Financial Wisdom



Financial wisdom action steps



Financial freedom and financial independence serve as key matrices for personal human development in today’s modern fast paced world.

To be financially free and financially independent requires financial wisdom which stems from financial knowledge. The crucial questions one must address are the following:

1- how knowledgeable are you financially?

2-how wise are you when it comes to financial matters?

Financial prosperity, freedom and independence cannot be left to chance. It must be planned, the plan initiated, implemented and followed through to minute details.


Financial wisdom action steps

These can be summarized in the following simple points viz:

  1. Desire

You must desire to be financially free, independent and prosperous. In other words you must set as a specific goal the target of being wealthy financially or having enough and more than enough. If you have no goal to aim at, how can you channel your energies towards attaining it? You must believe it is achievable and desirable to you. Think of all the benefits you would enjoy by attaining this goal. Set a goal and go for it.


  1. Financial Plan

You must have a financial plan. How do you intend to go from point A (where you presently are) to point B (where you want to be). You must have a map, or directions that will take you to your desired location. Sit down now and draw up a financial plan of how you intend to attain your goal.


  1. Savings

You must have savings if indeed you are serious about financial prosperity. Don’t spend all you earn, always keep a little in reserve for the future. Avoid saving against calamity (i.e. the proverbial rainy day), instead save against the future. Always harbor or cultivate the mindset that your savings will prepare you for any opportunities that may come your way to further improve your lot in life.  It is usually best to keep aside 20% (1/5th of your income) but if this is not possible, start with something no matter how small. Remember” go to the ant thou sluggard, learn her ways and be wise, she stores up food in summer against winter.”


  1. Investment

Do you look out for opportunities to invest? Are you aware of ways or means by which you can multiply your money? Look out for investment vehicles: e.g. mutual funds, initial public offerings, rights issues, real estate or landed property etc. Always nurture an investment mentality, look for means whereby you can always multiply the money you have.


  1. Giving (Sowing)

The scriptures say “…it is more blessed to give than to receive.” Giving opens the door to blessings. It is a divine law that we reap what we sow. Therefore a person who wants to prosper financially must give. This can take several forms: giving to God or the work of the ministry i.e. sowing, giving to the poor i.e. alms, giving to the less privileged and /or to society as a whole i.e.  Philanthropy.


  1. Passive Income

To be financially free, independent and prosperous, you must NEVER EVER forget this last point. To be truly rich you must find/create and generate passive income particularly multiple streams of income. This concept is built on a rock solid foundational concept that has been discovered, researched, tested, implemented and proven by experts in the field of finances namely: IT IS MORE PROFITABLE TO SELL PRODUCTS THAN HOURS DUE TO THE LIMITS OF SALE-ABLE HOURS POSSIBLE.


In conclusion, financial wisdom is very important not just for businessmen, company owners, accountants and people involved in financial services. It is an important skill for individual personal development.