sure thing, ndiro basa rangu iroro reInvestment management On 10/20/10, Milton Jiri <[email protected]> wrote: > Oh wow,impressed. So if we came up with a group, would you be able to help > with advising the group of the best investment to invest in? > > -----Original Message----- > From: [email protected] > [mailto:[email protected]] On Behalf Of simbarashe wekwete > Sent: Wednesday, October 20, 2010 12:36 PM > To: [email protected] > Subject: Re: Financial Discipline Part 2 and 3 > > the first thing is that i can safely safe i have gone for almost 2 years > without borrowing for consumption. > the second thing is that we have a fund the we set up with my friends that > has grown by over 75% in 10 months. Our target when we started was to be > able to by property i.e stands or flats in five years. when we met for a > review last week, that target at the current contributions and growth levels > will be achieved in 3 years. if we increase contributions, in 2 years we > would have bought our land to build , and these contributions are less than > $100 a month. > > On 10/20/10, Milton Jiri <[email protected]> wrote: >> Yah, I like the statement that says you never have enough to save... >> that's so true and interesting... >> >> So Simba, what have you managed to do when you have applied these >> principles? How can someone wu is doing hand to mouth be convinced of > this? >> >> -----Original Message----- >> From: [email protected] >> [mailto:[email protected]] On Behalf Of simbarashe >> wekwete >> Sent: Wednesday, October 20, 2010 11:46 AM >> To: tribewithavibe >> Subject: Financial Discipline Part 2 and 3 >> >> Yesterday we talked about the first step which is Tithing which is te >> first 10% of your income. >> >> today we shall go through steps 2 and 3 coz they are almost similar >> but unique. >> >> Step 2 : Save - Long Term Investment (10%) >> >> The moment we talk about saving the first thought that comes to one's >> mind is i do not have enough. my question to you is who has enough to > save? >> A long term investment is something that last for over 1 year. So the >> principle here is putting money aside with the intetion of not using >> until within the next year and/ or with the intetion of buying >> something that you can use for more than a year. >> We are all young and need a lot to start our own homes. it is a fact >> that you can not have all you want at once so how do you then do it? >> Examples i can give of meaningful things to save for are your >> education, your wedding, a car, a house, furniture, kids school fees, >> a holiday at the end of the year etc. >> You might ask but how long do i save to buy a house? true it takes a >> lifetime but the idea here is to develop a habit of saving for the >> future. I will give an example of a building society that is giving >> mortgadges to buy houses but you need to pay a certain amount upfront. >> Many people applied but very few had the upfront fee. If u have money >> set aside, u will be getting your mortgadge to buy a property. >> Ask yourself what do you want to have in your house, how much does it >> cost and start putting money aside for it. >> >> Step : 3 Save - For Emergencies (10%) >> >> examples of emergencies include sickness, death in the family, theft / >> break in at the house etc. >> We all have urgent needs that just pop up here and there and what a >> better way to deal with these. >> The good thing about saving for an emergency is that when it does not >> occur, you still have your cash and you can use it to buy something. >> In finance we call this self Insurance. it like getting an insurance > policy. >> the only difference here is that u manage your own funds and when >> there is no emergency, you have all your money. >> >> Step 2 and 3 are very difficult but once you begin saving, you will >> begin to see yourself at another level. it is easier to save and buy >> your TV, than to get it on credit and pay the cash price plus >> interest. It is easier to help at a relative's funeral from your own >> resources, than to borrow and pay back from your income. >> >> the easier way to do this is just simply leave the money in a bank > account. >> You can go a step further and open a savings or investment account >> that earns a bit of interest over time. You can even set up a fund as >> a group and invest a lumpsum of funds thus earning more interest than >> you would get on your individual investment. there are other ways of >> investing ad growing money and these can be discussed later but right >> now we are dealing with the foundation which is saving. >> >> Sometimes people think you are wealthy when they see your Plasma TV >> but kungorongeka so. >> >> Step 4 is coming tomorrow and it gets hotter. >> >> -- >> You received this message because you are subscribed to the Google >> Groups "tribewithavibe" group. >> To post to this group, send email to [email protected]. >> To unsubscribe from this group, send email to >> [email protected]. >> For more options, visit this group at >> http://groups.google.com/group/tribewithavibe?hl=en. >> >> -- >> You received this message because you are subscribed to the Google >> Groups "tribewithavibe" group. >> To post to this group, send email to [email protected]. >> To unsubscribe from this group, send email to >> [email protected]. >> For more options, visit this group at >> http://groups.google.com/group/tribewithavibe?hl=en. >> >> > > -- > You received this message because you are subscribed to the Google Groups > "tribewithavibe" group. > To post to this group, send email to [email protected]. > To unsubscribe from this group, send email to > [email protected]. > For more options, visit this group at > http://groups.google.com/group/tribewithavibe?hl=en. > > -- > You received this message because you are subscribed to the Google Groups > "tribewithavibe" group. > To post to this group, send email to [email protected]. > To unsubscribe from this group, send email to > [email protected]. > For more options, visit this group at > http://groups.google.com/group/tribewithavibe?hl=en. > >
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