Vacancy! Financial Mentor and Coach Needed!!

When I was much younger, occasionally, some rich uncle, or some family friend of ours will often come visiting and when they are about to leave, they will give we little kids some money for biscuits or sweets. It might be as small as N1 or 50kobo, but it made us very glad as little kids. It meant we were now rich and could afford to buy things ourselves- no longer needing dad or mum’s money. But many times, my mum will collect the monies from us and say she wants to save it for us. I will be so confused and sad, wondering what mum wanted to do with my lil money when she had her own plenty money.

However, as we grew older, we discovered that most of those monies were actually used in purchasing shares which became little fortunes during the stock market boom about 7 years ago. I sold a couple and made some cool cash- grateful to her for her wisdom in helping me save/invest my ‘little’ money.

I don’t know if you had a parent/guardian (like mine) who taught you how to save some of your pocket money, or who took your savings and invested it on your behalf when you knew nothing about money, except to buy sweets with it. I don’t know if you sometimes wish as a grown-up, for a wise financial mentor to just appear, take your money and put it in investment vehicles where it will yield more than 10% annually for you?

 While some of us had parents, some others had a rich mentor (like Robert Kiyosaki’s famous Rich dad,) who guided them on the path of financial intelligence and helped them navigate the murky waters of personal debt, giving, saving for a rainy day, and making your money work for you passively. Anyway, you’re all grown up now, and the first thing you notice is that YOU must make the money YOU will spend. You also notice that how you spend your money is directly proportional to your happiness in life!

The next thing you notice is that life will not have pity on you if you were not given the requisite financial knowledge to power your financial dreams and achieve financial freedom at an early age. You suddenly discover that it seems you need a financial mentor/coach!

However, some adjust quickly and discover a sure means of making money early and take control of their spending habits. But many others are already neck deep in credit card debt/loans/mortgage, and what have you, before they wake up to reality; the reality that you are the captain of your soul, the master of your financial destiny.

No matter how much you wish you have a know-it-all financial mentor that can take your money and invest it for you with great returns annually, you still have to know that:

1.       The buck stops at your table. It is called personal finance because it your PERSONAL money. Even if the best financial coach in the world gives you advice, you still have to have the discipline to follow it, else, you won’t be better than someone without one. A favorite saying of mine says, ‘The person who does not read has no advantage over a person who can’t read.

2.       Yes, you need a good financial mentor! But thankfully you won’t have to look too far, all around you in bookstores, in the personal finance blogosphere, and in a good library around you are resources (many of them, free) to help you become a better money manager. If you don’t achieve financial freedom, it is your fault.

3.       Develop a positive mental outlook and can-do attitude. It doesn’t matter how bad your situation is presently; a mountain hill of debt, strings of bad luck, a poor credit score or you have a family of 7 and no job! If you are determined to make it, you will make it out of it. Many have been in worse situations and made it. But if you believe you won’t make it, then you are right.

4.       Finally, start today! Start now…with the next cash you are going to spend, the next party you are going to attend, the next time you go clubbing and might get drunk, start with the next time someone asks you for a loan you know they won’t repay, start today. Read a book, follow good personal finance blogs, change your defeatist attitude, do something different today with the way you spend your money, and release the wealthy person locked up within you!