Over the past decades and till now, creativity had always been associated to literary works or painting great works of art. But this phenomenon should be seen as old fashioned, in this current contemporary world.
Creativity in the actual sense is a natural characteristics of all human being, in regardless of age, race, sex or religion, that is every man, has a certain level of creativity deposited in them, but this level of creativity defer from one person to another.
Creativity can then be said to be doing an old or existing thing in a more unique way or it could be coming out with a new idea or system, on a new area of interest for example assuming you are heading for an important and on your way, you discover an impassable obstruction on the road, then you decide to take an alternate route. What would you say you are doing? You are engaging in highly creative act or put in another way, getting dressed in the morning, when you match your ties, shirt, shoes, trousers, skirts blouse, make up, shoes, etc. Together to make a credible impression then you are highly engaging in an act of creativity.
Also, the ability of solving the pressing need of people or by profering a concrete solution to a particular problem, can also be form as an act of creativity. Within the context of this article, financial creativity is therefore the ability to create or develop a new idea on a particular area of interest, which is capable of making you realizing your financial goals. This particular area of interest in question could be on production, Education, Business, Technology, etc.
This idea could be a new idea on a new innovation, or it could be a new idea, on an old or existing innovation. As I said earlier in this article that the act of being creative is to solve problems and to give solution to some critical problem. For instance, there was a time that people cannot traveled from one country to another or traveling a long distance, therefore making international trade to be somewhat difficult, but with the invention of
Aeroplane, ship, and other transport medium, people can now move from one territory to another, and they can now traveled a long distance, within a short time. Also the innovation had also made international trade to be possible. Moreover, there was a time that it is impossible for someone who is in canade, to meet and make now friend with someone in Nigeria, within a couple of time or minutes. Also there was a period that it is impossible for two people to do business without feeing each other. But today, the story has changed, with the advent of computer system and the internet, it is now possible for people to meet and make friend as often as possible, and even people can now transact business without even seeing each offer. Thanks a lot to the effortless work of science and technology. There are still others areas but let leave it there. By now I hope you should be guessing and thinking about these people that came up with this great ideas and innovatation, what there financial standard would be by now? The answer is very much simple, this group of people and their generation will continue to make more money. Infact let me put it in this way, they will not lack anything call money and other goods things of life. Somebody who is also in this category, and whose idea is still counting is the “Microsoft Father:, and a former number one richest man in the world in person of Mr. Bill Gate.
Since the main niche on this blog is to teach people how to cope and manage their finances, live above inflation in any economy situation and how to break a way from poverty. Financial creativity is therefore the ability of getting ideas on those activities that is capable of generating constant cash flows and income into your account. This activities could be getting to provide solution to the economic and social need of people through your ideas and skills. Say in a particular society you discover that there pressing need is closed having determine this problem then you can decide to establish a textile factory in that area or maybe you research that the pressing need of the people is food then you can go ahead to establish a food processing company. Hence, this activities and attitude of solving the problem of the people by providing for what they need at a particular time,can be term as an act of financial creativity.At this juncture,i want to categorically tell you states that,if at a particular time,you are providing what the people do not want,you are not being financially creative.for example,if the pressing neeedof the people in an area is housing,and you go ahead to astablished an automobile company.I assure you 100% that,no one will patronise you,because what you are giving does not solve the pressing need of the people.
The art of being financially creative can go a long way in our aspiration for attaining a desirable level of financial freedom.this is because,the level youare financially at a particular time depends on the degree of your financial creativity..
FACTORS STIMULATING FINANCIAL CREATIVITY
1.IDEAS ideas rules the world tehy say, since creativity is all about haviving an idea, i.e your level of financial creativity is largely depends on your level of ideas.imagine somebody who does not know the importance and had not heard about financial freedom cannot in any way be creative when comes to financial matters.For someone who had gotten an orientation on financial freedom, will one to do everything possible to be financially free.Hence, you can deduce that the various step or approach in attaining financail freedom is the act of being financially creative
· But because of the central role of your very self concept, the more you beelive in yourself to be creative, the more you generate ideas in your struggle of attaining a desirable level of financialstandard.By being financially creative you be creating business where there is non before, you will be making profit where is non before, you will be creating jobs where there is non before, you will be paying tax where there is no tax to be pay before and in the long run, you will be creating diverse business opportunity where non exist before
2. INFORMATION Merely getting an idea on something dose make you anything. you need and accurate information on how to work on those idea you already got. Hence, this means that your level of financial creativity can only thrive base on sound and accurate information. for instance, someone who has gotten an idea on investment in stock, though he has gotten an idea, but he had no information on stock acquisition and desposition, he had no knowledge on the function of stockbroker, financial adviser, registrar,SEC,etc. Such a person can be said to be operating in abject ignorance. Researching for more and accurate information on your ideas, will cause you to prospect, explore, and identifying needs and proferring solution to a particular problem, which in turn can you a financial giant. The more intensely you desire to achieve a clear and specific financial goal, the more your level of financial creativity will be towards accomplishing those goals.
3. ACTION: according to thr newton law of motion,which states that everything remains in astate of rest,until a force is applied.Now,after getting the ideas and obtain the necessary information,the next phase of motivating and sharpening your financial creativity is to put it into ACTION.Mark my word,if you read all the books in the universe,you can make all great plans,you can think of.I bet you without concrete action on those plans,you are going nowhere.If you are going to achieve success in any area of life,then action is require from you.Remember,if you don't move,nothing move.
Wednesday, January 7, 2009
Saturday, December 6, 2008
attining financial standard through different source of income
But how would we have fared if our production levels plummeted because of some plant or animal disease or a mine cave-in, or if a general glut decimated price levels?
And during the good times, how would we have stored our wealth safely and in a manner that generated growth before the advent of secure banks and regulated stock and bond markets?
You get the picture...
Today, in any nation where free enterprise reigns and where capital markets exist, there is an opportunity for regular people like you and me to earn a living in many, many, many ways! Nonetheless, most of us would still be better served honing our skills in one area of expertise rather than by dissipating our efforts in too many arenas.
So, are you a successful executive, sales person, doctor, lawyer, accountant, financial planner, pilot or dentist? Or are you a striving, struggling actor, artist, writer or poet?
The bottomline is it really doesn't matter what you do, as long as you do it well today and have a plan to continually improve your skills.
In our day and age, as long as we're capable of bringing in income, we are - at least in principle - able to create long-lasting wealth.
With numerous ways to turn a single active income source into lots of semi-active or wholly passive income sources, isn't it ironic that so few people ever bother to get to first base in this game?
Since you've penetrated so deep into this article already, chances are excellent that you are - or have the potential to be - among the elite minority of our 21st century. My assumption: You desire financial success in your life AND are willing to pay the price for it.
Consider then this simple but ever so powerful 3-part formula to long-term financial success:
1. Work hard to earn a decent wage;
2. Arrange your affairs so that you spend less than you earn;
3. Save and invest the difference... for a long, long time!
The manner in which you save and invest will determine whether you fail or succeed in moving from the, sadly, still conventional and thus 'normal' human condition of having just a single income source to the superior state of having many such streams.
Be warned, though: To succeed at this game, you must relinquish any residual negative attitudes about having lots of money. Many of us come from backgrounds that have imprinted our psyches with attitudes like...
rich people are evil
money is the root of all evil
money isn't important
It is interesting that the second of the three attitudes listed above is a very, very common misquotation (and misinterpretation) of a famous line from the Bible.
What the Good Book actually says (I suggest you not take my word for it but double check it for yourself in 1 Timothy 6:10a) is that '... the love of money is the root of all evil'.
I believe what that means is dangerous problems arise when we turn money into an idol, an end in itself, instead using it as a tool, as a means to achieve much greater, grander, more inspirational ends.
Because it will take awesome sacrifice, hard work and patience to get to the point where you have many sources of income instead of just one, it might be helpful for you to read how one of the richest men of his era felt about this subject.
America's 19th century steel king, Andrew Carnegie, once wrote an intriguingly entitled essay, The Gospel of Wealth, in which he stated:
"The fundamental idea of the gospel of wealth is that surplus wealth should be considered as a sacred trust to be administered by those into whose hands it falls, during their lives, for the good of the community."
If you reckon that making the world a better place is a good reason for you to improve your money management skills, here are 3 things you can do:
First, invest in yourself by reading and thinking about your area of primary expertise, then do the same on the subject of money.
Frankly, the more you know about your own area of employment or business, the more likely you are to be promoted by an employer or hired by richer clients. And the more you know about finance, the less likely you are to become helpless bait for (financial) sharks who prey on the naive and gullible.
Doing so will allow you learn more about sound savings and investment options.
Second, begin to save some of your money in different fixed deposits (FDs) or certificates of deposit (CDs). Start small and opt for short tenures to begin with so that you get encouraged by the inflow of passive income into your main bank account intermittently throughout the year.
This will help you develop an appreciation for passive income.
Third, over the next few years, expand your sources of active income by considering starting side businesses (as long as these don't compromise your position with your primary employer), and multiply your sources of passive income by saving and investing your money in income generating instruments like bank accounts, money market funds, bond funds, equity funds, dividend yielding stocks, real estate investment trusts, and even rental property.
Putting each little 'brick' in place will take patience and a relatively rare willingness to give up consumption today to create a fresh, potentially perpetual income stream tomorrow.
If you are able to stick to your programme over the next decade or two you will wake up one morning to the wonderful realisation that your passive income sources are bringing in a deluge of money that exceeds your active income source, and which outstrips your personal and your family's cash requirements.
The day that happens will be the day you achieve true financial freedom.
Now only one thing remains for you to act on. Ask yourself if that distant goal is worth exerting yourself for. If you remain unsure, think back to what Carnegie alluded to:
The trickle or stream or gusher of cash you create through intelligent saving and investing may be used to not only improve your life and your loved ones' but also those of future generations.
So, ask yourself: Could leaving such a legacy be your highest calling or destiny?
And during the good times, how would we have stored our wealth safely and in a manner that generated growth before the advent of secure banks and regulated stock and bond markets?
You get the picture...
Today, in any nation where free enterprise reigns and where capital markets exist, there is an opportunity for regular people like you and me to earn a living in many, many, many ways! Nonetheless, most of us would still be better served honing our skills in one area of expertise rather than by dissipating our efforts in too many arenas.
So, are you a successful executive, sales person, doctor, lawyer, accountant, financial planner, pilot or dentist? Or are you a striving, struggling actor, artist, writer or poet?
The bottomline is it really doesn't matter what you do, as long as you do it well today and have a plan to continually improve your skills.
In our day and age, as long as we're capable of bringing in income, we are - at least in principle - able to create long-lasting wealth.
With numerous ways to turn a single active income source into lots of semi-active or wholly passive income sources, isn't it ironic that so few people ever bother to get to first base in this game?
Since you've penetrated so deep into this article already, chances are excellent that you are - or have the potential to be - among the elite minority of our 21st century. My assumption: You desire financial success in your life AND are willing to pay the price for it.
Consider then this simple but ever so powerful 3-part formula to long-term financial success:
1. Work hard to earn a decent wage;
2. Arrange your affairs so that you spend less than you earn;
3. Save and invest the difference... for a long, long time!
The manner in which you save and invest will determine whether you fail or succeed in moving from the, sadly, still conventional and thus 'normal' human condition of having just a single income source to the superior state of having many such streams.
Be warned, though: To succeed at this game, you must relinquish any residual negative attitudes about having lots of money. Many of us come from backgrounds that have imprinted our psyches with attitudes like...
rich people are evil
money is the root of all evil
money isn't important
It is interesting that the second of the three attitudes listed above is a very, very common misquotation (and misinterpretation) of a famous line from the Bible.
What the Good Book actually says (I suggest you not take my word for it but double check it for yourself in 1 Timothy 6:10a) is that '... the love of money is the root of all evil'.
I believe what that means is dangerous problems arise when we turn money into an idol, an end in itself, instead using it as a tool, as a means to achieve much greater, grander, more inspirational ends.
Because it will take awesome sacrifice, hard work and patience to get to the point where you have many sources of income instead of just one, it might be helpful for you to read how one of the richest men of his era felt about this subject.
America's 19th century steel king, Andrew Carnegie, once wrote an intriguingly entitled essay, The Gospel of Wealth, in which he stated:
"The fundamental idea of the gospel of wealth is that surplus wealth should be considered as a sacred trust to be administered by those into whose hands it falls, during their lives, for the good of the community."
If you reckon that making the world a better place is a good reason for you to improve your money management skills, here are 3 things you can do:
First, invest in yourself by reading and thinking about your area of primary expertise, then do the same on the subject of money.
Frankly, the more you know about your own area of employment or business, the more likely you are to be promoted by an employer or hired by richer clients. And the more you know about finance, the less likely you are to become helpless bait for (financial) sharks who prey on the naive and gullible.
Doing so will allow you learn more about sound savings and investment options.
Second, begin to save some of your money in different fixed deposits (FDs) or certificates of deposit (CDs). Start small and opt for short tenures to begin with so that you get encouraged by the inflow of passive income into your main bank account intermittently throughout the year.
This will help you develop an appreciation for passive income.
Third, over the next few years, expand your sources of active income by considering starting side businesses (as long as these don't compromise your position with your primary employer), and multiply your sources of passive income by saving and investing your money in income generating instruments like bank accounts, money market funds, bond funds, equity funds, dividend yielding stocks, real estate investment trusts, and even rental property.
Putting each little 'brick' in place will take patience and a relatively rare willingness to give up consumption today to create a fresh, potentially perpetual income stream tomorrow.
If you are able to stick to your programme over the next decade or two you will wake up one morning to the wonderful realisation that your passive income sources are bringing in a deluge of money that exceeds your active income source, and which outstrips your personal and your family's cash requirements.
The day that happens will be the day you achieve true financial freedom.
Now only one thing remains for you to act on. Ask yourself if that distant goal is worth exerting yourself for. If you remain unsure, think back to what Carnegie alluded to:
The trickle or stream or gusher of cash you create through intelligent saving and investing may be used to not only improve your life and your loved ones' but also those of future generations.
So, ask yourself: Could leaving such a legacy be your highest calling or destiny?
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