This book is about real life millionaires. However, it doesn’t talk about making money or investing. It focuses on what most people ignore till they learn it the hard way: avoiding lifestyle creep. It talks about frugality, conservation and economical consumption.
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The authors interviewed hundreds of millionaires across America. They discovered one curious fact. Most of the people who became millionaires and maintained their status were living below their means. They also found many people who first became millionaires but couldn’t...
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...maintain their status for long. They brought luxury items, branded clothes, gadgets, etc. to ‘appear’ rich. They wanted people to notice their newly found success and status. During difficult situations, they went deeper into debts and lost all their wealth.
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This book focuses on critical financial aspects. How to save money, economical spending habits and passing on wealth to future generations like millionaires do. With the real-life stories of millionaires, it serves as a learning curve for all of us.
It's available in pdf online.
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20 Personal finance skills that you need to know
1. To clearly define the components of a family or personal budget and budget 2. Creating and maintaining a personal financial plan/budget 3. Discussing and dissecting your own financial habits and their effect on your life >>
4. Learn and apply new vocabulary as it relates to financial literacy 5. Understand basic banking services: checking, savings, money market accounts, rates etc. 6. Learn how to choose and keep a checking account 7. Learn about credit and how to use it effectively
8. Learn about debt and how to eliminate, maintain and control it 9. Learn how to save and the importance of saving 10. Employ basic money management skills 11. Learn how to improve and employ a successful money mindset
50 Innovative financial companies and products across the globe
A THREAD >>>
1. M-PESA -Launched in 2007 in Kenya, M-Pesa is today available in Kenya, Tanzania, Mozambique, the Democratic Republic of Congo, Lesotho, Ghana, and Egypt.
2. Flutterwave is an African focussed fintech that allows merchants and consumers to make digital payments domestically, intra-africa and globally. It also allows individuals and business to create online shops
It was founded and graduated from Y Combinator in 2016
3. Eversend
Eversend is an Africa-focused fintech company that launched in March 2019. It was founded by @StoneAtwine and Ronald Kasendwa. Eversend provides multiple financial products ranging from multi-currency wallets, cross-border money transfer, currency exchange, trading
1. Person to Person (P2P)
This refers to person-to-person transfers. To top up an M-PESA wallet, customers can either go to an M-PESA agent and convert hard cash into liquid cash or they can send the money from their bank account to M-PESA in what is known >>
as B2C(business to customer transaction). From here one can use the cash for several transactions such as payments, sending to another M-PESA subscriber etc. >>
Today from 5pm, we will do a full thread on our analysis of Scangroup from a Financial analysis point of view.
Stay tuned. Stay curious
1. We start by look at the following items before we delve into WPP SCAN GROUP PLC numbers for 2019 & 2020
i) 5 items that will make you understand the financials of any business
ii) 3 Key financial statements
Ice-Breaker- Accounting is a storytelling system. It tells the story of a business.
This is a picture of a butterfly. It is not a butterfly, so the financials of WPP SCAN GROUP PLC simply tell us the story of the company.
1. Toll bridge Investment Strategy
There is usually only one toll bridge and every one must pass through it. The owner is thereby guaranteed a steady income stream that in the long run will make him rich. >>
A wonderful business to own in the stock market is one that functions similarly to a toll bridge
Mpesa powers 99% of mobile money transactions in terms of volumes
Every Financial Institution that wants to do money transactions to serve many Kenyans must pass through the platform
2. Supplier of Suppliers
Safaricom supplies M-PESA and other services to different industries.
These industry players then offer these services to end-users or customers. >>
Coinbase Listing 101 1/5 The Nasdaq yesterday gave Coinbase a reference price of $250 per share, which would value the cryptocurrency exchange at around $65.3 billion when it lists today @pesa_africa@my_tradesignals
2/5
Coinbase will be going public through a direct listing. This is a process where the company does not create new shares for the public to buy.
3/5 Instead, Coinbase will list its already existing stock as available to buy from pre-existing shareholders, such as employees, executives, and company insiders.