How I set personal financial rules for myself. You too can try it

​

From my personal observance, personal experience and research, I have find out that it's hard to make money but easy to spend it. At the same time, it's easier to make money but hard to manage it. This issue gave me lots of concern years ago because, I do find it too difficult to make money but, once I get the money, I can easily spend it unnecessarily to the extent I couldn't boast of 5k savings in a whole year. That gave me unwanted headache and heartache. Therefore, I made it my target to minimize my expenditure approach by setting some financial rules for myself. Below are some of the rules I set for myself

​

Minimizing my spending

​

Prior to the time I set financial rules for myself, whenever money entered my hand, out of happiness, I must start buying many things, both relevant and non-relevant items. Do you know that sometimes, I may end up not using some of the items I bought, meaning that some do spoil and turn to loss. Therefore, I scrutinized my earnings and my spendings and finally realize that my spending is higher than my earning. Remember, the only problem without solution is the unknown problem. Isn't it?

​

Since I can identify my weakling, I placed myself on budget by setting an attainable monthly goal for myself. Some of the goals I set for myself includes:

• The amount I will save for the month.

• Differentiating my needs and wants

• Going solely for my needs

• Going for original products

​

Now, let's peers into them one-by-one

​

• (1) Savings amount per month: There is this saying that it's only the unwise and foolish person that can start building without calculating what it will take. Yes, after calculating my monthly earnings, I set out a certain amount of money I must save in that very month. It helps in curtailing each month's expenses. How? Now listen, if my monthly earning is 20k, and I budgeted on saving 5k that month, this is what I will do. Instead of believing that my earning for that month is 20k, I will have in mind that it's 15k. So, all my expenses will focus only on that 15k. Hope it's clear now? Let's look into the second point.

​

• Differentiating between my needs and wants: My needs are the basic things I must have to keep alive while, wants are those things I can survive without and keep on thriving in life. For sure, before spending my money on any item, I do ask myself this two questions:

• Do you really need this?

• Can't you survive without it?.

Meditating over those questions has really helped me to minimize my expenditure.

​

• Going solely for my needs: It's easy to buy things we don't really need and at the end, we might end up dashing it out or wasting it. To avoid such, I have made it my priority to only buy or purchase things I can't do without. And the last point is my regulator.

​

• Going for original products: Here in Nigeria, one can easily buy imitation products thinking it's original base on packaging. Remember, we Nigerians can actually package things to look same with original. So, to avoid wasting my money on fake items, I do buy either from the producers or from shops selling foreign materials. I think it's better.

​

Having seen one of the rules I set for myself and goals surrounding it, let me tell you one other secret.

​

Financial prioritization: Am a full time business lady. If am not into this, am into that, from one business to another business. But never give consideration to what is sustainable. To live up to my financial rules and goals, I decided to check all my businesses to know what keeps money flowing and to stick to it. Actually, none of my businesses yields money and income more than hive does. Therefore, I made hive my number one business. To keep the money flowing, I have also speed up my consistency and engagement especially on #threads and in some communities.

​

The benefits

​

• I have made more friends

• Increase of income

• More free with people

• Keeps my brain active

• Gained more followers

• Popularity

• Increase in Rep

• Increase in HP

• More active on #threads

• And many more

​

My dear friends and blog readers, including you all my followers and those am following, setting your financial rules and goals are beneficial. You all have seen how I've benefitted. If you haven't set yours, please do. And never you forget to appreciate me for tipping this secret to you.

​

But, if you're married, please, don't keep your financial rules only to yourself. Discuss it with your mate. It will help him or her to understand the reason why you're limiting your expenses to avoid filing divorce paper against you when it's not your wish because of an idea I gave to you. Lolz.

​

Thanks for checking on my content. Byee.

​

​