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Do you find it hard to control money? Here are my five tips to help you stop spending blindly.


1. Have a budget.

Write a budget for each months even before payday. Don't get it twisted; I don't mean your mental budget. Put it down on paper. It will help you know where you are spending more.

More to that, it is only on paper you can reduce cost and overheads, and cancel irrelevant wants.


2. Know the difference between wants and needs.
I want sth is very different from I need sth. Of course, you need kerosene or gas because you must eat but you see that new shoe for the new cloth? You actually want it not need it.

Draw a scale of preference demarcating your needs and your wants.


3. Save.

Save first before you spend a dime from your income. Save a particular sum in an account you wouldn't tamper.

I encourage people willing to save to avoid using USSD codes at all cost to recharge.

Further more, spend what is left after you save...not saving what is left after you spend.


4. Go to the mall or market with the budgeted sum.

Yes, don't go above the budgetted sum so that flashy things don't make you spend more.


5. Avoid a debt profile.

Avoid owing at all cost. A Bible proverb says that a debtor is a slave to the borrower.

You enslave yourself.

To be successful, you must learn to live on budget. More so, it is advisable you budget a particular sum for unplanned occurrences which are likely to happen.


Tips: Learn to buy only want you need.


Thanks.

For more tips, follow me on Nairaland.

cc: lalasticlala, seun 1forall , CrazyMan

Nice one

bemagnify:
Nice one

chatinent:
cc: lalasticlala, seun 1forall , CrazyMan

bemagnify:
Nice one

Thanks