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    DDEP: Government hopeful bondholders will register for programme

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    DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta

    We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners

    Idris Elba adds Ghana to the list of African countries he wants to partner with

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Pensioners to picket at Finance Ministry over DDE

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    Nigeria ranks number one globally for cryptocurrency usage and ownership

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    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

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    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

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    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

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    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

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Money Wisdom Series: Using your assets to create cash flow stream

May 12, 2020
in FEATURES, Top Stories
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Financial freedom and independence is realized through financial intelligence i.e. Your ability to create assets to generate and control CASH FLOW.

You can only become financially independent when your income from your assets exceeds your monthly expenses. What most people don’t realize is that the salary mentality leads you to financial slavery because you work to pay more taxes but the rich and successful people pay less tax.

Take Away: As an employee, you pay more tax to the government than your employer, i.e the more employees the employer has the less tax he/she pays. Think of starting a business to create cash flow and jobs so you can become financially free.

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  • Key Financial Intelligence words to take note.
  • Income
  • Expense
  • Asset
  • Liability
  • Cash Flow

The most important of all these words that has made people successful and financially free is Asset and Cash Flow, since they work to put money in your pocket consistently. On the other hand, Liability and Expense takes money from your pocket and leads you to financial stress and poverty.

Creating a Cash Flow

What are your Assets?

  • Intellectual property
  • Talent/Hobby/Passion
  • Acquired knowledge/skill /craftsmanship
  • Landed property if it can generate cash flow
  • Your network of friends/family

The importance of contact and network is to create value and impact which would in effect lead to generating cash flow so build a very good circle of friends. The people and environment you play in has a huge impact on the extent to which you can be successful.

–

Please kindly use the links below to follow my page on FACEBOOK and YOUTUBE channel for more MoneyTalk and Videos.
https://www.facebook.com/Jerry-JAfolabi-107737420863286/
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©Jerry.J.Afolabi

Source: Jerry.J.Afolabi
Tags: Jerry J. Afolabimoney
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