Control Your Cash Flow | Wealth is a Lake, Income is a Spring

I’ve been working here since morning with my nephew.

I’m enjoying myself, please don’t feel sorry for me.

By tomorrow, I’ll be in a very beautiful hotel chauffered with guards and ushers in Benin.

I know who I am and I know what I’m doing.

I’m still talking about Control.

Wealth is a lake, while income is a spring. It is not how much you make that determines how wealthy you are. It is the control of the rate of inflow of money so that more money flows in and less flows out, that determines whether you are wealthy or not.

In your life, before you spend money, make sure you make it. When you make the money, make sure you budget it. When you budget, let there be some that you will save; let there be some that you will reinvest. Don’t consume all the money.

I have had circumstances where large sums of money came into my hand. The tendency is to get very excited and to assume that you are not a rich man and start spending money anyhow.

Make sure that what you spend is less than what you make. That’s how you become rich.

Don’t accumulate liabilities. My television is a liability, my car is a liability. This land at Petra Institute is an asset. So the more I convert my money to assets that will increase in value with time and without my putting in physical effort, the wealthier I become.

It’s not a matter of how much cash you have in the bank really, because money depreciates with time. So how much of your money can you convert to wealth or something that can increase in value with time, even when you are sleeping? The price of this land increases even when I’m sleeping. And I have several of them all over the place, several acres. If I add more value to it, it increases in price.

This year, start asking yourself, “Am I increasing value or am I accumulating liabilities?”

You must control your feeding your appetite. If you sell cement and the profit on the bag of cement is 100 Naira. If you eat 300 Naira in the morning, 300 Naira in the afternoon, and 300 Naira in the evening, that’s 900 Naira. If you spend like that for 100 days, you have spent the profits on a trailer load of cement that has 900 bags. So you can eat the profit of a trailer load of cement by just having 300 Naira for each meal every day. If you want to regulate your income and increase your profit and your wealth, you can take your meals to the office, eat in the office, get home and eat. Don’t buy and buy. That’s the way to control expenditure.

Most rich people overseas enter public transport. They buy simple clothes and they live simply. This year, don’t just try to bam-bam with the big boys and then run kitty kitty kata kata with poverty. No. Be wise

I remain your friend, Dr Charles Apoki.

I know what I’m doing.

Subscribe to my YouTube channel and follow me on Facebook.

God bless you.

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