Financial Intelligence 101
A friend commented lately, that the most important things in life are never taught. How true! Over the last 2 weekends, I have been extremely busy, I have been co-organizing together with my colleagues the second ever HR MBA 1 (Methods Becoming Actions). While we were busy making this happen in Ostra Hotel over 2 full weekends, I and this Friend- Babatunji Farinloye, saw a newly wedded couple. We laughed at how no school course covers training for marriage, raising children, building relationships, managing personal finance and so many of the really important things in life. I joked, that marriage is the only institution where we get a certificate before the school begins. While it is true that school does not prepare one for most of the important things in life, one must avail him/herself the privilege of such interventions. There is a mouth watering intervention coming up next week maximizing the use of the public holiday on May 29. Read on.
Financial intelligence is one of those skills that we are not formally thought, but is so important. Families that are able to transfer wealth across generations, did not merely leave their children their money as inheritance. They left with them a legacy of financial intelligence. Rockefeller’s children were taught from the tender age of 4 some key principles about money, no wonder he was able to transfer his wealth and his children grew up to be responsible and wealthy men. He gave them 5 rules, which we will look at in details. Before we delve into this topic however, I’ll like to also invite a few that are willing to transform their money mindset for a special 1 day Financial Intelligence Event. Please, this is on first come first serve basis. In a Nut shell, 15-20 people (myself inclusive) will come together on the evening of the 28th of May to 5pm on the 29th of May, and play Robert Kiyosaki’s Cash Flow 101 game. We’ll be lodging in a hotel for the night, and I’m certain it will be a memorable and mindset changing event. If you are interested as an individual or as a couple, kindly log your interest. I’m still finalizing arrangements, but total costs should be in the ball park of tops N30,000 per couple (or duo) for accommodation, feeding and logistics.
The Rockefeller rules for his 4yrs olds are still as relevant today as they were then. They are also very applicable to every age, these are the key tenets of financial intelligence that created and sustained wealth.
Rule 1 -Work for all you get!
Rockefeller encouraged his children to learn to work, to learn to be rewarded for work done, rather than be given gifts or to beg. Work is the horizontal flow of value from a supplier to a consumer. Money flows in the direction of service. Money that is worked for is replicable. He ensured that his children understood that money is a reward, not a gift or a right.
Rule 2 -Give away the first 10%
Different religions encourage their people to part with 10% as an offering or as a commitment to God. All the great and rich men of all times, have shared this same principle. Giving away 10% of your money is a sign of spiritual stewardship. You know that it is not yours, that you are merely an administrator of the funds in your charge. Giving opens up your hand to recieve.
Rule 3 -Pay yourself the next 10%
Many of us have so many other people on our budgets except ourselves. We pay the power man, water man, provisions man and we forget in the frenzy, to pay ourselves. One of the most popular financial books - The Richest Man in Babylon, alludes clearly to the fact that 10% of what you earn should be saved as yours. What you pay yourself is not for Mr or Mrs Biggs. It’s yours to save.
Rule 4 -Live on the rest.
Many of us find it increasingly and extremely difficult to live within our means. Before we collect the salary for the month, 80% of it is already carried forward to service debts. We must learn to live within our means. Parkinson’s law states that when money increases, those that will help consume it also increases. We must however learn how to contain ourselves within our means. Atimes we need to dim our present, to brighten our future, and finally.
Rule 5 -Account for every penny
Now this is difficult. It involves being shrewd and taking the time and dilligence to track daily spendings. There are two parts to accounting for every penny (kobo), one is done ahead of spending, called budgeting, and the other after spending, called accounting. Budgeting is planning, this is crucial to financial success. The pain of accounting is not absolutely useful on the short term, but on the long run it gives you a clear picture of your priorities.
A rich man once said, “Money is game” If you know the rules you win, if you don’t know the rules you don’t win.
Indicate your interest in The Game. If we have spill overs we’ll need to reschedule another session for them. I look forward to seeing you on the 28-29th of May.
Just in case you want to know what people have said about the game, this is for you -
“Learn why the idea of creating wealth by building assets (by having a home, car, clothes and jewelry) is a myth and how one simple shift in your thinking can change your financial life. Learn the secrets of cash flow and how to never worry about money again. Learn how to achieve your dreams, how to stop the financial “bleeding”, how to become financially secure, and how to get out of the rat race forever.
This board game will transform the “money mind-set” of anyone who plays, whether they are new to financial information, or seasoned investors”
“I am an adjunct instructor in the Entrepreneurship Program at the University of Arizona and have been looking for educational materials that would give my students practical, simulated experience on how cash flow actually works in real life situations. CASHFLOW 101 is the only educational tool/game I’ve found that REALLY demonstrates the effect and interconnections that a single decision can and will have on your balance sheet and income statement. I’ve played this game with a number of my students and they have told me that they finally ‘get it’ when they make a buy/sell decision on the game board and then have to make numerous adjustments to their balance sheet and income statement.”
This post was read by 30883 people until now.“Wow! A picture is worth a thousand words! This game is an absolute must for business students at all levels! In fact it is an absolute must for anyone who plans to live longer than the next 24 hours!”
Carolita Oliveros, Lawyer and Adjunct Professor
Entrepreneurship Program, University of Arizona
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Deolu,
A message in time again. I don’t think there would have been a better time than now to come up with a write up like this. especially with the type of inflow some of might be expecting and are already getting from the various scheme around.
The major challenges we will be facing is what you have tried to help us address.
once again, thanks
Look farwad to seeing you guys at the top
Josh
08034389504
Deolu,
there is nothing better than planning. it makes you co-ordinated and organized.
i have in no doubts gained once more from your wealth of knowledge….
Hope to be at the game.
Deolu,
This game is something I have desired to play for over 2 years. Thanks for creating this rare opportunity here. Kindly be more explicit with the time on 28th as well as the exact name of the hotel. It would help us plan since Monday’s traffic is usually heavy.
This is an opportunity of a life time, i have read Robert Kiyosaki’s Rich Dad and Poor Dad, and it is highly recommended.
I think it is those who have read this book that will really undertsand the Cash Flow game, and going by his wealth of knowledge, the game is highly recommended, i sure wont miss this rare opportunity.
deolu , i am signing on for this . please provide registration details asap.
You could send details tom my box.
kusholadipo@yahoo.com
Regards
Kenn
Deolu,
This is very kind of you,if some one have actually read the book on rich dad poor dad on will appreciate the game,but I know without even reading the book,Deolu he master will put someone through the game.
I hope after the session another one will come up,bcos this May ending is my organisation’s financial year end and the public holiday is already booked with dotting the i’s and crossing the t’s.
Keep up the good work and God bless you richly.
Thanks again for your insightful writeup. I have been looking forward to having an opportunity to actually play this game since I read ‘rich dad, poor dad’ some years ago.
I’m due to be back to Lagos on 28th, and I hope I will be back in time to be able to attend, I will give you a call to get the details.
I must say here that I believe you don’t have to have read the book before giving the game a go. Anybody will really be able to flow with this game, once the instructions are gotten properly.
Deolu thanks for the opportunity. God bless you.
Deolu,
Thanks for your concern and i believe this programme will be good for us all ,please send in the address and detail of the hotel i will love to pertake in playing the game,actually i have not read the book but i promise to before 28th.
Looking forward to the address .T
Deolu the lord his your strength.
Ajoke
I am single and dont have a friend to pair-up with, how much would it translate to for me to be involved in this, and where is the venue of the GAME.
Dear Sir,
Thanks for giving this rare opportunity to couples…but I’d appreciate if any arrangement is made for serious-minded singles…I don’t care, I mean i really don’t care flying from abj to harness this golden opportunity…thanks.
@ Deolu
I am interested, please sign me up for cashflow 101.
I sent you a text.
Cheers
After reading so many books on how to build your financial empire.this is a golden opportunity to do something practical.
look forward to the D-Day.thanks for such a chance.
@ All
Thanks for showing interest, I’ll however need for those of you who haven’t indicated your email or phone numbers to please send you details to dotdolies@yahoo.com, this is to ensure you get information about the venue and timing. We are considering a number of hotels, this will also determine how much, but we have pegged it at 30k max.
@ Ife
It’s not just for couples oh… that is why I said duo. You might want to come with a friend. It can be guy guy or girl girl, it’s just so it’s economical and we don’t spend all our hard earned funds playing. I hope you understand.
Hi Deolu,
I’m very much happy to read of the great and impactful events you are have been organising and more interestingly the numerous positive responses from people to participate in them all. Sincerely, it’s my heart desire to be part of these stuffs but distance is a barrier for me now because i’m resident in UK.
I’ve also read the RICH DAD POOR DAD book, it has really impacted my life, i would have really love to be part of this retreat to play the cash flow game.
Great innovation Deolu, please keep up the great and good work, the Lord is your strenght, help and wisdom. The future is really great for Nigeria youths and beter things are happening already. I must also say that reading stuffs on this website has really make me home sick, my heart is very much at visiting Nigeria as often as possible so as not to miss totally the good things that is happening, i hope when i come around there will be some gatherings or seminars i can partake of too.
To all Nigerian young men and women, who have been learning as much as possible about financial intelligence, i believe this summit too will be a memorable addition to your learning process, so don’t miss it, God bless you all.
@ Peter,
Thanks, I really appreciate your kind words.
@ All
We have finally found a wonderful hotel to use. Elomaz hotel, the hotel is new, just started this year, it’s beside planet one on Maryland. This will be the first one, and will be like a retreat, it’s not supposed to be profitable (this time around), so we’ll refund any amount spent less than N30,000. It will be an opportunity to unwind and who knows, also come out with some bright ideas.
For all who sent mails directly to me, rather than comment here too, you are covered.
Cheers
Adeolu
My post is going to be a bit windy.Read it or skip it.
I actually intend to commend Deolu for the good job he is doing. He is one guy I have always had a lot of respect for dating back to our days in Ife.
He exemplified a lot of the ideas some of us always had ,even as an undergraduate in the EE dept.
The high point of our relationship was when he came back to Ife to interview candidates for Procter & Gamble.
I was still on campus and billed to interview with him; Not only was he called Pastor (former leader of SCM fellowship) and I was an “Imam”-one of the leaders of the MSS on campus then, but while almost every interviewee was suited up, I was decked in full native brocade,with a beautiful cap to match,a negative you would say.
Nevertheless, I got the job ( 3 people were chosen from a pool of 500 candidates),and my respect for Deolu increased.
I went on to work closely with Deolu in P&G and even after leaving the country,kept in touch with him.
I am not surprised at what he is doing now,as I believe he is capable of DOING MUCH MORE!
Keep up the good work!
I am NOT sorry for boring anyone!
@Deolu,
This is a very wonderful opportunity you have given.
I have always wanted to play the Game since I read Kiyosaki’s Books.
Please count me in. I will make myself available for this event.
God will continue to bless you, cos you are really an inspiration to so many people.
hi deolu, not a bad idea at all. Is it possible to get the game itself.
Hello friends, this info will change your life forever if you act now. let your money work for you. I joined the 6K4U that yields $6000 or N780,000 in 6 to 10 weeks by just investing N24000 for 2poeple. I joined in less than a month ago under Deolu’s team and have entered the board and will be cycling out to get a $6000 in no time by Gods grace, imagine what you could do with this kind of money in Nigeria. investigate this info and you’d discover its not a scam but its for real. when you make up your mind you can join this winning team now!!!
To Join: http://www.6k4you.com/6k.cgi/odedinasat/join.html
My Ref:
http://www.6k4you.com/odedinasat
cheers,
Prince
Deolu
This is soo true. These are simple principles that people often ignore.
Thanks for sharing.
@ Idris…
Thanks so much for those words. I can clearly remember the way you came for the interview that day (5yrs ago). What mattered was what you had on the inside, and I had learnt not to judge a book by the cover. You went ahead and proved yourself, I remember how much it meant to the company when you had to go to the US for your masters.
Thanks for sharing.
[...] Here is a short excerpt of Adeolu’s post, that teaches us how to become financially intelligent business people: There are two parts to accounting for every penny (kobo), one is done ahead of spending, called budgeting, and the other after spending, called accounting. Budgeting is planning, this is crucial to financial success. The pain of accounting is not absolutely useful on the short term, but on the long run it gives you a clear picture of your priorities. [...]
Deolu,
i can’t but commend your efforts to see that Nigerians get to be “individually independent” through the wealth of information you post.
I have been greatly challenged.Financial intelligence 101 leading to the cashflow game is a rare idea that can only come from great thinkers.
I feel it’s no coincidence that the game is on till May 29…Democracy Day….envisioning a financial revolution in the country.
I am looking forward to meet with you.
Hi,
Please all interested participants for the Financial Intelligence 101, should call Yemisi on this no-08023623119 for booking and more information as the spaces are limited.
The program schedule is as follows;
Date: Monday 28th- Tuesday 29th May
Time: 5 p.m
Venue: HS Continental blue Ribbon. 3 Allen lane, off Allen Ave
Ikeja, Lagos.
N.B: The registration fee is #30,000[couple,duo or single], and the first 10 to indicate their interest should come to the venue with their money after confirmation from Yemisi.
Regards
Yemisi
For GUTS
GREAT IDEA, I HAVENT READ D BOOK BUT WILL SURELY BE ON THE LOOKOUT TO GET IT.
WISH U GUYS A WONDERFUL TIMEOUT ON DEMOCRACY DATE.
ITS MY WEDDING ANNIVERSARY SO BOOKED FOR D DAY
DEOLU NICE WORK
BYE
@ Onadipe,
That sounds very much like what one of the people invited for the great banquet in the bible said, I have just married and I can’t come for the banquet ;), why not come with your wife, and do your anniversary in Blue Ribbons… and also learn, who knows this may be the door to doing it in Dubai, or the Caribbeans next year. lol… I mean well oh.
Hi Deolu,
I am a new comer to this blog ant it has been wonderful reading all these few days.
Deolu, could you kindly outline all your programmes like a month ahead so that people like us who live out of Lagos can plan ahead to attend.
I would be in Lagos for two days early June (7th -9th) what programmes are available on those days?