By Matata Mercy
One friend of mine told me that he has never had enough money since he started working. The sooner he gets money in his hands, the faster it disappears.
He is basically living paycheck to paycheck with nothing left in his bank.
He is always stressed as a result of his financial situation and always in debt.
He one time asked me whether it is possible for someone to have enough money for him not to work again or even be stressed about finances again.
According to him, his monthly bills are a headache to him. Paying rent, water bills, electricity, buying food and transportation, medical bills, and retirement fund, all leave him with an empty pocket.
I know for sure that it is not only my friend who is suffering but there are many people out there who are going through the same scenario.
Some are earning six figure salaries but they can barely save even a penny.
Today i would like to share with you a few tips that can help you get out of the money trap that is living from paycheck to paycheck.
One thing that you should consider to do is to find out things that you really need in order to be alive. Am talking food, shelter, clothing and medical care.
These are things you should budget your money for. Do away with entertainment, outings and other unnecessary travel expenses. Don't pay your television bills, they are not a necessity for you.
When you do this you will realize that you will be left with some money as savings. Put that money in a bank account that you cannot access easily. Keep putting money in that bank account for atleast a year.
You will realize that you will be accumulating some money in your account as the months progress.
Make sure you do not touch that money. Then finally look for an investment that you can put the money in.
Watch as your investment grows each year. The idea i can give you that you should remember is to always spend less than you earn.
Save money every month atleast 10 percent of your income and invest that money properly. Good luck.
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