Wow…woke up in the holiday spirit, cant believe its christmas already and 2020 is around the corner. Oh, and I havnt posted here in a while..sorry guys. I started drafting this post early november and only just wrapped it up in time for Christmas as my gift to you…*no pun intented*..lol
I knew I had to write about this and maybe share a few things I’ve learnt thus far as this has been where my head space has been for a while now.
And that’s partly because we are In the holiday spirit and a lot of us would be shooting out of spending limit if we are not careful, and you know what they say about January being the longest month of the year. *wink
Disclaimer: this no expert tip to managing money, rather this is what your home girl learnt after going broke but not broken…yasss girl.
So first hard lesson I had to learn, theres no such thing as too much money, the more your income increases the more your spending capacity increases, I remember a statement my economics lecturer made in one of his lectures which I didnt really agree to then but after some ‘brokeass’ reflection I kinda saw what he was saying. He said a smart money man/woman is one who maintains the same lifestyle even when their income increases.
So for example, if your current income affords you to eat out at a local restaurant and suddenly you get a raise where you can afford meals at five star restaurants… he says it’s not very smart to make the switch based on your income because you end up having the same income level as before because you keep finding new ways to spend ‘new money’
Maybe saying you shouldn’t splurge once in a while is a little bit extreme…um..ok I lied…its a lot. So what I’ll advise you do is, try to save half of your income, so you’ll be disciplined on how to spend/splurge on the other half. It takes a lot of discipline so work at it girl.
The next lesson is what/how you set aside this money, do you dump it in savings account or do you invest it.
Quite frankly the investment part was a little bit difficult for me to get on board with, I used to just love to put money in the ol’ traditional savings account..infact I still do but now I’m a lot more open to other options with higher interest rates, like the verified online savings/investments platforms registered with financial bodies, like piggyvest and cowrywise. Make sure you do your research to decide if you would rather use a regular savings account…..Either is fine, as long as you are saving and not going broke into 2020.
Finally, build your social capital. I woke up this morning to a quote on my Instagram stories that said ‘ pick your friends carefully like beans else you’ll end up chewing stones’. Sounds funny but it’s the truth. Social capital is the blanket that cushions you through the journey of life. Thank God for friends right.
That said lemme carry on with my holiday mood…jingle jingle bell jingle bell rock……jingle time ……in jingle bell square………..dancing and prancing in jingle bell square….in the frosty air…what a bright time it’s the right time….to rock the night away…………………………………………………….
Have a Merry Christmas ASF lovers….cheers.