“Go to school, get good grades and look for a safe secure job,” our parents told us and even some continue to tell the bad advice even in this era. Old advice no longer works with the millennial generation who now know success no longer comes from good education and those gorgeous grades. Well, the child excels with good grades but with a poor financial programing mind set they end up in a rat race or a dairy cow ready for milking.
One day we got to arguing with my buddy who was astonished that I don’t like self help books. I do real motivational books from people I have had a rough idea about their lives I must have uttered out. That debate went further when we went to Two Rivers TBC and as I gazed at books he kept moving from one corner to another and I asked what he was looking for? He went to the business segment and too bad he didn’t find his treasure. Rich dad, poor dad was the book he really insisted that I should give a shot at. As a good girl I promised I would since this is the book that changed his mindset and he attributes his personal achievement to it. Now he is the CEO and founder of Freelance Y’all who love writing and want to convert PayPal transactions to your Mpesa account he is the guy you need to hook up with (this advertising you doesn’t come for free Simon😉).
Any who, I got the book from a book club member and hallelujah!!! Just the sense I needed kicked in into my brain and a lot of you need it too. So don’t panic, we just getting started in lifetime lessons I gained from Richard Kiyosaki. Well my summary shall be subdivided into a number of posts probably 3.
Our financial genius is asleep waiting to be called upon. It is asleep because our culture has educated us into believing that the love of money is the root of all evil. You sick and tired of getting up, going to work, paying bills and the cycle never ends? Well here are 10 tips on how to prove your proficiency at both accounting and investing:
1) Pay yourself first- Power of self discipline.
Don’ t go to large debts positions that you have to pay for. When you come up short, let the pressure build and don’t dip into your savings or investments.
2) Pay your brokers well- Power of good advice. Find a broker who has your best interests at heart. They are professionals and the more money they make, the more money you get.
3) Need a reason greater than reality- Power of the spirit.
4) Choose daily- Power of choice
5) Master a formula and then learn a new one- Power of learning quickly. You become what you study.
6) The need for heroes- Power of myth. They make things look easy even when they don’t.
7) Be an Indian giver- Power of getting something for nothing.
8) Assets buy luxuries- Power of focus. To be the master of money, you need to be smarter than it.
9) Choose friends carefully- Power of association.
10) Teach and you shall receive- Power of giving. If you want to learn about money, teach it to someone else. (I guess am already doing the effect on you☺).
Fully equipped with the start ignition, shall we now look at how to drive this money thing?
SOME TO DO’S
1) Look for new ideas – investing ideas
2) Take a break and assess what is working and what is not working
3) Learn from history
4) Take classes and buy tapes
5) Know what you looking for and look in the right places
6) Jog, walk or drive a certain area once a month
7) Make lots of offers
8) Take someone who has done what you want to do. Ask for tips.
Hold onto that brake as this ride ain’t smooth as you think! Bumpy huh! Yes so rough. Obstacles come our way and in the money business it is even more risky.
1) Fear- Know how to handle it. That makes the difference. Many people want to go to heaven but do not wanna die. Many people want to be rich but are afraid of losing.
2) Laziness- This is by pretending or been busy. The cure for this is having some little greed. Greed😕! Yes when money speaketh you have to and be armed with the WII-FM slogan (What’s In It For Me.) Do what you feel in your heart to be right for you will be criticized anyway. You will be damned if you do and damned if you don’t.
3) Arrogance- Ego+ ignorance. When you know you are ignorant in a subject, start educating yourself by finding an expert in the field or find a book on the subject. (Ooh stop the know-it-all act! In my land we call one ‘mjuaji’ and in my mother tongue ‘ kimenyi’.)
4) Overcoming cynicism- We all got chicken little minds; unchecked fear and doubt that makes us play the “what if” game. Solution to this is by frying it!
5) Habits- Our lives are a reflection of our habits than education. Pay yourself first before the bank or government. It makes you financially stronger- mentally and fiscally.
Digest that first as next time we shall cover on the 6 lessons that make up the Rich dad, poor dad book. Be ready to know how the rich continue to be rich while the poor continue to be poor. At the end of this maybe you shall let me know if you think you are the rich dad or poor dad.
Happy New Month🎆🎇
The excitement that comes with one operating their own business or landing yourself that dream job is always up to the roof. Then there are the nosey people starting with ours truly, parents, who ask millions of questions; most importantly been “How much are you making? How much are you getting paid?” I always make the ” did I ever ask you how much you make” face. That by the way always piss me off from family to friends. If we have never had a sitting arrangement to discuss our finances then a beg, take your wahalla and go. Back to you, why are they always interested to know your dough? Does it get to your nerves?
We all have what we came to learn as we interacted with our societies and much of it we were born into it. Lately, I have been thinking of what happens when you don’t want to be associated with your culture. There are these rituals that are done and we often told of the consequences of not adhering to them. This is Africa and I bet each country, each tribe out there got their thing. Does the same apply to continents like Asia, North America, Antarctica? Well due to different deities of course Muslims, Hindus got their way of things and this even cuts across to ceremonies like marriages, death of loved ones and so on. Maybe, rebels have been there in the past and were they cursed? Can you be a rebel of your culture? Which custom would you want to change?
Last time I covered briefly on employment law in Kenya and here is the link in case you missed it Law Lessons:1) Employment
Now allow me to talk on redundancy and termination still under employment.
This can be by employer or employee’s own will. If contract was for daily wages then at times it is not necessary to give a notice. However, if you were getting dough periodically, give a 2 days notice prior to the day of termination. If monthly, give a 1 month notice. So what happens in cases where you were to give a notice but ahhh, you assumed? You should give 1 month pay (employees – employer/ employer – employee).
There is something known as Service Pay that many of you do not know about. Either party doing the termination should pay service for every year worked for. Example: one worked for 10 years and pay was Ksh 5,000 then 5,000×10 is your service pay and should not be taxed.
Many are the times you get yourself fired with no notice or reason whatsoever. Termination is deemed unfair if:
- No notice was issued out
- One is not given an opportunity to defend themselves
- There is no legit reason
If employer is to terminate their employee there are things that should be taken into considerations:
- Notice to show cause. Here an employee can call for a meeting to defend him/herself and also tag one person along to help refute the claims. Legit reasons might get your ass hired back. How cool is that getting yourself back to work in just one shot?😎
- Warning letters are of importance. You just don’t wake up one day and decide you have had enough with so and so. No honey, that might put you in a frying pan if not fire. If no warning letter has been issued and a learned employee like me decides to sue your ungrateful company, then the court shall come to my rescue😏.
Talking of sue, as an employee you get paid 12months salary+service pay+1 month salary. Walking outta that court loaded 💰
As you work out that calculation, don’t start tripping yet. The game may just die in front of you with a Summary Dismissal. This is where no time is given for notice to show cause. Reasons like direct disobedience (insubordination), abseentism, drunkenness, theft, been charged and convicted can make the employer kick you out in a blink of an eye.
We have seen this with most companies but maybe you never knew the term been redundant. When the service you were giving is no longer of value then one is deemed for redundancy. Examples: POSTA, Plastic bags where we in the venture to join our Rwandese peeps in abolishing them for a clean environment etcetera. Or maybe say technology replaces your manpower and you left jobless. Now you roger, I suppose.
Any who, if you declared redundant there should be a 1 month notice+ service pay.
Then, not everyone gets packing as some are retained. The longer you have been in that job and bonus of been a good employee should make employers want to retain you.
And am done teaching some employment law, hope you now know your right and as an employer you learned a lesson or two. Do not hesitate for questions you know where to slide them ☺.
Kidnappers mostly enrich themselves by kidnapping people despite their social status to put a point across; revenge, jealously, hatred, we know you loaded, warning etcetera. Whatever the reason they always ask for ransom that we eagerly debate about and hand it over with the “no cops involved or we blow his/her brains off.” Yea mimic the 🎬🎥 for that.
Any who, my thought for today is simple and real. We like to take God hostage. Dare you deny it! Many are the times our leap of faith let’s down to a point our Lord never responds ASAP. At that moment, just when you have seen, heard, smelled and tasted it all, you decide to take God for a road trip. “You know what God, if you help me in A,E,Y stuff I promise I will go to church, I will quit this or that, I will pay my tithe…blah blah” and we wait.
Wait, wait and wait till boom He delivers and do we really do as we had promised? I highly doubt and if you do, only a small percentage fulfill their vows.
Why as Christians do we take God hostage? Why do we put terms unto Him and when He pays us ransom through His galore blessings we forget?