3 Easy Tricks To Help You Save More

3 Easy Tricks To Help You Save More

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Most people living from paycheck to paycheck constantly encounter money glitches.

Once salary comes in, it goes into several things all at once. Bills and expenses lie in wait while savings are constantly on zero. Sometimes, you even spend the salary before it actually hits the account (i.e. buying things on credit to be paid off once salary comes).

What happens if that paycheck is suddenly delayed or you lose your job?

Of course, your finances will hit rock bottom in the blink of an eye! It is a huge financial disaster when an unexpected loss of income occurs and there isn’t enough money left.

In this article, we will show you 3 easy ways you can start saving today.

Do away with unhealthy habits

Some habits perpetually rub you off a lot of bucks that could have gone into savings and to think that most of these habits are actually unhealthy.

For example smoking, excessive alcohol intake, sweet tooth, driving three blocks to pick up something you could have just walked to get. Bet most people who have cars are guilty of the 4th example.  Why not walk instead? You will save money (fuel, wear-and-tear) and get a little exercise as well. Yes, we all have guilty pleasures, but cutting back on them can save you a lot of money. If you cannot get rid of them at least keep them to the minimum.

Reward Yourself

Once you receive your paycheck, shell out something for yourself first before taking care of bills and other expenses.

Not very many people do this, but it actually works. For example – If you earn 200,000 monthly, and you pay yourself 10 percent of this amount every month which is 20,000. At the end of the year, you will have a savings of 240,000. It might look like a waste of time because it is small, but in the end, you will be glad you actually did it.

There is no rule that states that you must pay yourself 10 percent. Feel free to adjust this as you see fit and also according to your income. If you have other sources of income asides from your salary, you can also apply this strategy to it.

Automate Your Savings

Open up a savings account with an automatic transfer. Every bank operates this system in Nigeria.  This is more like placing an instruction on your bank account to automatically move a certain amount of money to another account on a certain day/date continuously for a period of time.

Automating your savings enables you to send money to your savings account without having to touch it. You know, out of sight they say is out of mind. You will be less likely to spend it if it is out of your reach.

As soon as you start, never deviate from it. Once you miss one payment, chances are high that you will miss another. This could go on and on and you may end up without any savings at all.

Spend With Purpose

Be conscious of your spending and manage your expenses well. If your lifestyle makes you spend blindly, change it or adjust it to match your budget. Never live above your means.

Create a monthly budget that covers all your necessary expenses and stick to it.

Start saving NOW!

7 THINGS EVERY FRESH GRADUATE SHOULD KEEP IN MIND

7 THINGS EVERY FRESH GRADUATE SHOULD KEEP IN MIND

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Fresh in the job market?

You are probably wondering what life in the job market looks like and confused about how to get started.

The job market is deeply saturated and if you don’t arm yourself with the necessary tools you will remain on the bench longer than you can imagine.

Before you launch out your job search, here are few things you should know:

Getting a job through existing connections only is not definitive

No doubt you have heard the popular notion that you cannot get a good job without connections. While this may seem true, a lot of people are getting employed daily based on their competence. You too can be one of them!

Shake off of this belief, be optimistic and focus on making yourself employable.

The competition is fierce

Your degree is not enough to land the job. There is serious competition out there! Therefore, you must make yourself stand out by acquiring the necessary 21st-century workplace skills.

Learn how to use Microsoft Office Tools such as Word, PowerPoint, Excel, Corel Draw, etc. Learn how to type with considerable speed and improve your communication skills (verbal and written).

Experience is advantageous

“I just graduated.”

That’s not an excuse! Do not wait until you can get a six-digits paying job. While you are still looking out for better opportunities, start building your experience by taking on small pay jobs, volunteering in organizations or NGOs, working as an intern, etc. Time is essential, so don’t just stay idle waiting for a big job.

 

Know your industry

What was your course of study? What career path do you want to take? Have these clearly defined and don’t be in a hurry to take just any job. Be specific on the industry you want to work in, learn the relevant skills and requirements needed.

Networking is key

The more people you talk to people about job opportunities, the higher your chances of getting a job. Let your friends, significant others, church members, and relations know you are job hunting. They will have you in mind whenever an opportunity comes up. Send copies of your CV to people you feel could be of help.

Social media can hurt your chances of getting hired

Some employers run a background check on their prospective employees to get a sense of their social life before deciding whether to hire them or not. Keep your social media posts and pictures as decent and professional as possible. Use your accounts as a tool for job search. Set up a professional LinkedIn profile if you do not have one already and ensure potential employers can get a feel of the professional you.

Learning is continuous

The largest room in the world is the room for improvement. Don’t discard your learning materials and never stop learning/getting better at your craft just because you have graduated. Look up courses in your area of interest whether free or paid. Show these courses in your CV as these will tell any potential employer that you are teachable and are willing to work.

Bonus point: Your career path and those of your friends are different. Do not make comparisons.