HOW TO START SAVING AND INVESTMENT

HOW TO START SAVING AND INVESTMENT…

EVERYBODY WHO GOES TO CHURCH KNOWS THAT HE/SHE SHOULD GIBE 10% OF HID/HER INCOME TO RGE CHURCH. THEREFORE, GIVE TO THE STATE WHAT IS THE STATE’S, AND GIVE TO GOD WHAT IS GOD’S. BUT WHAT ABOUT YOU YOURSELF? YOU MUST LOOK INTO THE FUTURE WHEN YOU ARE NO LONGER ABLE OR WILLING TO WORK.

HERE – AS IN SO MANY OTHER CASES – TAKE THE BIBLE AS A “SOLE MODEL”. EVERY MONTH, YOU SHOULD PUT 10% OF YOUR INCOME ASIDE FOR “RAINY DAYS”. TO GIVE YOU AN EXAMPLE: IF YOU HAVE A MONTHLY INCOME OF 1,000 GHC, THEN PUT 100 GHC EVERY MONTH INTO A SAVINGS ACCOUNT.
IT SEEMS PEOPLE HAVE CALCULATED THE FIGURE OF 10% RATHER ACCURATELY. SURVEYS SHOW THAT IT DOES NOT MAKE MUCH DIFFERENCE WHETHER YOU LIVE ON 10% MORE OR LESS IN A MONTH. BUT IT MAKES A LOT OF DIFFERENCE FOR YOUR FUTURE LIFE. IF YOU INVEST 100 GHC EVERY MONTH FOR ONE YEAR AT A RATE OF 3% INTEREST, YOU WILL ALREADY HAVE OVER 1,200 GHC. AFTER 10 YEARS, YOU WILL HAVE ABOUT 13,979 GHC (1,200×3/100) TO THE EXPONENT OF 10.
ADDITIONALLY, WHEN YOU HAVE 2,000 GHC OR MORE IN YOUR SAVINGS ACCOUNT, YOU CAN PUT THE MONEY INRO A FIXED DEPOSIT. MOST RURAL AND COMMUNITY BANKS START A FIXED DEPOSIT WITH 2,000 GHC OR EVEN LESS. FURTHERMORE, THEY PAY YOU AN INTEREST RATE OF 9% ANNUALLY. LET US ASSUME THAT AFTER 20 MONTHS, YOU PUT 2,000 GHC INTO A FIXED DEPOSIT. THEN YOU REPEAT THAT EVERY 20 MONTHS FIVE TIMES. AFTER 10 YEARS, YOU WILL HAVE AROUND 18,000 GHC. EVERY RURAL AND COMMUNITY BANK CAN ADVISE YOU ABOUT FIXED DEPOSITS.
YOU SEE, SAVING 10% OF YOUR INCOME MONTHLY IS VERY PROFITABLE FOR YOU. THE ONLY ATTITUDE YOU NEED IS DISCIPLINE. THE SAME DISCIPLINE YOU SHOW WHEN OY COMES TO PAYING YOUR TITHE. AND I CAN ASSURE YOU THAT SEEING YOUR MONEY GROW BRINGS FUN.
THAT IS HOW TO START SAVING AND INVESTMENT.
START ON THE 1ST OF MAY!

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