The Grit & Abundance Podcast

During this week's main episode, I cover the last of the business units; Public/State corporations.Public/state corporations are organizations formed by and/or controlled by the government. This means that the government owns more than 50% shares in the corporation.Where the government has full ownership, the organization is known as a parastatal.Under this business unit, we go over the following:Characteristics/featuresFormationManagementSources of capitalAdvantagesDisadvantagesDissolutionDisclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

If it's Monday you already know it's Motivational Mondays. The Grit & Abundance Podcast is back after a short break. During this episode, I talk of how to stay determined & disciplined in pursuit of your goals and dreams.The message is that you have greatness within you and you need to tap into that inner divine power of yours. It's not just in some of us, it's in all of us.

A company is an association of persons registered under the companies act who contribute capital in order to carry  out business with a view of making profit.In this episode we go over the Limited Liability Company (LLC) type of business unit covering the following:FeaturesFormationSources of capitalTypes of companies DissolutionDisclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

A co-operative is an incorporated business unit that is owned by and run for the economic welfare of its members. The members join together to do collectively what they were previously doing individually for mutual benefit.In this episode we go over the Co-operative type of business unit covering the following:Principles of co-operativesFeatures of co-operativesFormationManagementTypes of co-operativesAdvantagesDisadvantagesDissolutionDisclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

A partnership is an engagement of two or more people who run a business as co-owners. These owners are referred to as partners.In this episode we go over the Partnership type of business unit covering the following:Characteristics of a partnershipTypes of partnershipsTypes of partnersSources of capitalAdvantagesDisadvantagesDissolutionDisclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

Mondays are for Motivational Mondays. Today's message is a message of love, greatness, gratitude, joy, kindness. You're bound to do great things regardless of whatever you're currently going through but you'll never get there if you quit. Whatever you're doing keep going and if you fall, learn why you fell and grow through it; you never know how close you are to accomplishing your goals and dreams.Covered a A Return to Love poem by Marianne Williamson

This is the first episode in a new philosophy of money series covering 5 major business units: Sole Proprietorship, Partnership, Co-operatives, Limited Liability Companies (LLC) & Public/state corporations.Under each of these business units we'll cover:CharacteristicsFormationSources of capitalManagementAdvantagesDisadvantagesDissolutionThis episode covers the most basic and simplest business unit which is the Sole Proprietorship.Disclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

Mondays are Motivational Mondays. That extra drive/push to get your day/week started counts for a lot. This episode covers:Proverbs 23:7 - "As you think, so you become.""The best thing you can do for the poor is not to be one of them” (Andrew Matthews)Matthew 26:11 - "The poor will always be among you."Lack of gratitude is one of the largest blessings inhibitors.

In this episode I talk through one of the easiest tools to use to build credit; Credit Cards. But first a disclaimer that getting into credit card use is a slippery slope that needs a lot of discipline and without which can lead to heavy indebtedness without applying the proper knowledge that we cover in this episode.Credit bureaus are companies that provide credit reports on individuals and institutions to creditors. Creditors are the people who provide loans ie. mortgages to the general population. Well known credit bureaus are ie. Experian, Equifax and TransUnion.Credit scores are measures of credit worthiness ie. the FICO credit score which is created by they Fair Isaac Corporation (FICO). These credit scores are used by credit bureaus to generate credit reports on consumers.Credit scores range from 300-850.FICO scores take into account data in 5 areas:Payment history.Current level of indebtedness.Types of credit used.Length of credit historyNew credit accounts.Types of credit card holders:Transactors. Those who pay off their balances in full every month without carrying over any balance.Revolvers. Those who only pay a portion of their credit card balance and revolve/carry over the remainder forward to the next month.Main things to be aware of on a credit card bill:Due date (Normally 30 days from close of the billing cycle** confirm with your provider).Statement balance (Amount you owe during that billing cycle).Minimum payment due (Normally 3% of the total statement balance or $25; whichever is higher** confirm with your provider).Always check the fine print of any credit card offer or statement and be on the lookout for:Late fees.Transferring balances fees.Cash advance fees.Annual fees.Annual percentage rate (APR).Lessons learnt:Try to be a transactor and not a revolver. ALWAYS if at all possible pay off your credit card balance at the end of every billing cycle.Automate payments/set a reminder for when your payments are due.Maximize rewards earned.Avoid fees ie. annual & late fees.Avoid paying interest by paying off your bill in full so that no balance is carried forward.

If it's Monday you are already know it's Motivational Mondays. Welcome to a brand new week. I have a message for you today. In this message we cover:Three objectives to cover when presenting; Let your audience know:Who you are.What you are presenting.Why they should be interested/listen.Need vs Seed.The ground says to the farmer, "Don't come to me with your needs, come to me with your seeds. Don't bring me your needs, bring me your seeds."

In this interview, I sit down with success. Yes you heard it right, SUCCESS. I took Success out to dinner in order to pick its mind about a few things and I'm glad to share our interaction with you below:Why are you elusive to many?Whatever you move towards, automatically moves towards you.Whatever you've done to this point in your life is either working for you or against you.Relationship with failure.The story of King Solomon achieving wisdom.You have not because you ask not. James 4: 2-3Faith without works is dead. James 2: 14-26This journey that we're taking, will it be easy?If it was easy, everybody would do it.It might not be easy but it's simple."Habits are too light to be felt until they're too heavy to be broken." Warren BuffettHow do we approach challenging situations or new ideas that scare us?Just do it. Jeff Bezos brief history.Where can we find you?I'm always around. In your hearts, in your actions, in your omissions and in your commissions. Seek me and I will seek you. When you find me, don't let go of me.What further advise would you give us?"You can have more than you got because you can become more than you are." Jim RohnHumans are gifted.The flea analogy.

If it's Monday you already know it's motivational Mondays. Today's episode is just a reminder that you should keep going even when faced with adversity. Do not conform to what society expects, challenge the status quo. The hardest part was starting and you've already done that. Keep moving in pursuit of your goals & dreams.This episode is inspired by the film Cool Hand Luke which is a 1967 American prison drama film starring Paul Newman.

In this episode I interview Julius Vaughan who is a mental health advocate and founder of the mental health empowerment clothing brand "Mentally Wealthy". You can find him on instagram  @_mentalhealthiswealth. Below are the questions we went through:Introduce yourself and let us know a little about what you do.What drove you to get into mental health empowerment?How has social media influenced mental health?What do you think about the influence of general divides towards mental health? For example how our parents or grandparents approach mental health in comparison to us.May was the mental health awareness month, tell us some of the things you were able to do.What challenges did you/are you running into for your clothing brand and how did you/are you overcoming them?How can people reach/follow you?

In this episode we go over Strategic shift:Consciously choosing to do things differently for the potential reward of achieving our goals and dreams.

In this episode we go over the progress and growth thus far. We look into:Word of the episode "Growth".Who/what have you become?Write down some things you're grateful for.Write down 3 things you've learnt from this podcast.What have I learnt/become?"Imagination is the preview to life's coming attractions." Albert Einstein.My relationship with success.Story of Ruth and Naomi. Ruth said to Naomi, "Don't urge me to leave you or turn back from me. Where you go I will go and where you stay I will stay. Your people shall be my people and your God, my God."Why not you?In a 2010 interview, Derrick Rose (NBA player) was asked what kind of expectation did he have for himself going forward. He said, "It's high, the way I look at it within myself, why can't I be the MVP (Most Valuable Player) of the league? Why can't I be the best player of the league? I don't see why. I think I work hard. I think I dedicate myself to the game and sacrifice a lot of things at a young age & I know if I continue to do good, what I can get out of it!! If that means me going out and doing it, I'll do it because I know in the long run it's gonna help me."In the next year on May 3rd, 2011, Derrick Rose became the youngest player in the NBA history to be named the MVP.

This is the third episode of the triple constraint of saving frequently, investing prudently and spending wisely. In this episode we go over:What is spending wisely?Making objective and informed decisions on the necessity of the goods and/or services we pay for.Parable of the prodigal son.A son asked his father to give him his share of the inheritance. He went on to squander it in far away lands and came back home impoverished and seeking to be helped.No matter how much money one may have, if they lack financial discipline/literacy, they will not be able to manage that money and will almost end up impoverished.Second chances present themselves with new learning opportunities. With a second chance which each one of us can create, we can start over but this time with experience from past mistakes.Budgeting.Providing a sum of money for a particular purpose.Write down your budget in order to see how your money is used. Fixed expenses versus variable expenses.Opportunity cost.Loss of the benefit from other alternatives when another alternative is chosen.Opportunity cost of taking a vacation instead of spending the money on a new car is not getting the car.The Richest Man in Babylon by George S. Clason.Control thy expenditures; Don't spend more than you need.What each person calls their "necessary expense" will always grow to match their income unless they resist the urge. Don't confuse necessary expenses with desires. Rich Dad, Poor Dad by Robert Kiyosaki.Mentality."Live below your means"- Poor Dad Versus "Expand your means"- Rich Dad.What are your expenses and how are they contributing to achieving your goals?

In this episode I analyze three things we can learn from the life on eagle:Find your battleground (what/where you're good at) and use it to your advantage. Don't lessen yourself to situations where you're bound to lose.Success is a long and painful process. You must decide to either live as you've been living or make a commitment to change in order to become your best self.Attitude determines altitude. Look around you and see who/what surrounds you. To be better, you have to do better.

This episode builds upon Episode 4 (The Philosophy of Money: Income) and Episode 6 (The Philosophy of Money: Saving Frequently). These episodes are to spark an internal dialogue within you to evaluate your current philosophy of money and how it's working out for you.In this episode we go over:What is an investment?According to Benjamin Graham, "An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative."Parable of the talents.To those who are faithful with a few things; they will be put in charge of many things.Whoever has will be given more and they will have an abundance. Whoever does not have, even the little they have will be taken away and given to those with abundance.From the book "The Richest Man in Babylon" by George S. Clason.Make thy gold multiple; invest wisely/prudently.Guard thy treasures from loss; avoid investments that sound too good to be true.Stock market.Dividends- profits/earning distributed by companies to shareholders.Capital gains- appreciation in value of investments.Re-investing profits.Compound interest- earn interest/value for both the capital and subsequent interest earned.  “Compound interest is the 8th wonder of the world.  He who understands it, earns it; he who doesn’t, pays it.” Albert Einstein.Real estate.Once you own real estate you let other people go to work for you as rent and mortgages are the highest bills for most people.REITs. Real Estate Investment Trusts. They are real estate products listed in the stock market in which for most cases are required to pay at least 80% of their profits out to investors.Invest in yourself and start now.The best investment you can ever make is in yourself. Do what you love, do it for free if you have to. Eventually you will find a way to get paid for it.Start today with what you have and learn as you go.  Find a mentor.Tap into the knowledge of someone who's already accomplished what you want.Almost every successful person has a mentor. Success leaves clues so never shy away from asking for direction.

In this episode I cover:In your journey of accomplishing your goals and dreams, how do you deal with "character building days" otherwise commonly referred to as "bad days". What will you call on when you're down? What will keep you going? What is your why?“I don't count my sit-ups; I only start counting when it starts hurting because they're the only ones that count.” ― Muhammad Ali.

This episode begins the discussion of the triple constraint (saving frequently, spending wisely & investing prudently) towards financial independence. We cover:What saving is. Setting aside a portion of income to meet an objective ie. emergency fund, purchase, investment etcStory of Noah. Noah built the Ark for about 65 years while others around him continued to eat, drink and make merry. They didn't see Noah's vision of making hay while the sun still shone.Don't be derailed by the pleasures of today which may sacrifice tomorrow's success.Over time, small contributions often lead to growth of a much larger bounty.From the book "The Richest Man in Babylon", start thy purse to fattening.Commit a tenth of your income to saving.Under current circumstances, if possible, the percentage needs to be between 35% -45% of your income.Only adjust the saving percentage upwards. If uncomfortable, focus on adjusting your income and expenditure. How can you earn more income? How can you reduce your expenditure?Spend what's left after saving. Saving should always come before spending.The earlier you start the saving journey/the younger you are the better over time. Today is the the oldest you've ever been but also the youngest you'll ever be again. Saving alone isn't enough. Due to inflation (rise in price levels of an economy over time), saving without investing leads to loss of purchasing power of money saved.