You shouldn’t confuse wealth with prosperity. Wealth is abundance of properties and money. Prosperity is no lack i.e wealth, health, peace, protection, grace etc. Therefore, wealth is much less than prosperity. Prosperity, therefore involve the fruit of the spirit. You cannot price prosperity. The box-chest of prosperity includes victory, good health, preservation and protection, meeting and seizing good opportunities, and reward.
The building blocks can be summarised in 16 steps below:
1 Paying to God at least 10% of all your monthly income including material gifts.
2 Paying to yourself at least 10% of all your income every month and save this in a dedicated account.
3 Open savings account for all your family members, and save at least 10% of your monthly income proportionately as would be determined by you and your spouse.
4 Cultivate the attitude of putting aside at least 10% into an emergency account to take care of other extended family members’ request on monthly basis.
5 Use the remaining 60% of your monthly income to provide the good things of life for the members of your family.
6 Understand the difference between assets and liabilities, and decide to increase assets, and reduce the acquisition of liabilities.
7 Pay up all your debts on monthly basis, or buy only what the 60% of your income can accommodate. If it is not enough, go and do more work to earn more.
8 Never spend more than your income. It will put you into debt. Do more work or reduce your expenditure.
9 Seek knowledge on how to manage finances by reading books and engaging the services of experts who understand the language of money.
10 You must stop impressing people with materials things. The main reason for impoverishment amongst people today is ostentatious living.
11 Open fixed deposit account, and let your money work for you and make more money. Invest in Treasury bills, but listen to expert advice.
12 Buy shares/stocks in viable and blue chips companies. Your money manager and stock broker will advice you on the right stock/company to invest in. This is a good inheritance for your family.
13 Invest in Real Estate business. Buy old homes in good location with excellent advice from Estate/Property Agencies. Your net worth will increase will increase with time.
14 Set up a business, or become an entrepreneur. Employ people with education, let them use their brain and time to make more money for you. This is the apex of building wealth and prosperity. There will always be a need or service to render in your community, area or neighbourhood.
15 Get a family lawyer to write your WILL once you discover that your asset level is increasing. Your lawyer will give the legal advice as to how to proceed.
16 Prepare not to leave liabilities to your wife and family now. Let your children have the best education you can afford. Give them all the best of life you can afford, but never be prodigal.
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