Invest for the Future:

→ Medium-Term Goals (3 to 10 Years): Save for significant purchases, such as a house or car down payment. This requires a dedicated saving strategy.

→ Long-Term Goals (Beyond 10 Years): Focus on your child’s college fund and retirement. These are critical goals that demand early and consistent investment.

Understanding this hierarchy helps you prioritize your financial activities based on the nature of future events.

25/09/2022

𝟎𝟕 𝐏𝐨𝐰𝐞𝐫𝐟𝐮𝐥 𝐋𝐞𝐬𝐬𝐨𝐧𝐬 𝐅𝐫𝐨𝐦 𝐓𝐡𝐞 𝐁𝐨𝐨𝐤 "𝐓𝐡𝐞 𝐑𝐢𝐜𝐡𝐞𝐬𝐭 𝐌𝐚𝐧 𝐢𝐧 𝐁𝐚𝐛𝐲𝐥𝐨𝐧"

𝟏. 𝐏𝐚𝐲 𝐲𝐨𝐮𝐫𝐬𝐞𝐥𝐟 𝐟𝐢𝐫𝐬𝐭 𝐰𝐢𝐭𝐡 𝟏𝟎% 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐢𝐧𝐜𝐨𝐦𝐞.
You will adjust your budget to fit your means within the other 90%.

2. Control unnecessary expenses by controlling your desires.

Desires grow when there is a chance of them being fulfilled. Study your habits and eliminate any unnecessary expenses.

3. Make your money work for you by investing your savings.

Invest the profit from your investments to grow your wealth even quicker.

4. Make safe investment decisions to prevent financial ruin. Your money can't work for you if you lose it.

Do your best to never lose money.

5. Own a home if it means you can save on rent.

If you can rent out rooms to lower your living expenses, do it.

6. There will be a day where you can no longer work and earn.

Prepare for retirement from an early age. The earlier, the better.

7. Increase your ability to earn more money by amassing skills.

It is the burden of all men to gain the confidence needed to achieve his desires.

07/07/2022

Fear of missing out (FOMO)

When you view the world through social media’s lens it can feel like everyone is wearing the most expensive activewear brands, driving the nicest cars, and winning and dining on a regular basis. Remember, social media is a highlight reel.

06/07/2022

"According to Psychologists, there are four types of Intelligence:

1) Intelligence Quotient (IQ)
2) Emotional Quotient (EQ)
3) Social Quotient (SQ)
4) Adversity Quotient (AQ)

1. Intelligence Quotient (IQ): this is the measure of your level of comprehension. You need IQ to solve maths, memorize things, and recall lessons.

2. Emotional Quotient (EQ): this is the measure of your ability to maintain peace with others, keep to time, be responsible, be honest, respect boundaries, be humble, genuine and considerate.

3. Social Quotient (SQ): this is the measure of your ability to build a network of friends and maintain it over a long period of time.

People that have higher EQ and SQ tend to go further in life than those with a high IQ but low EQ and SQ. Most schools capitalize on improving IQ levels while EQ and SQ are played down.

A man of high IQ can end up being employed by a man of high EQ and SQ even though he has an average IQ.

Your EQ represents your Character, while your SQ represents your Charisma. Give in to habits that will improve these three Qs, especially your EQ and SQ.

Now there is a 4th one, a new paradigm:

4. The Adversity Quotient (AQ): The measure of your ability to go through a rough patch in life, and come out of it without losing your mind.

When faced with troubles, AQ determines who will give up, who will abandon their family, and who will consider su***de.

Parents please expose your children to other areas of life than just Academics. They should adore manual labour (never use work as a form of punishment), Sports and Arts.

Develop their IQ, as well as their EQ, SQ and AQ. They should become multifaceted human beings able to do things independently of their parents.

Finally, do not prepare the road for your children. Prepare your children for the road."

(Copied status) but one that resonates with me.
Art by Chill Ro and Petfoolery.

05/07/2022

Thank you dear client for choosing me as your 𝗠𝘂𝘁𝘂𝗮𝗹 𝗙𝘂𝗻𝗱 𝗔𝗱𝘃𝗶𝘀𝗼𝗿! 😍

Why is it 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝘁𝗼 𝗜𝗡𝗩𝗘𝗦𝗧? 😃

𝙄𝙣𝙫𝙚𝙨𝙩𝙞𝙣𝙜...
1. 𝗚𝗲𝗻𝗲𝗿𝗮𝘁𝗲𝘀 𝗶𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻-𝗯𝗲𝗮𝘁𝗶𝗻𝗴 𝗿𝗲𝘁𝘂𝗿𝗻𝘀- your money increases in value

2. 𝗚𝗿𝗼𝘄𝘀 𝘆𝗼𝘂𝗿 𝘄𝗲𝗮𝗹𝘁𝗵 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗰𝗼𝗺𝗽𝗼𝘂𝗻𝗱𝗶𝗻𝗴 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 - especially for a long-term horizon

3. 𝗣𝗿𝗲𝗽𝗮𝗿𝗲𝘀 𝗳𝗼𝗿 𝗹𝗶𝗳𝗲'𝘀 𝗺𝗶𝗹𝗲𝘀𝘁𝗼𝗻𝗲𝘀- i.e. saving for a child's education fund, retirement fund, or buying a property.

Whatever your financial goals are, 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗵𝗲𝗹𝗽𝘀 𝘆𝗼𝘂𝗿 𝗵𝗮𝗿𝗱-𝗲𝗮𝗿𝗻𝗲𝗱 𝗺𝗼𝗻𝗲𝘆 𝘁𝗼 𝘄𝗼𝗿𝗸 𝗵𝗮𝗿𝗱 𝗳𝗼𝗿 𝘆𝗼𝘂. 😃

"The 𝗪𝗜𝗦𝗘 𝗺𝗮𝗻 𝗦𝗔𝗩𝗘𝗦 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗙𝗨𝗧𝗨𝗥𝗘, but the foolish man spends whatever he gets." (Proverbs 21:20)

24/06/2022

How you invest will ultimately dictate the quality of your future life.

22/06/2022

Determine How You Want to Live

Someone has once said that money is a good slave but a bad master. Money has a tendency of making people dependent on it, and make them forget that the ultimate source is God. There are people that look at money as their god, and when they don’t have it, they feel exposed. The only thing God said that it can compete with him in terms of worship is money.

Money should be looked at as a resource, not a source. It should not be looked at as something to depend on, but something we can use to achieve an end. When it becomes an end in itself it causes a lot of havoc. Many people have done atrocious things due to their obsession with money. Instead of looking at money as a means to an end. They have looked at money as the end and in doing so, money has made them do things that are evil.

If you don’t want money to be your master, determine how you want to live. Use money as your servant to help you achieve the goal of how you want to live. This will protect you from covetousness. You will not look at other people’s things and covet them. You will also not be wooed into chasing money for money's sake. Because you have determined how you want to live, money to you will be a tool and not an end in itself.

You need to determine your own lifestyle and use the money to facilitate that so that if there is anyone having more it won’t bother you because you have already set how you want to live. When you set your lifestyle target, now determine how much money will make that happen. When you get money, or when you pursue money, it will not be for money’s sake but for what you want it to do for you.

Other people have also pursued money because they want to help others. That is noble because then money becomes a tool to do good.
———-
“No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”
‭‭
Matthew‬ ‭6:24‬ ‭ESV

17/06/2022

31/05/2022

A reminder to everyone! ❤✨

31/05/2022

Job VS Assets

30/05/2022

The key to navigating modern life is in the balance of these three resources. Each one interacts with the other in a constant exchange.