Tuesday, September 29, 2009

6 M's of Money

Hello people,

sorry i have been MIA, i do not have an excuse but i can say i was just very busy with school and all. I am enjoying school a lot as i learn new things everyday and it is preparing me for my long term goals. God has betowed his favour on me and i am planning for a big trip which i pray i can accomplish, by the grace of God.
this are some notes i have gather from a popular journalist. enjoy and have a great week.

"6 Ms of Money".

The first and perhaps the most important "M" is called the mastery of Money Belief System.
This indicates an ingrained mind-set acquired from different sources which can prevent people from becoming wealthy. It is only by destroying all the limiting belief systems that real wealth can start to manifest. You have to be wealthy from your mind before you can start to experience wealth physically. At this stage, one must have a correct meaning of wealth. Most people think wealth means the Naira notes and coins we carry about. Wealth is measured from more than six dimensions and unless one appreciates all these, frustrations would come quickly in any investment adventure.

The second "M" has to do with making money.

This indicates specific actions and steps an individual can take to move from poverty or financial crisis to a level where he or she can meet his or her basic needs and beyond. You can work for other people and still be wealthy just as you can be on your own and still acquire lasting wealth. Each of these, however, requires different mind-sets and investment templates. For lasting wealth, the mastery of the correct belief system must take place before learning how to make money can make sense.

The third "M" has to do with managing money.

This indicates where an individual has acquired skills and tips to continually sustain an appreciable level of wealth and comfort commensurate with societal standards. Making money is not necessar- ily hard; the hard est part is ensuring that what you have acquired does not vanish into thin air.

T h e fourth "M"- is multiplying money.

This is the level where an individual makes his money work for him rather than work for money.
At this stage, he also extends the leveraging power of his money, thereby multiplying the end results.

The fifth skill is making money to last.

This is the ultimate in wealth creation where even after the original wealth creator is long gone, the wealth still speaks for him or her and it is generationally t r a n s f e r a b l e .
Most people fail at this stage. There were great men in the past who even had songs composed in their names on account of their sheer wealth but their wealth disappeared with them to the great beyond.

The last and the most vital is making money count.

This means returning part of your money to the source from where it came and allowing yourself to be a channel of blessings to others. Unless you get to a stage where you see yourself as a channel of distribution for God's blessings in your life, you are still largely poor.

a few rules of wealth:

Rule 1: To make money, you must have the capacity to endure.
Don't forget that money has wings and can fly but you must persist until you are able to catch it. Those who give up easily when confronted with ad verse circumstances are really not ready to be wealthy. If you are truly determined to be wealthy, you must see every obstacle as a stepping stone. You must be ready to endure a number of things if you are really determined to be wealthy.

Rule 2: To make money, integrity is vital. You must have a high level of integrity. That means your 'Yes' must be 'Yes' and your 'No' must be 'No'. I once read a book where the author says that if you lose your material possessions no matter how expensive it, you have not lost much as you can easily regain them if you put your mind to it. On the other hand, if you lose integrity, you have lost everything. It is usually difficult to build lasting wealth without integrity. For instance, it has happened many times in the past when I asked for about N1bn, the draft for the money was in my hand long before the bank sent the paper work to me. I am not perfect, but I believe they must have seen something that made them to behave that way. So integrity is key. A man of integrity would always meet helpers on his way to the top.

Rule 3: Hard work is a necessary requirement if you really want to build lasting wealth. You must work more than people around you. If you work for someone else, it means you must stay on your assignment longer than anybody else in your office. Hard work does not kill; it only helps you to discover other gifts you have.
So, you must embrace hard work as a way of life and if you add smartness to it, you would move faster."

Rule 4: Perception is key if you really want to stay long on the journey. Perception means thinking of what could happen in the future and putting things in place now to address that expectation. With perception you can foresee events that could wipe your business out and take steps now to work around them. Most people with perception saw the crisis in the stock market long before they happened and they took steps to protect themselves".