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Blog 76: Elevate The Financial Well-Being Of You and Your Community.

Dan Pena’s Guthrie Castle In Scotland.

As the mega wealthy Dan Pena would say; “If you think money can’t buy you happiness then you don’t know where to shop”.

At first I thought the vulgar motivation coach was talking nonsense but after a good conversation with an audience, I learned what Mr Pena meant literally.

It is suffice to say almost everything on planet earth cannot function without some form of financial resources. At the same breath, we all have something we are passionate about and would love doing even if it is for free.

Now imagine having unlimited monetary supply behind what you would love to do. It would make you so much happier with the opportunity and option it creates, wouldn’t it?

Whether you would agree or not, finance makes a world of difference even if it is to give your aging parents suffering from dementia the best care or supporting your favorite charity organisation.

Financial constraint is not fun when one is trying to reach his or her fullest purposeful potential.

Here are some of the measures experts suggested to help scale our finances to help reach that next level.

1- Managing BAD Debt: This is specifically aimed at poor and middle class who are the biggest bad debt collectors. They buying things of depreciating or no value the most.

2- Budgeting & Planing: Goes without saying, planing and budgeting well in advance makes an incredible difference in terms of financial management.

3- Investments: If Covid-19 outbreak taught us anything it will be the leverage of investments. Those who only depend on the income from their day job may face a pay cut of up to 50% or be made redundant. It is important to own and control multiple sources of income.

4- Learn How Tax Works: In case you don’t know, the single most expensive payment anyone will ever make in their life time is paying taxes. You pay more on taxes than your rent, mortgage and car payment combined. Everywhere you look you are taxed or in a way paying something to the government, even if it is a parking ticket. Learning to write taxes off on your business saves you a fortune. Having a PAYE job will not give you such opportunity.

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