Money Talks


If there is anything I've learned about money, it's that; it goes as easily as it comes. Especially in these times when the value of money depreciates by the day.


We need to imbibe the saving culture now, more than ever. I know, I know, there's a pandemic going on. I haven't forgotten.


With that in mind, I will be highlighting some pointers which would help with our saving culture. Some of these, we may already have put in place. Others, we may have ignored. Or perhaps, you're new to this whole savings thing. Stick with me till the end though.



#1. Pay Yourself First. A lot of us whilst budgeting usually wait until we've covered all our expenses before we consider saving whatever little is left. I used to be like that too until a book titled 'The Richest Man in Babylon' showed me a new way.

What if (and this is a big 'what if' moment here) you took out your savings from your income, and then worked your expenditure budget around what was left. A particular percentage, the book suggested, and you never save less than that percentage. You could go higher but never less than the stipulated percentage.



#2. Spend Less than You Earn. What? Am I for real right now? I can't believe it either. But, it's possible. Yes, I said it. It is very much possible to spend less than you earn. Even now when the price of everything has been hiked, and the inflation seems to be galloping.

Cut down on those unnecessary spendings.

Refuse to indulge your whimsical cravings.

Apply the 30 days rule to your impulsive buyer's syndrome.

Your account balance will definitely thank you for the change, however slight.



#3. Invest. I'm sure you must be tired of seeing these investments talks but truly your savings doesn't hold as much weight if it's not bringing you interest. Money was made to make more money not sit there and look pretty.

So keep an eye out for good investments plans, check out different interest rates and most importantly do not fall for ponzi schemes.


Finally, abandon that "I can't come and kill myself" mentality. You won't die if you don't spend all your money. See that 'Aye o pe meji' mentality, leave it for when you're so wealthy and you can't even spell broke anymore because, you obviously can't relate.


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