If you ever feel like your spending habits are becoming extravagant and you looking for a way to curb it, you’re in luck. You’ll agree with me that spending money is way more interesting than saving it, especially when it’s that beautiful bag or human hair, or that Nike sneakers of your dreams. There’s absolutely nothing wrong in looking sharp and spending to look exceptional, but you’re going to need to save up so you can afford a lot more later, except maybe you’re extremely wealthy. In no particular order, here are a few ways to easily do that;

A budget

1. Create a budget: In order to spend appropriately, you will need to create a working budget on what exactly you need, necessities basically. Examples of those would include; Toiletries, food stuff, fuel if you have a generator, transportation and a little extra for unforeseen circumstances. A budget will definitely Keep you on track with limited spending. Now that you have a budget of the percentage you want to spend, create a percentage of your salary or income that must be saved.

2. Keep track of your spending: Taking inventory of how you spend is very important as you can clearly see on your notepad or your phone’s notes how you spent your money. When you can clearly see what you have been spending your cash on, it will be easy to cut down on the things that are not necessity.

3. Buy in bulk: You’ll agree with me that buying a carton of noodles will be cheaper than buying in individual pieces from the shop in your area. Buying in bulk will help you save a few extra change which could come in handy for transportation fares and maybe other petty things. Bulk buying also saves you the stress of coming out if your house from time to time to buy a little piece of this or that.

Pricing in progress

4. Be a great negotiator: Pricing may be a skill for the old people you could say, because parents, especially mothers are very good at pricing products. You as an individual should cultivate a healthy pricing ability, which could also save you a few bucks. With a few pricing here and there, you would realise that you’ve saved some good amount unknowingly.

Investment Banking


5. Invest or open a fixed deposit account: This account could also be a target savings account, one which means you’re saving for a particular reason, maybe for your rent, a car, a new business and so on. This account would restrict you access to it for the particular time that it should, so that target could be achieved. Also, investing in profitable businesses or schemes that would yield returns in a few months or years is also very much necessary.

The need for savings cannot be overemphasized, as spending money is way more easier than earning it. That little savings you are working at could just be what would save you in a few months or years time. Local contribution groups (typically called Osusu) also exists, that is another way of getting to save money.


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