(Market watch)
Want to share this piece with the steemit community. As a student,I have learned a lot in self management. Calculating the allowance they send every month,one have to really know how to do the opportunity cost one learnt in economics in senior secondary school. Is a very simple thing. If you don't spend your money the way you should for it to last ,you know what happens next. Hunger tells on you. And the next thing ,you start borrowing and some of which you might not be able to pay.
Successful living at anywhere in the world requires being able to manage your finances. Success generally can't go without financial progress. This is the reason why everyone of us must know how to manage our finances. These attitudes when learnt very well helps us even outside the university environment.
My greatest problem few years ago,was knowing how to manage my expenses and save for future purpose. It was hard for me financially then. I had to go through a lot to keep up with my financial life. It was not easy at all. Even up till now,if I don't manage myself well ,I end up being broke at times.
1 Monthly Earners,
(CNBC)
Now lets talk about those who are on monthly pay; some of them spend their money even before they get paid for the month. As I was growing up,I learned a lot of things my father had been facing right from my teenage hood trying to carter for my needs. Salary earners have a lot of difficulties when it comes to trying to manage their finances, especially those living in developing countries with high prices of goods and services and low money value.
This comes the time when you will be asking yourself how those who are doing well live . And how they get their money. Is never easy to them as you think on their behalf. Many of them have actually passed through what each and everyone of us had been in. They have carried their cross and have passed the finish line. Life can actually make us look different. At times,we will be complaining as if the whole world is against us. But it is not actually so anyway.
Now how do some of these monthly salary earners manage to live a good life?? These were some of the questions I had been asking myself few years ago. I became closer to a neighbour in my lodge who was working . One thing he told me I can't forget is that,the best employees who enjoy financial freedom to a large extent are those who have saving and investments attitudes. And that make sense.
To me ,our background was a very tough one with money- human relationship. So many of us grew up seeing money as something we spend every time it comes. We see money as our problem solver and not our success creating tool. So what happen is that when we get any money what we tends to do,is that we remember our expenses. We remember our challenges,but we never remember that we planned of some investments few weeks ago.
This is the reason you find some monthly earners and weekly earners very hard saving for future investments. If at all these persons saves,they do that for future spending. And this is the reason why a lot of us find it difficult reaching our financial goals. As a monthly earner you should be able to save at least 20% of your income for future investments. 20% of your income every day no matter how small your income may be will make you rich in no time.
2 SELF EMPLOYED,
(Livemint)
Some of these people find it very difficult to save. Reason because they find contact with themselves and money on a daily bases. But this should be used as an opportunity to understand money. The business plan should be followed. And at the end of the daily calculation, savings should be made from the day's profit.
More financial tips coming. Thanks for reading this short piece.
@GOD'TIME OMONIGHO
Vwede#9935 on discord