6 things every Nigerian must know about money come 2018

6 things every Nigerian must know about money come 2018

How do you plan to save money in 2018? According to the website, thebalance.com, here are some things you can to do to save money.

1. Write out your budget each month

Writing a spending plan each month is the first step in getting control of your finances. If you can write out your budget each month, it allows you to decide exactly how you want to spend your money.

2. Write down your expenses

You may want to physically write down each purchase you make in a notebook as writing it out makes you more aware of what you are doing.

If you have a smartphone, you should find a budgeting app that allows you to enter in each transaction as you make it. You can record it in both the account and the category so you can stick to your budget and recognise your budgeting weaknesses.

READ ALSO: Money grows on trees: how to make millions on cashew farming in Nigeria!

3. Stick to your budget

If you can stick to your budget, you will be able to reach your other financial goals. Find the habits you need to change to make this happen.

4. Reduce your debt

Make a specific goal on how much debt you want to get rid of this year depending on your income and the amount of debt you currently have.

5. Avoid more debt

Try to avoid more debt. If you can commit yourself to avoid borrowing money, then you can plan ahead for major purchases.

6. Save up an emergency fund

Create an emergency fund and save up based on your income regardless of the debt incurred.

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Meanwhile, the Economic and Financial Crimes Commission (EFCC) says the young man who blew the whistle on the massive stash of money recovered from an apartment in Ikoyi, Lagos, is now a millionaire.

The acting chairman of the commission, Ibrahim Magu, stated this in Vienna, Austria, on Thursday, November 9, the spokesman of the EFCC, Wilson Uwujaren, said in a statement.

Will N30million free money change your lifestyle? - on NAIJ.com TV.

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Source: Naija.ng

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