DAY 6: The Arithmetic of Personal Finance

Your finances is the average of the sum of the 1^st 7 people (you wrote on day 4) and the 2^nd 7 people you wrote (yesterday/Day 5) divided by you.

Personal Finance Arithmetic = 7 closest people to you who affect your finances + 7 wealthiest people whose finances you can affect/ You

7 Closest people who affect your finances +7 people whose finances you can affect

                                                                                    

                                                                          YOU

YOU, are the common denominator. You determine your own finances at the end of the day, but you are greatly influenced by how much you spend (on the first group), and how much you can make/raise from the second group.

Want to make millions of Naira?  Mastermind with millionaires.

If you want to make N100,000 a year, then mastermind with people who make N100,000 a year.

Consider this VERY carefully: For most people, their yearly income is the average of their 7 closest people.

  

I say this because my approach to personal finance is from the balanced point of view that it isn’t enough for you to spend less than you earn, but that you must also develop your mind to earn far more than you can ever spend, even if you wanted to spend it all!

So Start to associate with the people who are presently where you want to be. Start to read about people who you want to be like. If you want to be a millionaire, there are two things you can do

1. Either find a particular millionaire and do exactly what he/she does, or

2. Do what millionaires do!

The choice is yours. This blog will gives you tips on what millionaires do; including paying themselves first, living on a budget, paying off their debts as fast as possible, spending less than they earn because they earn far more than they can ever spend, and so on.

See you tomorrow.