Put up your hand if you want to save more. OK, keep it up if you feel like it’s too hard figuring out just how or when to start putting some money away. Well, all that is about to change.
Break it down
Instead of blindly declaring that you want to save some money, we recommend breaking down how you intend to do that. Let’s say, you live on 30%, and save 70% of your income – you get the drift? Now, if it gets too difficult, you could use a budgeting app to see where your money is going each month—that should sober you up.
Deal with your debts
You’ve got to keep some cash to help you pay off your debts. The trick to this, is to start with the high-interest debts because they typically come with hefty penalty for late fees. You’ll be doing yourself a huge favour in the long-run by doing this.
Work on your side hustle
For extra cash, you’ll need to indulge in passion projects. If you can check your ego and apply yourself to completing tasks, then you’ll have some extra source of income. A side hustle would be an irreplaceable asset that you’ll need to complement your earnings, or for if you ever decide to quit your day job.
Don’t spend more than you have to
Realize when the rent, shoe, dress, car, or dinner is too expensive, and simply forget it. If you’re lucky enough to call a city like Lagos home, you know that rent and other necessities are laughably expensive. Decide when splurging on those seemingly important stuff can hurt your account. Our advice: Get your car into shape and cook your own dinner!