YOU WILL BECOME

For some of us cash is “easy come, easy go” most times we can hardly account for what the money was spent on, this means being broke comes easy too. Money, when utilized wisely has the tendency of multiplying and giving value to the owner. simply put, when you take care of your money, your money will take care of you too; let’s check out ways we can keep the cash flowing.

·         Budget:  may sound like a cliche but it’s true. A budget is a guide on how to spend your money.  We most times leave this to the government to worry about or utilize it when we are going the market but it is effective in our spending habit too, with a budget you can list your wants in order of priority taking it one at a time, you must not buy everything on the list at once. This will save you from impulse buying and you will have some change (money) left. A budget also ensures that you make proper use of your money and saves you from debt (except of course you choose to be in debt).

·         Spend Less Than You Earn: Don’t subscribe to the “tomorrow will take care of itself” philosophy, if you have, well it’s not too late to unsubscribe. Yes tomorrow will take care of itself why don’t you take care of yourself tomorrow?  Spend your money on things that will appreciate and make more for you tomorrow, spending more than you have incurs debts and debts will deprive you of getting a lot of “wants” but spending less leaves more cash for you. Don’t go emptying your account to acquire a phone and become completely broke at the end of the day, buy that phone when you have enough in your account, a new model will come any way so why are you stressing yourself.

·         Increase Cash Flow: money is referred to as “currency” because it is transient and it goes from person to person but you have to put in effort to direct the current your way. The only way to save your money is by multiplying it .Multiple streams of income equals more money in your possession and it is a lot easier to save with frequent cash flow; you can’t save what you don’t have. Don’t depend on your salary or stipends alone have a side job to go with.imagine earning 20,000 from your first job and maybe 10,000 from your second.

·         Save: If you cannot save when you have a ₦1,000 how will you save when you have ₦100,000. Don’t spend everything you have, cultivate the habit of saving 10 from every 100 you get.  even if it means saving a Naira from  any money you get, it will be worth more in the long run. take a look at this chart.

       if you don't have as much to save you can start little,try saving for a year.
         PS. let me know what you think and if you have more options to manage finances, let's talk about it in the comment section.