I welcome you to my blog. One thing I have come to realise is quite difficult to grow is our finances. You can have dreams of building and growing your finances, only for that dream to come crashing down right before your eyes. Finances are easily built with the mouth, but taking the actions needed to make it happen can be really difficult, and that is exactly what makes building finances very difficult because the actions and decisions needed to make it happen are not easy to make. Building your finances is not something you achieve overnight; you need to work on it little by little and compound it.
The mistake many people make is thinking that building and getting your financial life together happens overnight. Some people have that picture in their head where they build their finances to the level they want in just a few weeks or months, but it does not work like that. Like I have said earlier, anything that has to do with building your finances starts small; you go little by little, be consistent about it, make it a habit, and over time you will see how much you have grown and what you have achieved. With consistency, many people have been able to arrive at a point they felt was impossible to arrive at until they started.
There are many saving tips online and from people around you for you to follow and try building your finances, but the truth is that what works for A might not work for B. Sometime back, someone told me about joining a contribution, and that is how she was able to save up and buy the things she needed. I reluctantly joined because I don't trust people with my money like that, and funny enough, I joined and the people in it messed me up. I was contributing for everyone, and since I was the last to join, I was the last person to collect. When it got to my turn, everyone was reluctant to pay. That is how my own repayment started coming in bits and little by little, and it is no new news that once money starts coming that way, you tend to lose track of how you spent it.
You see, that contribution worked for her but did not work for me. For one reason or the other, what worked for A might end up pushing B into debt. To build your finances, you just have to find a method that works for you and work with it. For me, I am using two ways to save and invest at the same time. We all know that the needs we have are way more than our income, and that makes saving a piece of our income nearly impossible because even before the income comes in, you already have needs on the ground, but those that need urgent attention and those that don't, but they all must be attended to.
First of all, work with a budget, a very tight one, one you are willing to commit to. You know your income; take a percentage of your income and channel it towards taking care of needs and even wants, if any. If any need or want is not accommodated in that percentage, then it will have to wait for some other time. Then take another percentage of your income and channel it towards savings. I tried using one of my bank accounts for that; I found myself going back to it, so I started doing a fixed deposit. That way, once saved, I cannot go back to it. There are times when I divide the percentage meant for saving into two, send the other half to fixed deposit, and with the other half, I buy stocks.
Building your finances requires discipline. You must be able to commit no matter how hard and how tight it gets. Only a life-and-death situation should make you not to commit; aside from that, there are no excuses if you really want to grow your finances.
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