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| Senator Andy Uba & Oba Otudeko |
I love this one.
It is such a challenge to give money to people who:
It is such a challenge to give money to people who:
• Haven’t asked
for it
for it
• Need it
• Deserve it
• Will use it
wisely/well.
wisely/well.
And the
challenge is to get them to accept it without feeling indebted to you,
beholden, grudging, guilty, whatever. This is one of those rules we all ought
to practice no mater how much money we have. I reckon you get to start as soon
as you become a parent and give your kids big money for cars and things. They
are always saying: ‘I’ll pay you back’ and you know they won’t. But if you can
give them money without all that stuff being attached to it, you are doing
well.
challenge is to get them to accept it without feeling indebted to you,
beholden, grudging, guilty, whatever. This is one of those rules we all ought
to practice no mater how much money we have. I reckon you get to start as soon
as you become a parent and give your kids big money for cars and things. They
are always saying: ‘I’ll pay you back’ and you know they won’t. But if you can
give them money without all that stuff being attached to it, you are doing
well.
There are a
variety of tips to help you give your money away without them feeling guilty or
you embarrassed:
variety of tips to help you give your money away without them feeling guilty or
you embarrassed:
“I’m sure if you put your mind to it there will be
many more you can come up with. Hey, this one is fun. You get to help others,
give loads away, share your wealth and be creative all at the same time”.
• The ‘You might win the lottery one day’
approach. This is a good one as it implies that there, but for a bit of
luck, you go. All they’ve got to do is be as lucky as you and they’ll pay you
back.
approach. This is a good one as it implies that there, but for a bit of
luck, you go. All they’ve got to do is be as lucky as you and they’ll pay you
back.
• The ‘Fortunes change and they go down as
well as up’ approach. Basically what you are saying is that you are flush
at the moment but that might not always be the case and when your fortunes go
down, they can help you out.
well as up’ approach. Basically what you are saying is that you are flush
at the moment but that might not always be the case and when your fortunes go
down, they can help you out.
• The ‘I like my friends to be happy’
approach. How can I be happy when I see my friends in
misery/trouble/debt/whatever? If you aren’t happy then I can’t be, so I’ll help
myself to become happy by helping you to become happy. How can anyone refuse?
approach. How can I be happy when I see my friends in
misery/trouble/debt/whatever? If you aren’t happy then I can’t be, so I’ll help
myself to become happy by helping you to become happy. How can anyone refuse?
• This is the ‘Why shouldn’t I help my
friends?’ approach – a subset of the one above but still valuable and
useful. Look, it’s what friends are for. You’ve helped me out in the past/are
helping me by…/have always offered help anyway so why can’t I do the same for
you?
friends?’ approach – a subset of the one above but still valuable and
useful. Look, it’s what friends are for. You’ve helped me out in the past/are
helping me by…/have always offered help anyway so why can’t I do the same for
you?
• The ‘Help me out here, I’ve got a tax
problem’ approach. Look, if I can offload some of this cash I can alleviate
my tax burden, so can you help me by taking some? I would be ever so grateful.
problem’ approach. Look, if I can offload some of this cash I can alleviate
my tax burden, so can you help me by taking some? I would be ever so grateful.
• The ‘Taxman will only get it after I’m dead
approach’ so can I give it to you now and see the pleasure it’ll bring you
rather than you be grieving and moping after I’ve gone?
approach’ so can I give it to you now and see the pleasure it’ll bring you
rather than you be grieving and moping after I’ve gone?
• Help them with a housing upgrade by taking
equity in the new house. They pay nothing until they snuff it, at which
point your investment will probably show better appreciation than the interest
rate it would have earned on deposit, and if it doesn’t so what? Profit was
never the point anyway, but they can feel happy about it.
equity in the new house. They pay nothing until they snuff it, at which
point your investment will probably show better appreciation than the interest
rate it would have earned on deposit, and if it doesn’t so what? Profit was
never the point anyway, but they can feel happy about it.
I’m sure if you put your mind to it there will be
many more you can come up with. Hey, this one is fun. You get to help others,
give loads away, share your wealth and be creative all at the same time.
many more you can come up with. Hey, this one is fun. You get to help others,
give loads away, share your wealth and be creative all at the same time.
From The Book; The Rules of Wealth by
Richard Templar
Richard Templar
(Read Rule
95 of Rule of Wealth tomorrow on Asabeafrika)
95 of Rule of Wealth tomorrow on Asabeafrika)
Read-to-Wealth Series
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