When I started working in a corporate firm, it was really hard to make good use of my salary. I was always broke and hungry two weeks into the new month and it was very hard for me to give a proper account of what I was using my money for. I thought “Oh it’s my money and I can do whatever I wish with it. It wasn’t as though I was spending lavishly though, it was more of the fact that I did not have priorities and I was spending on every need that I came across. The fact that the needs became endless and the money was limited made me always be on the backfoot.
Photo by Frugal Flyer on Unsplash
Soon I was in debts before the month end and it became worse because I would use my salary to pay for all the debts I accumulated before my payday. The idea that I had money coming at the end of the month made me delusional enough to spend recklessly (spending on every need) and further made me feel I wasn’t earning enough, meanwhile It wasn’t just because I wasn’t earning enough but because I was not maximizing my earnings efficiently. I had to learn how to prioritize, but it was really hard as I first had to learn how to get out of the debts I was accumulating.
Today I am able to spend more efficiently and ensure that I have just enough to see me through the month. The idea is not to always have money, but to be able to have what can sustain me for the month. This is why I first set aside 10% of my income for investments like stocks, mutual funds and crypto, then I remove my transportation for the next month to ensure that no matter what I would always have money to go to work, then I stock my house just enough to take me for the month my buying things in bulk. Whatever is left I send to my parents, siblings and get a few things I want. When it finishes I am not in a hurry since I have food, data, and transportation to work.
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