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Tuesday 29 September 2015

SORRY FOR MY BRIEF HIATUS

Dear Friend, if you are reading this I know you have been following my blog and have been looking forward to articles that will help you manage your home and relationships better and I do apologize must profusely for my brief hiatus.

I have been engaged over the past few week on some assignments that demanded my time and full concentration to the detriment of keeping up with my blog. Now that the assignment is over I hope to continue to share with you knowledge that will help you become a better husband, wife, father and mother.

One issue I would like to set in your thinking and one that I hope to explore in the next few write ups is the issue of how to bring up our kids.

This assignment though may look natural imposes great responsibility upon parents. When our kids do well the glory is that of their parents and when they derail, many times it can be traced to the inability of one or the two parents to play their role in the lives of the children.

In the next write up we shall be examining what this entails against the backdrop of a pluralistic society when the hold of parents on their children is been constantly eroded.

God bless you.

Femiimevbore@gmail.com
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www.lifebuilder.ecwid.com
 

www.elshaddaicovenantchurch.org 

Thursday 3 September 2015

FINALLY ON MONEY MANAGEMENT IN THE HOME

It is pertinent to reiterate the fact that money is a key issue in the home and unless couples agree on money matters there is bound to be quarrels and conflicts.

I have tried to set before you the following facts:-

1. Money comes to all of us in varying quantities but what ensures that we become economically free is not so much how much we receive as in how well we manage what we receive. I know someone who earns a lot of money and yet has not been able to build for himself a house while drivers and security guards at the other end of the financial ladder are landlords.

I make bold to say that prosperity is not so much a function of opportunity as it is of mentality. It is having the right mind set to money that enables you to think right and act smart to ensure you break every chain of poverty.

2. Having a financial plan (budget) for your family is another key factor. You must have a monthly and a yearly budget. The yearly budget is the aggregate of your monthly budget and it helps you to see where you are going financially on a yearly basis.

A budget must contain your needs not your want. Your needs are those items which you must have to sustain you and your family. Items that must make the list include such things like food, rent, transportation, school fees, utility bills and savings.  It is also wise to budget for such extra items like holidays or purchasing a car.

3. Save 20% of your income in an interest yielding account. If you can save 20% of the family's monthly income over time it becomes large enough to put into fixed deposit. The purpose of savings is to enable you meet projected capital expenses or to meet unforeseen expenditure which may arise from time to time.

4. One thing I failed to mention previously which I believe will help every family is to have an health insurance policy. The advantages of such a scheme cannot be overemphasized especially for couples living in developing economies where common diseases are prevalent. In Nigeria for example, it is pathetic to see people on Television soliciting for financial assistance from Nigerians to meet their medical treatment for serious health issues like kidney disease or heart related problems. If they had health insurance, then such cap in hand methods will be eliminated or grossly diminished.

5. Agreeing as a couple and jointly taking your financial destiny into your hands is the foundation for a successful and debt free home. While it is important for each of the couple to have their own personal accounts, I strongly advocate that a joint account specifically opened to fund capital projects and major issues like school fees and medical bills when they do occur will help a lot.

Finally, once a couple gets over the financial hurdle everything else will be a piece of cake. The marriage is sweeter and things are better when there are no financial pressures in the home.

Stay blessed.

Femiimevbore@gmail.com
www.facebook.com/officialecc?ref=hl
www.lifebuilder.ecwid.com
 

www.elshaddaicovenantchurch.org 

Tuesday 1 September 2015

MONEY MANAGEMENT IN THE HOME 4

Like we said last time the issue is not whether money comes into the home in terms of income or receivables, the issue is how we manage what comes in. The difference between poverty and financial freedom is based primarily on money management.

It has been proven that with diligence and discipline in money matters, one can become a millionaire over time. So when people say, they are poor or in need because of what they earn, it is actually a problem of discipline rather than cash flow.

No matter how small your income is, you can through information and diligence build for yourself surplus that will take you out of poverty.

Having said that, today I will like to set before the concept of savings as the bedrock for financial freedom. It was Dr. James Iruobe who said savings is the cornerstone of financial freedom. If you do not save money, you can never take advantage of the opportunities that will come your way to free yourself from poverty and lack.

Unfortunately, like I said last time we have been brought up to think that spending money is what brings satisfaction. We have a spending mentality that makes many of us live above our means. If you could only take a piece of paper and calculate since the beginning of the year all that you have spent on frivolous items, it will amaze you how much has gone down the drain.

The fist step is to include in your family budget savings. You must agree with your spouse that a particular percentage of your collective income must be saved. I will like to suggest a minimum of 20% following the Pareto principle.

Such savings should be in a joint account with the mandate that two of you will be joint signatories to the account. I do not for one subscribe to a joint account where any of the partners can withdraw without the other for obvious reasons except in some peculiar cases.

Every couple must as a matter of planning for their children's future open savings account for their children where monies are deposited periodically for them until they attain unto the age where they can run the accounts themselves.

Any man or woman who does not save is susceptible to financial shame or disgrace. That will not be your portion in Jesus name.

Stay blessed

Femiimevbore@gmail.com
www.facebook.com/officialecc?ref=hl
www.lifebuilder.ecwid.com
 

www.elshaddaicovenantchurch.org