It’s a New Year already people and believe it or not, the year is ticking away very fast.
In 2016, one of the issues that affected many Nigerians. Well, some of us anyway was the recession wahala. Some never experienced it because to them, recession remained a word.
Okay, so that’s another level of financial stability right. The argument many of us raise would be that our level of income vary and that’s so true but principles never lie. We would all love to thrive financially in 2017 and not make many of the mistakes we made in the previous years.
I’d go through a list of things that I believe can help us sustain a financially buoyant year.
1. Always work with a budget.
I know this is very hard but it’s a principle that works every time. Depending on what works for you, work with a daily, weekly, monthly or quarterly budget and stick to it. No doubt, there’d be many things that would come one’s way and can tend to make one derail from the budget but please stick to your budget and yellow it through. You would discover how much you would save from working strictly with your budget.
Well, we’ve all heard this over and over again but we need to get to a level of application for it to work. Have a particular percentage of your income that you save. If possible, open an account and don’t apply for a debit card just to keep you a bit strict. You can also add to your goals how much you want to save per month which in turn affects how much you save over the year. Please save.
Whoop! I learnt this principle recently and also working hard towards implementing it. Not only do you save, have a percentage of your income that goes into investments.
Investments vary depending on your age, career and level in life. From investing in real estate, a growing business to investing in your career, your business e.t.c. The principle is to give money towards something that has the ability to bring more money. It’s similar to savings but investments on the long run can in turn become a source of income.
This is not a by force rule. I’m a person of faith and believe strictly in work but I cannot deny how much more I have received from God by obeying his principle of giving. Whenever God directs me to give, I do. That things are getting harder is no reason for me to get stingy with money. So, take out time to give but I’d advise you give with wisdom please. It’s easy to give out of context and remain broke.
5. Cut spending.
Now, this is where the real discipline comes into play. There are some things that would need to be trimmed away from our finances. Even Jesus said that any branch that doesn’t bear fruits should be cut off. Some things are just unnecessary and they take so much of our finances if we pay attention well. Instead of taking a bike that costs #100, can you wake up earlier so you can catch up with the staff bus or instead of buying food, you could invest more time in cooking at home. Instead of buying drinks everyday, maybe all you need is to buy nutri C and enjoy your life. Lol ?
I think I should add one more
6. Increase your value.
Money in itself is not cash. It is perceived value. Therefore, people pay you based on the value they perceive you have. I always wonder by people who don’t have any source of income apart from Mum and Dad always complained that they were broke. So, instead of petting them, I always advised they either trim their expenses well, or get something to do that brings in money. If you’re working already and your pay is quite little, you might need to increase your knowledge so you can charge more for your services.
I wish you a financially buoyant 2017.