Financial goals are ways of thinking about the analysis of finances in business. Compliments of the season to all of us, who by the grace of God, had the opportunity to see the beginning of yet another year. Some people had more money than you could ever dream of, some were powerful officeholders, and they had gone with the year 2012, but you are still here! No wonder the Bible says. A live dog is better than a dead lion. (Ecclesiastes 9:4)

Introduction

Did you think of your financial goals today? I know you have offered a prayer of thanksgiving during the cross overnight; you also did not forget to do the same at the first Sunday service of the year. All the same, I want you to pause a bit here and say a word of appreciation to God for the gift of life. It is he who has a life that can think of financial breakthroughs.

When I was a bit younger, we used to deceive ourselves by going to church every Ist of January to make a “New Year Resolution”. Many of us then will strive to keep to our solutions for the first few weeks in the New Year, before you say, Jack Robinson, we had forgotten all about the resolutions! Our dogs would then go back to their vomit.

Set goals for yourself.

Set financial goals for your business today. The issue here is not whether we even keep to the resolutions or not, but that we know there is something called “resolution” Let me ask you, when was the last time you set a financial goal for yourself at the beginning of the year?

The New Year is still young, can you pick up your pen and paper and write down “something” as your expected financial goal in the year 2013? To have a meaningful financial goal, you must at least have an idea of your expected income and expected expenses…a budget if you want to call it that.

If my salary is N25,000 per month, all things being equal, I should expect at least N300,000 this year. That seems like a lot of money, but you should know that the bulk money will not come to you; it will trickle in every month for at least 2 calendar months.

I should be able to also determine how much I will pay for my house rent, transport to and from my office, feeding for the family, my tithe, my children’s school fees, gifts, offerings in church, PHCN monthly bill, recharge cards, DSTV subscription (if any), internet subscription (if any) laundry…and other expenses.

Rumination

“Do not be deceived by the fact that if you receive a salary increase, you will be better off, take it or leave it, those who receive double or triple your salary are also on the lookout for a salary increase.”

You know yourself more than I do. If you add all these together in a month, how much will be left as savings for you? If nothing is left, it means the entire 300,000 that will enter your hands this year will also slip through your hands if there is no room for savings. This can be described as suicidal for one who intends to have a financial breakthrough.

Set your financial budget.

“If you discover that your expected income may not meet your budget, there are two options: you can remove some of the things on your budget and tailor it to meet your salary, or you can think of how you can generate additional income apart from your static salary.”

At the end of this exercise, you may discover that your “meagre” salary may not be able to meet all that you have listed on your budget. Do not be deceived by the fact that if you receive a salary increase, you will be better off; take it or leave it; those who receive double or triple your salary are also on the lookout for salary increases.

How do | know? It is because I have been there. In |996, my salary as a level 08 step 03 officer was less than N3,000 in Lagos. In |997,1 got another teaching job in a private school and my salary rose to N3,000. In two years, my salary rose to N20,000 while my colleagues in the government service are still struggling with their old salary…guess what?

Rumination

My colleagues and I in the private school were still singing, “All we are saying, give us more pay” Our thought was that the school authority was wicked; why can’t they pay us at least N50,000 a month? With that, we are sure nobody will trouble them for a salary increase again. Guess what? Before I left the school in 2007, my salary had risen far and above the “almighty” N50,000! What a remarkable change you will say… but then, our song still did not change.

Now you know where I am coming from. A badly written budget is better than none at all. After all, is said and done, if you discover that your expected income may not meet your budget, there are two options; you can remove some of the things on your budget and tailor it to meet your salary or you can think of how you can generate additional income apart from your static salary.

This is what I want you to work on this year. Have you discovered any “problems” or “challenges” around you? Can you offer a solution to the challenge or problem? If things are sold at cheaper prices in the city, can you buy and sell those things around you? If you have access to a loan, can you buy in bulk and sell in retail?

Do you know you can sell to your colleagues and ask them to pay in two instalments? I and I make a gain of 20% on your purchase, return the loan to the cooperative with the interest, and the rest is yours. If you cannot buy and sell, can you render a service? Just think of something you can do that can add value, and people will pay for your services.

The Family must work out a financial budget.

Set your financial goals today. Let me ask you, either as the “head” of the home-husband, or the “neck” of the home-wife, or the “mouth” of the home-children; have you all looked at that budget together? How do you think your family can achieve the financial goal you have set? If you are fortunate in your family that both the husband and the wife are receiving income, no matter how small, how do you think that budget could be funded? I know most of my readers are Christian,s and as such, it will not be difficult for the wife to obey the Biblical injunction of being submissive to the husband in all things.

Rumination

I once led a programme on marital counselling for the youth and I asked the brothers in the house; if your wife gave you the surprise news that she had just completed a building project she had been working on for some years now and she would want you and the children to leave your rented apartment and move to her new house…what would be your reaction? The youth in the house were so angry to the extent that you could see it written all over their faces; who helped her to buy the land? When was the land bought? How much was it?

Who supervised the project? Where did she get the money she used in building the house if she had told me her salary? Trust the youth, their blood is still hot, and not one of them said he would go to the new house.

As an elderly person who had been married for years, if your wife came with that surprise package, what would you do? I have used this analogy because if your family wants to achieve any meaningful financial goal this year, both the husband and the wife should work together. The husband as the head of the home should strive to fulfil his obligations as the head but then, the better half should not fold her hands and allow the man to die in silence…it is not right, by all standards, for the wife to ask for the money she used to buy salt from her husband! Everyone needs financial goals.

Conclusion

We have learnt about financial goals. As we conclude this piece, go with me to the book of 2 Kings 4:8-10 again. It was said of the Shunamite woman that she was well-to-do. How come the wife was richer than the husband? The Bible did not tell us, but the indices are there that the wife can be richer than her husband, who should not and cannot make her become the “head” of the home.

Rumination

Have you thought about financial goals? Did you notice how the idea of a room for the man of God was executed? It was the woman who saw the man of God, she had a plan in mind, and she had money to implement the plan without her husband’s knowledge but then she said to her husband; “Let US make” Why did she not say, “Let ME make” After all, she was a well to do woman?

Did that send a signal to you and your family as you begin the New Year? Of what use is the idea of the husband and the wife that are building two separate houses under the same roof, and at the same time, where one belongs to “Mr Konko” and the other to “Ms Jabele”

I need a marriage counsellor to reorient me here. My thought was that whatever I have belongs to my wife. If | have one wife and whatever my wife has belongs to me, she has not divorced me. How come the reverse is what is in vogue now, even among the elderly?

Last Word: But remember the Lord your God, for it is He who gives you the ability to produce wealth. You shall succeed. You can read more similar posts on our business page of the site.