The clergyman said there are two major reasons why people should learn the culture of saving money. He said anyone who desire to be rich and wealthy must practice the law of increase and also, save money. “There are two basic reasons why we save money. If you really want to progress financially, you must practice the law of increase and then learn to save. There are only two reasons why you should save money. Number one, for emergencies. Number two, for investments. Practice savings. When God blesses you, take out your tithe and take out your savings. Many people recommended 20% of whatever you earned to save. You can save 20% of your income if you can,” Apostle Selman said.
He said the only way money increase is not through tithing or giving, but through investment and also, he revealed one of the major reasons why the rich keep getting richer. “By the way, you may want to write this down. The only way money multiplies is through investment. There is no other way in which money multiplies. What is investment? It is the acquisition of assets. Wealthy people never take on any liabilities and expenditures until they can show they have the asset that will pay for it. They spend their life acquiring assets that pay for their liabilities. So, when you meet a wealthy man, they don’t just spend anyhow, they spend from the profits from their various investment. If there is no investment that pays for their expenditures, they will be patient. That is the economy of the wealthy,” Apostle Selman said.
Apostle Selman said there has been misconception about tithing and giving. He said tithing and sowing seeds to Churches and men of God does not multiply or increase money. “The only way money grow is through investment. It is also important for you to understand the law of increase. You need to experience increase, not just the arrival of resources but the multiplication of the resources. In as much as you’re sowing seeds, paying tithe and praying to God to open doors of favor, you must learn to practice savings, so as to invest, in order to have abundance financial resources. That’s the only way to multiply money. Anytime you spend everything you have, know that your future is crying. Anytime you spend everything you have, you just punish your future,” he said.
He also gave a sound warning to everyone who is aspiring to be rich. “Practice frugality, the absence of wastage and justifiable expenditure. Be frugal especially when you are just rising. Though, there are people who can afford to be quite luxurious with their life, because they have paid the price to build system that can replenish. When you’re just starting your life, learn to be frugal. Can I be honest with you? You will know if you’re really making progress financially, when people underestimate your real worth. You should reduced yourself to many level below your true worth, so that you can grow. You should live below your true worth as a sacrifice, to truly be wealthy. That’s the philosophy of the wealthy. They’re successful people yet they live a modest life and they are frugal with their expenditures,” Apostle Selman said.
He further added that many people has a wrong perception about who a millionaire is. “I hope you know a millionaire is not someone who has one million or two million. A millionaire is someone who has the relationship that can maintain that level, intelligence that can maintain that level, systems and structures that can replenish that level and financial resources that is almost ten million, if not, you are not a millionaire,” Apostle Selman said.
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