10 Success Tips to Save Money for Investment

I used to be pampered and had everything within my reach until the unexpected happened and I found myself living in a N200,000.00 per year apartment and had only a steady income of N18,000.00. When I saw myself in this situation, I had only two choices before me:

  • One was to strive to keep living in the said apartment by finding other things to supplement my existing income.
  • The other choice I had was to look for a smaller apartment that would match my monthly income.

With these in mind, I set out to minimize my monthly expenses to the barest minimum and what you are about to read now are tips on how I survived with paying my rent successfully for two years with an N18,000 per month static income (salary).

Read on and be inspired. I have come to realize that man’s innate nature is to acquire, admire and acquire and by this I mean that humans have the tendency to acquire both what they really need and that which they naturally can do without just because some other persons own or possess it.

In my quest for financial intelligence, I learned that the secret to financial independence is all about delayed gratification. It is a matter of save now and feed your flesh, material desires and wants later. Your School teacher, lecturer, father, mother or guardian will not teach or tell you what I am about to reveal to you and you will be doing yourself a lot of good if you can be disciplined enough to abide by them.

Let’s begin;

Ten Reasons why You Can’t Save Money

  1. You have formed the habit of telling close friends and relatives how much you earn, so they plan their budget with your income in mind.
  2. You eat outside in canteens and fast foods and you wonder why your boss cannot increase your salary so you can do that more often.
  3. You have grown so big and you cherish the smile that your dry cleaner showcases whenever you come around just because you want clean gator lines on your shirt and you wonder why the dry cleaning business is booming.
  4. I have a clipper and all you need to get a decent haircut is standing alone between two mirrors facing each other and I bet that you’ll be happier thereafter with the satisfaction of doing it yourself.
  5. I bet you have access to borehole water in your area, you have a gas cooker and there is a mini market in your area where you can get white five (5) litre gallons, yet you relish the thought of buying chlorine filled pure/bottled water like your dignity depends on it.
  6. If you are really striving for a better financial future then I think the joys of having a girl friend should be delayed till you make it except you have other ideas which I am definitely not a party to.
  7. Plan a monthly budget and strictly abide by it. It takes discipline to stick strictly to a budget. Doing otherwise will cause you financial embarrassment if you are not careful.
  8. Movies, Movies, Movies, I love movies too and I know you can spend quite a fortune buying movies from movie stores or from cable satellite subscription or Mobile Data subscriptions. This should be a no-no for now if you are really interested in your financial future.
  9. Don’t take alcohol and don’t form the habit of buying alcohol for others just because you want to prove a point, if they are hungry, offer to take them home and prepare something nice for them. They’ll appreciate it more.
  10. Finally, but not the least, never make a promise based on money that is not in your pocket and never buy anything to pay later.

Be just in your dealings and favour will smile on you. I know it is not as simple as I have stated it and eventualities may crop up, but I stand to tell you that if you are really serious about sticking with the above success tips and you actually stick to them without compromising, favour will smile on you. If it worked for me, it can work for you, it depends on your belief (frame of mind).

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