The phrase is used most times in the day to day relationship of people which denotes a feeling of the boundary limits which has been stepped or crossed by another. But hopefully in this context, we are not going into the ride of relationships of people but diving in to decipher what these phrase means in another field which is the financial world.

Looking at our educational system in these generation and other generations too with a view of Africa as a case study, the trend of the society towards financial success is go to a good school, make good grades, secure a job with a high rated company, work your way through the ranks, get raises or salary increases, some job endowments such as a house, car and good retirement benefits. These mentality has eaten deep into the fabric of our educational system. Financial education is the least taught- field in our schools and this has channeled the students’ mentality on getting good jobs with the hope of a financial security. But in reality, these so salaries gotten from these jobs are barely enough to satisfy our needs, so we tend to work for a raise or attain a higher level with a higher pay, but the problem is this ,as our income increases so our expenses also increase proportionally, the desire to own a more luxurious home, car and more cool stuffs that our higher salary can buy and at the end we are left with more or less nothing and we work harder again for an increased salary as the cycle continues.

One thing is sure in these world, among the richest people in the world, none of them works for a pay after the end of a month. Rich people make their money work for them hiring the poor and the middle to achieve and aims and increase their wealth. There is a distinction between one’s profession/job and one’s business. Your business is that which does not require your presence, they are managed and run by other people and revolves around our asset column. That brings us to the divide between assets and Liabilities.

Assets in its most basic form are those things that add money to your pocket/bank, while on the other hand, Liabilities are those things that take our money from you. So our business tends towards things that add value and wealth to us which can be in various forms such as stocks, bonds, real estate, online investments etc. These businesses don’t require your presence for it to yield profit.

So as a young person to be financially free and reach a height of wealth, we should put more effort in minding our business and build your assets even as we maintain our day time job. Let’s not spend the whole of our life working and creating wealth for another. Let your money work for you instead of working for money. One difference between the rich and the poor is that the poor eat up their capital in debts and liabilities which they accumulate, and as they get a pay raise they even spend more on luxury; the rich on the other hand, invest their capital into assets, incurring less liabilities and spend the profits from their assets in luxury while the head capital still yields more money for them.

One thing to always keep in mind, none of the richest people in the world got to that point by working for someone and earning a salary, but they minded their business, built their assets and allowed their money to work for them.

“Don’t spend your Capital” “Build your assets column” “Break free from the world set financial maze”.

Thanks for your time.