Tuesday, March 15, 2011

Emmanuel F. Kumah: Three lessons from Money

Thank you for following my chit-chat on money, I am grateful for taking time off your busy schedule to visit me again.How has the chit chat on money being, insightful? I just hope you are taking some few notes on the important points and applying it to your everyday issue of money.
Today, we would talk about some three lessons we can draw from money and apply it wisely,for  it is not how much you know but how well you apply what you have learnt to make  your life better.Are you ready?

Lesson one: Money is Important

One of the most prevalent misconceptions concerning money, relates to its
importance. For example, how many times have you heard people say in
conversation, "Money isn't everything." or "Money isn't important." or "I don't care
about money." Well, the people who say these things might not care about money,
but inwardly they really need money to satisfy some important needs in their life.
Just look closely at what you are wearing, if money is not important I guess you would have not be wearing any clothe today, or perhaps you would not be reading this article at all as whatever you are using to access this information needed money to do so.

Lesson two: Money does not buy happiness

This is one of the most arguable issues when it comes to money,I do not think I am the best person to talk about this, however, what I am about to share is mainly from my own opinion.
Well, does money buy happiness? Indeed money does not buy happiness but that thought of it can make you happy. Let me illustrate this, when you buy a new Mercedes Benz, do they put an equipment inside that makes you happy when you drive it? Certainly not, the latest cellular phone in town does not have a function called happiness installed in it. So what then makes people happy when they hear of or find money. Money in itself is a piece of paper with inscriptions on it, and there is no inscription on it called happiness.The reason you feel happy is that the happiness is generated in the mind not in what you possess, in other words it is our thinking pattern that makes us happy not the possessions.

The next illustration;Why is it that people who are promised pay increase or something important gets excited even when they have not received it immediately? Because the happiness or excitement generates from the mind not what they have.You can live a very happy life even if you do not have money because that amount of money or possession would not make you happy, it is what is inside of you that makes you happy.Well, if you disagree with me you can drop me your comment and let’s get talking.

Lesson three: Money is a Slave

Most people make money their master instead of making money their servant.If you consider money as a master it rules over you and dominate everything you do. However, if money becomes your servant you exercise authority over it.Most people have a miserable life because they see money as a master. Now here is my crazy thinking, it you see money as a servant it goes to work for and makes profit for you, in other words when money becomes a ruler of your life ,you go to work for it , this should not be.If money is a servant to you , it obeys your voice and your instructions, you then command it to go  to work for you and it would willing do.When it does, it also give birth to more money which intends becomes servants for you to generate the more.This is one of the most important principles of wealth creations. So the next time you receive an amount of money, make it your slave.

 What Next?
I would love to hear from you drop me a comment on what you think about this post, i would be glad to hear your views. Thank You

Saturday, March 12, 2011

Emmanuel F. kumah:Money and Me

In my recent article on issues of personal finance, I asked a simple question that formed the basics of my writing,’Is money Good?’ Well I hope you enjoyed reading that article on money.
Today, we would want to continue another discussion of money as it can make or unmake you.Money is the idea of our thinking, and we would deal with the concept of money and you, focusing on the lessons  we can draw from the note called “Money”.
Are you ready to enroll in the school of money? Well take your seat and let me teach you money.
Let’s begin with this story?

The Edgewater Beach Hotel

In 1923, at the Edgewater Beach Hotel in Chicago, eight of the world's wealthiest
Financiers met. These eight men controlled more money than the United States'
government at that time. They included:
1.    The president of the largest independent steel company;
2.    The president of the largest gas company;
3.    The greatest wheat speculator;
4.    The president of the New York Stock Exchange;
5.    A member of the President's cabinet;
6.    The greatest "bear" on Wall Street;
7.    The head of the world's greatest monopoly;
8.    The president of the Bank of International Settlement.
Certainly, one would have to admit, that a group of the world's most successful men
was gathered in that place; at least, men who had found the secret of "earning
Now let's see where these men were twenty-five years later:

  • ·         The president of the largest independent steel company, Charles Schwab, lived on

borrowed money for five years before he died bankrupt.

  • ·         The president of North America's largest gas company, Howard Hopson, went insane.

·         The greatest wheat speculator, Arthur Cutton, died abroad, insolvent.

  • ·         The president of the New York Stock Exchange, Richard Whitny, was sent to Sing

Sing Penitentiary.

  • ·         A member of the President's cabinet, Albert Fall, was pardoned from prison so he

could die at home.

  • ·         The greatest "bear" on Wall Street, Jesse Livermore, died a suicide.

  • ·         The head of the greatest monopoly, Ivar Krueger, killed himself.

  • ·         The president of the Bank of International Settlement, Leon Fraser, also died a


Each of these men learned well the art of earning money, but none of them learned the personality or characteristics of the money they have earned.No wonder Charles Schwab borrowed money for five years before he died bankrupt. My question to you is that, what happened to all that money? He never learnt the art of making money his slave and did not know the characteristics of money.
When I tell this story to many a people , they then conclude that money is not good and is evil. But the fact that someone wears his suit upside down does not guarantee you to do the same.
This article is a continuation  of my chit-chat with you about money,so enjoy reading it and learn some useful lessons from it.
We would focus on three main lesson we can draw from money in my next post .

What Next?

Has this post being educative, or you have a view to share. Feel free to drop me your Comment