I’m a lover of books, particularly motivational books or what I can also call inspirational books. However, The Smart Money Woman is one of the few books I totally fell in love with in 2017, My love for the book is certainly not about the story alone but for every lesson I learnt from the book. I’ve decided to share some of the lessons I learnt from the book and i trust that you will definitely agree with me that the book is the real MVP!(my love for the word ‘’mvp’’ lately though is what I still don’t understand, *hugh*, please scrap that)...
As i was saying sweeties, the year 2018 is here already, obviously, and like someone said lately, the year is winding up already, lol, sounds funny right? The earlier we realise that truth the better for us! I know a large percent of us have goals set for the year, things we really want to achieve, things we are looking up to God for, awesome! But, do you care about your financial state? Did you set goals for your finances? How did you spend money last year? Did you spend as much as you earned or less than you earned? Did you have an account to save some percent of your earnings?
Sweetie, you might not necessarily have answers to all those questions? It’s not too late to make wrongs right you know? So, below are some tips which are excerpts from ``The Smart Money Woman’’...Believe me, nobody is “there’’ yet, there are situations that sometimes go beyond our control but the good thing is, we can overcome them and can be better than who we used to be when it comes to Money Matters.
Enjoy your reading...
• Deal With Your Mindset: Some of us have this mindset that it’s until we have some huge amount of money in our bank accounts that saving will be easy, that’s not a very good mindset. If you want to be better when it comes to your finances, set your heart and mind on this fact: “I can save, no matter my income and no matter how old or young I am’’. Develop a wealthy mindset which requires the concept that the way you spend, invest and manage ten naira is the way you will spend, invest and manage ten million naira.
• Deal With Your Money Fears: Hugh!!! I can relate with this! So many of us have this fear at heart that, we will soon run out of money, we have this fear of how wewill have enough to measure up to the lifestyle of friends and family.This should be dealt with. The truth is we all have some fears we deal with at some point of our lives, but the difference between successful people, or champions and losers is that the champions acknowledge their fears but don’t let fear overcome them or stop them from achieving their goals.
• Track Your Spending: You must be able to account for every amount that leaves your account. Map out the things you spend money on, be it food, transportation, clothing, recharge cards, data subscriptions, shoes, and all. Be in charge of your money, be in control of your money and not otherwise.
• Divide Your Money Into 3 Basic Parts: Some of us have this complex view about budget. You necessarily don’t have to write down in excel spreadsheets and all.
Allocate 70% to your lifestyle or living expenses; such as, transportation, food, and everything that has to do with your survival.
Allocate 20% to long-term financial goals: This could include your future investments, buying assets, landed property. It’s a minimum set aside to improve your net worth.
Allocate 10% to short-term financial goals : This would include treats you would love to give yourself, e.g. getting a anew shoe, or a designer bag, or whatever tickles your fancy.
• Your Network is Your Net Worth: Indeed! This cannot be over-emphasised. In Arese’s words, ‘’having an extensive network allows you to maximise your potential’’. Leverage on connections and relationships. Instead of talking always about yourself, ask questions about other people, find out what they do, you never can tell, it could just be a step to your next level. Grow your network, attend conferences, you could also have a financial coach or accountability partner.
With these few points of mine(lol),...Jokes apart, I believe someone has gained few things from these few lessons shared with us. Like I said earlier, we all have some fears we are dealing with at some point in time, but what makes the difference is how we are able to acknowledge those fears and overcome them.
Remember, Beat the Fear and Dare to Act, so in this course, beat the money fears and be a Champion!
Thanks for reading lovelies!
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