Secondly the wisest way to purchase anything significant is by paying cash to avoid falling into debt traps. The fact is that many assets are in fact liabilities. Sometimes we acquire loans to invest such as acquiring mortgages to purchase a house or a car that we classify as an “asset”. The P31 woman doesn’t borrow to invest, she has set aside money.Yet it is well known that money only grows with investments. Many women are good savers but many feel that they struggle with channeling it into investments. I have recently learned that money will work harder for you that you can ever work for it. She saves it for a purpose and when the purpose avails itself, she puts the money to work.
The P31 woman doesn’t just accumulate money for the sake of accumulating money. She puts aside money to invest and she then goes ahead to invest it. The 3 rd lesson is from the same verse.You will never reach your financial goals when making bad investments. A similar principle applies to any get rich quick scheme, network marketing and Ponzi schemes. this is where the land title is forged and the land is non existent or the land belongs to someone else already. In Uganda many people have “bought air” from unscrupulous land sellers. Before your spend on big, often permanent investments like land have a check list of what you are looking for and do your due diligence. The old saying goes “buy in haste, repent at leisure”. Same goes for brokers and sales agents of any description. Sometimes land brokers pressure you into a purchase by threatening you with other interested buyers. “ She looks over a field and buys it, then with money put aside, plants a garden” Just like her careful shopping habits, this proverbs 31 woman doesn’t rush into investments either. In any financial journey the first step to getting to your goals is saving money by any means necessary. It also means she probably has a budget that keeps her in line with her spending. This means avoiding impulse purchases which is one way to carelessly over spend. It may take a little more time but the bottom line is you will save money and pay with confidence when you have surveyed the market a little longer. This lady doesn’t buy the first thing she sees but shops around to find a decent bargain that will help her save some money. “ She shops around for the best yarns and cottons and enjoys knitting and sewing”. She is cost conscious and a bargain hunter.Here are some financial lessons taken from this phenomenal woman that has been inspiring ladies for generations. Phew! She seems to have found that elusive thing called “having it all”. This lady is the original multi-tasker, she runs her home, her business, her investments, serves in her community and makes sure her family is well put together and taken care of.
Even though she lived thousands of years ago in a different cultural setting and way of life, her approach to financial matters carries timeless wisdom that is very applicable today.
The proverbs 31 woman is based on the superwoman that had her life on point in all the ways many women do aspire to even today. I finally reached chapter 31 and came across this amazing woman described in the majority of the chapter. I have been slowly making my way through the Biblical book of Proverbs by reading a proverb a day based on the day of the week.
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