Everything you need to know about Savings.

Hello,

    Am back again, in my last blog I told you how very important saving is, so now I will tell you various ways to save your money without it being a problem to you at all.Saving may not be as fun as spending but it doesn't need to be difficult. All it takes is a bit of planning and some self-discipline – and you’re on your way to achieving your goals.

Firstly, you have to make a budget for your self, know the amount of money you get at the end of every month and try to set aside a specific amount as your savings. In other to do this very well you have to know the amount of money you can spend in a month. Then you have to set up a goal for yourself working with a particular period of time, that is, what you really want to achieve within a period of time, it could be short term or long term just make sure your plans are best suited to you and your peculiar situation.

Secondly if you are a big time spender you have to try and cut down on your expenses, buy only things that are necessary and very important to you. I have this mantra "whatever I spend my money on has to be worth it", so I think very well before I spend my money on anything. This means, that you will have to forgo some pleasure.

Thirdly Set out a saving plan, that is were exactly and how you would love to save your money. Money can be save in many ways,for those who are scared of banks, you can do self saving, (which was the practice back in the days) with the means of a piggy bank or tins or private corner that you can hardly get access to easily.

I am sure each one of us can relate to having piggy banks in our earlier years, from money gifts given to us by our uncles and Aunties.

 When you save money in thing like this you would find it difficult to want to take the money from it to spend, because by the time you think of the trouble you have to go through to break them, you won't want to waste you time on it. 

But using piggy banks means you will be limited as to the amount of money you can save. So its not really advisable for  grownups.   

After saving in a device like this, wen you know that you have saved enough money you need, then you would have to break it to retrieve your money.

Another way to save is to give the money to either a trusted friend or to your mum or anyone who you trust that can keep the money for you and not spend it. Such people will never give you the money until you actually need it. This method of saving works well for people who are not very disciplined. Such people even when they keep the money in the bank will find a way to go and withdraw it at the slightest opportunity.

For me the best means of saving is by opening two accounts, one would be for your saving and the other for your expenditures. And both accounts should  be opened in two different  banks to prevent you from having easy access to them. And again it should be a well recognize bank to avoid problems.  

Also try to make sure you savings account does not have an ATM card which would           make it more difficult to go withdraw anytime you like.                                                                  

Note this, a person mind set controls every activities he or she does in life, so therefore your mind set towards money determine how well you can save. In other to effectively develop a saving culture you have to change your mind set about money and value it. Because when you value money you will spend it wisely. Every rich man in live save money and draws up a budget and keeps record of every penny spent, and also spends wisely and that is why they are who they are today.  You can never be rich if you don’t learn how to save.                              

Here is a secret on how to control your savings, when you have opened a saving account for yourself try and remove your mind from the existence of that account and make do with your expenditure account and try as much as possible to keep to your monthly budget so you will not be tempted to have recourse to your savings.             

This are some tips you can follow in saving your money and if you have any comment, contribution and questions please fill free to add and ask thanks.  

                              

How to make good use of your limited resources

Hello,

 This is my story a very interesting one, one full with many lessons most especially to teach youth how to survive in a very expensive town like Abuja. As a corper you have to know one thing which is to save up, because the end of service is the beginning of your life as an individual and so you have to plan for the end by saving up, It is normal in our country that every youth who is a full gradate is fully in charge of his or herself and should take full responsibility of themselves unless the person is from a very rich home and the parent are still willing to carry them along as a burden but trust me even at that it’s still very good to save because you can never tell what goanna happen tomorrow. We all know that here in Nigerian there is totally nothing we can do without money that more reason why we have to save up during our youth service year to enable us survive for the few days or months we would use to look for job because definitely nobody will want to give you money again only by Gods grace. So therefore it is for this reason I set up this blog, Here it goes...........................................

   Started my camping for NYSC on the 6th of March 2013, at Abuja Kubwa camp. Came to Abuja for the first time in my life and also the first time for me to live my family, though it was very strange and hard under the fact that I don't even know anybody down here, but trust me as a warri brought up I had to adapted and I did that very fast. Anyway Abuja camp was the best place to be, it was full with lot of fun and lot of nice people, yeah the drilling what can I say about that, anyway though annoying but it was still cool. Now this is where the real world started for me, camp ended just too fast for me, just as I got my posting letter and stepped my legs outside the gate of camp the I said a big Hello to the real world. I was about to go into town, then I realize that I could not move with bike or taxi only cabs that would have to charge you at a very high rate, at that time I realized that menn I was no longer in delta state again oh hmm. Anyway that by the way. Since I had no body in Abuja I had to associate with the Catholic coppers association in camp to enable me stay in their lodge. So as soon as I got settled, got accepted in my primary place of assignment which was quite stressful, and then I sat down to think of how my life would be throughout my stay in Abuja. First I thought of how much I will miss my mum, because I know very well how long it will take me to go home again. Then also I thought of how to get an apartment for myself because the lodge was  not quite my kind of place and I also thought of how expensive the houses are in Abuja and I said to myself it won’t be that easy oh house have to wait. I also thought of how I will survive in this very expensive town with no body sending me money again like when I was in school. Then I prayed to God asking him for his Marcy and help.  

     Then at that moment something came to my mind which was the world "Plan" hmm that's a very big world u know, without that word you can't do anything, then I got up took a piece of paper and a pen n I wrote out how much I would earn in a month and how much I would spend and how much I would love to save. 

After everything I figured out that if I should just focus on my transport fare and feeding and forget about other side attraction like cloths,outing and so on I will save up much. I know you will ask why wont I go out? yeah the thing is that am a girl so if am suppose to go out with anybody the person will take care of the bill that why am a girl. anyway the bottom line is that with God, I have served for five months now and I live well, eat well and I still have money in my account that can help me live a good live and am very sure by the end of my service year I would have enough to either start up a business or last me till I find a job by Gods grace.

  In other word saving is very good not only in the live of a copper but also in every individual live in other for you to prepare for tomorrow. Just imagine a girl who has a car, have all the latest phones and cloths but has no account to call her own, even if u have all that it’s still very good to have something in your account at list equivalent to the property you have in case of anything u know u can replace them. Then that what you call wealth. So please it is very important to save.Take this as a step and follow up, if we can plan our life very well then i think we would be able to drive away poverty from our country because we would learn to make do with what we have instead of trying to live life like other and not like you are.