It is a general saying that women are better financial managers; maybe it’s because they are saddled with the role of home keeping and maintenance. As a woman, it is important that you know how to manage your finances well; this would not only give you financial security, it would make the heart of your hubby trust safely in you when it comes to financial matters.


If you make money your love and you pursue affluence to the exclusion of or at the expense of other values, you have lost, not won. The greatest satisfaction of life comes to those who make a habit of doing the best with what they have.


If you are spending more than you are earning, you may be committing slow financial suicide. Some people say “if I have more money, I would have a better plan.” This is not true. On the contrary, if you have a better plan you would have more money. It’s not the amount that counts; it’s the plan that counts. It’s not how much you allocate but how you allocate it that shows your financial savvy.


Tips on Allocating Money for Wealth Creation

Pay Your Taxes

All consumers of goods and services, no matter how young, must pay taxes. Because we have all agreed to live together, we call ourselves a society. And for a society to function properly there are some things we cannot do on our own.


Be a happy taxpayer.


The 70/30 Rule

After you have paid your taxes, you must learn to live on 70% of your after-tax income. This you can spend on necessities and luxuries.

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The remaining 30% should be allocated thus:



If you are a Christian, at least 10% of your income must go to God in tithes. It is a covenant responsibility and it brings on you the blessing that goes with tithing; God pours His blessing on you such that you do not have room enough to contain it. It is also a way of getting God involved in your finances and business.


Capital Investment

With your next 10% of your after-tax income you are going to create wealth. The key is to engage in commerce, even if it’s on a part-time basis.


Capital belongs in the hands of the people. Genius resides with the populace. It is the individual, not the state, who will come up with innovations for goods and services.


The pursuit of profit is a powerful incentive to create a life of abundance for everyone.


Use this 10% to purchase your equipment, products, or equity – and get started. There is no telling what genius lies sleeping inside you waiting to be awakened by the spark of opportunity.


Why not work full time on your job and work part time on your enterprise? When you have a wealth plan, you will be so motivated that you will have a hard time going to bed at night.



That last 10% should be allotted to savings. This will offer you peace of mind by preparing you for the “winters” of life.


Here is a definition of “rich” and “poor.” Poor people spend their money and save what is left. Rich people save their money and spend what is left.

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Apply the ant principle in order to gain financial independence. Ants never quit. If it is heading somewhere and you put an obstacle in its way, it will look for a way – over, under, around.


Ants use all summer to prepare for winter. They gather all they can during summer to prepare for winter. There is a fable about the grasshopper who laughed at the ant for storing grain all summer, while he kept leaping about the high grass without a care about the future. When the harsh winter came he starved to death while the ant had plenty. Prepare ahead for your financial future by good investments.


Rich or poor, the difference is not so much in how much you make as it is in how you use what you make.


Keeping Score

It’s important that you know the record of your present financial game plan. Start keeping good books of your income and expenses.


Have you ever heard the expression, “I don’t know where it all goes?” Never be the one to say it. Make a point of knowing exactly where it all goes and where it all comes from.


Just making good money isn’t enough. A person can make ten thousand dollars a month and still go broke. It is not wise for your expenses to exceed your income. Keep your budget within your income.


Life is reluctant to hand over fortune and responsibility to someone who messes up his or her pay check. But when you assume responsibility for keeping score of your financial life, then you have taken a major step to be trusted with a life of abundance.

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This quote by – Philip E. Humbert is a good way to end this article:Do yourself a favor and master the art of money. Treat it as an honored guest in your life, one who will quickly flee if you do not treat her well, but one who will stay and enrich your life beyond measure if you treat her with care and respect.


An Adaptation of Mrs Ibukun Awosika’s Materials

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