8 Ways to save your money in Nigeria while working a 9-5 Job

When it comes to the issue of saving money , you must be disciplined and committed to various ways by which your money can be saved so as to ensure you have some certain amount you can fall back to when some urgency needs arise .

Follow these 8 ways to create a money saving habit.

1. Make a list of all your spending

The first step in saving is to make a list of everything you spend money on.
Since you buy both useful and unnecessary things, Make a list of everything and make sure you do this once a month when you get paid.

2. Create a budget plan
Make a monthly budget for how much money you want to spend and commit to it.

3. Make important purchases

Do not buy everything that catches your eye.

Purchase what you need rather than what you want.

4. Give up unhealthy habits

Reduce some of your unhealthy habit like Drinking, smoking, gambling etc

You might feel these things are not taking too much from your wallet but sit down and do a calculation of how much you spend on them and you'll be surprised how much you invest in them.

It is not actually easy to cut down on some habits but just start.

5. Spend less time with friends

Going out to expensive restaurants and bars, or to the movies with friends is fun, but think about how much money it takes if you do it all the time.

If you're the social type who can't get enough of having a good time, plan sleepovers or get-togethers with nice food, beverages, and, most likely, Netflix and chilling with friends. It is, believe me, generally less expensive

6. Do it yourself

If you really want to cultivate the habit of saving , you must learn how to do somethings yourself.

It is not everytime little things you get spoilt in your place you call an expert to fix. Remember the expert won't do it for free.

You can even use YouTube to source for solution, all you need to do is type "How to do xyz" .

Doing this yourself has save you from expenses you never plan for .

7. Avoid getting into debt.

By all means try to stay away from Debt. If you are willing to save money you must avoid Debt at all cost. Some of the ways by which you can avoid Debt are as follows

Pay with cash whenever possible
Stay within your spending limits
Avoid "buy now, pay later," "interest-free financing" and like offers that merely postpone debt
Take only the cash with you that you can afford to spend while shopping, and spend only that cash.

8. Establish a Savings Account.

Have a separate account dedicated entirely for saving money meaning Money only comes in, but it never leaves.

Another thing you should take note is not to request for this savings account's ATM card

And why

You might be tempted to use it every now and again, but once you do, you won't be able to stop.

Hope this is helpful

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Adeleke Femi David
Digital Entrepreneur/ Affiliate Business Consultant