Do you know that saving is a powerful tool that ensures you land on the shores of an unending breakthrough? Considering saving consistently any currency of your choice, let say a thousand naira a day for 365 or 366 days. You will be amazed that it would amass to 365 thousand at the end of the year. That is enough to live in a self contain apartment in Lagos(agent fee and other fees excluded), the amount can also be suitable to start that small scale enterprise you have always desired. What about saving 2000 naira consistently daily for a year? Such an individual would have a whooping sum of 730 thousand naira at the end of the year. This sum is ideal to start doing something notable in life. In these harsh economic times that is affecting most countries especially my country Nigeria ,you will find out that many people don't save that little dime that will make great difference in their lives at the end. They end up eating up every single dime of their monthly salary and finally resort to begging in order to make ends meet. But mind you, a person in the web of debt, is always a friend to embarrassment. That is why it is of utmost importance that one should save.
What is even saving by the way ? saving means your consistently keeping a tiny portion from the bulk of your earning for a rainy day. This method or principle has saved a lot of people from the embarrassment of debt and I am sure it will be of great help if you apply judiciously these four basic guides I am about to share.
For you to efficiently manage your resources through the art of saving in these austere times (especially this time of economic recession in Nigeria), there are five do's you need to apply to be above debt. Failing in any of these, makes you incapable of saving or managing your resources.
The four do's are
(1) For you to be efficient in the art of saving you must disciplined: What I mean here is that you need to have self control not to touch any of the money you have saved for the rainy day as it piles up. Not being disciplined in this regard is like a farmer who eats up his seedlings before the planting season. When you eventually spend or eat up what you have saved for days or months, you will end up begging in the streets when there is nothing for you to fall back on. Even when the temptation comes, show some restraint it helps.
(2) You must be committed: For you to efficiently save, you must be committed to that tiny or huge drop of money you put in daily or monthly.
In saving, procrastination which is the thief of time, is not tolerated for without consistency and commitment your saved money will never grow into a pile. It takes both discipline ( a factor which I have mentioned earlier) and commitment to efficiently save your money.
(3) You must be focused: For you efficiently save, you must have a vision or a foresight of the level you want your pile of wealth to reach and you must earnestly suppress any obstacle that will blur your focus or vision. These obstacles might be lack of discipline and procrastination .
(4) You must be wise and experienced to invest your savings into profitable business ventures: This is very essential in increasing the pile of your saved resources to an admirable level because multiple streams of income is achieved.
Like a said earlier in my previous post, one cant achieve and maintain huge sustainable income without multiple streams of income flowing daily into his or her pocket. The era of being comfortable with only a stream of income is now old and obsolete. Those partaking in only one stream of income as "Just over broke". This is because when that only source of income is no more, the person goes out to beg and most of the time gets embarrassed by men.
Before investing in any venture, make sure you are experienced in the business and ensure that business stands the test of time. Business built on porous or shaky foundation collapses with a great thud leaving its owners to wallow in the sea of despair.
Always make sure that you are an efficient manager of your resources it pays.
No comments:
Post a Comment