DG consulting ltd

What is your FIN number?

A FIN is your financial independence number.

Your FIN is the amount of money you have saved or invested so that living off the interest on that money covers all your living expenses and you no longer need to work anymore.

Some called it FU* money.

How do you calculate your FIN?

You can calculate your FIN using the "4% Rule."

The "4% rule" is often discussed among early retirees as the safe withdrawal rate.

What's the math behind it?

1. Annual expenses x 25 = investment needed

If your annual expenses are 50,000 FCFA, You will need to save or accumulate an investment portfolio of 1,250,000 FCFA to reach your FIN.

2. 1,250,000 x 4% = 50,000 FCFA

With your FIN of 1,250,000 FCFA, you can safely withdraw 50,000 FCFA every year and continue living your life without worrying about money as long as you don't increase your expenses.

What's your FIN?

Money Is JUST a Game. Learn the Money Game.

Starting Your Own Business

To increase your income, one option is to start your own business. If you need more information about registering a company in Cameroon, feel free to message me directly.

Here is how you get started:

1. Develop a Business Plan.

Begin by creating a comprehensive business plan. This will prepare you well and determine the feasibility of your business idea.

2. Consider the Following Factors.

a) Uniqueness: Identify what sets your business apart and why customers would be attracted to your goods or services.

b) Competition: Understand the primary differences between your company and competitors.

c) Value Proposition: Determine the key driving factors that make customers choose your business over others.

d) Customer Motivation: Identify the underlying reasons a customer would choose to do business with your company.

3. Define Your Business and Vision.

Clarify your vision for the business, as it will be the driving force behind your venture. Answer the following questions:

a) Who is your target customer?
b) What is the nature of your business?
c) What products or services do you offer?
d) What are your growth plans?
e) What is your primary competitive advantage?

4. Set Goals.

Create a list of goals with brief descriptions of action items. Differentiate between short-term goals (6-12 months) and long-term goals (2-5 years). Be specific about what you want to achieve, both personally and for your business.

5. Understand Your Customer.

a) Identify unmet needs: Determine what needs your prospective customers have that are currently unfulfilled.

b) Fulfill desires: Consider the wants and desires of your customers.

c) Solve problems: Identify the specific problems your product or service can solve.

d) Manage perceptions: Understand the positive and negative perceptions customers have about your business and industry.

6. Learn from Your Competition

Study your competitors to gain insights about your business and customers. Consider the following:

a) Target market knowledge
b) Competitor analysis
c) Market approach of competitors
d) Competitors' strengths and weaknesses
e) Improving upon competitors' strategies
f) Ideal customer demographics and psychographics

7. Financial Matters

Determine how your business will generate revenue, calculate your break-even point, and assess the profit potential. Create financial projections that consider factors like accounts receivables and payment terms.

8. Marketing Strategy.

Develop a marketing strategy by following these steps.

a) Identify target markets: Define your ideal customers or target market.

b) Qualify the best target markets: Further refine your target market to increase the chances of success.

c) Determine tools and strategies: Choose effective tools and strategies to reach and educate your primary market.

d) Test marketing strategy and tools: Verify your assumptions and test all aspects of your marketing strategy to avoid potential issues.

Continuous learning is vital for success in business. Adapt, grow, and persevere in your entrepreneurial journey.

Learn or Perish.

When you hear the term "personal finance management," what comes to mind?

Personal finance management encompasses all the financial decisions and activities of an individual, including budgeting, insurance, savings, investing, debt servicing, mortgages, and more.

Successfully managing your money is the key to achieving financial well-being. It involves the following:

1. Managing your income: The foundation of financial success lies in spending less than you earn. By doing so, you can start building wealth through saving and investing.

2. Managing your debt: The most effective way to handle debt is to minimize it as much as possible. Step one is to stop using your credit cards and then work towards paying them off. Experts recommend keeping your debt payments below twenty percent of your income.

3. Managing your savings and investments: There are two types of savings: regular savings and investments. Investments are particularly beneficial as they generate earnings and increase your wealth over time.

Every individual should engage in personal financial planning to:

- Enhance well-being
- Make informed savings decisions
- Prepare for unexpected expenses such as loss of income, end-of-life expenses, blocked credit cards, or national crises.

Budget management involves being aware of your income and expenses and planning for the future.

Savings ensure financial stability during unforeseen circumstances such as accidents, unemployment, negative credit history, major purchases, and more.

Therefore, it is crucial to put effort into organizing your finances and having confidence in your ability to manage personal finances.

Learn or perish.

When you accumulate assets for your investment portfolios.

Always try to ensure that the assets you're accumulating serve these three purposes.

This is to avoid accumulating lazy assets or assets that would be difficult to dispose if you want that cash to invest in other assets.

1. VALUE APPRECIATION

* You've spent 250,000 FCFA buying a share of SGC bank; does the management have the capability to turn your 250,000 FCFA into 300,000 FCFA and how long will it take?

1. INCOME

* Is your asset generating positive cash flow, dividends, or rental income?

TRADABLE

* How liquid are your assets? How quickly can you turn your asset into cash?

Money Is JUST a Game. Learn the Money Game.

Here's a finance hack I teach my consultees who are not financially disciplined.

It works 98% of the time.

1. Get a job or sell something.

2. Open 3 accounts (Cheque, Savings, and Investment).

3. As soon as money enters your cheque account, do the below:

Split it according to 10%, 15% and 75%.

* Transfer 10% into your savings account.
* Transfer 15% into your investment account.
* Keep 75% in your cheque account for spending and expenses.
* Keep repeating the process every month

Once your savings account has funds that can cover 3 or 6 to 12 months of your monthly expenses, now split your money into 75% and 25% (75% expenses and 25% investments).

Try to automate this process via debit orders. So that the only money left in your checking account is 75% for expenses.

Do this religiously for the next 7 to 10 years.

I will be your accountability partner. Every month, I ensure you stick to your plan.

*** Stop complicating the money flow process, finance, and wealth building process. Just go the easy and boring way.

Money Is JUST a Game. Learn the Money Game..

Some days back, I asked a question: What does money mean to you? not what you hear people say what it means, but what does it mean to you?

Most people have complicated relationships with money. After all, money serves a very important role in our lives, from accessing a roof over our heads, putting food on our tables, and entertainment to having choices in what we eat, wear, drive, and places we go.

Below are some of the money questions that highlight some of the common money beliefs and habits most people have, some of which you can probably change and that can help you manage your money better.

AM I PRIORITISING MY EXPENSES PROPERLY?

Unless you have more money than you know what to do with (in which case, you can stop reading now), you probably try to stick to a budget every month. If you don’t, now is the time to start. As part of your budget planning, you’ll have to look at your spending priorities. One of the first questions to ask yourself then is “am I prioritising my expenses properly?”.

In other words, are you being honest about the distinction between what you need and what you want, and spending accordingly?

It’s okay to buy things you want, but it’s important to satisfy your needs (emergency account, savings, investing, accommodation, health insurance, groceries, etc.) before you delve into your wants (new clothes, a new car, TV or laptop, etc.) and to not spend on the latter recklessly.

AM I SPENDING MY MONEY ON THINGS THAT TRULY MATTER TO ME?

Take a good, hard look at your budget and ask yourself whether your spending habits mirror your values (and whether those values are compatible with financial security). If not, then ask yourself what can you change to ensure your budget better aligns with your savings goals, your beliefs and your overall financial plan.

WHAT IS THE LAST THING I REGRET BUYING?

Time for a moment of truth; think hard about your last few purchases and ask yourself if there is anything that you regret buying. If there is, you’re certainly not alone. Think about why you’re unhappy about the purchase it, what made you buy it in the first place and what you could do in the future to ensure you don’t buy things you’ll regret later. Analysing unwise purchasing habits can help you to avoid repeating them down the line.

DO I HAVE TOO MUCH DEBT?

Debt can spiral out of control a lot faster than you might imagine (It takes just one small credit purchase to push you beyond what you can afford). If you’re already in debt, ask yourself this: do I buy this new car or focus on paying off some of my debt as quickly as possible.

HOW WOULD MY BUDGET LOOK WITHOUT DEBT PAYMENTS?

How good would it feel to not have any debt repayments (and interest payments) and, instead, be able to put that extra money my investments accounts.

IS THERE SOMETHING I CAN DO TO INCREASE MY INCOME?

If you're not happy with how much you are currently earning, think of ways that you can change that. Perhaps you can freelance, tutor, get a part-time job or upskill so that you can get a raise or better position at your current place of employment. It might even be time to move forward with that small business idea you have, although this should be done with caution - you definitely don’t want to get into more debt.

WHERE DO I WANT TO BE FIVE TO SEVEN YEARS FROM NOW?

Having clear financial goals helps you to stay focused. If you don’t have any, set some time aside as soon as possible to set a few SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound). Then, figure out what steps you can start taking to achieve those goals while also recognising and planning for any obstacles.

Money Is JUST a Game. Learn the Money Game.

The laws of wealth

- Earning law (making money)
- Investing law (multiplying money)
- Spending law (facilitating & allocating money)

Don't ignore them.

A lot of people ignore these laws or take them for granted and never spare time to learn, understand, and implement them in their financial lives. Then keep wondering why they never escape financial distress.

Do be that person.

Learn or Perish.

Making money, staying fit, and working on your mission are already hard now, but worth it in the long run.

Building your investment portfolios, sacrificing fun, and spending weekends building your future is not fun now but worth it in the near future.

Don't make your life harder in the future by choosing the easy way now.

Learn or Perish.

Where lust is in power divorce will rise.

Where lust is controlled by love divorce will subside.

There is a direct connection between lust control and divorce.

Japan had no divorce problem until they become westernized in the last several decades.

The western promotion for lust in male-female relationships has caused divorce to skyrocket in that land.

Christian divorces are on a rise everywhere because of the influence of lust.

Wherever there is a promotion of lust there is a loss of respect of the sexes.

They each treat the other as objects of gratification.

Personhood is lost, and all that matters is the pleasure of the moment.

Marriage cannot build on such a foundation, for marriage demands commitment.

Marriage cannot survive on lust. It has to have love that says, for better or for worse.

Lust wants to bail out. It says, only for better, and when it is not better it says goodbye.

Redefine love. Redefine marriage. Marriage is a beautiful thing from God.

Many are simply looking for love from people who do not have love.

Learn or Perish.

Creating Financial Goals.

Once upon a time, there was a young woman named Sarah.

She felt lost when it came to her finances, but she knew it was time to take control of her financial future.

Sarah embarked on a journey to create meaningful financial goals that would guide her towards financial freedom.

Sarah began by reflecting on her dreams and aspirations.

She envisioned owning a cozy home, traveling the world, and retiring comfortably.

These dreams became the foundation for her financial goals, giving her a clear purpose and direction.

Sarah understood that setting specific goals was essential.

She identified short-term goals, like paying off her credit card debt, as well as long-term goals, such as saving for retirement.

By breaking down her aspirations into tangible objectives, she could track her progress and feel motivated along the way.

To make her goals realistic, Sarah considered her current financial situation.

She analyzed her income, expenses, and existing debts.

This helped her determine how much she could save each month and how aggressively she could tackle her debts.

Sarah knew that setting deadlines for her goals was crucial.

She assigned timeframes to each goal, creating a sense of urgency and accountability.

This way, she could measure her progress and make adjustments if needed.

Sarah understood the power of small steps. Instead of overwhelming herself, she focused on taking one financial action at a time.

Whether it was saving a set amount each month or increasing her retirement contributions, she celebrated each milestone along her journey.

Sarah recognized the importance of regularly reviewing and adjusting her goals.

As her circumstances changed, she adapted her objectives to stay aligned with her evolving needs.

She remained flexible, always striving for financial growth.

Sarah sought guidance from mentors, books, and online resources.

She learned about different investment options, strategies for saving, and methods to manage her money better.

With each new piece of knowledge, she became more confident in her financial decisions.

Along her journey, Sarah also realized the value of seeking professional advice.

She consulted with a financial planner who helped her fine-tune her goals and offered expert insights tailored to her unique situation.

This partnership gave her the reassurance and guidance she needed.

Today, Sarah stands proud. She's achieved many of her financial goals and is well on her way to financial freedom.

By taking control of her finances, Sarah has created a life that aligns with her dreams and aspirations.

She's an inspiration to others, showing them that with determination and a clear plan, anything is possible.

Learn or Perish.

Financial planning is the straightforward process of arranging your finances to align with how you earn, save, spend, and organize your money to ensure financial security and well-being for both short-term and long-term goals.

It's a crucial aspect of personal finance applicable to everyone, regardless of their current financial situation.

To kick off your financial master plan, the first step is to designate a specific time and gather all necessary resources.

It's important to be intentional and proactive in this process, so consider removing yourself from your usual environment to focus.

You'll need a place to jot down your intentions, whether it's a notebook or a laptop, to ensure you're not just making mental notes but committing your plan to writing.

Additionally, gather your financial statements, including bank, loan, savings, and investment statements, to assess your current financial standing accurately.

Choose a tool to aid in the planning process, such as a mobile app or an Excel sheet.

Once you've set up a conducive environment and collected the necessary resources, the next step is to clearly define your financial goals.

Financial goal setting may seem daunting, but it's a straightforward process.

Break down your goals into short-term (next 12 months), medium-term (2 to 5 years), and long-term (5+ years) objectives.

Ask yourself what you need to achieve financially within these timeframes and attach specific timelines and amounts to each goal.

Remember, a financial goal isn't complete without a numeric target.

After setting your goals, determine your income sources and budget accordingly.

Break down your income to cover expenses and savings for each goal.

If there's a deficit, consider cutting costs or finding ways to increase income. Managing your income and budgeting effectively are crucial aspects of financial planning.

Utilize tools like budgeting templates to track your expenses, savings, and investments regularly.

Regular check-ins with your finances, whether weekly or monthly, help ensure you're on track and allow adjustments as needed.

Lastly, remember that financial planning is an ongoing process, not a one-time event.

It requires continuous monitoring, adjustments, and commitment to your financial goals.

Embrace financial literacy as a life skill and incorporate it into your lifestyle for long-term financial well-being.

Consider joining my personal finance group for in-depth guidance on financial planning and budgeting to achieve your best financial life.

In the group, you will receive a comprehensive tracker and budgeting templates to apply what you've learned effectively.

With dedication and the right tools, you can take control of your finances and work towards your financial goals confidently.

Learn or Perish.

Why Financial education is important

Financial stress amongst employees can affect a company's healthcare costs.

It can also affect an employee's productivity and increase absenteeism.

Unfortunately some employees may even be dismissed due to poor personal financial management.

Financial education can play an important part in helping your employees improve their financial literacy levels.

This can lead to better financial behavior and eventually improve Financial situations.

Good Financial education is not due to random exposure rather, financial knowledge and skills can be learned systematically through our structure programs.

✓ Money management and financial planning
✓ Credit and debit management
✓ Insurance planning
✓ Retirement and estate planning
✓ Investing

And many more.

Let's Help You To Be Financially Literate And Confident.

Money Is A Game, Learn The Money Game.

Learn Or Perish.

When was the last time you printed out your 3-month bank statement or momo statements for yourself, not for someone else, and then did a full 3-month audit?

- Checking the transaction fees you've paid over the last 3 months?

- Checking how much money you've spent and where you've spent it?

- Checking suspicious transactions?

- Checking how much money you truly spend on non-planned purchases?

How do you monitor your money flow, spending and keep track of your finances?

Do you really want to be wealthy?.

Money is only a result of resources being exchanged.

But I don't have resources?

- Your mind is your resource; think and grow rich.

- Your hands are your available resources; learn a skill and get paid (carpentry, bricklaying, boilermaking, fixing computers, TVs, cell phones, etc.).

- Your mouth is your resource; become a speaker, facilitator, teacher, voiceover artist, etc.

If you have no service that you are providing, you should not receive money unless you are happy bagging.

- You get money by providing your service to your employer (job).

- You get money by serving others (by providing professional services like being a doctor, a nurse, a consultant, etc.).

- You get money by selling a product (side hustles, entrepreneurship, or running a business).

How do I make more money?

1. Increase your value.

- Continuously invest in yourself; become a subject matter expert in your field.

2. Find a way to service the many

- Find a way to serve 10 customers or clients, then doublicate your service to 1000.

Money Is JUST a Game. Learn the Money Game.

Have you ever questioned your own limits?

Have you ever caught yourself settling for less than you're capable of?

It's a common theme in many of our lives where we coast through days, weeks, or even years without really questioning the boundaries we've set for ourselves. But here's the potent question: Why not?

Step into the spotlight. It's a simple question, yet it has the power to unravel layers of complacency and fear that hold us back.

Asking why not is about confronting the internal narratives that limit you; it's about challenging self-doubt, your fear of failure, and a call to action urging you to rise above mediocrity and embrace the potential for greatness that resides within you.

Don't let life, situations, and things just happen to you. Take charge of your life and the situations in it. Be proactive and constantly examine your life, your decisions, and your actions.

Learn or Perish.

In 2012, while I was studying in Douala, I vividly remember sending 3,000 Frs to my beloved grandmother.

Little did I know that this act of love and support would trigger a barrage of questions from her.

She wanted to know the source of the money, my current employment status, and even expressed concerns about the company I kept.

It was a different time, and her intentions were undoubtedly rooted in love and protection.

Back then, parents and grandparents were more cautious about their children's finances.

They sought to ensure their well-being and shield them from potential harm.

My grandmother's inquiries were not out of mistrust but rather a reflection of the values and norms prevalent at the time.

She wanted to be certain that I was on the right path, staying away from negative influences and embracing a righteous lifestyle.

Fast forward to today, and the landscape has dramatically shifted.

Parents now welcome their children home with open arms, accompanied by luxury cars and expensive gadgets.

The reception has changed, and the questions that were once so prevalent have seemingly faded away.

This transformation can be attributed to various factors that have reshaped our society.

One significant change is the evolution of technology and the digital age.

Opportunities for wealth creation have expanded exponentially, and with it, the means to acquire riches have diversified.

Unfortunately, this has also paved the way for some to engage in illegal businesses, dubious activities, and other unethical practices.

The allure of quick wealth and societal pressure have driven many astray, leading to a rise in questionable financial practices.

However, amidst this changing landscape, it is crucial that we reflect on the values instilled by the previous generation.

The lessons my grandmother taught me about integrity, hard work, and the importance of a righteous path remain timeless.

While the times may have changed, the core principles of honesty, responsibility, and ethical behavior should never be compromised.

Let us remember that wealth gained through dishonest means is fleeting and can have severe consequences.

Instead, we should strive to embrace legitimate opportunities, work diligently, and maintain the trust and respect of our loved ones. By doing so, we can build a sustainable future for ourselves and the generations to come.

As I share this reflection, I hope it serves as a reminder of the lessons we can learn from the generational shift in attitudes towards money.

Let us honor the wisdom of our elders, adapt to the changing times, and build a society where financial success is achieved through honorable means.

Common beginner mistakes to avoid when you start investing in the stock market:

1. Lack of basic knowledge.

Before investing, please take time to educate yourself . What are shares? What are Unit Trusts? What are Exchange Traded Funds (ETFs)? What is the stock market? How does investing in the stock market work? What are the risks of investing in the stock market? How does one avoid losing money in the stock market? Why does the stock market crash sometimes? Why does the stock market go up over the long term?

You should be able to answer these questions for yourself. Read books or online articles, watch YouTube videos about investing. Knowledge is everywhere and in many cases it is free. Don't remain uneducated if you are serious about investing.

2. Being in a hurry.

You take your time when you are shopping for clothes. You try them on and compare prices before settling for the ones you need. But when it comes to investing, something more serious than shopping for clothes, why do you want to buy the first thing you come across?

Never be in a hurry to invest. Take your time to understand the investment and only invest when you are confident and satisfied about what you know.

3. FOMO (Fear Of Missing Out).

The irony of investing is that the riskiest time to invest is when everyone is super excited and cannot stop talking about a particular investment because "it's going up 🚀", and the least risky time to invest is when everyone is scared and running away from the market because it's crashing.

Do not follow the crowd when you're investing. Be an independent thinker and stick to a long term strategy. Don't invest based on emotional reactions to short term market movements. Personally, I invest every month regardless of market ups and downs. This method of investing is called Dollar Cost Averaging (this is your opportunity to learn more about it on Google).

4. No financial goals.

Investing is a tool to help us achieve our goals. It is not an end in itself. Investing can help us to prepare for our kids education, to prepare for our retirement, to grow our wealth.

Before you invest, you should know what you are investing for, and how long you intend to invest. Having goals and time-lines helps you to remain focused and motivated. Having goals also makes it easy to measure your progress.

5. Having a short term mindset.

People seem to forget that investing is for the long-term. They always complain and tell me that they bought shares or ETFs last week and now those investments are down and they are "losing money" and they want to sell their investments and stick their money in the bank.

Guys, your investments are never going to grow overnight. If you buy shares or ETFs or whatever else on the stock market, you MUST expect it to go down from time to time. That's how the stock market works. Your investments are not going to continuously shoot upwards. However, if you remain invested, your investments will grow despite the ups and downs but over a LONG time, not in a day, or a week or a year.

6. Living your life inside investment apps.

Log out of your investment app and live your life. Watching your shares and ETFs every second of everyday is not going to make them grow faster. Also, the real danger of always checking your investments is that you're more likely to get frustrated or scared by what you see on a day by day or minute by minute basis, and sell your investments.

The stock market moves up and down like a zig-zag especially in short periods, but it moves up more smoothly as the time period increases to 5, 10, 15, 20 years etc....

7. Not diversifying your portfolio.

I have seen some beginners investing in only one share (e.g. your entire portfolio is MTN shares) , or buying shares in one industry only (e.g. you buy mining shares only or banking shares only).

Lack of diversification is very risky because if something happens to that one company, or that one industry then you might lose some or all of your money.

You should invest in many different shares from many different industries. The easiest way to diversify your investments is to buy broad market ETFs like the top 40, or the S&P500, or Total World ETFs for example. These kinds of ETFs have shares from all the industries on the stock market.

Investing in the stock market is not complicated at all, but some people complicate things for themselves and lose money because of the reasons listed above.

Wise up and

💪🏽💪🏽💪🏽

The wealthy
1. Invest in Assets
2. Understand that time is money.
3. Have a long term mindset.

Others
1. Spend most of their money on liabilities.
2. Waste a lot of time doing non-productive things.
3. Have a short term mindset.

Don't be your own worst enemy.

One day, your life will flash before your eyes. Make sure it's worth watching.

Work hard

Never give up

Dream big

Go after your dreams

Build multimillion-rand businesses
accumulate and build multimillion-rand stocks and property portfolios, buy land, and die a legend.

Learn or perish

If You're...

- Afraid of Taking Risks
- Afraid of Failure
- Afraid of Change
- Afraid of Starting Over
- Afraid of Losing Your Comfort Zone

Then You're Not Ready For:

- Success
- Growth
- Greatness

You need to understand that everything in life, always come with a price to pay and nothing good comes easy.

Use this weekend to set strategies for the coming week. Set your new financial objectives. Set career goals for the week etc.

Fruitful Sunday Ahead.

Learn or Perish.