₦airaland Forum

BiafranBushBoy:
If you have decided to improve your financial condition this year, then this post is a must-read. Inside this post are some of the mindsets you should avoid if you want to succeed this year.

Just like most working class graduates out there, my finances aren’t perfect; but within the last few months of last year, I learnt a lot I implemented, and it worked wonders for me. Making progress on financial issues can prove to be difficult. To say “I want to be debt free” is general – as there is no starting point or call to action. Setting up your financial house isn’t impossible; you only need to start from somewhere.

These are the basic steps I took, and you can also use it to improve your financial condition as a white collar jobber man.


https://topwritersden.com/wp-content/uploads/2018/01/condition__condition.jpg

Pay yourself first

This basic step to improving your financial situation is to pay yourself first. It might seem a little bit odd, but it is the one convenient ways to improve your financial condition. As soon as the paycheck drops, you should take out an amount and pay yourself first, before looking out for other debts to clear. This was how the richest man in Babylon came about.

Paying yourself means taking out a portion of your income daily, weekly, or monthly, then you save or invest it. If I were you, I will choose the former as the best way to pay myself.

Several times when an investment opportunity springs up, one of the common excuses to hear is “I don’t have enough to invest.” This isn’t because you don’t have enough; it is because you didn’t pay yourself first.

Just learn to pay yourself first, and then you will be fine.

Don’t Save to Spend, Save to Invest

Nothing scares me more than when I hear someone say “I need to save to buy a new car.” No one should save his hard earned money to spend it; rather you should invest it into something reasonable, then you use the passive income and accomplish your needs.

According to Wikipedia, passive income is a cash flow received on a regular basis, which requires minimal to no effort by the recipient to maintain it.

Passive income has been the best thing since pizza. To improve your financial condition or status, you should have your eyes all opened for streams of passive incomes.

There are several ways to earn passive incomes and improve your financial condition, and a few of them are;

- Invest in an already established enterprise
- Negotiate for higher pay
- Take up side jobs/projects

You can either speak to your financial advisor or reach out to me using the comment section and I would guide you properly.

Have a Budget and a Financial Calendar

Have you ever seen the big corporations and organizations making financial plans and projections? That’s exactly how you should run your finances. The only way to improve your financial condition without any side income is to stay with or below your budget.

But what if you don’t even have a budget?

You should really learn how to draw up a budget now, keep it real with a financial calendar and then make projections.

Having a budget is one task, spending within your budget limit is one hell of another task on its own.

Read and Master Financial Numbers

It might not sound too interesting at first, but it is a crucial and basic step to improving your financial situation. I was never a finance student in college, but I am working on correcting that right now. I need to know what the banks know, so I am reading up on stocks, taxes, interest rates, and 401(k).

There is a lot to learn, so I am taking my time, and it has really helped me make better plans. This means I can now take decisions without hurting my financial condition.

Put money out of your reach

Credit cards and ATMs for those in Nigeria are one of those things that will aid you go broke before you say Jack Robinson. A simple rule is to make sure you don’t have any of them for your ‘real’ savings account.

You should also not keep a large sum of money in the house, as the urge to spend on irrelevant things will always crop up.

Learn to shop online during festive periods

Easter, Halloweens, Christmas, Black Fridays, and New Years are known for one thing “DISCOUNTS”. If what you need to get now isn’t so urgent, you can wait for a festive period to buy it at a more discounted price.

A premium theme I bought $65 is now selling for $9 just because of the New Year promotion. It was urgent then, so I have no regrets.

Start Something

The best was saved for the last. If you sincerely wish to improve your financial condition, then you need to stop running from poverty and chasing wealth. How long can you keep cutting cost just to stay afloat, when you can live the way you want by minding your own business?

No business is little as long as it generates revenue for the owner. As a working graduate, couple or single parent, all you need do is start something no matter how small. If you manage it properly, you may just live the life you dreamed of.

To improve your financial condition is not rocket science. It is all about making plans and getting down to work. You may plan all you want about improving your financial situation; but if you don’t take actions, you might just keep making movements without covering any distance.

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greenhulk:
Exactly, and yet some people will still act hostile to any foreign company that thrives here. I can bet that even if TSTV (or any Nigerian owned company) gets the EPL rights, they will still screw it up just like Hitv did and DSTV will still come and get it back.

biacan:
So cute the man looks responsible and respectful

Mannyemmy:
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Fieldmarshall:
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SuperSuave:
It's a pity the crave for social media publicity has wiped some people's brain. Someone's father, someone's husband, someone's brother died on a pole and all these ediots could do was to take pictures happily so they could post on the internet later and get cheap likes and publicity which won't even fetch them a kobo. It's a pity.

QueenSuccubus:



Mi PAPI es muy CALIENTE!


It reminds me of TrapHedges' abs *drooling*

HRich:
1h go give you 20k

played 5k yesterday won 108k

editing is allowed