Finance
SERIES: Proverbs 14:4 – Put Your Oxen To Work – Part 2
Welcome to the latest series on JosephSangl.com – “Proverbs 14:4 – Put Your Oxen To Work”
Proverbs 14:4 – Where there are no oxen, the manger is empty, but from the strength of an ox comes an abundant harvest.
Part 2 Identify your oxen.
In Part 1, we investigated the meaning of this verse and discovered the truth that “To accomplish more financially, you’ll need oxen to help you.” Now that this is known, it is important to identify the potential “oxen” that could work for you – in place of you – and produce additional income (abundant harvests).
A retirement investment account (such as a 401(k), 403(b), 457, TSP, or Roth or Traditional IRA) are oxen. Think about it. When your retirement investments go up in value over time, does it require much effort from you? Absolutely not. Like an ox, you will need to occasionally provide direction and guidance to the investment account, but it will do the heavy lifting for you and take your finances places you can not get to on your own.
Another form of oxen is business ownership. An owner of a McDonald’s franchise makes money even when they are at home asleep because the system is producing profits without their active and direct involvement every minute of the day.
My books, I Was Broke. Now I’m Not., What Everyone Should Know About Money Before They Enter The Real World, and Funded And Free are oxen. People purchase the book during all hours of the day and night. It helps them prosper with their finances, and it provides income so that our team can stay focused on developing new resources to help people and live out our call and passion.
Real estate such as rental houses, commercial properties, and land can increase in value regardless of your attention or effort.
It is time for you to acquire some oxen and put them to work for you!
TRUTH: Significant wealth is achieved when one identifies ways to produce income regardless of effort or time invested.
We’ll talk more about acquiring oxen in Part Three.
SERIES: Proverbs 14:4 – Put Your Oxen To Work – Part 1
Welcome to the latest series on JosephSangl.com – “Proverbs 14:4 – Put Your Oxen To Work”
Perhaps no verse has had more of an impact on my financial management than this verse. I believe that if you apply these principles, your finances will be forever changed.
Proverbs 14:4 – Where there are no oxen, the manger is empty, but from the strength of an ox comes an abundant harvest.
Part 1 Understand the verse.
I was reading this verse several years ago, and it literally changed my entire mindset about financial management. Perhaps it is because I grew up on a farm and connected with the talk about farm animals and equipment. Maybe it is because I am continually learning more about finances. Whatever the reason I like this verse, I promise you that it can completely change your finances!
Think about your ability to work. No matter how strong you are, how much energy you have, or how determined you may be, there is only so much work you can do. There is only one you. You can work more hours. You can work 20 hours per day, but you will reach a limit.
As a farmer, there is only so much you can do. Help is required to accomplish more. With oxen, so much more can be accomplished. They are STRONGER than you are. They have MORE ENDURANCE than you do. They even have SKILLS you don’t have (ever attempted to pull a barn by yourself?)
TRUTH: To accomplish more financially, you will need oxen to help you.
We’ll talk about that in Part Two.
I Was Broke. Now I’m Not. APP
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Ways To Become Wealthy – Part 4
Welcome to the latest series on the wildly popular JosephSangl.com – “Ways To Become Wealthy.” In this series, I will share the ways that I have seen people build wealth.
Part 4 Reduce spending and invest the difference
If you have read this blog for any time at all or have participated in one of our classes or group studies, then you know that compound interest is a powerful tool that anyone can use to build wealth.
Let’s say that you are currently unable to save money with your current budget. We know that saving and investing are absolutely critical and essential for building wealth, so a thorough review of the budget is conducted to identify potential ways to reduce spending.
Suppose the following items are identified:
- Cable TV – $100/month (could lower service and save $40/month)
- Home Telephone – $35/month (could eliminate and save $35/month)
- Cell Phone Service – $100/month (could reduce service and save $10/month)
Total savings: $85/month
Using our free “monthly investment calculator” tool, we see that $85/month for 30 years at 12-percent annual rate of return will be $297,072!
Question: Is it worth it to reduce cable, eliminate home phone, and reduce cell phone service in exchange for nearly $300,000? AB-SO-LUTE-LY!
ACTION QUESTION: What are some potential reductions you could make in your own budget?
Review your budget and identify potential reductions. Make the decision to re-allocate the savings to your investments!
Ways To Become Wealthy – Part 3
Welcome to the latest series on the wildly popular JosephSangl.com – “Ways To Become Wealthy.” In this series, I will share the ways that I have seen people build wealth.
Part 3 Own A Business
Owning a business may not be for everyone, but this is one of the key ways that an individual can build wealth. Think about this question for a minute – How much work can YOU physically do? 50 hours worth? 60? 80? 100? At the end of the day, you only have two legs, two arms, and 24 hours to work. Sure, you can increase your workload for a period of time, but eventually exhaustion will catch up with you.
A business system focuses the efforts of MORE people than just you! The collective effort of many people yields far more than you can do on your own. You can serve more people, reach further around the globe, and produce wealth!
I remember reading Proverbs 14:4 several years ago, and it captured me.
“Where there are no oxen, the manger is empty, but from the strength of an ox comes an abundant harvest.” – Prov 14:4 (NIV:1984)
Think about it. If you have no oxen, YOU have to do all of the work. However, if you do have oxen, the oxen will do the work for you! Think of a business as oxen. The oxen will do more work for you that you simply do not have the capacity or ability to do!
ACTION QUESTIONS: “What are your “oxen” that are producing wealth for you? Do you even have oxen? What can you do to get an ox?”