Personal Finance; Do I need to earn more to save more?

by - November 12, 2020


Personal finance is one aspect of life that you need to pay attention to. 

While you might not be able to determine what happens to the money in CBN, but you can definitely control what happens to the money you recieve credit alert for at the end of the month or when you offer a service.

To be able to be an highly successful individual financially, then you have to keep an eye on where your money is going.

During my days in the University, I didn't have any other source of income asides that which came from home, and because there was no other person I could call, no rich uncle somewhere or big sister somewhere, I knew I had to be prudent in my money game if I ever want not to go sleeping around with men for money.

The same principles helped me during my NYSC year, when I got my first job post NYSC as well as when I got a promotion too and my income was increased.

Even if you come from a family where you have people whom you can put a call to and recieve a credit alert, you must not completely rely on them because you can't do that for long before those involved get tired.

Most people are of the school of thought that if there is a raise in their income or if they recieve a gift, then they'll be able to save more.

But often times, contrary is the case.

Wants will always increase with an increase in money at hand, and except if you are a person who is extremely discipline, the increase in salary won't make you save more.

If you earn fifty thousand a month and can't save five thousand, the same reason why you can't save at least 10% of that money is the same reason why you won't be able to save five hundred thousand out of five million.

Money will never at any point be enough, and spending all when your paycheque comes is one sure way to poverty.

You do not need to earn more to save more.

Save from the seemingly little that you have in hand.

Don't wait for the time when you will have in excess as habits doesn't just change just at the snap of your fingers. Remember that old habits die hard.

It takes a whole lot of discipline.

So if your excuse for not putting aside money for the future is because it is not enough, then you need to start changing that mindset because it will never be enough except you save some and then multiply it as you go through life.

One reason why most think that their salary isn't so much to save from is because they're spending money on frivolities. By frivolities I mean things that are not very necessary.

I understand that you are the one working for the money and so you deserve to enjoy from the labor of your hands, while that is good, just make sure you aren't eating with all your ten fingers, and that you are not eating your tomorrow today.

Splurge a little, but keep your eyes on the goal.

See it this way, if you eat it all today, what will be there to eat tomorrow?

One truth that should guide you is that life is in phases, Life is all about seasons, and no matter how good or terrible a season is, it has only come and it will go.

The thing you can do to make sure that when that season goes, you do not have regrets is by making sure you have the needed wisdom to manage the available resources now.

Save with friends you can trust, put money together to invest too.

It is great when we are all moving forward together.

You don't need to earn a extra Naira to be able to save, just cut down on some non-essentials and you'll be amazed at the amount you will be able to put away into something profitable.

You might need to come with food from home instead of eating out at work.

You might need to cut down on your data consumption.

You know what your non-essentials are, do the right thing by cutting down on them, and thereby giving you more money to save.

Design a structure that works for you, but no matter what happens, make sure an amount goes from your income into your future.

As you go along in life, you'll also increase in value and as such, money will also flow towards you, when this happens, don't only increase your standard of living, also increase your savings/investment rate too.

I sincerely desire that you PROSPER and be in good health, even as your soul prospereth.

This is the will of the Lord for you, and you are not permitted to live any less that what he wants for you!

So much Light!

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