A lot of us want to save money but we just don’t know where to start.
People that are successful with money have the habit of setting and writing their financial goals. They write them down as a motivation tool but also as a reminder of the timeline and the reason why the goal is important to them. you might realize that this is the best money saving plans so far either as a college students or for your kids. This probably is one of the best ways to also save money as a Nigerian.
Below is a quick guide to help you establish some goals on how to safe your money and invest.
1) Write down your goals in a piece of paper that you can review every day, every week or at least once per month.
2) Set reminders that continuously motivate you to achieve your financial goals. At one point, I had a reminder on my fridge, on my bathroom cabinet, and on my dresser. I was so determined that I printed my goal in a very nice piece of paper and frame it for the living room. I can proudly say that I achieved my financial goal to be debt free with exception of the mortgage payment!!!
3) Figure out how much you need to save every month to achieve your goal. Include the amount in your budget on the very top of your list to ensure you don’t forget about it. Make it a priority.
4) Every time you save because you stop yourself from buying something you didn’t need, put that money into your goal (via savings accounts, money market, your piggy bank, or an envelope at home designated for your goal).
5) Choose a non-monetary way to reward yourself if you achieve every month to be on track.
“To earn wealth is but a slight burden upon the thoughtful man. Bearing the burden consistently from year to year accomplishes the final purpose”. (The Richest Man in Babylon)
I recommend you read this This book “The Richest Man in Babylon” It lays out the basic principles on how to become financially successful.