Financial Inclusion

Every person is brought into this world in order to serve his/her purpose which includes:

  • creating resources to satisfy ones’s needs.
  • inspiring other people to lead meaningful lives.
  • helping those who have very little or no resources or social support.
  • keeping some resources for future generations so that they do not start off life poor. In some cases this means breaking the chain of poverty that may have characterized previous generations in your family.

Think about it, were you born to eat, sleep, find a job, have children and complain about many things?

money
Passive income
Salary
Invest

Money is simply a financial resource that is used to pay producers and sellers for their goods and services. Our training program provides children and women with practical tools methods and tools for creating income and managing wealth in order to prevent them and/or dependents from living in financial stress or slipping into poverty. See more in our Money Plan for Beginners below and in our Wealth Creation Page.

A loan or credit that is granted to you so that you can take goods or services without paying for them in full is described as a liability. You do not own the goods until you repay the loan in full, even if such goods are legally registered in your own name.  Therefore, avoid bad debt so that your Monthly Debt Repayments (MDR) which include repayments of personal loans, credit card & loans for additional real estate or business do not rob you off the opportunity to increase your investments. Use our Money Plan for Beginners below to learn that self-made wealth (W) can be accumulated by any person when Total Income (TI) is greater than Total Expenses (TE) over a period of time, provided that the value of accumulated assets (savings and investments) is greater than total debt outstanding (liabilities) i.e. wealth = assets – liabilities.

Money Plan for Beginners

Type the amount for one month in each box below an item under Cash In and Cash Out in order to get an estimate for the year. Change the monthly amounts of some of the items so that you can achieve your target for the year and tell your story with the words that are in the last column. You can get detailed tools and advice in the training program.

Notes
Salary Income (SI)
This is amount paid to you by your employer after deducting income tax, contribution to pension and other lawful deductions related to retirement.

Other Income (OI)
This includes cash gifts, interest income, commission for agents, endorsement income, income from side-hustle that is not an independent business, rental income, royalties, directors’ fees, dividends, board/non-executive directors’ fees, money repaid to you, savings withdrawals. In some cases this includes money received upon maturity of government investment products (bonds & treasury notes), investment funds, and sale of assets. In other cases it includes money received upon retrenchment, retirement (pension), insurance claims for life or disability or funeral or unemployment as well as inheritance income.

Expenses (E)
This is the sum of payments for all goods and services including lifestyle expenses such as payments for helpers, gardeners, security, celebrations, gym, etc. Philanthropy includes money given to relatives, church, other individuals and organizations.

Savings (S)
This is money you put aside for a short period of time, for example up to 12 months, for emergencies that might arise and for purchasing goods or services.

Investments (I)
This includes acquiring assets such as (a) real estate – land and buildings for residential or commercial in addition to your home (b) currencies, minerals, livestock, art, intellectual property (patents, trademarks, copyrights), shares in your company or another or (c)  Government treasury bills/notes & bonds or (d) investment Funds – mutual funds, money market funds, exchange traded funds and hedge funds.

Total Debt Outstanding (TDO)
In Month 1, this is the total amount of debt that you will still be owing after making payments in that month. The amount for the year (Year 1) is approximately TDO in Month 1 less the amount of money debt repayments MDR at the end of Year 1. This estimate does not take into account changes in interest rates and charges as well as decisions that may be taken during the year.

Potential Wealth (W)
In Month 1, this is approximately the value of savings and investments added to the value of pre-existing assets including savings less the total debt outstanding by the end of that month. In Year 1 this is approximately the value of accumulated assets up to the Month 12 less total debt outstanding in at the end of Month 12. This estimates excludes changes in interest rates, charges, exchange rates, other market forces and decisions that may be taken during the year.

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