Money Matters Monday – The A-Z of Financial Education for Teachers: Letter A

A – Acquire assetsAssets are anything that puts money into your pocket.

 

Back then when I was in secondary school, SSS 1 precisely, I had a love for playing Play Station. I fell in love with this video game through my friend, Ahmed, who today is also doing pretty well in life. I remember the first time I went with him to the game house around Makoko area of Iwaya. We were both coming from my then school, Faz-lo-mar High School, Iwaya, Yaba. As we entered the wooded shop, I saw two sets of Television well-positioned from the reach of people. I saw two pads attached to a game.

 

My friend picked up a pad and started playing against another player. I still remember that he chose his favorite football club, Real Madrid FC. To be candid, Ahmed is the one who initiated me to know players and their football clubs. This was 2002-2003.

 

Back to the Play station game, I saw how my friend was mesmerizing with this cartooned players. He won his opponent that day. I loved the play, the sounds, and the movements. I took a pad too and tried it. Ahmed did well in teaching me the functions of each of the buttons on the pad. The X, the O, the Triangle, etc. Even though I didn’t understand much about it that day, I promised myself I will be a champion in this game.

 

Weeks later I had known how to play this game well but not like my friend yet. I would spend my transport fare on playing this game and then trek from Oyingbo to Orile or some other time I looked for a good Samaritan to lift me. If you are familiar with this area you will know that it is not a short distance. But what does a small boy like me know? The following day, I will still do. Poor me.

 

That was how I was burning my money on another person’s asset.

 

Anything that puts money into your pocket is an asset. The traditional asset we know is still great. However, in this age and time, you need not own a shop or buy wares to have an asset. Your phone could be an asset.

 

There is a lady on my list whose example I have mentioned before. She is a teacher. She has read my book, The Power of Attitude in Teaching, and got value in it. She learned a lot from it. She became an evangelist of the book to her friends online and offline. With each purchase of TPOAIT from her, she gets a commission. Her phone and her brain, in this case, are assets because they are both putting money in her pockets.

 

Is your phone putting money in your pocket or taking money from your pocket? Is your phone an asset or a liability.

 

When I wanted to buy the phone I am using it now last year May. I couldn’t afford to buy it cash because of the price and my financial state. I sought for a friend who is a phone dealer. He deals with both cash and credit sales. I told him the kind of phone I wanted and told him I didn’t have cash. He arranged for credit and the number of months I will use to pay it. Before I bought the phone, I knew the things I was going to do with it that will fetch me money. I wanted to record good videos with my phone. I wanted to multitask with my phone with having it hung. I wanted to use a phone that will last me three days without charging it, hence I went for it. The phone did deliver the money that I used to pay up the money. My phone is an asset because it puts money in my pocket.

 

Is your phone putting money in your pocket or taking money from your pocket? Is your phone an asset or a liability.

 

As a teacher, you must always be thinking about how you can earn from your phone no matter how small. You must be thinking about acquiring things that will put money in your pocket and not things that will take money from it. The more assets you have, the more money you have in your bank account. The less you have, the less money in your bank account.

 

The other day my Dell Laptop got spoilt. I asked a friend to lend me his while I get it fixed. He didn’t. I couldn’t wait for another day before I ordered for another PC. Why? Because it brings me money. It is an asset. Since when I have bought this one, it has fetched me more than the money I used to buy it.

What do you have that puts money in your pocket?

Acquire assetsAssets are anything that puts money into your pocket.

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