INVESTMENT

ANALYSIS OF THE DEFINITION

  ii. Commitment:
Investment is about commitment. You have to bind yourself to the investment course, both physically and mentally.
If you have planned to save ghc20 every month for investment, then stay faithful to it.
You don't plan A, and do B. NO!  You have to stay focused on the investment path you have taken. Good days will come and go. Bad times will come and go. But you stay faithful to your investment. Not that in bad times, then you go and finish that investment money.  NO!.  Stay faithful

i. Resources:
Prudent investment is about sacrificing your resources now, so you will gain later. Simply, if you have GhC1000 now,  and you don't spent that money on food or credit cards, but you keep that GhC1000 somewhere with the expectations that where you have kept the money, will pay you interest or provide you profit.

These resources are;
   a. Money: You have to spend your money in areas that will promise you profits
   b. Time:  You need to have enough time for your investment. Time to follow and examine what's happening to your investment. Do not just put your money in that business and forget about. Spend some time to know what is happening
  c. Effort: Both your mental and physical effort is needed to ensure that your dream investment grows well.
Acquire knowledge about your investment. Be smart about your investment
  d. Capital: Such as your laptop or phone or any other resource you will use as you work on the investment