We set lofty goals on January 1st and we rarely follow up on them. As this Year January is coming to an end, some people are already feeling that they are wasting money. It just seems like a trip to a shopping mall can totally blow someone’s budget, you sometimes wonder why you even go there when you always leave with lots extra that you don’t need.
Anyway, in the spirit of trying to make 2014 as awesome as possible in terms of financial management, here are ideas that can help you not to waste money this New Year.
First and foremost, if you want to become rich, the surest way to do it isn’t through winning the lottery, football-bets, or through fraudulent ways. The best way to achieve financial independence is to manage your money carefully, invest wisely and let compound interest work in your favor.
Also, if you are like most people that squander money. You’re probably throwing away thousands or even millions of naira every year on impulse purchases and other money pits. And you’re going to regret it. You’ll regret it when it time for you to pay your rent or when you have to borrow money from your family or friends.
You may see it as nothing but it count, it’s part of the areas which you waste money whether it’s the N50 or N100 whatever, bottled water you buy at a convenience store or by the road side, whenever you’re thirsty and can’t be bothered to drink tap water or sachet water, or if you’re one of those people who drink bottled water at home, it’s not advisable. Most bottle water is a total waste of money, because majority of them sometime, tap water is better off because of the unhygienic environment where most of this water is produce, and if you must take them it should only be consumed on trips or when you are not at home. Expert advice you should get yourself a filter and enjoy purified water at a fraction of the cost.
Expert says, lottery is a “stupid person’s tax,” and for good reason: You are never, ever going to win. Yes, you. Stop it. Stop spending money daily or weekly on a piece of paper. Stop dreaming and take a course on basic statistics because that money will serve you much better in a savings account or you can invest it on any other profitable investment. Even if you do win, your poor math skills will probably land you among the many lottery tragedies
Also for smokers, Setting aside, for the moment, the real risk to your health posed by smoking, each pack can cost as much as N200. If you’re a light smoker, you’re probably still spending as much on cigarettes each month as you do on recharging your cell phone, and it’s not unheard of for heavy smokers to spend more on cigarettes each month than fueling a car or even groceries.
Not only are you spending money on a habit that is slowly killing you, but you can expect to pay even more money down the line on doctors, hospital visits and medications. Do yourself a favor and kick the habit.
By: TIAMIYU ADIO ISMAIL
