FINANCES : Money is NOT the root of all evil

It is interesting that many of us wake up to go to our jobs or our businesses or our schools or even our churches and continue to be embarrassed about wanting to be rich. Some of us are brought up thinking that money is the root of all evil. We pride ourselves in being poor, because we misinterpret the bible quote, ‘happy are those who are poor.” We somehow begin to think that at the core of our faith or religion, money is that evil thing that should be kept at bay. In the e-book, Enhance Your Financial Intelligence, it is stated that money is not the root of all evil. Instead it is the love of money that is the root of all evil. It goes on to say that money is an excellent servant but a terrible master. If you are trading your life away for money, then it has power over your time and life. In your personal efforts to improve your personal finance, it is very important that you begin to look at it and what it can do for you, instead of worrying so much how you will keep it when you get it, with all those temptations of nice things facing you. This e-book gave me an interesting insight into how poor people do not want to part with their money while rich people are more than willing to do so and in the process make more as a result. Poor people keep their money under the mattress and remove little by little to spend on needs but in time that money gets finished. The rich ones keep investing their money and their money brings more money to them. In other words, rich people have their money working for them while poor people work for money. Of course am not saying you should quit your job because you ‘do not want to work for money.’ Think about it – what are your spending priorities? If faced by a decision to either buy a piece of land on Nyamata road or buy a nice car, what is the better choice? A nice car will win you new friends and prestige, but as soon as the car drives out of the show-room, its value drops because it becomes second hand. In this case, your money starts to depreciate – lose value. You begin to lose money immediately. On the other hand if you buy a piece of land, the value either stays the same or rises, especially if the government is planning to build an airport down the road. From the word go your money begins to appreciate – to gain value. Five years down the road the fellow who bought a car would sell it a throw away price and add money to buy a new one, while the fellow who buys the land will sell it at ten times the price, buy the same car his friend bought and have money left over to invest in more land and build himself a house or for rent. Entrepreneurs are willing to pay others money to help them make more money. The e-book summarizes this notion, by defining money as an idea, backed by confidence. kelviod@yahoo.com

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FINANCES : Money is NOT the root of all evil