I just discovered that no matter how hard i try to save in a month other things of necessities must come up,i am not even talking of my wife to be who is not even demanding.I have read books on finance.i have applied them and it works but within the past three months have not being able to maintain this useful principles i derived from books.

Can someone help me out on what to do and also share with me any story of yours that can help?

Twenty5: I just discovered that no matter how hard i try to save in a month other things of necessities must come up,i am not even talking of my wife to be who is not even demanding.I have read books on finance.i have applied them and it works but within the past three months have not being able to maintain this useful principles i derived from books.

Can someone help me out on what to do and also share with me any story of yours that can help?

The key word here is discipline. Without it, even if u earn a million naira on a monthly basis, u still won't be able to save. I have a friend who worked in one of the banks (well before Sanusi Lamido became the CBN governor), then the salary and allowances was so attracting. He worked for 4 years before buying his first car. I remember some colleagues then used to call him names like 'stingy fellow' and the like. He will always ask for a lift from colleagues after work. He eventually bought his car in the fourth year with no bank loan. He single handed ly bought the car from the investments he had. He had a lot of shares then and other businesses that were doing well and it was from the dividends then that he bought a car worth 1.5 million naira way back in 2006. The lesson here is that he remained focused and disciplined himself to save and avoid going into debt like his colleagues who were always assessing car loans and the like.

@op, I thot i was d only one wtout d discipline to save. I wonder if pple can gv us further advice abt it. Pls OP, what bks did u read? I read RICHEST MAN IN BABYLON.

dearestsewa: @op, I thot i was d only one wtout d discipline to save. I wonder if pple can gv us further advice abt it. Pls OP, what bks did u read? I read RICHEST MAN IN BABYLON.

my friend,it was thesame that i read o,bt jus like what you guys said that discipline is the key word,thanks i appreciate

uboma:

The key word here is discipline. Without it, even if u earn a million naira on a monthly basis, u still won't be able to save. I have a friend who worked in one of the banks (well before Sanusi Lamido became the CBN governor), then the salary and allowances was so attracting. He worked for 4 years before buying his first car. I remember some colleagues then used to call him names like 'stingy fellow' and the like. He will always ask for a lift from colleagues after work. He eventually bought his car in the fourth year with no bank loan. He single handed ly bought the car from the investments he had. He had a lot of shares then and other businesses that were doing well and it was from the dividends then that he bought a car worth 1.5 million naira way back in 2006. The lesson here is that he remained focused and disciplined himself to save and avoid going into debt like his colleagues who were always assessing car loans and the like.

thank ou for this piece,i love it

Twenty5: I just discovered that no matter how hard i try to save in a month other things of necessities must come up,i am not even talking of my wife to be who is not even demanding.I have read books on finance.i have applied them and it works but within the past three months have not being able to maintain this useful principles i derived from books.

Can someone help me out on what to do and also share with me any story of yours that can help?

read more and pass more exams!
it's obvious your lifestyle and your remuneration are not in sync. i don't believe in suffering myself in order to live a good life. if it's not enough, have it at the back of your mind you can make more money - follow that pathway and the mouthwatering job shall be yours!

uboma nailed it,i dont get like big money,but i make sure i save,no matter how it pinches,and even though i forfeit some wants.disciplines helps alot.

coogar:

read more and pass more exams!
it's obvious your lifestyle and your remuneration are not in sync. i don't believe in suffering myself in order to live a good life. if it's not enough, have it at the back of your mind you can make more money - follow that pathway and the mouthwatering job shall be yours!

And if that mouthwatering job doesnt come, you wallow in abject poverty? Nonsense advise. Insanity.

No amount of money is ever enough if you are not prepared to sew your coat according to your cloth

The fact is dat, if u cant save money wen u dnt have, there is 80% probability dat u'll nt save wen u hav more

re-shape ur life and the way u spend.minimize ur spending,then plan ahead.try give ur wife some money to keep for you.

Well, first reduce the no of girlfriends you have.

PAY YOUR TITHES!

contact me for tips on that

Compulsive Spending Addiction. Seek professional help if you have access to one. If you don't, then you might want to hand over your finances to your wife.

maybe your expenses is more than your income ( omi po ju oka lo ) hotwater is more than yamflower

If you can't save, don't kill yourself. Some people are just wired not to have a saving account. But you can invest the money directly. Depending on what you are saving for, you can start paying for it every month as your salary comes.
House: Get a trusted agent and deposit an agreed amount every month for the land. Then start buying blocks and other things in bits every month.
Marriage: Make your engagement official. Start paying for items one after the other. My good friend bought his wedding items over two yrs, one at a time. Involve you fiancee and get her committed to buying her stuffs whenever you give her money.
Car: Locate a trusted car dealer and agree on an amount to deposit every month.

In that way you don't go back to get the money for your 'immediate' needs.
But hope of saving is not lost, as you can try the style I used when I started saving.
Open a separate saving account(different from you salary account) in a bank that is not you regular bank and doesn't have a branch near you. Don't collect any ATM card for that particular account. Commit yourself to depositing a fix % of your salary into this account the very day you get your salary alert. It helps sometimes!!

Good luck!!

Hmm,sorry oo,maybe you need deliverance cos somtimes it a spiritual matter.

U need a mission to save.You just don't save for saving sake. Remember growing up and the piggy bank and the irresistible urge to want open the damn thing to remove money for sweets. But if ur pops told you that to get you a bicycle, save 50 naira, nothing will make u remove money. Have a plan for the money you want to save then other necessities will not bulge ur resolve.

I can help you save 1/3 of your money. Just send to me every month end for safe-keeping *runs away*

I suggest you join a sort of cooperative society, where your money is deducted from the source, that way you won't have a choice than to "manage" the remaining you have at your disposal. That way you can now withdraw your savings at the end of a particular period and use it for something tangible

Twenty5: I just discovered that no matter how hard i try to save in a month other things of necessities must come up,i am not even talking of my wife to be who is not even demanding.I have read books on finance.i have applied them and it works but within the past three months have not being able to maintain this useful principles i derived from books.

Can someone help me out on what to do and also share with me any story of yours that can help?

Reading finance books with applying it is just waste of time, like @uboma said, financial discipline is required. I have this conversation with my co-workers ALL THE TIME, ALWAYS separate your "WANTS" from your "NEEDS". Your needs are very important and should be taken care of, any other extras are just wants and should be discretionary. Also, if that doesn't work, employ the "MANDATORY MEASURE", have your employer, bank or whatever institution remove money as soon as it hits your account. This will force you to live within your means knowing that you savings somewhere.

To reiterate

A. Separate your wants from needs. Every need (housing, and feeding etc) is mandatory, meanwhile wants such as added luxury is just what it is. This has worked well for me - why spend $8 daily to buy lunch at Chipotle for 5days a week when I can use 1/3rd of same money to prepare my own lunch.

B. Mandatory measure. If you cannot save, let someone enforce you to do so. Go to your employer, bank, setup a savings account, if you get paid on the 1st of every month, tell them to setup an automatic withdrawal on the 2nd based on certain parameters, and don't forget to tell them that they should institute a penalty upon withdrawal.

I talk about this because it has helped me save a whole lot.

i spend to the point of bankruptcy. its a bad habit.

Personal savings could be quite difficult and challenging unless forced or helped to do so. How do I mean? If for instance you have a govt job, organised private job or any job at that that has a good personnel and payroll system then 'savings' is just a matter of you joining a cooperative and instructing your organisation to deduct so so amount from your gross pay and credit the deducted amount to your cooperative account. The net pay would be your take home. By doing this you gradually build up on your saving habit. I've seen workers bought cars, plots of land, paid travelling expenses et al from such savings.

Goodluck

Pennywise:
And if that mouthwatering job doesnt come, you wallow in abject poverty? Nonsense advise.

you are a miserable cünt....
so degrading himself like a pauper is his only means of saving money? are you a slave of money or money is your slave?

No amount of money is ever enough if you are not prepared to sew your coat according to your cloth

the op is not careless with his money
read his comment very well - he said no matter how hard he tried he finds it difficult to save at the end of the month. indiscipline is not his problem, the income is the problem.

Discipline is the key. If you really wanna start saving, you have to deprive yourself of certain things

coogar:

you are a miserable cünt....
so degrading himself like a pauper is his only means of saving money? are you a slave of money or money is your slave?



the op is not careless with his money
read his comment very well - he said no matter how hard he tried he finds it difficult to save at the end of the month. indiscipline is not his problem, the income is the problem.

Gerrhout. Go look for your playmate

You need self descipline nd focus too