NO MORE SORROW NO MORE BORROWING...

Money was never an issue in my life as I was brought up on cash. Our family did not borrow at all. They did not spend what they could not afford, they never had a mortgage, they saved up for any luxuries and holidays.

At the end of my parents life they owned two properties that they purchased in cash. One in London town and one on the Kent coast, their country retreat was called 'Rebels Rest'. Mum sold the one in London after Dad died, that helped her to live the life that she had become accustomed too in the country and abroad.

My partner and I purchased our first property for £10,000 and our joint annual salaries exceeded its cost. One cannot say that to most first time buyers today. In fact, most first time buyers cannot afford to purchase at the current rates. My view is that house prices are high due to people owning multiple properties.

We then sold our flat for double two years later, to invest in our own business that did not come to fruition. So we then bought a 3 bed Victorian house for £26,500,  it was then sold three years later for nearly double again. House prices were soaring.

The money from that house then purchased a six bedroomed, 4 storey house that required extensive renovation. One of my dreams was to renovate a Victorian property. Looking back, I can't imagine where I got my strength from, it certainly wasn't easy to do as a single mother, with a toddler alone.

Single mum, full-time job, in addition to a part-time business and charity work plus a lot of fun!

There was me, the baby and the house. Would I do it again? In hindsight, NO!

However, I never was one to take the easy route and I was always strong.

Anyway, the purpose of this post is to talk about borrowing.

When the times are good financially people don't have an issue with borrowing. However, I never ever borrowed more than my assets allowed. When the cash was flowing in from all directions due to my hard work, I then considered buying a second property to rent out. As an investment/pension, as I knew that cash was worth its value in its time that is relevant.

Well, the opportunity came up to start my own full-time business. So instead of investing in the second property, the money from my existing property asset was put into the business instead.

This gave the business an advantage because I was not paying high interest rates on a business loan. I did not have the bank on my back, as such there was no pressure to perform. I never leased anything, not offices, a car, photocopier machine, nothing. Nothing was borrowed. I was using my own cash for my own business. Even my company car was purchased in cash. In fact, every car I have ever purchased was bought cash.

The business was an immediate success,  I do feel that part of that success was being financially free to do what I did best. The money put into the business was mine and because it was real money that had been put in,  it worked in a really positive way.

There is a positive and negative side to money, if you earn more than you spend then you are in the positive. If you spend more than you earn then you are in the negative, very simple really. The same applies to nations and governments. However, it causes a problem for the people if they cannot work for money.  Then there is only money going out and none coming in. Hence, why we rely on the mercy of humanity for donations, because we gave all of our wealth and assets to do the good will of God.

I rather like this song, "No more sorrow, nothing borrowed" 

Say no to borrowing.....

I remember the days when I danced the night away just like the lady singing this song. 


Wonderful memories, abundant in every way. 






Cash beyond measure

ELIAKIM