Money Lesson Of The Day Mduduzi Luthuli

I had the pleasure of being invited onto Kaya Bizz, with Gugu Mfuphi, to give a quick round up of the days market activity, with a special focus on the financial sector, global bond yields and possible prosecutions on the ongoing Steinhoff saga.

Whether you hire financial experts or not, you're still responsible for your investment results. Each choice is a decision you make; therefore, you're responsible. It is your money and you will live with the consequences whether good or bad. You decide which investment expert to hire, and you decide which investment to buy. If you don’t like your investment results, there is no one except you to blame. You can’t delegate the responsibility, even if you delegate the authority. The only way to make consistently smart investment decisions is if you learn what works, what doesn’t, and why. If your investment decisions aren’t based on knowledge, then what are they based on?

You want to be surrounded by wealthy people in order to attract their
mindset, emulate their behaviours and have access to their network. This is
how you separate yourself from the average minded person and begin to
transform yourself into a wealthy minded person.

Do you crave a life without financial constraints?

Too often our ability to make progress towards our passions has been limited by the “rat race.” In the rat race, we work for our employers, the government by paying taxes, and the lenders (ie, of our mortgages, credit cards and loans). Usually, our own passions are dead last, relegated to when we can find free time — if they get focused on at all.

It doesn't have to be this way.

Saving money can help you pay for large purchases, avoid debt, reduce your financial stress, leave a financial legacy, and provide you with a greater sense of financial freedom. So why do so few people succeed in doing it consistently?

The practice of good philanthropy is as much a craft as a science: it has
rigour, and is learned through practical, not theoretical, means. Only when
a philanthropic relationship is pursued with intention and for impact can
institutions, organisations and new endeavours make the best use of
philanthropy.