Everyday, we spend money. Everyday our expenses grow. In the Nigeria of Today, the saving culture is something that everyone needs to learn, simply to survive the Harsh Economic climate we have found ourselves.
So, with the steady rise in the prices of goods and services, one is tempted too ask; what can i do to reduce my expenses and save money.
You are not alone in this, even the richest among us try to economize where possible. Since money does not grow on trees.
Here, we will discuss the few things one can do to Reduce Expenses And Save Money.
To reach financial independence, their are things you should do. To have financial freedom, one needs to reduce the gap between expenses and income. You can either increase your income or simply reuce your spending i.e Expenditure. Now, experience has shown that its easier to reduce your expenditure than increase your income, as the latter is determined by your boss or company.
Because most times you have control on your expenditure, it is easier to reduce your expenses in an attempt to increase your Financial Status. This is readily done by saving.
Analyse your personal financial situation. Truly, you are overwhelmed with a lot of things to solve. But lets really face the truth. Do you really need all that? surely there are things you can do without.
when you prioritize your expenses, you will realize that there are things you can do without.
First, your Basic needs should come first. Other things you need for your day to day living should follow. Such things include Electricity bills, water bills and security bills. Following directly from your needs, prioritize other needs.
Once you have prioritized your expenses, you will realize there are places you were overspending on. When you realize this, don’t be sad; we all have been there.
Therefore, make those points, your Saving Opportunity.