A lot of us young people are guilty of not knowing how to save.
We keep promising ourselves we’ll start saving soon, but immediately we get the money we start living la vidaloca, eating anyhow, buying expensive nonsense and then we get more broke than we started out,with only N500 in the bank which is even there because we can’t withdraw it.
You have to remember something, every kobo counts. Saving at least N10 everday for 365 would give you N3650 and you can see a movie with that money and have change.
You can’t keep saying you will, you will… you have to do it now!
If a lot of us had saved a little of our pocket money back in school most of us wouldn’t be so jobless right now.
No need crying over spilt milk though, it’s time to take action and start saving.
You have to be determined now. Determine the amount of money you’d be putting aside, either daily, weekly or monthly. Determine you won’t touch it for any reason. As far as you’re concerned, that money isn’t there.
To help yourself, especially if you have a job. Make a budget. Prioritize your needs and wants and set aside the change. Spend money on essentials, smart non-essentials before luxuries.
Create a new savings account and throw away your debit card. Or join an ESUSU or AKAWO. A trusted one.
Set a goal for your savings. A sensible goal. Maybe you want to buy a land of N1million. Save for it
Set a time frame for the said goal. Could be to buy that land by the end of the year with your saved N1million.
Learn how to keep record of all your expenses so you’ll know what you use your money on most. Don’t spend so much on restaurants, cook your own food. Don’t shop every weekend, minimize that kind of expenses and avoid buying expensive things on impulse.
Note to yourself:
Avoid debts like a plaque! If you don’t have the money, do not buy! This is the number 1 money finisher, you’ll think you have N10k but you’ll realize you’re literally just holding N7k for the woman you bought shoes from last 2 months. Meaning you have just N3k, I wonder how you’ll be able to save then.
I’m not saying you should starve or dress in rags because you’re saving. But you should be wise enough to know the necessities, you can always take out a little money and spoil yourself a little, not from your savings though. Don’t worry, you won’t regret setting aside that money when you build that house, or buy that phone or car or whatever you saved for, I assure you.
I am, @Lord__Nina
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