If you want to be really successful in life then saving money or managing your resources must be one of your qualities. Money is a scarce commodity and you must have heard this popular saying “Money doesn’t grow on trees”. Well if you haven’t heard it, you are probably a 5 year old that can read. There’s no denying, Money is really hard to save. Especially with the introduction of online purchase now, you can sit within the comfort of your home and have goods brought to you with just a click of a button. We both know money is easier spent than made, so i’ll be listing steps on how to manage your money effectively.

#1:BUDGET
This is the probably the first and most practical way of monitoring and managing your money. Having a good budget helps you have a constant knowledge of how much you have, where your money goes and it can help you reach your financial goals. It also helps you know the difference between NEEDS and WANTS. Am probably starting to sound like an economist but there really is a difference. Just because you feel you need something doesn’t mean you actually do. For instance if you have the urge to buy a new shoe, you should ask yourself, am i buying this shoe because i really need it? or is it because that’s what’s in vogue? if i don’t have the shoe, do i still have other things to wear and will still serve the same purpose? Reviewing yourself when making a budget will help you make the right decisions.

#2
BE DECISIVE
There’s no point in making a budget if you’re not going to stick to it, Let your YES be YES and your NO be NO. Don’t confuse being decisive with being stingy. Some people call me stingy because when they ask me to get something for them and i say NO, they say am stingy. No it’s called being decisive. If my budget for miscellaneous cannot cover what you’re asking for, you don’t espect me to say Yes and then be at a detriment do you? So be decisive

#3
PLAN

Last and not the least you need to plan on how to use your money . This is where you apply the budget you already laid down. For example you might decide to buy a car, Don’t say Yes! i have the ability to buy it, Consider the maintenance. How much does it cost to fuel a car? how much does it cost to have service it monthly or if you decide to get a large apartment, ask yourself. How much would it cost me to put furniture in the house, what if things get spoilt, can i replace them without problems?. These are really reasonable questions to ask one’s self when making plans because they will have you make future considerations when spending.

If you can apply what you just the content of this article, you would definitely manage your money effectively.

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