Cultivating the habit to save.

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It is pertinent to note that large number of the working class don’t actually save, thereby end up their carrier life hoping to benefit from what is mostly refer to in my country Nigeria as the “national cake”.

This is not far from the fact that emolument given to the workers especially in the third world countries is nothing to ride home about.

Some may not agreed with this saying but base on self analysis, I discovered that in Nigeria the larger percentage of so-called civil servants will retired into poverty, few that might engaged in extra-working activities like operating a small business may be sustained for sometimes after retirement and if they understand the principle of business management base on their operation such businesses may turn out to fortune.

The 3 or 4% who stumble on cash and got themselves living above means may keep their prestige for few years after retirement and soon money find them at their level, meaning they cannot sustained the luxury lifestyle therefore they will also be caught up in poverty. Such people sometime even died of health issued such as heart attack due to depression.

Job Security

Job Security

Virtually almost every civil servant believes that his job is secured, the ideology is good but it real sense i called a life scam, all or rather 99.9% of gainfully employed workers in Nigeria believed they have job security especially those in government sectors, when you asked them what is the security about the job you will hear something like, it is a pensionable job, you are sure something will come to your bank account every month end.

The question here is (what is Job Security).

The most alarming issue in relations to job seekers is that virtually every young man or woman want to be so-called gainfully employed, but the predicament is that most of them have no interest in self development.

I’m sure someone will “say what do you mean?” let me leave this matter for another article.

If you carefully analyze your spending you may find out to your shock that most or throughout your working life you leave on debts. Thereby implication, nothing can be saved at the end of every working year.

Majority of the working class believe in working to earn a living but have forgotten that there is nothing as such rather you are living and working your life out, which will soon be clear to you that you must retire into poverty.

Slavery in disguise

Slavery in disguise

Many working class people that are gainfully employed have been lured into taking bank loan in other to acquire a house or mobility (car). If you took a bank loan and purchase a liability you have enslaved yourself and endanger your future.

This is an irony “you have mortgaged yourself for a stipend called salary and you have sold your self into slavery by taking a loan” and so therefore you do have a choice but rather a work must do, even when lucrative opportunities comes your way, you cannot do anything about, why? you are already a slave to term of your debt until you clear it.

I believe in this saying “you are the product of your thought” because the bible says in the book of Proverbs 23:7 “For as he thinks in his heart, so is he. As one who reckons, he says to you, eat and drink, yet his heart is not with you [but is grudging the cost]”.

According to Obioma Anukwuem an Inspirational Entrepreneur and Medical Doctor based in the State who wrote in his book titled Debt: Slavery in Disguise

The author believes that to do well in any area of life, we must be true to ourselves, be passionate about what we want, be decisive, and do right all the time. Our dreams, motivations, and aspirations have to always be at the forefront of our thoughts. Unless we change our mentality, life will always seem to be the same”. read more >>


How can I save money when my earning is not enough for me?

Of a truth it is hard to change your way of livelihood when you got yourself into so many and unnecessary spending. But come to think of it, if you properly check your bills you will agree with me that 20 to 30% of it may not be necessary. Consider cutting your spending, these step will help you more:

Check your earnings in hand

Managing your cash is very essential thing to do, consider making a list for food stuff that may take you through the month, and decide to cut down going to restaurant. Because you want to save more manage your spending on transportation, you may also consider taking a bus or train to work instead of driving yourself.

Putting such things into consideration will help you check your earnings in hand, you will therefore see difference and may also want to improve more, because there is a saying that says “you cant eat your cake and have it”.

Make it habit to first save and then spend

Start with saving 10% of your earning every month, this will help to build a lifetime savings.

It may be very hard to accomplished from the beginning but when you cultivate the attitude it will become a habit. It is said that practice made perfect, that does not exclude the fact that you may fail several times, but with consistency even in the midst of up and down you will attain to success if you do not quit.

Set a monthly budget and set aside a fixed amount each month

Considering your income, savings and expenses will help you manage every single penny that comes in. Making a budget is good, when you do that, prioritize your budget.

Take care of the basic needs first then consider the essentials.

Decide your priorities

When you prioritized your budget consider your immediate need, take the now leave the later, tomorrow and next week. Manage your resources carefully, avoid wastage of resources.

Self Control -Avoid impulsive buying

Sometimes you may feel like you have lost track or self-control on your finances, the feeling not far from the truth, if you are like me, i believe you are tempted many times to spend more money daily.

The issue is that saving money has to do with exerting will power and self control. According to American Psychological Association Research shows that certain strategies can help build up self control around spending and saving money.

Reduce your bills

Obviously bills are necessity that cannot be totally eliminated in our lives, they always came into our lives best on our taste for good livelihood, but when money is tight and you want to save, you need to be selective on what utility bills are from any other bills. The balance website talks about seven (7) ways to reduce your bills in order to save money.

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