TOPIC: FINANCIAL MANAGEMENT
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished”
-Proverbs 22:3-
Most people believe the key to successful living is to earn more; but there are those who earn more than they need and still end up indebted. So, it is not how much you earn that makes you wealthy, but how well you can use what you earn to meet your needs.
Many singles feel they have only themselves to cater for and as such do not think of the future. They tend to spend more on food, clothes, and entertainment, more than they invest. Most times, they misplace their liabilities for assets, which can lead them to a life of borrowing. Therefore, to be financially independent and responsible, I propose these trusted tips:
Learn to make a budget: It is not all monies received that should be spent, neither is it every want that should be met. A budget helps you plan your spending even before you receive your monthly profits. With a budget, you know your priorities and can differentiate your wants from your needs.
Be accountable: This means you should know what and why you spend. It is about making yourself solely accountable for your spending. This will enable you cut your costs and spend only according to your financial size, at the moment. It prevents you from then making any unnecessary financial demands on yourself.
Prioritize your spending: It is not all “aso ebi” you should buy. You are not mandated to attend all functions. Your not following every fashion trend does not make you less of who you are; neither will it add to your person. So, you much be conscious of this. You should learn to write down your needs and then map out a scale of preference as well as a time frame within which you need those items. This will enable you plan well.
Remain Blessed!