In this article, we use a case study to illustrate some of the common dilemmas faced by people facing sudden job loss. This is a fictitious story and any resemblance to a real life situation is purely coincidental.Jared and Mercy are thirty-eight and thirty five-years old respectively who have enjoyed their careers in the hospitality …
Case study: Managing finances through a job loss Read More »
WHAT IS SEEKING FIRST THE KINGDOM OF GOD AND HIS RIGHTEOUSNESS? Building spiritual capital as a Christian requires that you adopt the biblical worldview in all aspects of life enabling you to find meaning, purpose in life, and establish values that guide your decisions and actions. The scriptures become the reference point providing clarity and …
Personal financial planning is the process of developing a strategy, a road map or a plan of allocating financial resources to specific purposes to achieve a desired outcome. Like any strategy development of an organization, this takes place in a context or framework. Each organization is set up to achieve a specific purpose, most serve …
When you lose your job, you go through the five stages of grief, which are, denial, anger, bargaining, depression and acceptance. Psychologists tell us that you do not have a linear grief process where you neatly move from one stage to another but you keep going back and forth. Do not be surprised if you …
Social capital is the value obtained from social relationships arising out of bonding between people with similar interests and in most cases resulting in reciprocity. A key aspect of social capital is building and maintaining trust, hence necessitating consistent investment and nurturing. Family, friends and colleagues at work or members of a group are some …
PRINCIPLE 4: THE PRINCIPLE OF HAVING A LONG-TERM PERSPECTIVE This principle relates to how you build your financial house. Building a solid financial capital requires not only a solid foundation but also a strong structure that balances the immediate, short-term and long-term needs to enable you pursue your goals as well as weather a variety …
Our interactions with finances will last a lifetime. For this reason, building a financially prosperous life that
While debt is one of the means of meeting financial needs, it definitely is not the only way but it is one often misused. Debt enables you to enjoy a purchase now as you pay for it later. Debt creates an illusion of prosperity to both the borrower and observer due to the visible display …
The statement ‘cash is king’ is commonly used in the business world to signify the importance of having resources in cash form that can be deployed immediately to meet financial needs. Without liquidity: the ability to meet financial obligations as they fall due, businesses collapse irrespective of their asset base and profitability status. Similarly, most …
WHY SPEND LESS THAN YOU EARN You probably have heard the statements “spend less than you earn” or “live below your means” from various sources. While they may sound obvious, many people struggle to apply the principle in their finances. Yet, all other money management principles are effective only if you set aside some of …
