Holding money vs. making money💸

One is definitely harder than the other

#86

You know what? Strive has so many gems, I just had to find another extract from his posts that I’ve noted in the past. When you deep it, it really is more difficult to hold on to money than to make money. Once you make money, you’re inundated with bills, charity contributions, dues, wants and needs. And in the end, how much are you really keeping for yourself? Everyone else is getting paid apart of YOU! And that’s not how it should be. “A part of all I earn is mine to keep” is one of my favorite quotes from The Richest Man in Babylon. Although I’m not the best at following this piece of advice🙈, I’m constantly sharing this with people. I’ll be better, promise. 10% of every paycheck is the way to go. Pay yourself first before you pay anyone else. Think of it as retained earnings to fund future investments (or something like that). Anyway, check out below: 

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To start with, always, always remember that, it is harder to hold onto money, than to make money. Teach it to your children, if nothing else.
People who inherit businesses, or money, generally end up losing everything. The first thing you need to know, is when you are making money, and when you are not. A large turnover, or revenue, does not mean you are making money. 

Then I said to him, “Before you tell me, how much you made on this project, and that, let’s talk rather about how much you saved, from what you made on each project.”
Then he looked at me, with a bemused almost blank look on his face.
Then after a while, he said, “I made investments”. 

I looked at him, in the eye, and said, “you know its not true. You bought a nice car, you built a nice house, you..... You did not invest, in your capacity to make more money, and you did not SAVE, for the rainy day.”
Then I said, “do you want us to carry on, this discussion; it could become very painful for you?” He looked down on the ground. 

I stopped.
Friends, if you have a job, any job; no matter how little you make: SAVE something. If you are running a business, no matter, how small: SAVE something.
Financial literacy, is about making sound financial decisions: hold on to your money. 

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Article List— What I’m reading (10 articles a day x 7 days x 4 weeks x 12 months = 3360 articles a year).

KPMG ends its backing for Prince Andrew's mentorship scheme: Big mistake from Prince Andrew. How can you excuse such behavior from Jeff Epstein? smh 

Aramco Sets Its Price and Defines Its Limits: This transaction is possibly going to fail. And the stock price just might tank after IPO. You really can’t force the market to do your bidding and keep the price you want. It’s probably better off being a private company where MBS doesn’t have to answer to anyone. 

Ghanaian firm Springfield makes historic oil discovery of 1.2bn barrels in deepwater: Definitely newsworthy. Big up Kevin. 

African fintech: Everything you want to know about African fintech is here. 

Professor Who Wrote Book on Drug Crime Is Accused of Money Laundering: You can’t make this shit up hahah. This needs to be turned into a movie/ tv show. Netflix, what you saying? But seriously, who better to launder money than an expert in money laundering? He sees all the loopholes and knows how to exploit them. 

Kylie Jenner Sells Majority Stake in Beauty Business to Coty: Next logical step. 600M in the bank! And this is not the result of just being rich and famous. She is smart, or at least has smart advisors like her mom. Check this out: She used her own capital, hired six people, paid close to $0 in ads, leveraged media trends, leveraged supply partners, built a $1.2B+ brand, now $600M richer and she did it in 5 years. *round of applause*

Juno, Once Billed as the ‘Anti-Uber,’ Shuts Down In New York: Welp. Makes me wonder what the other African ride-hailing apps think the future is on the continent. Not bullish on this market tbh, with unit economics that don’t work. 

Inside the clone factory: the story of the Samwer brothers and Rocket Internet: Maybe you love Jumia. I don’t. See how it all started. 

Disrupting Help: Can Eden Make Life Easier For Us All?: Didn’t really understand this company’s purpose before. I’d like to hear from people who use it frequently to discuss their experience. 

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Podcast— What I’m listening to (1 podcast episode a day= 365 podcast episodes a year) — Broadening my experiences through others’ stories. 

Cold Call: Want exposure to HBS case studies? Easiest way here. Who knows? Might even prep you for that HBS interview because you’d know all about the case method by then. 

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Book— 1 Chapter a day  x 7 days x 4 weeks x 12 months = 336 chapters. Most books have 10-12 chapters, so 1 year = 28 to 33 books. And my book list is nearing 1000 books. Send help 🌚

Venture Deals by Brad Feld and Jason Mendelson. I’m actually learning so much from this book. Highly highly highly recommend to anyone looking to get into venture investing. Might take a while to grasp all the concepts. I’ll have to read it at least 3 times to fully get it. 

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📱📱Quote of the day 

“Adversity is nothing but a refining fire to burn out the impurities in one’s life.” - Cosmas Maduka 

Remember: “Until the lion learns to write, every story will glorify the hunter.”