*BUDGETING*
DEVELOP A
SUSTAINABLE BUDGET
One of the biggest issues people complain
about when it comes to their money is not
knowing how to save or budget. People
associate the word “budget” with scarcity or
a reduction in station of life. Therefore,
“budget” is a word they come to resent. The
reality is, a budget is something that tells you
how to allocate your resources and it should
reflect what you value. So if I looked at your
bank statement, would it reflect that you are
spending on the things you love or would it
be a reflection of the fact that you don't
spend intentionally and allow your money to
be pulled in different directions?
The reason most people live paycheque to
paycheque is because they don't have a full
understanding of what their income can
support. Money in the bank is equal to
spending. It doesn't matter whether you earn
ten thousand or ten million naira a month,
your resources are limited and consumption
tends to rise with income, so it's important to
have a spending plan that takes that into consideration.
