It is also worth realisation that cultural attitude toward money and its value need to change indeed. The ways of life of most Sudanese people was essentially based on subsistence farming and cattle rearing. Money played a very little role in most Sudanese people’s traditions and cultures. However, what need to undergo transition or change are people’s attitudes and mind set toward money and its value. Understanding that our way of life at least in this country depends on money is greatly important. And similarly, what we do with the money will play a major part in our success as a people in life.
Saving for the future is critically essential. Tomorrow is always important than today. Therefore saving for yourself, your family (mum, dad & kids), your retirement, any emergency, among others, is indispensable, cannot be avoided. Saving is possible in regardless of your income. It does not have to be a certain amount. You don’t need to be working. A few dollars frequently will count in the long the run. Thinking twice when borrowing money is equally an essential factor when it comes to managing one’s finances. It is not a bad idea to borrow money, but, borrowing within your financial means will save you from trouble in the long the term. Doing a proper homework before you make that critical decision will be redemption to you. One of the laws of money management is that “borrow to invest don’t borrow to consume.” I’m not against people borrowing money but borrowing wisely is the key. Therefore Saving! Saving! Saving will save you.
Do you have a credit card? If yes then how well do you manage it? Credit card was and is a financial product created by financial institutions to earn more money! It is important to understand that financial institutions are primarily motivated to gain. Customers’ needs come after their needs. If you mismanage your credit card, you will dearly pay a price for it in the long run. Therefore, taking out a credit card and managing it well is the key, or else avoid it if you can. You can’t simply say that it is unaffordable to repay your credit card. The bank will never leave you or just let you go. They will tannish your name until you redeem yourself. Please don’t become a victim to this dodgy money.
Superannuation. Do you know where your super money is? Do you have access to you super money? Do you know the financial institution holding and managing your super? If you answer yes to all of the above questions, then well done, continue to know these questions. If you answer no, then find the financial institutions holding and managing your super. This is your money. This is your retirement money. If your answer was no, then, you need to go to the ATO website and download a form to rollover and consolidate your super. Consolidation means your super being managed by one financial institution. Your super is your super whether you stop working or going overseas for forever. You will collect it when you reach the retirement age regardless of where you happen to retire. If you need some assistance in regard to your super rollover and consolidation, I will be ready to help.
Think about the following sayings about money:
Money is a source of evil! Money cannot buy happiness!
Read the following quote;
“I have always wanted to be rich. I want to live a life filled with luxuries. I want to be the envy of others. In my opinion, wealth is something that could buy a lot of things. Money can bring you happiness. However, I do not deny that there are many things that money cannot buy. In fact, I believe that there are other more important things in life than money.I am born into a middle class family. My family is neither poor nor rich. We are able to afford basic necessities and some luxuries. Also, I am blessed with parents who care a lot for me. They work hard to provide for me and my brother. My brother and I are able to lead a carefree life. I am thankful for all that I have. However, I do not deny that I want more. I want to be truly rich. I want to be able to afford everything that I want.”
Mabior Deng