22 MISTAKES PEOPLE MAKE IN MONEY MANAGEMENT AND HOW TO AVOID THEM

This message is about how to make money, how to keep it and how to use it.

There are universal laws that guide money. There are rules of making money, saving money, and investing money.

This message is relevant now because of the present economic meltdown.

It is a practical revelation of the truth behind poverty and struggling seen among many today. Hear these: Economic depression is not new. In the same vein, economic recovery is possible, even at the speed of thought.

Do you know that a secret undiscovered and put into practice is recovery unattained and prosperity is not achieved.

This message shall be an eye-opener for you. At the end, if you practice the contents, you shall never lack money again in life. You shall also acquire a generational wealth and prosperity for yourself and your descendants.

In the course of this message, “MONEY MAKING SECRETS…How To Avoid Money Management Mistakes. Guaranteed!!!” I shall be unveiling to you the 22 ways of making more money easily. I shall also be revealing to you some reasons why people make mistakes in money management and how to avoid money management mistakes. We shall be discussing the secrets one after the other.

 SECRET No 1: IN ALL THINGS, PUT GOD FIRST: The Bible said in Mathew 6:33, “But seek ye first the kingdom of God and his righteousness, and all other things shall be added unto you” A lot of people today think business first before God. Maybe, you now avoid church services because your business has expanded. You think that you now have more challenges than necessary in your life that serving God looks stressful and boredensome. Little wonder why all you make end up in a basket of waste. They filter away as: payment of Hospital bills, treatment of sickness and diseases, burial services, victims to 419ners, kidnappers and scammers.

Has it ever occurred to you that God is the source of all wealth? He gives one power to make wealth. Without Him you can do nothing. Read this, from the Bible (Deuteronomy 8:18): But thou shall remember the Lord thy God; for it is he that giveth thee power, to get wealth, that he may establish his covenant which he sware unto thy fathers, as it is this day.

Someone said that most Christians crash when they allow a little success to disconnect them from God. No matter how strong and beautiful a tree branch may be, it automatically withers once it is disconnected from the root, and will ultimately die. When you stop seeking God, you start sinking in the sea of life. A spiritual root is the only guarantee for a sustainable accomplishment in life. 

Without a reference, you don’t become a reference. Stand on the shoulders of those who have gone ahead of you.

 Pastor Chris Oyakhilome, writing on the topic” Unlimited Prosperity” in his devotional, “Rhapsody of realities” on the 11^th of November, 2009 buttressed, “…you were born the very heir of all of God’s wealth and riches when you were born again! You inherited wealth untold. 

What you need now is to know the Word of God and use it to chart your course in life. It makes no difference whether you’re a clerk, or a CEO of an organization; you’ve been brought into a large place; your wealthy place in God. You were born into an incorruptible inheritance….irrespective of where you work or your job description today; it will not stop you from becoming a prosperous man or woman. You’re Abraham’s seed. As Abraham’s seed, the principle of prosperity is at work in you, and your prosperity is unlimited. You’re an heir of God, and a joint heir with Christ. You were born rich.

SECRET No 2: CONSISTENTLY PAY TITHES: Have you been paying tithe accurately? A lot of people give excuses of not knowing how to calculate their tithes. But they know how to calculate their meals, shirts, shoes, money etc. We chant the book of Malachi 3:10-11 as if we are singing choruses in the church.

Do you know that you can put an end to whatever devourer that has been “eating up” your money, without your knowledge, by paying that tithe? Do you know that tithing is you insurance cover against destruction and disruptions of all forms? Do you know that when you give, God pours out His wisdom and power upon you? Do you know that when you pay your tithe, heaven releases a rain of ideas and the ability to bring those ideas to pass? Why not start today and be paying your tithes for a great financial turn around.

But, how do you pay your tithe? “You may ask” Hear this:

When you finish your sales or any other form of transaction today, calculate how much sales you made. Subtract the cost of the goods (or services) bought. The fraction that remains is your profit. Divide the profit by 10. take one part package it in an envelop, send to your pastor and tell him that you have come to pay your tithe or add them up for the weak or month and pay during church service (note it as your tithe). 

Assuming that you don’t pay tithes in your church, still go ahead, by faith, package it and pay. Always pay it; if there is no difference positively between you, your business and other members’ lives and businesses, declare me a liar. My God is too faithful to fail. Tithing is a guarantee for financial turnaround. Dare it.

 SECRET No 3: THE CLASSICAL RULE OF MONEY: “A part of what you earn is yours to keep”. Assuming you have been keeping 10% of all you earn, how much would you have been in ten years? Go ahead and calculate this. Unimaginable! You might have screamed. But, why have you not been keeping it? 

See, the money you make is a slave to work for you. Money is entitled to bear its child. This child is also entitled to earn more for you. If you must become wealthy, then what you save must earn, and its children must earn; all shall help to give you the abundance you crave.

What have you to show for your earnings of the past months? What about the past year(s)? Why are you fooling yourself, labouring for another man; feeding from hand to mouth? “A penny saved is a penny earned” Benjamin Franklin noted.

“The secret of smart money is to learn to live like a millionaire but a pauper on paper….Making money is one set of skills. Keeping it is another.” Robert G. Allen added. “Wealth, like a tree, grows from a tiny seed. The first penny you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed, the sooner shall the tree grow. And the more faithfully you nourish and water that tree with assistant savings, the sooner may you bash in contentment beneath its shade” Clason noted in his book, “The Richest Man In Babylon”.

Do you know that there is another classical law that states, “Unto him who keepeth and spendeth not a certain part of all his earnings, shall gold (money) come more easily? Him whose purse is empty does gold (money) avoid.

The first penny you saved shall by law of attraction multiplication attract more money into your purse. Try this now, open a savings account with any bank or “Akawo”, start saving. Watch if you would not have an amount beyond your imagination in less than no time. When you save money, you become a money magnet. When you save your money, you achieve the law of attraction in your life. Each Naira you save will attract another Naira. A wise one saves for the future, but the foolish spends all he/she has (Proverbs 21:20).

A note of warning: life is meant to enjoy. Do not over strain or try to save too much. If 10% of your earning is all you can comfortably keep, be contempt to keep it.

SECRET No 4: DISCOVER THE REASON WHY YOUR FINANCIAL LIFE MUST TURNAROUND FOR GOOD: Until you discover why you must be rich, you are not a candidate for prosperity. Every body knows how to be rich but it is only the reason why you must be rich that is the problem.

A lot of people, especially in Nigeria are “suffering and smiling” people look very happy eating “junks” as foods, riding matches boxes as cars, and putting on rages as clothes. Who told you that such positions can not be attacked? Who told you that you are destined to be poor? Wake up from slumber! Until you become MAD (Motivated, Aggressive and Determined) to change your position remains. Until you say NO to poverty and YES to prosperity, you are a candidate for prosperity. Why are you still in this pitiable situation? Why are you not the CEO of a company? Why are you not making money in abundance? Why?

The seed that will germinate into prosperity and financial abundance is in you. Just go ahead, get a paper and pen, and write down at least 15 reasons why you are not yet rich. Think out practical steps on how you can change the situation and become rich. Start from where you are, with what you have. I bet you in less than 6 months from today, you shall be rich. Except, the Lord did not send me to you. God is too faithful. He shall confirm His Words.

SECRET No 5: LEARN HOW TO BE RICH: Going to school, getting the best grades and certificate, is no more a sure route to a lasting success. In school, they don’t teach you how to make money. If they do, no graduate will parade the streets of our town looking for non-available jobs.

Haven’t you discovered that even those who work in the bank and oil companies still complain of lack of money at the middle of the months? The reason is that a lot of people are not financially literate.

Making money is a skill of its own. It must be acquired and put into practice before money will be made. To acquire such skills, you need to associate with the rich and discover their secrets on how they made their monies. Repeat what they did in a more creative manner, and less than no time, you shall have money in abundance. How do you discover this? Just read their books. My recommended books for you are:

v  The Richest man in Babylon – George S. Clason

v  Winning the war against poverty – David O. Oyedepo

v  Understanding Financial Prosperity – David O. Oyedepo

v  Anointing for Breakthrough – David O Oyedepo

v  Breaking Financial Hardship – David O. Oyedepo

v  Covenant Wealth – David O. Oyedepo

v  Success System – David O. Oyedepo

v  Success Strategies – David O. Oyedepo

v  Getting Rich your own way – Brain Tracy

v  Rich Dad, Poor Dad – Robert Kiyosaki

v  Retire Young, Retire Rich – Robert Kiyosaki

v  Guide to Investing – Robert Kiyosaki

v  Cashflow quadrant - Robert Kiyosaki

And any other book you can lay your hands on, financial intelligence.

“Would you call a fisherman lucky who for years so studied the habits of the fish that with each changing wind, he could cast his nets about them” A wise one asked.

“Bishop David O. Oyedepo said it, and I believe him, “There is no substitute for information in your quest for a change of position, not even intercession can substitute for information” Fasting and praying alone cannot make you rich. Until you study and discover the secrets of making money, you are not a candidate for serious wealth. God has done his own path. Discover what you must do to make it in life. 

Henry Ford rightly said it, “anyone who stops learning is old, either at twenty or eighty. Anyone who keeps learning stays young. The greatest thing in life is to keep your minds young”. Nobody is responsible for where you are, but you; not even the devil. You will be the same that you are this year in five years time, except two things- the books you read and the people with whom you walk” Another wise one added; study to show yourself approved unto God, a workman that will not be ashamed.

Remain blessed! See you next time!!!

N.B: Remember to download your own copy of my latest manual at www.makemoneynaija.com