THE 10 COMMANDMENTS OF PERSONAL FINANCE
Lowell, MA
4/08/2008
By George Chege
AjabuAfrica.com

The road to financial independence is not easy, but it is simple. Countless needs and wants create a bottomless pit that swallows every cent we earn. Unforeseen obstacles and circumstances beyond our control crop up at the worst moment and detract us from our financial hopes and wishes. Conmen and thieves gang up to steal whatever little we manage to keep. Is there hope of financial independence at the end of this tunnel of continuous toiling?

I am sure the previous paragraph seems familiar to every average working family. Money does not seem to be enough – despite salary raises, double shifts, better paying jobs or tax refunds! So where does the problem lie? If you ask the Swahili people, they will tell you they know the answer. It is very simple. Whatever eats you is within you! You are part of the problem. The sooner you accept it, the sooner you start being part of the solution.

Last week our homework number 2 was to give a donation to a charity other than the one you normally make donations to. Did you do the homework? If your answer is yes - congratulations. There is happiness in giving. There are blessings too. You will receive much more than you gave. If your answer is “no”, kindly read article number 2 again before you proceed. Sometimes it may take a little hammering before the lesson sinks. Then do homework number 2 and number 3 at the end of this article.

What was the objective of homework number 2? To make you aware that:

• There are many ways to make a donation. You can donate your time, skills, knowledge, property, etc. in addition to money. Despite how you feel about your financial situation, you can still be of benefit to another person or help make the world a better place using time, talents and resources you have to spare.
• The world is full of abundance. There is no need to be selfish with what you have. Do not be greedy. Do not be a miser. It is unwise.
• There exists a law of the universe that states those who give without expecting anything in return will receive much more than they give. You can test this law by doing homework number 2 every so often. The gains are yours to keep.

The first sentence of this article alluded that although achieving financial independence is not easy, it is simple. Yes, it is not easy. This is because your habits and attitudes about money are wrong and they lead you to live from hand to mouth, surviving paycheck - to paycheck. Yet it is simple. This is because you have some basic rules that will keep you ahead of the crowd. If and only if, you follow them. No matter what you read, no matter who you listen to, no matter what you choose to do, if you stick to the 10 commandments of personal finance, at least you will be sure you are on the right track. Here they are.

• Thou shall choose to be financially successful
• Thou shall not be discouraged from seeking financial success
• Thou shall make and follow a wealth-building plan
• Thou shall protect yourself, your family and your property against financial risk and unforeseen emergencies
• Thou shall legally protect yourself, your family and your property
• Thou shall acquire financial knowledge and teach your children how to earn, spend, save and invest money
• Thou shall avoid get-rich-quick schemes
• Thou shall avoid consumer credit card debt
• Thou shall pay yourself first
• Thou shall not steal, lie or kill for money

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