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Money Management

Orisa Lifestyle makes money work for the Good Condition. Far from being considered simply the root of all evil or what makes the world go 'round, the Yoruba tradtitionally see money as a multifaceted, LIVING entity. It has its virtues and vices and must be respected as an integral element of our earthly sojourn. Lest we forget "Earth is a marketplace. Heaven is our home." 
  • With your family or spiritual community, develop a budget for your everyday activities or a specific project. Include your expenses, such as equipment, supplies, and the cost of trips and other activities. Also include your income, or sources of money, such as work, proceeds from special activities, and money earned through special projects. Then plan  for a fun activity. Determine the cost, and figure out how long it will take to earn the money. 
  • Find out about the different ways to invest and save money. Learn about
      three of the following: 
    •    Mutual funds
    •    Money market accounts
    •   Certificates of deposit
    •    Saving accounts
    •    U.S. savings bonds Stocks
    •    Corporate bonds
  • With a group of friends, form an "investment club." Ask for advice from a financial advisor or someone who is in a rotating savings account. Choose two different stocks or mutual funds. With "pretend" amounts of money, invest equal amounts of money in each. Follow your investments for three months, and then compare how they did.
  • Sometimes people prefer  to use a credit card instead of cash when they buy something. Sometimes, people lease a car instead of buying one. Talk to a banker, an accountant, a financial planner, or another knowledgeable person about how credit works for individuals, businesses and countries. 
  • Learn more about comparison shopping by spending an afternoon at a nearby mall, shopping center or outlet center. Be sure to bring a calculator and a notebook. Try to compare the same brand or similar items in various stores. Look for sales, coupon items, discontinued merchandise, and seconds (items with minor flaws). Were there big differences in prices at different stores?

  • How much money do you think it takes for a family to live today? With the help of your family and friends, write down all the types of expenses you can think of, including rent or mortgage payments, heat, taxes, electricity, childcare, private school, ballet lessons, soccer fees, martial arts classes, cable television, insurance, phone, water, car payments, food, clothes, entertainment, and gifts. How much would you need to earn to pay these bills?
  • Invest in your cultural values. Visit the Agbole Foundation of America (AFA) page to get an idea about ways to fund Orisa Lifestyle projects. What AFA projects are relevant to your community? What other kinds of projects would you like to invest in locally?