Making Sound Financial Decisions (Part 2).
Whether you are in business or not; whether you have a job or are unemployed; even if you are still a student. You might even be a social entrepreneur, a doctor or a teacher:
You still live in a world, in which everyday, you have to make sound financial decisions. You also live in a world, in which others around you, including local and national leaders, as well as business leaders, must have the capacity to make sound financial decisions, for the well being of all. Ultimately, how sound your financial decision making is, will be seen in the results.
“Time will tell, as they say”, whether our two young heirs, (whom I spoke about, in my earlier post), would make sound financial decisions. One is not born, with a capacity to make sound financial decisions, it comes through education, reading the right material, and also training.
Being promoted to a top position in your organisation, or even being elected to public office, does not suddenly endow you with financial literacy, if you did not acquire and develop it, earlier in your life. The Evangelist, Myles Monroe, once said, in one of his teachings:
“The rich man, and the poor man, have this in common; God gives sight to them both.”
I have seen people, who inherited greater riches than what these young people got; go on to lose them. Even ending up in debts, that far exceeded what they got in the first place. Poverty, can come at a bewildering speed, if one is careless in the manner, they approach matters of financial decision making. And there is no one who is exempt from having to make sound financial decisions. Even if you are in the village, with a few cows and goats; it is even more critical. I have also seen people who started with very little, go on to create spectacular wealth for themselves and their nations. At the heart of this, is the ability to make, “sound financial decisions”. It must be done, each and every day. It must be done for the short and for the long term.
Sometime, when you are on your own, in the quiet of the day, ask yourself this question:
“Am I really making sound financial decisions, in the affairs of my life? Even when I get $25 does it increase or decrease in my hands?”…. It always, always starts, with how well you handle, even the smallest sums.
Make a conscious effort, to acquire, and develop, your financial literacy. It does not matter how old you are…. even if you are 63 years old.
By Strive Masiyiwa