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Buharinizing Your Finances: Buharinizing Your Finances : Nigerialog.com - Nigeria's Premier Online Forum

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Buharinizing Your Finances

By: naijarian (F) |Time : September 03, 2016, 10:03:17 PM
Talking about money has become something we fear and something that sends shivers down our spine especially when we know that we are not being careful with our money.
The economy is bad and recession may set in and this has left a lot of people walking at the brink of bankruptcy and impoverishment.
 People have started to learn how not to spend their hard earned money carelessly and how to make what they actually earn work for them for longer than it usually does.

Personal finance is something that people have come to appreciate in the present state of this economy. It has brought people to start working on ways at which their personal income will be just about right for the kind of life they have to live and not the kind of life they dream to live or as the case maybe; had been living.

People are now turning to non-fiction books on money and budgeting to make up for what they do not know. Frustration sets in when lessons learnt from books become difficult to inculcate into real life scenarios.

In all fairness, many had started out well only to get stuck at the end and find themselves back at the mercy of their spending culture. A spendthrift will find it quite difficult to adjust regardless of how much he has spent on 'get rich' books.

 There are a few things that people are doing to make matters worse, which when critically viewed, is very avoidable. These small issues that we think nothing of but are a contributing to their poverty state..

These issues include but are not limited to the following:

1) A non-achievable goal or plan: A plan is that thing that is carefully laid out to make matters that are to happen in the future easier to achieve. It is good to be sure of what you want to do and how you want to get it done. It is always good to have something written down in black and white which in turn will serve as a reminder each time you come across same. It allows for exact insight into what is to be done and when or how to do it. Your plan might include saving up for your child's education or buying a house or even going on holiday. This will make give you concrete plans that you can easily achieve.

2) Work on that self-esteem: Sufficiency is something that we find hard to get in tune with when we reach a certain age or when we find ourselves in a certain crowd. This is something that dampens our self-esteem.. Even though it is a known fact that happiness is something that can not be bought, we still find ourselves clinging to and calculating how much it will cost to do something that will make us happy. We go out of our ways to invest in something quite unnecessary just to get ourselves into being liked. Owning something very nice is good but only when you can afford it without having to suffer to get it or at the expense of other important things. It might cause confusion to your plan and might make you derail from getting anything done as at when needed.

3) Be self reliant: Getting credit is a good thing when you can afford to pay back before it turns into a problem. Loans are something that does not work for everyone. If you are that kind of person that can not afford to be indebted to someone, steer clear of easy money. Some might think it does not really matter when the credit can be used to solve immediate problems. But what is the essence of solving a small problem with something that can pose a bigger problem in the future. If you already owe someone, drop everything else and pay back before the money accumulates into something that will turn into a monster to haunt you in your dreams.

All what had been written are just a matter of opinion. There are a million and one ways of spending within your means in this 'change' era. Do things accordingly and make the kind of plans that will be easy for you to achieve.

Cheers.
xoxo

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