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Overspending, how can I control it and save money ?
Overspending is an issue that affects many people. It usually leads to a dent in your finances and causes you to struggle or get into bad debt. Here are some tips to control overspending; 1. Prioritize your needs in your budgeting -Â this helps you to spend intentionally and not randomly. It also preRead more
Overspending is an issue that affects many people. It usually leads to a dent in your finances and causes you to struggle or get into bad debt. Here are some tips to control overspending;
1. Prioritize your needs in your budgeting –Â this helps you to spend intentionally and not randomly. It also prevents you from spending on wants before your needs.
2. Say no to your urges to spend –Â overspending usually starts with an urge to spend on things you cannot really afford. You can train your mind to control this urge by saying no everytime you feel or think the urge. The more you say no, the stronger you get in discipline.
3. Budget fun money.Â
Recreational activities and outings are fun activities that most people overspend on. That is why budgeting on them will help a lot. That way, you won’t continue spending on it randomly and regret later over the dent you created.
See lessHow To Save Money For An Important Event?
When saving for a specific thing, I usually like opening a specific lock savings account for it. I prefer a lock savings account that does not allow me to access the money until I reach the target or the set number of days I set to save for. Another great way to save with discipline is through contrRead more
When saving for a specific thing, I usually like opening a specific lock savings account for it. I prefer a lock savings account that does not allow me to access the money until I reach the target or the set number of days I set to save for.
Another great way to save with discipline is through contribution groups. Those groups usually don’t allow you to access your savings easily. That makes you save with discipline and intention.
See lessWhat's the Best Savings Tips For A Retired Employee
A retired employee usually get a pension and they can do so many things to save it. One great way is through investing it in a business. Investment is a saving method that not only preserves your income but also helps you earn more. One business they can start is a consultancy firm. Given their vastRead more
A retired employee usually get a pension and they can do so many things to save it. One great way is through investing it in a business. Investment is a saving method that not only preserves your income but also helps you earn more.
One business they can start is a consultancy firm. Given their vast knowledge after working many years, they can provide consultancy services to businesses in their profession.
They could also invest in real estate through buying of properties, agricultural real estate or rental property.
A retired person could also benefit from asking a financial advisor to guide them in their investment.
See lessHow To Hit Your Savings Goal Everytime?
Here are tips on how to hit your savings goals everytime; 1. Identify your source of money. You need to explore and make yourself aware of where you will get the money you need to invest. Is it from your business? Your salary? Online earning? Awareness of your source of money will help you save intRead more
Here are tips on how to hit your savings goals everytime;
1. Identify your source of money.Â
You need to explore and make yourself aware of where you will get the money you need to invest. Is it from your business? Your salary? Online earning? Awareness of your source of money will help you save intentionally and set goals, which is my next point.
2. Set realistic goals.Â
You need to plan on how you are going to save by setting your goals. Which should be realistic and based on how much money you make. You should budget it alongside your other expenses, in fact, it is recommended to save first before spending.
3. Keep reminding yourself of your goals.Â
Repetition is not just the mother of learning, it also boosts self discipline. Forgetting and becoming inconsistent is a human behaviour that can be controlled when you keep reminding yourself of your goals. Writing your goals down and rereading them helps a lot.
See lessWhat are the different ways people get into debts
Apart from gambling, people also get into debt through buying things out of compulsion. They don't plan for it but because they desire something they saw, they take a loan and buy it. Another reason that people get into debt is when they are not earning enough money to satisfy their needs. They therRead more
Apart from gambling, people also get into debt through buying things out of compulsion. They don’t plan for it but because they desire something they saw, they take a loan and buy it.
Another reason that people get into debt is when they are not earning enough money to satisfy their needs. They therefore have to take loans to cover those needs. Such people need to start making money that is enough for their needs.
See lessShould i collect loan to settle debts?
I vote for extending loan repayment period. Taking another loan is not a solution because you will still be in debt and maybe with a higher interest this time. You could pay the 30 thousand you already have and promise to clear the remaining 20 thousand. Then work hard to earn that 20 thousand to paRead more
I vote for extending loan repayment period. Taking another loan is not a solution because you will still be in debt and maybe with a higher interest this time. You could pay the 30 thousand you already have and promise to clear the remaining 20 thousand.
Then work hard to earn that 20 thousand to pay back. You may need to cut your expenses or get a new income source that will give you that amount.
See lessIs it possible to get out of debts?
Yes, getting out of debts is very possible. You can plan yourself well and start working towards this goal of clearing debts. It may require you to strive for better earnings so that you can satisfy your needs while paying off the debt. Alternatively, you can reduce your expenses so that the extra mRead more
Yes, getting out of debts is very possible. You can plan yourself well and start working towards this goal of clearing debts. It may require you to strive for better earnings so that you can satisfy your needs while paying off the debt.
Alternatively, you can reduce your expenses so that the extra money can cover expenses. Critically look at your expenses and decide which ones you can do without. Or reduce those things that you buy a lot yet a little of it could be enough.
Once you get out of debt, you need to try to avoid it as much as possible. Identify those things that lead you to debt and explore ways you can solve them.
See lessHow to Get Out of the Rat Race Cycle?
The only way to get out of the Rat Race Cycle is through investing a lot so that you can earn more money. The moment you start making more money than what your expenses require, you will have gotten out of this cycle. Living from paycheck to paycheck is what keeps most people working so hard yet stiRead more
The only way to get out of the Rat Race Cycle is through investing a lot so that you can earn more money. The moment you start making more money than what your expenses require, you will have gotten out of this cycle.
Living from paycheck to paycheck is what keeps most people working so hard yet still living in debt and financial instability. When you start realizing that your salary should be earning you more money, you will start investing it. You should lower your expenses so that you have enough money to invest.
See lessHow can I stay away from debt ?
1. Take responsibility for your fiances through proper budgeting. - Most people get into debt because they don't budget well, they spend randomly. Most of the time, you will find that they have spent more on wants and end up taking loans to satisfy needs. 2. Earn enough money to satisfy your expenseRead more
1. Take responsibility for your fiances through proper budgeting. – Most people get into debt because they don’t budget well, they spend randomly. Most of the time, you will find that they have spent more on wants and end up taking loans to satisfy needs.
2. Earn enough money to satisfy your expenses. – Another reason why people get stuck in debt is because they are earning less than they need. You should look for a better paying job or a side hustle to help you increase your income.
See lessHow can I generate income from whatsapp post
WhatsApp is an awesome tool that can be used to earn money. There are various ways doing this and one of them is using it for affiliate marketing. You can promote your affiliate links to Whatsapp groups or individual contacts and earn commission everytime they buy through it. You could also use WhatRead more
WhatsApp is an awesome tool that can be used to earn money. There are various ways doing this and one of them is using it for affiliate marketing. You can promote your affiliate links to Whatsapp groups or individual contacts and earn commission everytime they buy through it.
You could also use WhatsApp to promote your content that is monetized through impressions. The more people open the content, the more impressions go high and the more you earn.
WhatsApp is also great for selling products and services. Posting images and posters of what you see in there can help you gain so many customer and clients. They can even use your WhatsApp contact to make orders.
See less