The economy of our many nations is currently in turmoil with its attendant impact on the income, lifestyle, and standard of living of its citizens.
However, with financial discipline and intelligence (common sense), the impact of such economic downturns on individuals could be minimized while a seemingly difficult situation could be turned into an advantage for you.
Here are a few helpful tips:
- Reduce your expenses: Surprisingly, making a few changes to one’s lifestyle may just go a long way to saving you a lot of “wahala”.
- Track your daily Expenditure: It is important that you monitor your expenses and seriously work towards reducing it. A deep dive into your Expenses will tell you that some things you spend money on are not really that necessary or a do-or-die.
- Start Saving or Commit to Monthly Savings: Ensure that you save regularly like daily, weekly or monthly. This is one of the reasons joining a Cooperative Society is so vital to your roadmap to financial discipline and intelligence.
- Invest your savings in Money Market Instruments: Join a strong progressive group like a cooperative where funds can be pooled together to make huge investments for the benefit of members; there is power in coming together for progress.