Nigeria is in a recession. This has made many
to significantly cut their spending. So, as 2017 beckons, it is essential for
you to make money resolutions in other not to fall into any financial abyss. In
order for you not to be inundated and spend aimlessly, We encourages
you to try these 5 tips for saving money next year.
Put it in
writing
The very
first financial resolution you should make is to spell out your
financial situation. You can a few hours to take inventory of all of your
financial accounts. This will go a long way in helping make reliable money
decisions.
Use your
smartphone to help you save
There are
uncountable apps available to help save and at the same time watch
your expenditure. These apps will help you analyze the way you use your
accounts. It also allows you to compare how much you spend versus save. You can
use mint.com.
Start
small
You don’t
need to make any extreme financial decision at the beginning of the year. You
should make small changes when cutting your spending so that it won’t have a
huge impact on you. With
these gradual changes, you will have reasonable savings and at the same time
get the best for yourself.
Look for
ways to earn extra money
Another
important resolution you should make is looking for ways to earn extra no
matter how small. This will diversify your financial sources.
Reduce
impulse spending
You should
make it a habit to reduces the purchases you didn’t plan for. Your rule of
thumb should be if it is not in your budget, you shouldn’t but except if the
purchase or transaction is very important.
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