For a long time, my relationship with money was solely in the receiving and spending of it. Then, I became an adult and responsibilities came.
I moved to Lagos. I got my own apartment. I now had to pay rent. Then to get a place that I could afford, I had to live far away from the office – which meant paying more to transport myself to work.
And just like that, all the money that I typically had left overs from when I lived at home, was mostly used up before it even entered my account!
Wake. Up. Call.
Independence clearly comes with a hefty price tag! And so I joined the throng of workers around the world living for payday. Salivating, fiending for that credit alert at the end of each month. But that isn’t me. I hated that feeling of not being in control. It was time to make a few changes.
My first fix was to cut things drastically. I started with my addiction to junk food. If you know me, you’ll know that junk food and I are like
It was pretty painful to wean myself off it but it wasn’t enough for a complete turnaround. Eventually, I found what worked and I’m proud to say that these habits were what made all the difference.
Habit 1: I Made Savings a Priority
Instead of hoping to have some leftovers at the end of the month, it became “save first, spend later”. In fact, I let the money sit in my account for three extra days after receiving it before I touch, just in case I forget any important expense before spending it.
Habit 2: I Channeled My Inner “No”
If you know you cannot afford that trip, or party or whatever, say no. I can’t clearly state how much it’s given me in left over cash, but at least, I now have peace of mind. I cannot come and kill myself abeg.
Habit 3: I Now Live By A Budget
Going to a wedding? Budget it. Buying snacks? Budget it. “Doing” birthday? budget it. Buying petrol? budget it! Challenge yourself. The whole point of a budget is to make it tight and uneasy for the greater good but just like everything else, it gets better with time and forces you to think of ways to grow your money.
Habit 4: I Got A Roommate. (not really a habit but you get the point)
This was the best decision that I made before my rent was due last year. I saved 45% on my rent just by getting a friend who just started working nearby to live with me, share in the rent and other household costs. I used part of the money I saved to pay for a Udacity course. #greatness
How about you? What habits are preventing you from doing more with your money or simply having more money? Decrease your expenses like I did! If you want to see how you’re currently spending money so that you know what to repair, follow this link to download the REACH app. But! !t all starts with your mindset and your habits.
Think about it.
— B. from REACH