Thread by @toyinomotoso

Are you struggling financially? Read this

#thread

This post isn't about how to become rich or wealthy.

Becoming rich or wealthy is a "long thing" with its own set of rules that many people are not ready to play by.

This is about how to stop struggling financially.

If you struggle financially, it is because of any of the reasons below:

(1) You make a lot of money but you figure out a way to spend it all.

(2) You don't make any money at all

(3) You don't make enough money.

If reason No.1 is you, your problem is obvious. You simply need to learn how to keep more of what you are making and invest it to get the money to make you more.

I can't teach you that. People like @tosinolaseinde will help you out in that area.

I am mostly concerned about people who are affected by reasons No.2 & 3.

That is because I used to be in that position.

Majority of people in this country are affected by these 2 reasons.

Personally, I think if you stay in Lagos, Abuja or Port Harcourt, you should have an income of at least N500,000 monthly.

N500,000 a month is N6m a year.

If you live in other low cost areas, an income of at least N350,000 a month can work.

These income ranges won't put you in the top 5%.

But they give you what I call "enough income"

Enough income will help you to save, invest, pay your bills conveniently and still have enough to enjoy life.

So, let's say you get N500,000 in Lagos for instance...

You can save N100,000 a month.

Then invest that N1.2m saved (after a year) into something that will make you money without your continuous presence and effort.

Save another N50,000 for emergencies.

N200,000 should cover your monthly bills.

Spend the remaining N150,000 on whatever suits you.

So, how come you are not getting your enough income of at least N350,000 or N500,000 a month?

I could give you 10 reasons but there is ONE reason that is most important and that is the simple fact that...

You are not doing any true and practical activity that can give you enough income

Many people want enough income and they do stuffs like:

- SAVE: Duh! How does saving out of your little income get you more money?

- PAY TITHE: Paying tithe is good but it won't give you more money. If you like argue till now till tomorrow.

- GET a 2ND JOB: Haba! You are still riding the "income I can't control wheel" with this

- PRAY: This is a delicate one but I will tell you the truth. Prayer is a great weapon but prayer won't directly bring money into your bank account. Many poor people pray a lot for money. How come money is not dropping into their account?

That is because God is not a respecter of man. Whatsoever a man sows, that he will also reap.

If you want cocoa fruits to grow on a land for instance, you can pray all you like and nothing will happen until you get your ass up, get some cocoa seeds and plant it.

It is the same thing with money. If you want money, do what will bring you money. What prayer will bring instead are ideas and insights that will help you if you apply them. Maybe that is why you are reading this.

- START a BUSINESS: Starting a business all by itself won't make you more money. There are loads of people who rush to start a business because they want more income and they are still struggling.

There are 2 practical activities that can give you enough income.

(1) Get a high income skill - A high income skill is a skill that pays a lot of money because it is in high demand and people who have it are rare. E.g. heart surgeon, social media consulting etc

2) Learn how to sell and start a high profit business based on that - Remember when I said "Starting a business all by itself won't make you more money?"

That is because most people don't know how to sell and selling is the main business activity that brings in the money.

Also, most of the businesses people start are normal low profit businesses.

"Oh! people always drink water, let me start selling pure water."

"Oh! people always cook. Let me sell salt."

Like @akinalabi will say - Even if you are having a wedding, how much salt will you use?

In today's world, there are unlimited numbers of high profit businesses you can start to get your enough income but they will only work if you know how to sell.

E.g. Real estate marketing is big one.

But it will only work for you if you know how to sell.

E-commerce is another one.

I know many young people, even undergraduates who are doing N1m a month with this.

But then, can you sell?

A really simple one is "selling your knowledge"

I started getting active on twitter about 3 weeks ago and I saw a $47 (N17,000) book on how to grow your twitter audience. I pulled out my card instantly and bought it.

I can go on with the list.

But then can you sell?

Whichever one you go for, I am just here to tell you that you can create your own enough income if you really want to.

Make it a project.

Start the project today and in 6 months time, you will be glad you did.

Just in case you want to start, you can get a digital copy of my book (How to Turn Yourself Into a Live Breathing Cash Machine) to set yourself straight.

Get it at pathng.com/lbcmtwt

Cheers!