Financial security simply refers to the peace of mind you feel when you don’t have money worries. At this point, you arrive and your source of income replaces your expenses. It also means that you have enough money saved to cover emergencies and your future financial goals. When you are financially secure, your stress levels drop, leaving you free to focus on other issues.

Wealth creation, however, encompasses that stage of your life where you not only have money to spend and keep, but your lifestyle is stable, your health is good, you have peace with your creator and others. It’s a lifetime of goodness, so when you read my column here, don’t even think that all we’re talking about is money and how to acquire more of it.

There is a popular saying that HEALTH IS WEALTH. That’s because if you’re not healthy, money won’t make sense to you until you recover.

From my study on the issue of health is wealth, I came across the target study article, which further explains that “Health is wealth” is a proverb that means a state of well- to be, free from sickness or diseases, both physical and mental, is indeed wealth. The adage is ancient, as can be observed from a great classical Roman poet, the saying of Virgil (Publius Vergilius Maro) – “The greatest wealth is health”. It is considered that Virgil suffered from poor health throughout his life and it is perhaps possible that the state of his health inspired him to introduce this proverb as advice for future generations. Similarly, a Spanish proverb says: “A man too busy to care for his health is like a mechanic too busy to care for his tools.

For most of us, “wealth” means having lots of money, a lot of land, jewelry, cars, houses, or any property that might have a monetary value in the market. This, however, limits the scope and vision of the term “wealth”, although in the conventional sense and dictionary definition it is quite appropriate. But if we broaden our thinking and look beyond our limited view of “wealth,” we will see and testify that wealth is not just what it is called.

To better understand this, let’s look at our own lives. We study at school, university or have a profession and the “knowledge” and “experience” acquired in this environment are also a “wealth”, although you cannot touch or feel it.

Moreover, you can also build more wealth with the “unconventional wealth” app. Among the various forms of this unconventional wealth, there is “health” which is by far the most important wealth that one can have, more or less on the same level as that of “spiritual health”. This highlights the fact that ‘wealth’ is actually dependent on and linked to ‘health’ in more than one way.

It is not wise, however, to be “wealthless” in order to be “healthy”, i.e. do not obsess over health so much that it becomes an obstacle to your ability to produce richness. Health is an equally important wealth, the value of which is understandable to those who truly consider it wealth and not just a fad. Those who have not yet realized this need to think more.

Health is the Foundation of Other Wealth – Health and wealth are linked in many ways.

To feel financially secure, you need to know what your assets and liabilities are, as well as compare your income to your expenses. If you don’t follow them, you might not know you’re struggling. For true financial security, you must consistently budget for your basic needs, such as food, clothing, and shelter, as well as your long-term goals, such as paying off debt, savings, and more. and your investments. As a woman, you should also include life insurance to cover the well-being of your children in the event of your death. Never depend on your partner for this. Truth be told, if you predecease your husband or partner, I can tell you for free that no one can take care of your children as well as you could.

Your next job is to make sure you prioritize your long-term goals.

Be sure to set aside money for long-term goals, like an education fund for your children, a down payment for a future home, or a retirement account for your golden years.

Build an emergency fund. Whether it’s an emergency account or a rainy day fund, setting aside several months of day-to-day expenses is essential on your journey to building wealth. That way, when something unexpected happens like a job loss, a broken refrigerator, or a child needing to go to the hospital, you have the funds to deal with it rather than having to go into debt.

Track your expenses or expenses.

Don’t just spend money, track it. The same way you track your journey when traveling. Become a “mind controller” of your personal spending.

At the end of each week, take time to check how you spent your money. Then take the time to put everything together at the end of the month. In my investment club, I help members track their spending; and it has helped everyone see where their money is going. The moment you are able to identify where your money is going; your money worries are half solved.

A larger percentage of the people I work with to track their spending have found they spend more on car maintenance, extended family, food, and impulse spending, to name a few. It has now helped them manage their money more easily.

I once met someone who told me that she became terrified every time she wanted to track her expenses as such she had given up on this activity in the last year.

Please don’t be afraid to track your expenses; While what you discover may sadden your heart if you have a bad spending habit, it still guides you in designing a better spending habit for yourself.

If you received my free financial planning template, you can create a good spending habit on a regular basis.

Start this weekend and track your spending.

YOU SHOULD NOT MISS THESE NIGERIAN TRIBUNE HEADLINES

We haven’t had a water supply for months ― Residents of Abeokuta

Despite the huge investment in the water sector by the government and international organizations, water scarcity has become a permanent nightmare for the people of Abeokuta, the capital of Ogun State. This report reviews the lives and experiences of residents obtaining clean, safe and affordable water amid the surge in COVID-19 cases in the state…Provost of Federal College Provost of Federal College

Chinese Selfies, Video Calls and Documentaries: What You’ll Meet on the Lagos-Ibadan Train

The Lagos-Ibadan Railway was inaugurated recently for fully paid operation by the Nigerian Railway Corporation after about a year of free trial. Our reporter joined the train to and from Lagos from Ibadan and recounts his experience in this report… Federal College Provost Federal College Provost

About The Author

Related Posts