Our finances are an integral part of our everyday lives and rightly deserve to be treated importantly. Finances permeate every aspect of our lives. They go a long way in determining our general well-being and state of mind. Hence, we can’t afford to leave to chance anything that has to do with our finances.

We can’t afford to be insouciant with our financial habits. We need to cultivate financially healthy habits if we really do want to make our finances work. While I don’t have it all figured out, yet, it is something I’m actively working towards. Financial freedom is the goal and I owe it to myself not to stop until I eventually make it work. Below are some financially healthy habits that have helped me so far and some more that I plan to put to practice.


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Learn To Save Money.
To save, you need to carefully scrutinize your habits. What are those ‘expensive’ habits draining money from you? Where can you cut back on your spending? However, of great importance is that you know why you are saving. If not, you’ll probably end up squandering your savings. Are you saving to invest? Or, to acquire assets? Are you saving for your retirement? You should have a reason for saving.

Avoid Impulse Spending And Spending To Impress.
Spending on impulse or to impress is a wasteful way to spend money. You should avoid it at all cost. Remember, every kobo that you lose to impulse spending is one extra kobo you will never get to save.

Invest.
Investing your money is another of the many advisable financially healthy habits you can imbibe. And if you can exercise the patience it requires, settle particularly for long term investments. However, before you go ahead with any investment, make sure to do your due diligence and be true to yourself. Not every investment opening that pops up is worth putting your capital into.

Track Your Expenses.
Having a budget is a financially healthy habit you should put to use. Draft a budget, weekly or monthly, and adhere as much as you can to it. The absence of a budget is the reason behind most of our wasteful spending.

Adopt A Frugal Lifestyle.
Simplify your life. Decide to cut down on unnecessary expenses. Sacrifice immediate gratification for the sake of your financial goal(s). A frugal life equals more capital that can be put to good use.

Create multiple streams of income.
Because, really, what’s better than one source of income? Two. And what’s better than two? Three. And so on. Multiple streams of income are advisable just in case one source of income dries up, you aren’t left stranded. This is where you can begin to engage your passion and put your talents to good use.

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