Whatever your lifestyle, it’s important to understand how to get the most from your money so you can live comfortably and within your means and comfort.

NEED TO CREATE VALUE READ AND APPLY THE FOLLOWING TIPS


1. Determine Essential Expenses. :

The first step in creating financial value is to determine your non-negotiable or fixed expenses such as rent, car payments and utilities. You also can choose to put things like gas and groceries in this category. Add up these expenses, and subtract the total from your monthly income. Those expenses that you can't do without are the ESSENTIALS.

2 Keep Track.

Download personal finance and budgeting tools online and most are free and mobile. These applications allow you to track where your money is going. You can make smart financial decisions such as whether or not to join that after work happy hour. You can always shift your priorities, saving some of those wants and needs for next month.

3 Keep an Emergency Fund.

I learnt this the hard way...DON'T LET THAT HAPPEN TO YOU
You never know when your car might break down, when you’ll need to take time off from work for family issues or your AC will begin to leak or when your boss will decide not to pay your salary as at when due or the cash flow from your business slows a bit.

It’s important to be prepared for life’s unexpected turns by having an emergency fund to tap. If you have three to six months of expenses saved up, you can avoid taking on debt, and adding value to your money. If you don't have a fund, start saving now. When something goes wrong, and it will, you won’t have to borrow or take out a loan to cover the cost.

4 Dine In. No matter how you feel about food, one thing is for sure – you have to eat. There are plenty of ways to think smarter about what you spend on food. Eating out often costs more than cooking at home, so even if you hate cooking, it pays – literally – to do some reading up on easy, fast recipes. You'll avoid the temptation of calling for takeout seven days a week. Consider making large batches of your favorite recipes over the weekend. Then, bring smaller lunch portions to work the next week. You will be amazed at how much you save from having lunch at the canteen at work. You may not cook or bring lunch from home all the time; but 4 days a week would add noticeable value to your money after a month. Remember don't spend the 'saved' money, actually save it by adding that to your savings.

It's beautiful and romantic to dine out with your Significant Other once in a while; believe me...cooking together promotes communication and intimacy by a good 70%... Once in a while give your loved one that DINE OUT Treat... then creat fun time cooking together or learning how to cook.....together.

5 Evaluate your housing costs. If you're paying for apartments that are beyond your means, it might be worth finding a smaller pad to reduce your living expenses. Carefully furnishing and maintaining your home also can cut expenses. Opt for refurbished furniture and appliances instead of new items. Take the time to clean and refurbish them yourself. Extend that do-it-yourself attitude toward maintenance, too. You can solve many household problems without hiring an expensive contractor.

6 Be Reasonable. Don’t plan a budget you will never be able to keep. Just like with a diet or an exercise program, it’s important to be realistic. If you’ve never been able to stick to a savings plan, or are a compulsive spender, don’t expect this to change overnight. Instead, start by setting small goals so you can build the confidence to tackle bigger changes down the road. It’s a marathon, not a sprint!

Above all, know that budgeting doesn’t have to be about deprivation. If you follow these tips, you can easily create a livable budget that will help you achieve financial peace of mind.


HERE@S TO BUILDING LIFE WITH PEACE>>>>

REGARDS.

If you find this useful, then let me know THAT ONE ISSUE you DESPERATELY need solutions for.....

The write up is cool.. What a world that we live in.. Those who have caps do not have heads and those who have heads do not have caps..In other words, those who have the money do not need write up and those who need the write up do not have the money..

Ok

You'll be surprised how much money you spend if you don't do #4

Don't live above Ūя̲̅ means just to impress someone that's not noticing Ūя̲̅ existence !
God bless the OP!

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Nice post good tips let me see if I can try this

6 Ways To transfer money from government account to my account.

Understood

Nice one,keep it up!

this does not apply to Nigeria ... it will only work in a civilised country where their is constant electricity and basic amenities of life ....Nairaland is becoming a dump yard for useless , copy and paste articles . Please fix it sir

Nice

Where those bankers that always live beyond their means let them read.

Informative

...

7. Don't spend on ladies
#runs out of thread before they arrive

please its high time we tell our naija ladies that we are tired of taking them out to eat. They should be contented with us and start eating eba with okro soup when they visit us.

Also, they should know that we want to reduce the rate we buy gift for them. Every guy should choose one festive season in a year to but gift for his lady.

As for me i have chosen easter day, after that no more gift even on your birthday.

Ladies we want to save our money.

Africanfoods:
Whatever your lifestyle, it’s important to understand how to get the most from your money so you can live comfortably and within your means and comfort.
...

Carefully furnishing and maintaining your home also can cut expenses. Opt for refurbished furniture and appliances instead of new items. Take the time to clean and refurbish them yourself

...

I think i'll rather learn how to generate more and more sources of income than to go this frugal. No matter how much you apply those listed points, if you don't grow income, you'll soon 'die'.

Pls Don't get me wrong, am a prudent man, but i focus more on income growth than 'how to spend'

all boil down to discipline

Ways to make cool cash should come 1st before this one




Nice thread anyways

Those are essential advices, and are extremely important tactics that needs to be applied by everyone...Nice topic @Op.

thank you

talk2riel: Where those bankers that always live beyond their means let them read.

They've not closed from work.

YoursGEJ: You'll be surprised how much money you spend if you don't do #4

Hmmm...eating out is really one of those money "drinkers"

As an economist, do i need all these? Ofcourse no. Maximization of utility from my limited resources is already part and parcel of me. Cardinal assumption also states "Maginal utility of money is constant"...

OK,

Make i go nwanyi akegbe place first...if ah cum bak ah go comment

7. For the men, DO NOT DOUBLE DATE that way you can save more money

mindworx:

I think i'll rather learn how to generate more and more sources of income than to go this frugal. No matter how much you apply those listed points, if you don't grow income, you'll soon 'die'.

Pls Don't get me wrong, am a prudent man, but i focus more on income growth than 'how to spend'

Thank you, this is precisely what I had in mind, one can be frugal but to an extent, instead one should think of having multiple streams of income to raise the living standard.

Making more money should come before these. Nice ways to save the already made money though

In this life, if you keep saving money and not using the saved money to bring in more money, thus making your money work for you, you would end up using up the money when a big problem arises and then, you would be back to scratch.

In a nutshell...Save money. Use saved money to invest and get more money. Save some more and continue the cycle.
#Thankmelater#