Info on Family Budgeting

Family budget helps to control and manage money and helps to provide a more prudent way spending. Thus, providing a more realistic way to save and to meet up with tangible financial goals and demands. The following tips will help you achieve an outstanding family budget.

Estimate your family's income

Estimate your weekly, fortnightly, or monthly wages (after tax) plus any other income that you regularly receive. Also include money such as bonuses, income from investments, shares or interest.

Redirect your expenses towards priority

The main objective is to spend within your needs and to redirect your money toward priorities – or, better yet, dreams or what you consider germane.

Redirect your expenses towards priority

You can make it simple by harnessing the power of Excel spreadsheets, Quicken and other software programs that is if you know how to work with or knowledgeable using software notwithstanding there is nothing wrong with using a pencil and piece of paper.

Categorise your family expenses

Living expenses could be divided into two categories – Essential and discretionary.  The essential costs to list in the budget will include housing, utilities, transport, food, education, and medical expenses.

The discretionary may include goods and services that may not be necessarily essential or required but can be ignored or regulated such as takeaway food, a coffee at work, Pay TV bills, gifts and etc. then you can now create subcategory based on essential and discretionary.

Track discretionary expenses

Track discretionary expenses in specific ways, then establish realistic monthly allotments for each of them. Lots of people can not ascertain how much they spend on dining out, travel, gifts, clothing, shoes, personal care and etc. getting a track of these expenses will help create a realistic budget.

 Budget for a time Frame

Decide on a time frame for your budget - it could be weekly, monthly or yearly plan depending on the goals ahead.

Work within your income

This means you have to work out your daily or monthly income and also work out your expense on the bases of daily, monthly and otherwise. This will help you spend within and not above but having extra to save. Make sure you have justification for spending.

Plan your expense by anticipating them, and avoid impromptu buying.

Pay off your debt and avoid buying on credit

Make sure you don’t owe. And beware of the person giving you loan to buy a car when it not a necessity. When you owe pay off, debt will always bring you back into more debt and penury.

Cut down on your expenses

Try to spend less and increase savings. If your budgeting process reveals that you’re getting hit with one bill right after another, you can work out modalities down.

You can start by try predicting all your expenses for the next 30 days. Then you can make real-time adjustments as needed by shifting money from one category to another and saving more money.

Always spot out the weakness of your budget and upgrade

You can achieve by doing constant evaluation, adjustment and update.

Leadership Base Of Character

Any economical collapsed or melt down is owed to  character bankruptcy.

No great man falls or fails without first failing in character. Charecter is cardinal to any type of leadership. You can't say one thing and your character says another. Successful leadership is an offspring of formadable, tested and proven character.

The character question – lose everything but character – character is the most important asset – it is the worst lost a man can suffer- once there is character then destiny is preserved – character is the greatest liability a person can possess – you can only go up on the wings of character

Crisis of character – lecturer striving to sleep with students etc; character bankruptcy is responsible for the rot and dearth in leadership today; calculated bank frauds; behind every divorce is character lost; massive character collapse in the country has destroyed the entire system

What Is Character – it is your distinctive identity (what you are known for); it is your attitude and action in secret (who you are when no one is watching); it is your behavior under pressure (real character is defined under pressure. Everybody behaves normally when things are normal but under pressure what happens)

Importance of character

Character determines destiny - the strength of your character determines the strength of your destiny, it is impossible to have a weak character and a strong destiny, you cannot have a destiny that is bigger than your character; you are doing nothing about your destiny until you are doing something about your character.

The eagle’s example (the eagle is the king of the birds, 10,000 feet above sea level, wing to wing 9 feet, it can carry weights 3 times above its size, flying at 120 miles per hour and can see its prey which is 100 kilometers away); apart from vision, eagle has the power of vision and it does not eat corruption; compare the eagle with the vulture (they are from the same family); those who feast on corruption settle for limitation

The Lion – the lion is the king of the wild - it does not eat corruption 

Gold is also the king of metals – the value of gold is enhanced by the elimination of impurities; impurity reduces the quality of gold just as iniquity reduces quality of a destiny.

Charisma without character equals disaster; authority without integrity equals calamity.

Character makes for consistency – only a fool fires a man of character; how strong you are in character determines how long you last. Perpetuity would never occur where character is unstable.

What you loose when you lose character

·         You lose the trust and respect of others.

·         You lose the right to transfer legacies to the next generation. 

·         You lose divine direction and help.

Character boosters

·         Fear of God

·         Faithfulness

·         Contentment

·         Consistence

·         Truthfulness

Integrity

·         Honesty

Understanding Leadership

The Biblical root of leadership

Authority for leadership here is the Bible, it is a reliable authority for leadership; every sound leadership principle are buried in it; it is a manual for profitable living (2Timothy 3; 13 and 16); it is a manual for maximizing destiny (Deuteronomy 28; 1-3) and a practical book to be applied (Matthew 7; 24-25). 

Leadership started in Genesis when God brought the entire animals to Adam to name and whatsoever name he called them then it was so.

Keynotes on leadership

Ø  Leadership is taking the lead and finding the path. It is not taking title or an appointment.

Ø  Setting the pace; not occupying a place or Position.

Ø  Blazing the trail; not telling the tales.

Ø  It is not occupying a seat; it is accomplishing a feat.

Ø  It is not an appointment; it is a product of one’s attainment.

Ø  It is not an endowment; it is an accomplishment.

Ø  To bear a leadership does not make you a leader.

Ø  That you are a founder does not mean you are a leader.

Ø  That you are bishop or archbishop or chief and even king does not mean you are a leader.

Ø  There is no entitlement in titles; the entitlement is in the price paid. It is in the accomplishment.

Ø  It is not occupying a position; it is making outstanding contributions.

Ø  More than 80 percent of men who changed the world aren’t politicians.

Ø  More than 80 percent of men who changed the cause of history in the world are not presidents of any country.

Ø  The subject of leadership is simply the subject of outstanding success in ones field.

Ø  The leadership era is now; an era where only leaders have the answers.

8 – Fundamental steps of leadership

Direction – locating your field; indications of direction

Vision – set target create a clear picture of what you want in the pursuits of life and enterprise.

Wisdom – how to get there; it is the capital price; acquisition and intelligible application of relevant knowledge; 1 million without knowing how is equal to failure; Wisdom is not common sense; schooling is not education, it only empowers your literacy; you are either building a library or building a mortuary

Discipline – efficient management of time, energy and resources; investing your energy appropriately; discipline determines your distinguishing; operating as demanded and not as convenient

Diligence – hard work; doing your best; only hard workers become high flyers; work your field because it will never work itself; hard work does not wear people out it is wrong work that does; if you are not a hard worker you are a life waster; hard work does not kill but laziness does

Sacrifice – going beyond your best; going the extra mile; paying the extra price; investing the extra time, energy and resources; there is nothing extra ordinary on its own but it is man’s extra ordinary input that makes it so; there is no star without a scar. The scar of every star is his sacrifice

Dedication – commitment to your course and pursuit in you endeavor is a strong step to becoming a champion in that field.

Passion/Compassion – the level of passion you have towards your call is the extent of impart you make. Most great men in history are men of great passion. If you want to heal the sick always have compassion when you see them. Men of renown impart are people of nonstop compassion.

10 Keys On How To Fulfill Dreams/Destiny In Life

Dreams are desire created in the mind of an individual; a long or short term mental picture of the future. It comprises what the person wants to become or achieve at a particular time in life. It could also be viewed as goals and ambition that are purposeful. Then when we dream sometimes it seems like mere wishes of a beggar.  There is a saying that goes thus “if wishes were hoses beggars would ride on them.” But on the contrary, it is only the wishes of beggars that can not be ridden on; the wishes of a prudent man may just be that wing he needs to fly to the place of greatness. I think one can actually ride on wishes if you make them realities. If there were no wishes how then can there be reaches? Dream is all it takes. How then can we bring these dreams into reality?

Key1- Get a dream

Dream and make sure you dream big. Create a mental picture of the future, if it is real in you heart it will one day be real in your hands. Dream one, dream yet another and while still trying to put it down dream again. It cost nothing to dream, those who fear to dream fear the possibility of actualizing it, so they think is better not thinking of any future goals, ambitions or dream. The story of Joseph makes it clear on how to dream several dreams (Gen 37:1-9).

Key2- Harmonize the dreams

When we say dream one dream yet another, we do not mean you should be zigzag; let your dreams have a confluence. Let them be complementary, geared towards achieving a unique purpose. All Joseph’s Dreams were so harmonious they were pointing towards certain purpose of Joseph’s life; becoming the set man that they all will depend on in the nearest future (Gen 37). You want to be a pilot and at the same time you want to be a politician. That may not be harmonizing enough.

Key3-Eliminate distractions

Joseph was sold into Egypt his master was found of him, he handed everything into his hands. That would have been breakthrough enough to say he has arrived but on the contrary, he was still focused; the throne was his target. Not for long his master’s wife set her eyes on him, he chose to go to prison rather than to be imprisoned by errors and lusts and pleasure of life that will attract curse and reproach. If he had yielded, he would have ended up his journey to greatness as a slave and a sex toy. Let it be clear to you on what you want and where you want to be. No man that wars entangled himself with the affairs of this world. To eliminate distraction; focus, determination and personal conviction of purpose are just the keys.

Key4- Spell it out

Make your goals clear; write them out in other of priority. Don’t begin to live life to chance and opportunity. Get a clear cut of what you want and stop living in obscurity of uncertainty. The opportunity to manifest your dream can only come if you have a clear cut of what you want.

Key5- Let your behavior shows it

The story of Rueben is still very fresh in my mind (Gen 49). He missed his destiny and that of all his generation because of his inability to overcome sexual urge or drive. He made it worse by sleeping with his father’s wife. He has all the credentials (Gen 49:3 …..Excellency of dignity and the Excellency of power) but he had no credibility. If you want to be great then you must act like one. Everyone has weaknesses there is no super human, but hay, in the midst of all that you must work it out and let your dream reflect on your character. Imagine a pastor, Deacon, Church member who sleeps around and commit immorality with church girls or guys and yet wants to get results, it is not possible.

Key6- Locate people of like mind or people that will help lift you up

Jonathan was a friend of David in 1Sam23:16; Jonathan helped David to find strength in God. Your friends should be vision helper and not killers. Moses has his father-in-law to help him handle the Israelites. His advice helped at a time he needed it most.

Key7- Locate wise men, successful men, and great men in the field of your endeavor

It is good to emulate men of outstanding character and quality, learn their success story. That will help a long way. In any facet of life or path you are threading or want to thread, there are people who have gone through it before. It is better you learn from their experiences. Sometimes they may have written their experiences down in books or/and tapes. If you can get close to them or make them your mentor even If it is going to be from a distance it is going to help live the desire dream. Joshua was servant of Mosses whose follower are you or you just want to be made on your own?

Key8- Work towards it and work it out

Plan on how you can achieve it and make sure you achieve it. It may take time and attention; give it all it takes to make it come through. In doing this you have to pray, plan, strategize, endure, work hard and work smart.  Be willing to start small. People want to get rich over night and most time they die over night. Dream is not a get rich affair it is perseverance, persistence and all it takes (that which we have discussed) to get your desire to come to light. You may be rich yet unfulfilled. But you can not be fulfilled yet not be rich.

Key9- Be flexible, correctable, approachable and reliable

Some people are unnecessarily rigid, it is good to be firm but be flexible. Learn to take correction because that is one of the ways you can improve in what you do. Always be available to carry out your assignment and responsibility. Although David was not recognized by his siblings, he was always about his assignment no doubt that attests for his recommendations by God himself (1Samuel 16:1-13).   

Key10- Be ready to interpret the dreams of others

Joseph could interpret his dreams; he knew what was up for him in the future so it was no news he was willing to follow it. But he came to stardom only when he interprets the dream of his fellows in his prison house. Invest in the life of people around you. Help them stand to their feet, their rising may be you chance to living your dream

.

Go ahead live your dream it is your destiny you can make it happen. Cheers!

Essential Money Skills

It has been established by lots of speakers that poverty is not the lack of money but the squat of ideas; money making ideas. Even the best ideas in the world are worthless if they are not put into use. Wealth creating ideas when properly invested and put to use will certainly put money in your purse. So, perpetual lack of money is a big signpost of poverty.

Handling money

There are three perspectives of handling money; making money, multiply money and managing money.

Making money

If you are not getting then is your problem; maybe you lack implementation of ideas or you lack personal motivation, it does not necessarily take money to make money all you need it to do the right thing. To make money:

You must eliminate I can’t – the only thing you can not do is that one you think you can not do. See that you accomplish great task and becoming a front liner in life.

You must work – even God said we should work out our salvation with fear and trembling. There is always a field that is meant for you to cultivate if you don’t, then it will waste and if it is wasted then you will certainly fizzle out in poverty.

You must develop skills and apply it productively to solving problem.

You must take necessary risk.

Managing money

The problem of many is managing money, they make money but managing it is very difficult, you can be making money all your life yet die a poor man. For instance, if you are a bad manager, the more you make, the more you spend. It takes more to manage than to make.

Managing is about the controlling the use of money to serve your purpose and in other eliminate waste. Now the money managing skills:

You must have a budget – budget is to control you spending and to place limit. In the budget you must make sure you spend below earnings.

You must spend less and save more – that is using the proper money control formula: SL + SM = PMC.

Where:  SL = Spending Less

                SM = Saving More

                PMC = Proper Money Control

For low spending and high savings; buy lower prized goods – Nigerian ladies fixing human hair of about 250 thousand Naira and they don’t have any savings. Students using a cell phone of hundreds and thousands of dollars. Cut down your spending attitude and save the surplus, you must try to balance savings and spending, rent instead of buying something you will not use for long, minimize fun and entertainment, don’t dine out eat in, do it yourself – hiring the services of a dry cleaner and car wash can be a waste of resources sometimes, don’t spend your pay rise save it, buy in bulk, avoid gambling and betting etc.

You must shun destructive appetite – a young man at the age of 21 became a world renowned pugilist, at 35 he has made 350 million dollars but at 40 he became completely broke, today he is 70 poor broken and sick. He has a destructive attitude – for every color of suit he had, he bought a Ross Royce and a Ross Royce worth millions of dollars.  

You must seal several sources of money leakage – sources of money leakage are; shelter and apartment, transportation, house bills and expenses, luxury, sharing money around, impromptu buying, giving etc.

Multiplying

Multiplying money is the ability to increasingly amass money. The capacity you develop to build up and increase your income rate. You can multiply money by following the following steps:

Analyze market trend and invest wisely – don’t just do a thing because others are doing it, you have to be analytical before venturing into any commerce.

 Diversify when necessary – pursue one business idea at a time. When you have grown one idea, you can now take another, and then another continuously but within your mental capability. The future is volatile than ever so you need more than one stream of income.

Take greater but necessary risk and venture into it – greater necessary risk is what taking so as

Have a good sense of the future – know what to do at each point in time. Know when to change a course and redirect the course.

You must have to increase the income capacity of your business – read our article on how to increase income capacity on this blog. Do all it takes to improve on your money making capacity.

Some tips on essential money Skills

o   Pay less for purchase and save the surplus

o   When you reduce your spending increase you savings

o   Build a long term security by living less than your earn

o   Rich mentality sees money as a seed but poverty mentality sees money as a fruit to be eaten

o   Have money generating plan

o   Don’t live or hope on other people’s wealth to become somebody in life

o   Get direction, get goals, and follow the right course to wealth generation

o   Don’t cheat your way up, work your way up. 

Developing A Business Idea 1- How To Get A Business Running

You got some ideas and you want to bring them into reality? people jump into business without considering the right business and the business that will bring satisfaction and meet up with demands of the possible customers.

In the days past in our former area there was a petty trader who had some kinds of competition; she changed her business line from Provisions and custmetics to food stuff and the other people on the same line changed with her, when she found out that it is another competition she changed into running a restaurant and the others followed. Some people don't think at all. they just do what others do and get the average result. You don't want to live your life like that.

Now let is consider this model to develop a business idea

1. Create a formidable business idea  

Before development, your business idea should be very striking and oustanding, to get at this point you have to take time to reason out and come out with a perfect business idea. to get this done you may need to follow this precepts.

Think and thinkthrough: do brainstorming, look at the environment consider what fits the area or what you can offer the masses. At any point in time business is to render services to the populace and not just to make profit although it includes that but see it as an avenue to lead and to provide oustanding services.

Know your limits: put a bandry to the extent you can go. Get it right, going into business is not just to open a shop and start selling tomatoes or recaharge cards or some sorts of provission stores but it is to come out with some unique even if it is a popular idea but not that your motivation is because of it popularity rather is based on what you can offer and get fulfillment. 

Put down the flowing ideas: as you run through the world of ideas, get a pen and note book or some sort of recording tools. Write the vision and make it plane... one of the reasons you have to put it down is because you may have several ideas that you may need to sieve and come out with a unique one idea to develope.

Take the environment into cosideration: the place where you will situate the business also will certainly determine the type of business and the types or catigories of cusomers that will patronize you. Thus you idea should be guided by that. Don't run a business that will lack patronage.

Think to solve a problem: almost all those that plait hair arround the campus in eboyin state university abakaliki Nigeria buy weavon from some distance market place. My little friend took this advantage and was supplying all of them and in no distance time he runs a very big shop that sells at about the same price with that of the market price. Not before long my friend was travelling almost twice every week to fill his shop. As a student he made a lots of returns. If you business is out to solve some problems then is out to florish.

   2. Make research and assesment

Run a market survey and  find out certain risk involve. Do core feasibility studies; whatever you find out will certainly help you improve on the business idea you are developing or wanting to develope. (see my article on Feasibility studies on this blog). Know the possible competition and competitors arround.

  

 3. Plan

Plan with what you have. Work with the cash flow (have a proper inflow and outflow schedule). You plans should includes you goal and vision, stretegies, marketing and some target. Poor performance is inevitable if there is poor plainning. Plan every aspect of the business so you don't run out. Most businesses that crashed is as a result of poor planing.

 

  4. Dvelopment

After taking into consideration all that you need to actualize your idea and put it into implementations. At this stage of development you make the idea very visible by runing a trial product or develop a phototype so as to assess the market. If it is maul or super market or shop of any size; make enough structural implementation and manpower, develop all it takes to run it.

5. Testing
This stage the result from the development stage is used to determine if you can progress with the business. Move out to put in place you business location, structures, manpower, security, energy, commodities and other vital things that will get the business cracking. One can do a test marketing, possibly to see if the product will be acceptable or is able to stand competetion. Then the next stage is start up properly.

6. Business star up
This is the stage of launching the business. All factors have been assesed and is save or adiquate enough to run.

Some business may run through all the stages for a small scale business with little start capital one may just from the development do all the detailed assesment and put the business into a start up stage. But in that case, it very visible that it will be able to stand competetion and succeed.

Remmember you are running a business as a leader not just one trader somewhere so your mentality have to change and get it right.

The Servant Leadership - The Serving Leader

The Servant Leadership

Most times when we hear the word leader we think of those at the hem of affairs, however this is not completely through, there is another type of leadership where the leader is a servant or servant who is a leader.

In some establishments sometimes the real leader is not at the hem of affairs but they are those who make things happen. The leader may just be someone among the rank and file and his achievements are great and remarkable.

People want to be leaders because they want to be popular, rich, powerful and commanding authority and being feared. But on the contrary it should be to serve the people, show them the path, trial the blaze, give directions, solve their problems, give relief and be their bridge to greatness.

Joseph was a slave in Egypt yet he was the leader in the house of his master. The story has it that because of his faithfulness to God and discipline life style he was thrown into prison, even in the prison still a leader eventually became the leader next to Pharaoh. He interpreted dreams, gave counsel to people and the world then was preserve because of his attitude to serve. A true leader is a servant and a true servant is a leader. If you serve you will be preserved to conserved future generation.

Qualities of a servant leader

Rendering services: Jesus washed the feet of his disciples. He said to them if you want to be great then you must be the servant of them all. The greatest style of leadership I have ever seen is the serving type.

Build other people: Joseph interpreted the dreams of his fellow prisoners and that of the king; Jesus left his lofty abode and descended low to impart man. He told Peter, follow me and I will make you fishers of men. Your desire is to see humanity come to light.

Exemplary life style: I know a church leader who say one thing and do exactly the opposite. What you say is not as important as what you do. Your life style must lead people if you want to be this type of leader. Resolve to be an example.

 Influence respect and not command respect: two days ago I came to Enugu Nigeria I called one of my boys to come and drive me to a traditional wedding ground without prior-notice he came without hesitation. What do you get from here? Influence I guess. The servant leader would have so much lead that he has great influence on his people. He could have given excuses, of course he was on duty but he can’t just say no to a leader who has great influence on him.

Respect People’s weakness and learn to use their strength: you have to know this fact that everyone has weaknesses and everyone has where they are strong. Appreciate their strength and don’t attack their weakness. That is how you will get their complete loyalty and be their hero. Don’t use and dump people.

Be resourceful and reliable: be the one to listen to their cry and provide reasonable clue to getting to the solution. Earn their trust and never betray them.

They are good followers: great leaders are good followers. Learning, reading and researching is the way to follow. Jesus said follow me and I will make you fishers of men. The making is the following.

They don’t tear down they build up: they always see a way to promote love and build friendship. They are good lifting people up and not bringing them down.

They are credible: do the princes of this world have a place in you? Can people believe you when you say a thing? Can you give your time and even life for what you believe? Because this is all it takes to be a leader that is credible. Jesus said the prince of this world is coming but he has no place in me. Today millions of Christians all over the world are following and many are still yet to follow.

Sound management of time: The sound management of time is when you are conscious of the time you have to work and the time of other people. Don’t waste people’s time and don’t waste yours redeeming the time for the days are evil. Sound management of time is all it takes to dispatch your duties promptly.

Quotable quotes

It is better to serve than to be served

Serve to preserved and to conserved generation yet to be born

The best way to learn leadership is to follow. "Follow me and I will make you fishers of men..."

Good followers are better leaders

In all you do think of others and think of those it will profit