I feel the problem with most youths including me is money. How to get it, and how to make it fast and easy. We all want to live large, use the latest things in town, the latest gadgets. Basically, we all want to feel among. And the only way to achieve this is to have money.
Let me tell you a short story, so on this day, I got back from lectures. And it was not the end of the month yet. It was even so far from the end of the month so no pocket money, and I was already broke. I had only 500 naira with me, I sat down and just thought how will I survive? what exactly did I spend my money on? so I took a pen and a paper. Sat on the floor in and started listing things I spent on.
I realized from there that I bought a new top. Subscribed so many times, ate out a lot of time. Gave out my change to tricycle riders bought some things that are totally unnecessary. I couldn’t even remember some things again. And I thought to myself SIJI how will you manage 500 naira. You better call daddy and beg him for money. I replied myself immediately nahh, you spent the money, enjoyed the good times, well you’ll enjoy the bad times then.
I knew what it felt to be totally broke that month. That day I made a decision to have good spending and saving habits. I want to share it with you, maybe someone here is like me.
How much exactly do you earn
So this may sound so funny to a lot of people. Especially to the younger ones cause we are still our parent’s babies. We still collect money from them, but that’s also an earning too. At least if you’re still in secondary school you should get at least 150 naira per day that’s 750 naira in a week and 3000 naira in a month, you earned something. When you actually know the amount that’s coming in, you’ll be able to plan and have a budget.
Invest in something/ start something
It’s not too early to invest in something or start a business, I’m actually super proud of our generation, we really don’t sleep on anything, I know most oldies tell us we are lazy but it’s a lie since this pandemic saga started, a lot of innovative ideas have been born, like so many business ideas. It’s always so nice to have a steady income, we can’t always depend on others.
Make a Spending budget
I want to believe so many of us don’t really make budgets, we just spend the money anyhow I was once like this, but I’m getting better, so every month I have a budget, and on this budget there’s a place where I write wash my head, if you understand Yoruba, translate that to it. You see I need to enjoy my life too but I already cut it down to once a month, then our data subscriptions we spend a lot on that, like data is life no doubt, but if you sit down and think about it, we spend way too much on it. You can cut it down, for me, it’s not all the videos I see on Instagram that I watch, I skip some cause I have a budget that I must not exceed, making a budget generally just keeps you in check.
Work towards a saving goal
It’s always so good to have something you’re saving towards, you get motivated cause you know what you’re saving for, set a date you want the money to be complete. No one has it all, there’s something you want but you think you can’t get it now maybe you can’t afford it yet and you’re waiting till the money comes why not save towards that.
Get a saving platform
With the world now everything is digital, there are several saving platforms you can use, I personally use piggyvest and I like it, it works well for me, every week I already automated a certain amount that should go there, and it’s very good, you can lock your money till a certain date, there are also investment plans and target saving goals there, just choose the one that works for you.
Act like you don’t have extra money
Extra money can come in anytime, but that doesn’t mean you spend it once it gets to you, you were fine before you got and you’ll certainly be fine if you spend it. What ends up happening with most budgets is that along with more money, there are more expenses that get added on also.
I practice this now and even when I say I’m broke, I know there is some cash stashed somewhere. I hope you learned one or two things tho and if you have something you want to add you can leave a comment.