We all dream of wealth. Who doesn't want the prestige, the access to a better life, and the freedom to acquire anything they desire? That frustrating feeling of seeing something perfect and being unable to buy it, or the stress of overdue loan reminders and the dreaded CRB threat. These are experiences most of us want to avoid. Maintaining a good credit score, for me, is a point of pride; it reflects organization and discipline, traits I value deeply.
While the desire for riches is universal, the journey to attaining it unfolds differently for everyone. I believe those destined for true wealth often face significant challenges, which serve as a refining fire. Just as gold is purified by intense heat, we too are reshaped and improved by the trials we endure. The crucial element, however, is our willingness to embrace this transformation. We must be receptive to change and ready to be molded into the individuals we aspire to become.
The Spiritual Side of Money
Wealth extends beyond mere financial accumulation; it encompasses our mental and spiritual well-being. We've all heard stories of people who gain immense wealth only to lose it quickly. This often happens because they approach money from a purely physical perspective, overlooking its spiritual dimension. Money, as many say, is indeed spiritual. How we treat it directly influences whether it flows towards us or away from us.
If you habitually disrespect money, spending recklessly, crumpling bills, and tossing them carelessly into your bag, it will likely evade you. Conversely, if you handle money with care, even old bills, practice tithing, and give wisely, you’ll find it drawn to you.
Money: Master or Servant?
Another powerful concept is that money can be either your master or your servant. The choice is yours. Money becomes your master when it dictates your decisions, leaving you constantly trying to keep up. But when you instruct your money, you become the master, and that's where true financial empowerment lies. You achieve this by creating an effective budget, living below your means, and, crucially, learning to pay yourself first.
I resonate deeply with Robert Kiyosaki’s philosophy from "Rich Dad Poor Dad," where his rich dad advised paying himself first, even if it meant bills went unpaid temporarily. The pressure from creditors then spurred him to innovate and create new income streams. I've personally adopted this strategy, and it has been transformative. Initially, it felt impossible, but it pushed me to develop new ways to generate income.
Monetizing Your Talents
One of the most effective ways I've increased my earnings is by monetizing my talent. I'm skilled at braiding hair—so good, in fact, that I even do my own! While my corporate job left little time for it, I started small. I practiced easy hairstyles on myself, timing my process and perfecting my technique to work faster and more efficiently. The key was simply to start.
Taking that first step enabled me to refine my craft and build confidence. Soon, I was braiding my neighbors' hair on weekends, earning close to KShs.2,000 in less than five hours. What truly motivated me was the realization that by paying myself first, I had to find additional income; otherwise, I wouldn't have met my rent or transport costs for the month.
My Personal Financial Journey
My "pay yourself first" strategy began with 10% of my income. I consistently paid myself this amount while diligently clearing my debts. After about nine months of pure sacrifice, all my debts were gone. From there, I gradually increased my self-payment to 20% of my income, and eventually, to half of my income. These payments are directed into savings and investments.
My ultimate goal is to reach a point where my money generates passive income, allowing me to earn without directly exchanging my time and energy. This journey is challenging, demanding sacrifice, a clear understanding of your "why," consistency, and resilience. Without these, wealth will remain an elusive dream, seemingly reserved for a select few. But in reality, it's accessible to anyone willing to put in the effort and do what it takes.
I'll see you next time. Have a good one!
Sincerely,
Jacqeline Mutuma.
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