FINANCIAL TIPS

We all crave for luxury and we work hard and smart just so we can enjoy the luxury we crave for. Most at times, we have people who have high taste for luxury but do not have the funds to spend. Others crave for it and use the little funds they have to sponsor their luxurious taste.
Do not spend the money you don’t have to impress people who don’t even notice you.

Nowadays, young people are still repeating some of the mistakes our parents did. We don’t save, we don’t invest, we rely on quotes and spend our money on anything even things which adds no value to our life. Its good to enjoy life, spend, but spending when you don’t have any means of earning is bad and even with a means of earning, it is still bad. You have to learn to monitor your finance. Track all your expenditures, visit it once in a while to know if the things you are spending on are worth it.

In our today’s society where everyone wants to belong, we turn to copy the lifestyle of people who have built a foundation, people who will never notice the things we do.
Below are some tips on how you can save your finance.

• KNOW YOUR BUDGET
One of the reasons most people can’t save and invest is because they don’t know nor work on a budget. They can’t track what they earn and also can’t track what they spend. They turn to spend more that they earn. Know your budget, know what you earn and what you spend. Monitor the said budget.

Creating a budget is a great way to start the year off on the right path – Anna Keisler. 

• STRIVE TO EARN EXTRA MONEY
Relying on one source of income can be sometimes stressful that’s why you must strive to have soluble streams of income. I’d you don’t know how to go about earning extra cash, follow the link to find out https://ndecham.org/2021/11/07/making-financial-progress-as-a-student/
Earning an extra income can help you through your day to day expenses.

• TREAT YOUR SAVINGS AS A BILL
You know how you feel when you haven’t payed some of your bills right? Feel that same way when you haven’t save something. Saving is important cause it might help you in time of emergency when no one else can come for you, you come through for yourself. Many of us fail to pay ourselves, we think paying ourselves is all about going out and spending on food and drinks forgetting there are essential things right ahead of us. You must be hungry for the best so that you can save for it.

• AVOID DEBTS
No matter the situation avoid debts. Sometimes situations will push us to go for loans but make sure you don’t find yourself in multiple streams of debts cause it will be hard for you to save up as you will be working all your money to pay off your debts.

• HAVE A PLAN ON YOUR FINANCES
Take every opportunity you have to plan on how you will manage your finances. Don’t follow the crowd and be fooled. You’ve got your life and maybe people looking up to you for their upkeep and so you should be cautious on how you go about spending. Have a plan, budget, don’t spend to impress the streets cause nobody cares.

Many other tips imply to how you can monitor your finance and stay out of unnecessary debts and spending. You have to know where you are coming from, know where you are going to. You have to know that you are your first backup and so you can’t go about spending like every other person out there. You can go about comparing with friends, worst of all, comparing with others because you never really know how people make their money even the ones you earn thesame.

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