FOREVER LIVING AND HOLISTIC HEALTH
FINANCIAL HEALTH
There are many aspects of health other than physiological well being. The types of health are;
1) Psychological
2) Economic
3) Spiritual
4) Social/Community Health (Subset of physiological health)
5) Academic
Among many others...
There is an old expression; "Health is Wealth!". This article is about Financial Health because you can be making a lot of money but are financially sick. We are going to incorporate a few financial facts to help you ensure financial health
1) BUDGETING
Yes... I know I know... You have heard this a million times. Truth is budgets are not helping you much and you are most likely slightly turned off by this point. THE PROBLEM IS NOT THE BUDGET; THE PROBLEM IS YOU!
You are indisciplined in your spending and as every human does you start pointing fingers at the budget almost personifying it. If simply setting up an expenditure guide is not enough to curb your spendthrift habits; then back that guide up with an extra column to your budget table. Actual Expenditure. This helps you compare the estimated expenditure (what you anticipate or presume the items will cost) and what you actually spent on the items. The performance may vary due to microeconomic factors (which you have control) and macroeconomic factors (which you have no control).
A positive performance is spending less than you anticipated to spending as much as you anticipated. A negative performance is spending more than you anticipated.
Expected Performance - Actual Performance = P.I (performance indicator)
If the P.I is equal to or greater than 0 then your performance is positive and that is good.
If P.I is less than 0 (Negative) then your financial performance is bad.
Whether the result is positive or negative always conclude with a reason for your performance. Certain things like Macroeconomic factors (Price changes) will clearly come out and calculate the percentage change of prices for every month and after a whole year calculate the average. This will allow you to come up with a range that you expect your budget to be within. That also acts as an early warning system of how the macro-economy is performing before disaster happens allowing you to start hedging and preparing yourself in time. Such records may influence a credit manager to award you a loan although based on other factors they can deny you one.
2) MULTIPLE REVENUE STREAMS
It is advisable to have at the minimum 4 revenue streams. Anything can happen at any time that was not at all predicted like Retrenchments, end of land lease period (some people do get caught flat footed), demolitions by Local or Central Government (Refer to Syokimau Road Reserve Saga where some died of stress related diseases afterwards) just to mention a few. To be honest, in such situations, money is the answer to all your problems. Look for other means of making money. For example your skills are highly relevant to the online community. Go to job sites like Upwork.com and start bidding for jobs. Some of them require a Resume/Curriculum Vitae and the more qualified you are the higher the chances of getting the job. There is no such thing as being over qualified in the Online job market. There are temporary jobs that you can take on in your free time for that extra income. Whether you are an Engineer or IT specialist or an accountant etc there are jobs for you. Even if you are a Medical Doctor and you have a passion for music production, I see jobs there everyday asking for those who can make music even for nursery school rhymes, paying up to 30 USD per hour where they tell you the project will take 20 hours and they want it done within a month. All you do is apply then you are selected for the job. If you are a marketer you can start a blog using www.blogger.com. You can earn money for the adverts you post on site. For example, the pop up that appeared upon opening this page on your computer, made me money. I just added the code advertisers gave me to my blog html and voila! I also earn for bringing more Internet Marketers on board. Click here to visit my first advertiser or my second advertiser here FYI, you make money in US Dollars. See next point of how to earn from Forever Living without too much hustle. Don't rely on your salary alone or government business alone. That is going against an age old financial proverb; "DO NOT PUT ALL YOUR EGGS IN ONE BASKET!"
3) SUBSCRIBE TO SUPER SAVER BUSINESSES/OFFERS
The main purpose of a super saver deal is to reduce cost as you obtain superb quality products at the same quantity. This opens up more funds to invest keeping in mind that the higher the investment, the higher your returns.
There are multiple super saver businesses out there. Forever Living for example is free to join. You can buy day to day goods that are carcinogen free, economically friendly and upon a certain amount of purchases get money back rewards of up to 20% to 30%. You also can play your cards right for this opportunity as an extra revenue stream. You can earn from referring others to Forever Living to enjoy the Super Saver Guarantee. Otherwise, Amazon.com and E-bay have such features for online shoppers.
There are multiple super saver businesses out there. Forever Living for example is free to join. You can buy day to day goods that are carcinogen free, economically friendly and upon a certain amount of purchases get money back rewards of up to 20% to 30%. You also can play your cards right for this opportunity as an extra revenue stream. You can earn from referring others to Forever Living to enjoy the Super Saver Guarantee. Otherwise, Amazon.com and E-bay have such features for online shoppers.
4) INVEST
There is a core finance principle; "A shilling today is worth more than a shilling tomorrow!". This principle is about the TIME VALUE OF MONEY. In the 70's a loaf of bread was less than one shilling. Today it is 50 Shillings. Don't just save without investing, your money will lose value. Saving without investing leads to a tragic scenario where instead of having an opportunity cost by selecting one investment opportunity and leaving another you miss out on all of them, creating an opportunity loss which is the total of all opportunity cost minus 0. Invest in opportunities that have a return higher than the inflation rate to create value. Fixed Deposit accounts are a viable option to consider to steadily multiply your income. Some banks give up to 10% interest depending on the customer to bank relationship over a period of 6 months. In a year that's 20 percent. That means you are compensated up to three times the inflation rate. If that option is too slow for you, there are other faster methods although among your options of investments you should consider fixed deposit accounts to have a multiple industry investment portfolio. Remember, don't keep all your eggs in one basket.
5) LEVERAGE ON DEBT
Leveraging on debt means that you have an investment option but choose to invest not only your money but also a debt, it increases your returns but it is very risky. Returns are higher when the cost of debt (Interest of the debt) you have acquired is lower than the Return On Investment of the investment opportunity. If done tactically, you can create that extra return to push you further ahead.
CONCLUSION
There are many methods to assure your financial health. Poor financial health can cause you to have poor health on other aspects of your life. Let's face it, money is on everyone's mind even a child still under parental care has money on his or her mind. When you have external constraints such as responsibilities, this in mind can cause you stress, affecting your physiological health by giving you high blood pressure and stomach ulcers, if you are a student it can cause you to have poor performance affecting your academic health that some even fall into depression which is an indicator of psychological health, and because every human being is contagious in positivity or negativity, community health is affected. Economic Tragedies have even pushed people to curse and blaspheme against their God; {refer to bible (Job's wife)}. The bottom line is, when one aspect is affected, all the others are affected. However, the aspect that mostly affects all the others is.... MONEY
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