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The 4 Greatest Enemies To Your Financial Success
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Ngundi
#1 Posted : Monday, April 13, 2015 1:53:39 PM
Rank: Member


Joined: 5/8/2008
Posts: 20
1. Lack of self discipline - Self-discipline is the power to take control of your ideas and actions with a view of achieving personal growth and development. Lack of self discipline therefore snatches the control aspect from you which makes it practically hard for you to achieve personal growth or development which includes financial success.

2. Debts - There are good debts and bad debts. Good debt enables you to acquire investments that return profits which are used to repay the same debts and acquire more and bigger investments. Bad debt goes down the drain the moment you spend it. All consumer loans are bad debts.


3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

4. Lack of purpose – Purpose is what a person was created to do on earth. A person without purpose is like a ship without a rudder – he has no sense of direction and will be blown astray by any wind. With a clear cut purpose, a person will be able to align financial goals to her purpose and achieve great success while implementing those goals.

You are the one success wants. Jump in it!
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Paul Owuor
#2 Posted : Monday, April 13, 2015 3:01:10 PM
Rank: New-farer


Joined: 7/3/2011
Posts: 30
Location: Nairobi
Applause Applause Applause Applause Applause A five star clap for you.
Ngundi wrote:
1. Lack of self discipline - Self-discipline is the power to take control of your ideas and actions with a view of achieving personal growth and development. Lack of self discipline therefore snatches the control aspect from you which makes it practically hard for you to achieve personal growth or development which includes financial success.

2. Debts - There are good debts and bad debts. Good debt enables you to acquire investments that return profits which are used to repay the same debts and acquire more and bigger investments. Bad debt goes down the drain the moment you spend it. All consumer loans are bad debts.


3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

4. Lack of purpose – Purpose is what a person was created to do on earth. A person without purpose is like a ship without a rudder – he has no sense of direction and will be blown astray by any wind. With a clear cut purpose, a person will be able to align financial goals to her purpose and achieve great success while implementing those goals.

You are the one success wants. Jump in it!

I used to be a pig but I am now a bull-bear hybrid.
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Jus Blazin
#3 Posted : Monday, April 13, 2015 8:19:58 PM
Rank: Elder


Joined: 10/23/2008
Posts: 3,966
Ngundi wrote:
3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

What if you dont have the capital? Rather, is lacking enough capital an excuse or a sufficient reason?
Luck is when Preparation meets Opportunity. ~ Lucius Annaeus Seneca
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Swenani
#4 Posted : Monday, April 13, 2015 9:13:45 PM
Rank: User


Joined: 8/15/2013
Posts: 13,236
Location: Vacuum
Jus Blazin wrote:
Ngundi wrote:
3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

What if you dont have the capital? Rather, is lacking enough capital an excuse or a sufficient reason?



Wacha mchezo JB,Umewahi kosa capitalya mbuzi?
If Obiero did it, Who Am I?
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MaichBlack
#5 Posted : Monday, April 13, 2015 9:27:15 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,452
Jus Blazin wrote:
Ngundi wrote:
3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

What if you dont have the capital? Rather, is lacking enough capital an excuse or a sufficient reason?

Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Lolest!
#6 Posted : Tuesday, April 14, 2015 5:54:19 AM
Rank: Elder


Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
Swenani wrote:
Jus Blazin wrote:
Ngundi wrote:
3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

What if you dont have the capital? Rather, is lacking enough capital an excuse or a sufficient reason?



Wacha mchezo JB,Umewahi kosa capitalya mbuzi?

Laughing out loudly Laughing out loudly
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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Ngundi
#7 Posted : Tuesday, April 14, 2015 8:02:38 AM
Rank: Member


Joined: 5/8/2008
Posts: 20
Lolest! wrote:
Swenani wrote:
Jus Blazin wrote:
Ngundi wrote:
3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

What if you dont have the capital? Rather, is lacking enough capital an excuse or a sufficient reason?



Wacha mchezo JB,Umewahi kosa capitalya mbuzi?

Laughing out loudly Laughing out loudly


smile smile

You guys are the Best.
But to answer our dear friend J.B., I would say that "Lacking enough capital" should NEVER be a sufficient reason. Have you ever heard of the saying "Find a great deal (opportunity) and the money will follow"?

What this means is that a good deal will always attract money and the source can be your own savings or OPM ( Other People's Money). For, OPM, consider a situation whereby a legal entity may be interested in jumping in the dhow with you.

Upon maturity, you will then have to share your mchuzi(Returns) with this legal entity......which is always better than NO 'mchuzi' at all!
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vin
#8 Posted : Tuesday, April 14, 2015 1:10:22 PM
Rank: Member


Joined: 1/22/2007
Posts: 336
Very good information.but to get it right,how financially successful are you.Kuhubiri na ketenda ni vitu tofauti kabisaa.



Ngundi wrote:
1. Lack of self discipline - Self-discipline is the power to take control of your ideas and actions with a view of achieving personal growth and development. Lack of self discipline therefore snatches the control aspect from you which makes it practically hard for you to achieve personal growth or development which includes financial success.

2. Debts - There are good debts and bad debts. Good debt enables you to acquire investments that return profits which are used to repay the same debts and acquire more and bigger investments. Bad debt goes down the drain the moment you spend it. All consumer loans are bad debts.


3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

4. Lack of purpose – Purpose is what a person was created to do on earth. A person without purpose is like a ship without a rudder – he has no sense of direction and will be blown astray by any wind. With a clear cut purpose, a person will be able to align financial goals to her purpose and achieve great success while implementing those goals.

You are the one success wants. Jump in it!

Advice is like snow.The softer it lands the harder is sticks.
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kiwaru
#9 Posted : Tuesday, April 14, 2015 4:05:04 PM
Rank: Member


Joined: 8/5/2011
Posts: 125
@Ngundi, where do you classify mortgage for owner occupier with regards to whether its a consumer loan or an investment

Ngundi wrote:
1. Lack of self discipline - Self-discipline is the power to take control of your ideas and actions with a view of achieving personal growth and development. Lack of self discipline therefore snatches the control aspect from you which makes it practically hard for you to achieve personal growth or development which includes financial success.

2. Debts - There are good debts and bad debts. Good debt enables you to acquire investments that return profits which are used to repay the same debts and acquire more and bigger investments. Bad debt goes down the drain the moment you spend it. All consumer loans are bad debts.


3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

4. Lack of purpose – Purpose is what a person was created to do on earth. A person without purpose is like a ship without a rudder – he has no sense of direction and will be blown astray by any wind. With a clear cut purpose, a person will be able to align financial goals to her purpose and achieve great success while implementing those goals.

You are the one success wants. Jump in it!
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Ngundi
#10 Posted : Tuesday, April 14, 2015 6:15:59 PM
Rank: Member


Joined: 5/8/2008
Posts: 20
kiwaru wrote:
@Ngundi, where do you classify mortgage for owner occupier with regards to whether its a consumer loan or an investment


Dear Kiwaru,

To consider Mortgage for owner-occupier as an INVESTMENT, I will first follow the business definition of investment as, “an engagement where a person commits money NOW and receives future RETURNS without suffering depreciation on the initial commitment”.

In view of this, mortgage will only qualify as an investment if:

a) The owner occupier receives NET GAIN on the house after deducting mortgage payments and related costs from all perceived benefits that come from owning the house.
Some people say that all houses appreciate in value but I believe this is subjective.
If Total Mortgage Payments + related maintenance and service fees are GREATER than Total savings on rent + sentimental benefits e.g. convenience, security, space, peace of mind etc, then I may hesitate to call this house an investment.

b) Where my mortgaged house requires me to dig deeper in my pockets every month to service the debt, I may look for a better option despite the greater benefit I may get after clearing the debt, probably after 15 to 25 years of ‘torturing’ my pockets.

Anyway Kiwaru, this is my 50 cents and I think we are going to hear more from great Wazua minds on this topic.

Be blessed
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Chaka
#11 Posted : Tuesday, April 14, 2015 9:22:44 PM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
Ngundi wrote:
1. Lack of self discipline - Self-discipline is the power to take control of your ideas and actions with a view of achieving personal growth and development. Lack of self discipline therefore snatches the control aspect from you which makes it practically hard for you to achieve personal growth or development which includes financial success.

2. Debts - There are good debts and bad debts. Good debt enables you to acquire investments that return profits which are used to repay the same debts and acquire more and bigger investments. Bad debt goes down the drain the moment you spend it. All consumer loans are bad debts.


3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

4. Lack of purpose – Purpose is what a person was created to do on earth. A person without purpose is like a ship without a rudder – he has no sense of direction and will be blown astray by any wind. With a clear cut purpose, a person will be able to align financial goals to her purpose and achieve great success while implementing those goals.

You are the one success wants. Jump in it!

Are these your thoughts or is it C&P?
I would have loved to see this on your list:
i)Pay yourself first
ii)Have a budget
iii)Spend less than what you earn.
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Ngundi
#12 Posted : Wednesday, April 15, 2015 8:04:55 AM
Rank: Member


Joined: 5/8/2008
Posts: 20
Chaka wrote:

Are these your thoughts or is it C&P?
I would have loved to see this on your list:
i)Pay yourself first
ii)Have a budget
iii)Spend less than what you earn.


Hi Chaka
You can read my full article Here
My post is on Hindrances to Financial Success.
What you pointed out are steps on "How to achieve Financial Success".
Thanks
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Mukiri
#13 Posted : Thursday, April 16, 2015 11:14:44 PM
Rank: Elder


Joined: 7/11/2012
Posts: 5,222
Paul Owuor wrote:
Applause Applause Applause Applause Applause A five star clap for you.
Ngundi wrote:
1. Lack of self discipline - Self-discipline is the power to take control of your ideas and actions with a view of achieving personal growth and development. Lack of self discipline therefore snatches the control aspect from you which makes it practically hard for you to achieve personal growth or development which includes financial success.

2. Debts - There are good debts and bad debts. Good debt enables you to acquire investments that return profits which are used to repay the same debts and acquire more and bigger investments. Bad debt goes down the drain the moment you spend it. All consumer loans are bad debts.


3. Procrastination - Procrastination is the practice of putting off impending tasks to a later time, sometimes to the last minute before a deadline. Majority of us miss out on great investment opportunities on the excuse that they don’t have enough capital or they will take up the next investment that comes by.

4. Lack of purpose – Purpose is what a person was created to do on earth. A person without purpose is like a ship without a rudder – he has no sense of direction and will be blown astray by any wind. With a clear cut purpose, a person will be able to align financial goals to her purpose and achieve great success while implementing those goals.

You are the one success wants. Jump in it!


Hii ata 5 star in kidogoApplause Applause smile

Proverbs 19:21
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