Financial Intelligence - How Possible?


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Financial Intelligence - How Possible? » 18 Jun 2016, 11:29 am by Jegz (m) from FCT

Today online, I stumbled upon a comedian turned professional financial adviser who is now hell bent on turning everyone into a millionaire. Can he succeed? Yes he can.

But notable most of his analogy is the fact that he reiterated that our progress in financial mastery irrespective of our pay grade is linked mainly to our spending habit. He used this toilet paper illustration. And also established that not spending does not mean saving.
Financial-Intelligence.gif

I opened this thread to share what I learned shortly from his site. #petetheplanner

Stay tuned. Read on below after the cut.


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Re: Financial Intelligence - How Possible? » 18 Jun 2016, 11:54 am by Jegz (m) from FCT

THE TOILET PAPER ILLUSTRATION
Toilet tissue paper? What does this have to do with financial intelligence and spending habits? This gist is particularly useful to salary earners who live mainly on paychecks and who are seemingly caught in the make-it-and-spend-it rat race pandemonium. I was once in your shoes.

The reality is... The more your salary, the more your desires, spending strengths and also your debts. Our life style is amplified by our money - the available resources. Now, consider the toilet tissue paper.

The reasoning: Our spending is influenced by the amount of available resources!
Consider you being in the toilet and you have at your disposal:
full-toilet-paper.jpg


What do you do? You use it like rain water! You can even take 5 - 6 plies, just wiping and using again and again. Thats because you have so much of it (so much money!)

Is that how you do when you just collected your salary?

The imagine when the table turns, you rush into the toilet, only to find this:
.
.
.
.
.
minimal-toilet-paper.jpg


What do you do? You have to use this carefully! Or you embarrass yourself.

Finally, what if this was the case:
.
.
..
.
tiny-toilet-paper.jpg


Hmmm.

Got the message? Financial intelligence when it comes to spending requires we exercise self control. Don't spend so much just because you have a lot of resources.

Spend intellgently. Go for things you need only!

Next, we examine the NOT SPENDING DOES NOT MEAN SAVING lesson.

Stay tuned. :mrgreen:

- an energetic young man whose shy demeanor conceals in him a steel-trap mind of tremendous intellectual capacity and force....

Re: Financial Intelligence - How Possible? » 18 Jun 2016, 10:10 pm by ebony (f)

I like that. Good illustration.

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Re: Financial Intelligence - How Possible? » 30 Dec 2016, 6:38 am by eMade (f) from Abuja

Go on...

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Re: Financial Intelligence - How Possible? » 09 Jan 2017, 11:54 pm by chike-michael

This is nice, at least I learnt something from this. Keep it up, nice one.

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Re: Financial Intelligence - How Possible? » 10 Jan 2017, 7:53 am by Jegz (m) from FCT

Impulse spending is an enemy of progress. Some can master this naturally, especially the misers. But the ordinary man may need to put in more effort and self control to overcome this. Don't spend it the way it comes. Exercise self control and ask yourself:

Do I need to buy this? NEED! not WANT! Considering the effort you put to earn this money, is it justified if I spend it on this thing? These questions will help checkmate impulse spending.

- an energetic young man whose shy demeanor conceals in him a steel-trap mind of tremendous intellectual capacity and force....

Re: Financial Intelligence - How Possible? » 10 Jan 2017, 7:55 am by eMade (f) from Abuja

Amazing. At this period of global financial crises, spending senselessly should be the last thing to do.

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Re: Financial Intelligence - How Possible? » 12 Jan 2017, 7:54 pm by mr-fabulous

y comtemplate on this, a lot of theories had being propounded yet nothing changes... So y dis one... Pls do not misquote me, am not criticising just a comment.



Re: Financial Intelligence - How Possible? » 12 Jan 2017, 7:56 pm by mr-fabulous

y comtemplate on this, a lot of theories had being propounded yet nothing changes... So y dis one... Pls do not misquote me, am not criticising just a comment.



Re: Financial Intelligence - How Possible? » 14 Jan 2017, 2:18 pm by InfoMan

I like this. Bring them coming.



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