Basic Financial skills You need
“Never spend your money before you have it.” –Thomas Jefferson
Depending on how your parents managed or even talked bout money while you were growing up, many of us have anxiety when it comes to managing our money. We always worry about whether we are making the right choices or not, shall we be able to attain a certain lifestyle we desire, do we make enough to provide for the basic needs of our families or loved ones, shall we be able to take care of our ageing parents. All these fears and anxieties lead us into depression and may cripple us from taking any further steps to better our current circumstances.
However, this shouldn’t be the case. A journey of a thousand miles begins with one step, one foot in front of the other, we too can take those simple steps leading towards financially fulfilled lives.
Here are some skills we all need if we are going to attain financial peace.
Create a budget.: This is simply a spending plan showing how you allocate your money to the different categories. This helps you know where your money went instead of always wondering where it went.
Set money aside for the long term every month: “People overestimate what they can do in one year and underestimate what they can do in 10 years.” Bill gates. This is so true, many times we don’t have long range goals, this is because we are afraid to imagine what life will look like 10 years from, we are uncertain of the future so we don’t prepare for it, we let it creep up on us unprepared. Choose to have faith that you will make it to your 80th or 90th even 100th birthday. Prepare for that time when you can’t work anymore.
Paying your bills on time: It may should like a cliché but you will be amazed at how many times you forgot to make a payment or how many times a payment you were aware of creeped up on you. Choose to live an intentional life today. Put money aside every month for due payments.
Lastly be wise with your investments (more about this in a future post). Don’t let the scammers rob you of your hard earned money. Investments take this to grow.
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