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4 Powerful Ways To Boost Your Social Capital

By
Buzwallet Team
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Social capital, often referred to as the glue that holds societies together is an important ingredient to building lasting wealth. As it is commonly said that “your network is your net-worth”.

Social capital comprises of the value gotten from the social networks that connect individuals, businesses, and communities together. According to the Harvard Kennedy School of Government, “Social capital refers to the collective value of all ‘social networks’ [who people know] and the inclinations that arise from these networks to do things for each other”.

Building social capital, for both businesses and individuals, really comes down to developing and nurturing relationships with others.

Now let’s take a quick look into 4 ways you can seamlessly boost your Social Capital:

  • Diversify Your Network.In order to diversify your network effectively, you need to move out of your comfort zone, demonstrate value and then people will connect with you. Build and Leverage relationships by paying it forward, be willing to offer help to others and also ask for assistance when you need it. Another way to diversify your network is to attend conferences, seminars, events and workshops where you can meet potential prospects and also build relationships with people in the same business or industry or similar vision as you.

  • Trade Value

    Your network begins to grow as you develop yourself and give value to others as well. People are usually attracted to someone who is valuable. So speak to people and offer them value and guidance around your areas of expertise. Become a value giver and you will also receive same when the time comes.

  • Give out Gifts

    Develop the habit of giving without expecting anything in return, and always remember that who you know isn’t nearly as important as who knows you. When you do things for other people, by giving your time for free or gifts, you gain deposits in their emotional bank accounts.

  • Learn to Keep in Touch.One of the ways to nurture the network of relationships you have is to find ways to keep in touch. It pays to stay in touch, especially with people that adds value to your life. Your time is valuable so be strategic about your networking and checking up on them.

Finally, always put yourself in the right place to meet the right people at the right time. Boosting your social capital is about being human, communicating, networking and building good relationships with people of influence and value.

 

3 Big Biblical Investing Principles to Build Lasting Wealth

By
Buzwallet Team
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The Bible isn’t silent about how to build and increase in wealth. In fact, the bible points out to us specifics about how to wisely invest our money according to godly wisdom. The bible teaches us how to faithfully put to proper use the resources which is given to us for increase. Because, if you use what you’re given unwisely, or not at all, you eventually lose it.

“To those who use well what they are given, even more will be given, and they will have an abundance. But from those who do nothing, even what little they have will be taken away.” Matthew 25:29 NLT

In this short article, we bring you 3 Big Biblical Principles of Building Wealth:

  1. Be Faithful with Little: If you’re the that spends more than you make or earn, you’ll never be able to build wealth. “Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much.”  – Luke 16:10-11
  2. Develop a Wise Plan To Build Wealth By Investing & Diversifying It: Money doesn’t do anyone any good if you don’t put it to work. Your investment plan should basically include:
    • Find out the right investment options which you understand and is suitable for you.
    • Automatic funding of your investment accounts consistently.
    • Figure out how much you will need to save every month to reach your goals.
    • Know how much you will need to save for emergency and retirement

  3. Be a Cheerful Giver:

    Matthew 10:8- “… Freely you have received; freely give.”

    God provides you with necessary resources per time so you can not only take care of yourself but also give to be a blessing to others and the gospel. Using biblical principles of giving, the more money you have, the more you put to work, the more you can give and the more you are able to achieve Godly wealth.

God values multiplication. Money can’t grow or multiply if you don’t put it to work. God freely gives us resources including money so we can multiply through wise investing using His principles which is spread across the bible. Looking at this carefully, you see that multiplying your wealth including money through investing allows you to have more money to enjoy yourself, take care of your family/friends, give more to others and towards advancing His kingdom on earth.

Never forget this, that it is God’s will for everyone of us to prosper, increase in our finances, health, relationships, wealth and in all! To build lasting wealth of positive impact in the lives of others, His kingdom and leaving also leaving transgenerational inheritance for your children’s children.

3 John 1:2 – “Beloved, I pray that you may prosper in all things and be in health, just as your soul prospers”.

Creating An Effective Plan to Organize Your Giving

By
Buzwallet Team
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The reality of any financial plan is that it reflects the values and priorities of the individual. Financial Planning as a strategy encourages giving according to your circumstances. When it comes to giving. You know you should do it. But how, how much, and when? The Bible makes it clear that we are to give. Giving first to God, and then to others. {Proverbs 3:9, 27}. And as you see the fruit of your giving, everything changes: how you spend money, how you conduct your business, and how you even spend your time.

You Can Create a Simple Giving Plan Following these Tips:

1. Establish Your Giving Goals. put aside the amount of money you intend to earmark for giving and build this amount into your monthly or annual financial budget if you have one.

2. Determine the Recipients of Your Giving. Identify the causes and organizations you’d like to give to or support: your church, families, friends, Christian ministries, Charity organizations, relief funds, community charities e.t.c. As you become more purposeful with your giving, you will begin to notice needs that align with your interests.

3. File Your Giving Records. keep all records of your giving in a file or folder on your gadgets. This helps you maintain an organized and systematic giving lifestyle.

4. Review Your Giving Plan on a Monthly Basis. doing this will sharpen your perspective towards money and put giving as a priority in your budget as well.

Our financial goals, lifestyle, retirement goals, giving, savings, college thinking, home and everything else should reflect who we are in Christ. (Philippians 1:27)

It’s time to Plan for legacy giving!!

How You Can Successfully Combine Your Studies with a Part-Time Work

By
Buzwallet Team
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Combining work and study is no child’s play. It sure requires a good level of planning and prioritization. Not everyone has that luxury to be able to study without having to work at the same time. As a student with a part-time job, you need to find a balance that works for you.

Here’s our Advice on How You Can Successfully Combine Your Studies with a Part-Time Work:

Plan Ahead 

Planning ahead will help you find a good balance. You have to figure out your study timetable and ensure your work shift does not clash with it. Settle for a flexible job that allows you to work around your school timetable.

Be Organized

You’re not going to succeed in combining work and study if you’re not well organized. Learn to keep track of all your deadlines and make sure you deliver.

Keep the Goal In Mind

Most likely you have a goal in mind before considering juggling work and study. Maybe to gain the credentials you need to move up in your organization or achieve something else. Whatever your reason is, that needs to stay front-and-center throughout your time in school while working.

Keep Your Employer Informed

Communicate with your employer. This could be a good way to get their attention, and consider you to be really eager to work for them. Assure your employers that you can effectively manage your work schedules with your studies. If possible, sacrifice holidays and breaks to show that you are serious about your job even while studying in school.

Look After Yourself

Juggling a part-time work schedule and studying will definitely cause you to stress out sometimes. Therefore, you should be able to handle your stress in a positive way. Try to devote some time of your week a couple of times to go for a walk, gym or doing something you enjoy as a way to reduce stress.

5 Effective Tips to Practice Financial Disciplines

By
Buzwallet Team
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0

Financial discipline simply means to control your money and avoid impulsive spending. It is a discipline that anyone who wishes to attain financial success must practice. No matter your financial level now, it is never too late to start putting into practice ideal financial disciplines that brings about financial success. And when you stay true to your disciplines, success will automatically follow.

See Helpful Financial Discipline Tips Below:

  1. BUDGET YOUR SPENDING: take note of and be more mindful of how much you make, earn and spend on monthly.
  2. CREATE A LIST: organize your priorities in a creative way to help keep your spending thoughts on track.
  3. SET REALISTIC GOALS: write down realistic goals, make plans and challenge yourself to achieve them by starting from where you are now. You’ll be more satisfied in life as you achieve significant goals.
  4. REWARD YOURSELF: once in a while, buy a good meal or go shopping on a planned budget without feeling guilty of spending.
  5. SAVE SOME, INVEST SOME: whatever your monthly income is, you can always save if you put your mind to it. Alongside saving, make plans to start setting certain amount apart from your income for investments. You could consider buying cheap stocks or crypto-currencies that has high tendency to perform well with time. No matter how insignificant your savings or investments may be now, it will add up to a significant amount later.

The most successful money managers like Warren Buffet, Peter Lynch, Sir John Templeton and the likes are all successful because of adherence to their discipline.

3 Simple Steps That Will Help You Stay in Your Financial Lane

By
Buzwallet Team
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0

Staying in your financial lane simply means keeping your expenses less than your income. Personal finance is more of an ongoing responsibility. And it is essential to become deliberate about this responsibility if you truly desire to attain financial freedom.

Here are 3 simple steps you can take to keep you disciplined on the right financial lane to attaining financial freedom:

  1. Study how much you make or earn:

Take note of how much you make or earn each month, so you can make yourself aware of what you can and can’t spend monthly. Aside from the net income, you should take note of when you get paid so you can easily streamline it with your monthly expenses. With a better knowledge of this, you can now begin to create a limit on your spending and expenses where necessary. Pen down all your monthly expenses and deduct that from your income and the difference will be the money you have available for any other living expenses.

2. Build Multiple Streams of Income
Look for other creative ways to create sustainable and consistent passive income no matter how small because over time it makes a difference. Find a ‘side gig’. As someone rightly said “slow money is better than no money’. This could be anything that can boost your income and give you a good return as well appreciate in value over time.

3. Get Your Priorities Right
Decide what expenses are most important to you each month. What you need to do is to simply become more financially aware of the expenses that really matters and the ones that doesn’t. Decide to be more responsible, cultivate good financial disciplines and curb the temptations to give into lifestyle inflation or lead you to debt.

 

Cheers to Your Financial Freedom!

 

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