• Friday, May 24, 2024
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BusinessDay

How value system affects income, wealth creation

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Value system cannot be separated from personal finance as it affects one’s income, expenditure and savings.

Values are a set of beliefs that makes up an individual in his or her totality, and so affects every area of one’s life be it financial, social, political or marital.

This, however, varies from person to person and can either be good or bad values and so has a role to play in one’s finances.

In today’s world where good values are regarded as obsolete and not “smart”, people seem not to discern between right or wrong and getting rich fast no matter the means is highly celebrated, what roles have values to play?

Fela Durotoye, a prolific business strategist and chief executive officer of Gemstone Group and Visible Impact, said recently at the Jos Economic Empowerment Summit (JEES) with the theme “Fast Track,” that values such as integrity, delayed gratification and contentment “will determine your value”.

Addressing participants at the summit, he said integrity gives a brand value as he emphasised contentment, stating: “don’t value your life by what you are carrying but by what is carrying you.”

Delayed gratification, he said, is a value that helps one keep a goal in perspective not minding the sacrifice that one has to make presently, adding that “vision is a picture of a desirable destination in the future that is beneficial to the people and they are willing to come on board and stay on with it no matter how long it is. God shows you vision as trees but gives you vision as seed.”

According to Durotoye, other values that will increase your income are “making positive impact on everyone you meet and everywhere you go, being a solution provider, becoming a role model worthy of emulation, being the best in all you do particularly in what you are good at, doing the right thing at all times no matter who does the wrong and valuing time.

“Caring and showing respect through your words and actions, consciously building your legacy, living a life of integrity and honour and making your family, nation and God proud,” will increase your value in income especially in the present situation  where people feel that “‘wrong’ is ‘alright’ and have then moved to believing that what is wrong is right and then to thinking that what is right is wrong.”