PERSONAL FINANCE CHALLENGE

Do you desire to turn your financial life around? No matter where you are on your financial journey, it is possible to make this change happen. The first step in the right direction might be the hardest but it will surely get things moving in your favour.

This is why we have created a weekly challenge to help you start saving money today. These suggestions are a conscious attempt at helping you to be frugal in your spending.

Here’s what you can do to start reducing what you spend gradually:

•Review how much you earn, deduct the debts how much are you really worth this week?

•Track your expenditure with physical receipts from supermarkets, restaurants, hospital etc. to know how much you can save over a week

•Is there more in your closet than in your bank account? Do an audit and label unutilized items as “donate”, “sell” or “thrash”

•Save up the money you collect as ‘change’ in a jar or bag for a week see how much it adds up to.

•For each day set aside N250 which comes to N1750 at the end of the week and continue for the next couple of weeks.

•Set up a new savings account and initiate a daily automated transfer to the account and do not apply for any debit card.

Take part in any or all of our weekly personal finance challenge, see how you fare and thank us later. Remember that every little step goes a long way.

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