Improve on Your Savings: A Brief Introduction
One of the biggest challenges I had earlier in life as a bachelor was managing my finances. I couldn’t even manage spending, talk less of having something reserved for the rainy days. I was in debt several times, and I had to think my way out of it!
Making money is a whole different subject, and managing your expenses is another. You could be making so much and yet have so little to save. There are several factors that contribute to what you spend, how you spend, and what influences your decision to spend. Several factors, such as the kind of friends you keep, your family demands, your spouse, and your flare for acquiring commodities or assets, among others. When I had issues with saving, one of the things I noticed was that I tried to impress my circle of friends who buy designer clothes, shoes, and other accessories to “affirm” their relevance within our sphere. I didn’t mind my own level of wealth before nurturing the thought of “being like them!” There is a Yoruba proverb that says, “a sheep that moves with a dog will sooner or later perch on faeces.” When it comes to business, it is good to find a group of rich prospects that can patronize your products and associate with them on a periodic basis. But moving with extravagant spenders as your close friends is really not a good idea. Whether you like it or not, you’ll pick a habit or two, and you'll end up wondering where all your money went! So, mind your circle in spending, but always be among your greatest bidders while selling! With this, you’ll save some money.
Beyond the juvenile approach to saving, one of the best ways to save is to focus on assets, especially those that provide for your daily needs. For example, you can buy land and expect its value to appreciate over a year, or you can buy land and plant on it what will most likely meet your daily needs. There is an initiative tagged “Grow What You Eat.” I believe we can all learn a thing or two about the concept. The idea is to plant fruits, vegetables, and other human daily requirements as nutrients for the body. Then, you literally eat from what you grow. If, after your expenses on what you planted, you have something to eat and save on feeding, you can invest your savings to scale up and become a major distributor of your produce. The requirements for establishing such a business are not all that demanding. You can follow @monica-ene for posts on topics related to this. You’ll agree with me that you’ll save a lot if you can not only feed yourself but also make some money from feeding others.
I’ll finally leave you with this, no matter how pressured you are, never live a fake life to impress anyone. Be original!
Kindly drop your thoughts. See you soon!