Where Is My Money: Money Intelligence For Success In Life And Career
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About this ebook
Have you had the privilege to search for your money?
You withdrew N10,000 from an ATM on Friday evening and on Monday morning you were frantically searching your wallet, pockets and you got confused to find only few naira notes left with you! Ouch! Where did the money go to?
Or you have been working for over 5 years and have been earning monthly salary and it suddenly dawned on you that you have no savings to fall back to if you were to stop working.
Or you are a trader with lots of cash flow, then the cash starts to decrease and you keep suspecting that it must be your apprentice that is stealing your money.
Or you have been wondering..., when will I find this money! Don’t look too far, the money is here!
This book brings together, basic golden rules and principles on money management in a simple and easy to read style. The principles discussed are universal. The right application of these principles or otherwise, determines your level of real wealth and overall impact in life.
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Book preview
Where Is My Money - Magnus Ekwunife
The Money Intelligence Team
The team behind the wisdom shared in this book
Foreword by:
Prof Pat Utomi
Practical Experience by
Dr. Cosmas Maduka
His Excellency, Mr. Peter Obi, CON
Dr. Ikem Odumodu
Sir Demola Aladekomo
Mr. Boni Obieze
Author
Magnus Ekwunife
Acknowledgements
The passion, skill, patience and grace to write was a vital part of the composition when He was designing me. I am ever grateful to the All-Knowing God for the opportunity to communicate my thoughts, understanding, and practices in writing.
Many people worked tirelessly to make the publication of this book a reality. My beloved wife and best friend, kept pushing up the benchmark of minimum quality standard for the book. The Money Generals in the book demonstrated the true meaning of humility in abundance. They provided ample time to discuss their money principles, reviewed their chapters, and ensured we met the publication timeline. My colleagues in the office are always amazing, working as a family to deliver results. A lot of friends played great roles in this book; I can’t possibly mention all. Gabriel Nwanze proofread the draft several times at different levels. Azuka Onyia provided very quick review that introduced new insights to the final output.
More importantly, I thank you for picking this book to read. The purpose of this book is to influence our attitude towards money, in order to create a better society for all of us. Thanks, as you make this happen.
Book Map
Table of Contents
The Money Intelligence Team
Acknowledgements
Book Map
Foreword
INTRODUCTION
Born to Win
Enthusiastic Protégés
PART A
MONEY SCHOOL
Chapter 1: Savings Habit
Chapter 2: Record Keeping Habit
Chapter 3: Recovering from a Deep Financial Valley
Chapter 4: Five Capital Sins of Money to Avoid
Chapter 5: Money 101 Lesson Summary
Chapter 6: Lesson Practice
PART B
INVESTMENT SCHOOL
Chapter 7: Investment Success Foundation
Chapter 8: Begin with the End in Mind
Chapter 9: Investment Strategies
Chapter 10: Sharpen Your Investment Practice
Chapter 11: Follow a Win-win View of the Market
Chapter 12: Be Disciplined and Resolute
Chapter 13: The God First Strategy
Chapter 14: Four Capital Sins That Destroy Investment
Chapter 15: Growing Despite That Challenge
Chapter 16: Creating Funds for Investment
Chapter 17: Escape the Rat Race
PART C
WEALTH SCHOOL
Chapter 18: Sustainable Wealth Creation Model
PART C
BIOGRAPHY A – MONEY WISDOM
Chapter 19: Meet Money Coach - Dr. Cosmas Maduka
PART C
From Small Beginning to Greatness
Chapter 20: From Small Beginning to Greatness
BIOGRAPHY C –
Investment Biography of
Chapter 21: Investment Practice of Sir Demola Aladekomo
PART C
Biography D – Wealth Creation Biography of
Chapter 22: Wealth Creation Habits of Dr. Ikem Odumodu
Biography D
Public Sector Money Intelligence
Chapter 23: Money Intelligence in Public Service Leadership
Conclusion
Chapter 24: There is Enough Money for Everyone
Copyright
Foreword
There is a deep burning passion in our youths and young entrepreneurs today. The kind of passion precipitated by frustration with the failure of leadership to create a space for them to express their talent. The passion to create their own pasture while their strength remains, for the alternative appears too grim to imagine. No one wants to be caught up in the vicious cycle of poverty.
This passion has thrown up youths with diverse paths. A lot, due to frustration, lack of appropriate models, not being able to figure out a clear path in the maze of glaring opulence in the midst of abject poverty, chose the less honourable path of get-rich-quick schemes that have cut short lots of great dreams. The resultant heart breaks in watching promising youths lose hope, yield to predatory extortionists in quest for wealth and how leadership has not done enough to redress this. I strongly feel we will get better results by teaching youths to discover the original principle of innovative diligence, to live their full potential in the midst of the vast challenges especially with their finances.
Ensuring that young people link wealth and progress to creating value and building the discipline for creating a predictable process of extracting such value has been my preoccupation for two decades. A discipline of saving, identifying opportunities, creating business ideas around them, and commercializing ventures has been at the core of this mission.
The author has put together some very important principles to help readers master the art of money that is at the root of most challenges facing the youth and the society at large. The approach adopted by the author makes for easy reading for youth, and young entrepreneurs. The book can also challenge leaders on ways to model wealth creation principles for the youths by improving their money habits.
Some principles raised in this book will be discussed further in our role model sessions at Centre for Values in Leadership (CVL). The author has put together information to stir thoughts that would assist in vital personal decision for value-based successful and impactful living.
Professor P. Utomi
Founder and President, Centre for Values in Leadership (CVL)
Chairman, Megastrat
INTRODUCTION
Born to Win
Ezinne returned from work after midnight as has become her custom lately. She opened the door quietly with a sharp prick of conscience for not seeing her children yet again before they went to bed. She dragged her beautiful sun tanned elegant physique on six-inch pair of Brazilian shoes to the living room, slumped on an immaculately laid purple leather sofa with a deep sigh and slept off.
Darling the breakfast is ready,
tapping her softly, Segun assisted Ezinne to her favourite breakfast of fresh pap, homemade akara, freshly squeezed orange juice and neatly sliced sweet cherry mango. Segun took time earlier to peel off the green back of the mango to bring out its full sensational taste.
Segun and Ezinne had been married for the past 15 years with no trace of ageing. Segun takes it as his personal duty to drag grumbling Ezinne out for aerobic exercise almost daily. They relate so freely and are very fond of themselves. They are so full of life together that people take them as the ideal model of blissful marriage. Whenever Segun goes to assist Ezinne in her office, customers mistake him for Ezinne’s staff. They usually have good laugh whenever unsuspecting customers go as far as ‘toasting’ Ezinne in Segun’s presence not suspecting him to be the husband. They have two lovely children.
Segun had tried to get used to Ezinne’s late nights without success. He remembers with nostalgia their good times and jokes over dinner when they just got married. He has been looking for a way to bring that old ‘spark’ back into their marriage. They had a lengthy chat and laugh the night before, albeit late, where Ezinne promised with both hands and legs up in the sky to change. Following from this, Segun was home early, had a warm bath and eagerly waited for a quality time with his wife. After a long wait, he smiled to himself and slept off beside the book that has been his companion in periods like this.
Segun muttered between mouthfuls of hot ‘akara’, You have done so well creating and managing 12 outlets of your booming fashion boutique. My Law Chamber’s success is also amazing. But at 45, your energy level cannot be at the same rate as 12 years ago when you started this business.
I often wonder how we survived those early start-up periods.
Ezinne whined
I get afraid myself trying to play back the images of those periods of howling start-up experience in my head. How we lived perpetually on edge, with butterflies all over my tummy whenever we heard the landlord’s voice, or is it going to plead with the beautiful smiling head teacher for one-week extension from school fees deadline only to discover that the smile is meant for only those that pay their school fees on time!
Segun smiled. "But the story is so different now! I am beginning to believe that we are all designed to win, with some battle though. The battles seem to be part of the package to uncover our solid design and make us savour the joy of victory."
Who could have imagined we would be controlling this kind of wealth!
Ezinne muttered lost in thought.
My new pain now is watching Ego and Moyo grow into teen life with little knowledge and experience on how to manage money. I don’t want them to suffer what we suffered before we discovered the truth about wealth.
Ezinne gasped before gulping a glass of fresh juice, licking her mouth with relish and smiling for the first time since waking up. She beamed a hot smile at Segun, stroked his hairy chest and exhaled, "Di m oma Segun!"
Ahaa my princess is back!
Segun echoed while reaching out for the last ball of akara before it was too late.
The world becomes a better place through deliberate coaching of younger generations to become better than the forbearers. Good success creates greater successors.
Ezinne stopped halfway going to contest the last Akara, "Got an idea, Ego and Moyo can actually make good business out of this Akara. Did you notice how delighted Mama Bukky was the last time she had a taste of EgoMoyo Akara treat? Segun laughed with a mouthful,
Can’t remember seeing anybody eat that fast, she even had some take away."
They are already good at making it, let’s teach them how to grow a business out of it.
Ezinne said as she packed the plate away for washing.
"Sounds great, but my children should not be akara makers. They should be doctors and lawyers." Segun said as he picked up the remaining plates, following Ezinne to the kitchen.
"Haah Seegeeeh, your children will not be akara makers, but at least let’s teach them the rudiments of creating wealth. So that even if they are doctors or lawyers or akara makers, they will live a wealthy life."
Segun laughed. "Ziizzy my darling! I am with you in this full time. I groped in the dark in desperation for so long before I discovered that the only way to real wealth is to learn the art of savings and investment no matter your trade or profession. Quick and easy wealth mind-set is but only a fairy tale that has destroyed lots of great destiny. How I wish I learnt this secret early. It is even more difficult for the young ones to learn now, no thanks to lots of half-trained and inexperienced motivational teachers and gallant display of easy wealth by very few public officers that leave the society depraved and dehumanized with distorted value system about wealth.
"We will take our children through money school at home while they learn their profession in school. If we put some of them in story form, it will be easier for them to remember and do. We would try and get them to meet some of our successful friends whom I refer to as the Real Billionaires to share their success stories to disabuse their minds from the warped Nigerian money culture. We are the only one that can rightly shepherd the great destinies of this beautifully designed children.
I still remember what happened to Julius my class mate in primary school. He was a gifted musician from childhood. He used to enthral us all with his dexterity at handling common musical instruments like flutes and local harps. He grew to become one of the best musicians in our early 30s. He made so much money from musical shows, bought brand new 505 saloon cars and lived like a king then. But it wasn’t for long. His music became out of sync with fashion. He did not have capital to adapt to the new trend. Younger musicians took over. He very accustomed to a flamboyant lifestyle which he could no longer afford. Worse of all he neither had any savings nor invested during his reigning days. He resorted to looking for quick ways to raise money. He moved from various miracle crusades to traditional herbal