You’ve not seen this if you’re still broke


It is unbelievable that year after year  some folks are miles deep in debt. Agreed, after so much work and hustle, ‘one needs to chop life small’ as ‘body nor be firewood’. That mindset is the reason why a lot of people are in so much debt that it will take only a miracle for them to climb out of the cesspool of lack and even if they do, it’ll most probably take them a lifetime. I’m sure you don’t want to be broke this year or in any other year and that’s probably why you clicked this article.

Sadly, all those who were broke last year, had noble plans of escaping the hassles of brokelyn city  this year. See, it takes more than noble intentions to avoid living from paycheck to paycheck, month after month (that is even if you have a paycheck to look forward to).
Here are practical tips to help you avoid begging from one person to the other and hopefully live in financial freedom.

1) Don’t Ignore The Basics:
Every profession has their basic creed, a manifesto that guides the growth of the professionals in that sector. It is the same with avoiding being broke. Funny enough, a lot of us can give lectures and seminar papers on these
However, where most of us get caught napping is in execution. You can’t afford to live carelessly and hope to see major changes, you just can’t. With inflation rate nearing 12%, chances are that what you could easily pay for in previously may become a tad difficult now. See fuel prices rising, electricity tariffs going off? Exactly
This is a given with policies affecting importation, proposed increase in Value Added Tax and other macro economic factors. So what are the basics you ask?
a) Budgeting : To avoid being broke, you have to say bye bye to unplanned spending. You must not give in to peer pressure or that overwhelming feeling of wanting to show that you’ve arrived. Leave that to the Jones and focus on preserving and judiciously managing your earned income.
b)  Saving To Invest : Notice I didn’t just mention saving alone? This is because saving alone can not get the job done. Remember what I shared earlier about inflationary trend, that alone will most likely wipe off 40% or more of your earned income. Hence you must fortify your saving strategy with credible investment efforts. I’ll share more on investment in a subsequent article but know this: In life, savings alone can not get the job done.
2) Increase Your Earning Quotient :
What makes certain people live way above the poverty line is not their primary earning stream or source of income. A detailed check will reveal that some of these folks (inset the name of your favorite billionaire) have built varied earning capabilities such that they profit from them handsomely.

Obviously you can’t go about this in a day or even a week but a good place to start from is for you to have a consciousness that you can earn more than you’re currently earning. The next most important problem to solve is
how you’ll go about improving your earning abilities. One of the go-to strategies is to focus on learning a new skill with increased possibilities of earning you more income. Notice I didn’t say just learn a new skill, NO.
Some folks have paid significant sums to learn skills that are irrelevant or that do not create significant earning possibilities for them. You definitely don’t want that to be you right? Well, stay sharp and keep your eyes open for opportunities to increase your earnings, you can be sure they’ll come around.
Let’s have you focus on these angles first and see how things play out. All the best!

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