THE SMART MONEY WOMAN

It’s a book about money - making it, spending it, investing it and growing it. Every woman that’s aiming for financial stability and independence should read it. Now, you are thinking, ‘oh, not another book on finance,’ especially in these times when many people, who probably don’t know what they are doing, want their names on a book.

Well, this book is different. Even if you are not a habitual reader, this will blow you away. It’s fiction, a story about how women (and men) should manage their finances, with thought-provoking, priority-reordering and action-motivating lessons that will change the way you look at yourself and money. It will draw you in till you turn the last page. The author, Arese Ugwu, was in Warri weeks ago for the Book Signing hosted by Orode Okpu. I was there and here is a bit of what she said about managing your personal finance.

THE TRUE MEANING OF WEALTH

In the African context, to be financially successful, we are told to make money but we are not taught how to grow or manage it. Being wealthy translates into how much you have in your bank account, but in the real sense of it, being wealthy is how much you are able to keep in terms of assets that can pay you an income in the future. That is why people in our society rise from nothing to something and become broke again in no time due to lack of financial management skills.

THE SMART MONEY WOMAN

Though the principles in the book are universally applicable to both men and women, the book targets women because they are more vulnerable. Women are generally viewed by the society as frivolous. Even the disciplined women that save, do so to spend later. Women are groomed to get married and support their family by paying fees, rent etc. These things are not assets. African women should be taught how to build their financial future alongside their husbands.

TIPS ON HOW TO TURN YOUR MONEY INTO ASSETS

Goals

Many people don’t have goals. They make money but cannot articulate what they want the money to do for them. Nine of ten people do not have goals; what they have are wishes. A goal is making plans to get assets, researching on how to get those assets, budgeting, knowing what your limited resources can and cannot afford.

It is important to know that no matter how wealthy you are, your resources are limited. So, you must allocate them appropriately. You must ruthlessly cut unwanted expenses and prioritize your needs.

Income

Divide your income into three parts. 70% for living expenses, 20% for long term financial goals (that is to build your assets) and the remaining 10% towards short term goals like buying a car, a bag, etc.

Grow your business

It is important to reinvest, but drawing the line between saving and reinvesting is knowing that you are a separate entity from your business. Calculate your income from the business, pay yourself a salary and re-invest in the business. The salary will help you to build other assets different from the business. In this way, you are diversifying your risks.

Arese’s book addresses many more money issues like managing your debt, tracking your expenses, having a workable budget and of course investing in your financial future. Honestly, as an African woman, if you are looking for a way up the financial ladder, read The Smart Money Woman.

Grace Olumayowa Aideloje

Grace is a Writer, Editor and Proof-reader. She teaches Writing Classes and motivates young writers to follow their dreams until they see their names on books people rate as excellent. Her passion is to empower people through knowledge sharing. She is the initiator of the Christian WAR Forum.

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NEVER EVER GIVE UP ON YOUR DREAM

Dream Big, Think Positive, Take Risks, Embrace Challenges, Pursue Vision, Refuse to Quit and many more of phrases like these rule our world today. Well, I can tell you, they are easier said, taught or preached than done. In a world besieged with many unresolved crisis and problems covering every sphere of life, people are becoming more pessimistic than ever before.

These phrases may seem difficult to apply, but they work. If only we are willing and ready to work them. At the beginning of the year, I made some decisions, as many people do. By the third month, those resolutions were still hidden in my diary and at a point, I got angry with myself.

Why do I always abandon my personal projects?

I am not lazy. I work hard, sometimes too much for my own good, but there are some personal goals I set for myself year after year and I’m still unable to achieve.

So I got angry!

I looked inward.

I looked upward.

I looked outward.

I remembered many of these phrases that were suppose to push me towards achieving my goals and I decided to do what I preach.

Inwardly, I drew strength to continue; to take risks or steps of faith; to pursue vision.

Upwardly, I received grace from God to embrace the challenges and refuse to quit. His Word keeps my thoughts positive and makes me see that the future He has shown me is achievable.

Outwardly, I enjoyed help from my friends and dream supporters. Top on the list is my husband and cheerleader. In his own ways, he continues to prod me to realize those big dreams.

Well, four months later, came READ – The Big Deal About Reading.

A month after came the Musical Video of our Children’s Church in Winners’ Chapel International Gotera - Addis Ababa, Ethiopia. After months of dreaming and praying, more months of planning and practicing and still more months of restless days and sleepless nights, COME TO THE LORD’S HOUSE is released.

Like every project, it’s not a product of personal effort. Many people contributed spiritually, financially, creatively, physically and even emotionally. Ha ha ha. I can’t tell you the amount and varieties of emotions spent, especially on locations. The wonderful teachers in our Children's Church served tirelessly at various stages of the production. We had help from supporting parents, active youths and our beloved pastor. 

To the glory of God alone, the work is done and my prayer is that it will bless lives especially Christian Children worldwide.

I have learnt quite a lot from these two projects.

1.    Dream Big. Let your dream be bigger than you.

2. Share your dream with like-minded people who will help nurture and support it.

3.     Lean solely on God.

4.    Take steps. I mean, take practical steps. As you go, God goes with you.

5.    Work with people. You can never achieve your dreams all by yourself. Also remember that, there are dream killers and dream supporters.

6.  Never, never, ever, ever give up on that dream; no matter how difficult it seems, it is achievable.

Enjoy God’s Exceeding Grace

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