GOOOOAAAALL!!!!!!!!
Emeka turned off the television abruptly. It was time for his appointment with Chief. As much as he wanted to watch Iheanacho score the winning goal for Manchester City, he was more eager to hear what Chief had to say.
Shouts of jubilation rang out from his neighbours’ houses as he bounded up the stairs to the penthouse.
“I no know say City get fans for this compound” he thought to himself as he knocked on the door.
“You, mah, you be City fan?” Emeka asked Chief’s steward when the door opened.
“I no get club” was the quick response. “Please, have a seat, Chief will be with you soon.”
Emeka could hear the steward bustling about in the kitchen, making preparations for lunch. He sat back in the soft, leather sofa, surveying the tastefully furnished living room. There was a large clock on the wall with elaborate hands, ticking loudly.
“Good afternoon, sir!” Emeka said, jumping to his feet as Chief walked into the room.
“Ehen, Good afternoon, Emeka. How was church today?”
“Very good, sir and you?
“Uplifting” came the reply. “Enough of the pleasantries, let’s get straight to business” Chief said, easing himself into a chair.
“Chief, before you start” Emeka said eagerly “I was really surprised yesterday, to hear about your humble background. I would never have guessed it. But for you to have gotten this wealthy, you must admit that the fat salary you earned as an oil worker was the determining factor”.
“Young man”, Chief said slowly, “Let me enlighten you. It is not about the amount of money made but the amount kept”. The lessons you are about to learn are principles I gathered from careful study, keen observation and from my own experiences. Listen very carefully. Turn them around in your mind, ask questions. Most importantly though, I want you to put them to practice and be patient”
Chief leaned forward and looked at Emeka intently as if what he was about to reveal was the wisdom of the ages. The room had grown silent even the ticking of the clock seemed to have stopped.
“The first rule to wealth creation is this; A portion of your salary belongs to you alone and must be protected”
“But”, Emeka interrupted, “all of my salary belongs to me”.
Chief gave him a withering look and replied “All of it is yours, abi? So why is Mama Iyabo insisting so vehemently that part of it belongs to her? Hashiru nko? and the remaining long list of creditors? Don’t be a fool who only works for others and has nothing to show for all his labour”
“Chief, I have a lot to show. I don’t joke with my enjoyment. After all, what else am I working for?
“Right there, young man, is your problem. When I say ‘nothing to show’ I don’t mean toys that have no lasting value. I am talking about real assets”
“But I have assets” Emeka insisted. “I heard that when you go to the bank to collect loan, your car is considered an asset and mine was ‘tear rubber” when I bought it”.
“Emeka, at least I am happy to hear that for all your financial issues, you don’t yet have first hand experience of collecting bank loan. If you think Mama Iyabo is a thorn in your flesh, just trying defaulting on a bank loan. As for the car, one that is for your personal use is not an asset. I’ll tell you more about assets as we progress in our chats. For now, let us discuss the first principle I stated. Please repeat it, let me be sure you heard me.”
“Ehh…something about my salary belonging to me….”
“ A portion of your salary belongs to you alone and must be protected” Chief responded patiently.
Emeka repeated it correctly this time, still feeling confused but eagerly awaiting the explanation.
Chief continued. “It is important that you pay yourself first from your salary. Do not purchase anything until you have set aside a portion to be saved”
“How much should the portion be?” Emeka asked.
“That’s a very good question. Chief replied. “A lot of books on finances recommend 10% of your income as a minimum but I recommend a minimum of 20%. Chief turned to face him. ‘Are you familiar with the story of Joseph in the bible?”
Emeka rummaged the file cabinet of his brain, trying to remember what he learned in Sunday school as a child.
“Oh, that’s the story of the guy with the coat of many colours”
“Yes it is”. Chief responded. “But I want you to think of the time when he was in Egypt and was preparing the land for the seven years of famine. The instruction he gave was to collect 1/5th of all the produce in Egypt during the seven years of plenty. That 20% saved judiciously for seven years was enough to feed the entire country and surrounding nations, buy up all the real estate in Egypt and even purchased the people themselves. Not a bad return on investment.”
Chief continued in a serious voice “No one must have access to your savings. That is what I mean by ‘belongs to you alone’ It is not there to solve anyone else’s personal emergency. By all means, give out of the remaining 80%, spend out of the 80% but that 20%…Chief paused…“that 20% belongs to you alone and must be protected.”
“Chief, my full salary is barely enough to live on as it is. If I remove 20%, nothing remain” Emeka said showing his upturned, open palms for emphasis.
“Ah, that is the mystery of this rule. There will be no difference in your lifestyle. Mark my words. You will be no shorter of funds on 80% of your income than you were on 100%. Try it and see. Report here next weekend. We will build on this thought”
