Oh Lo Lo Buga won, But can we confidently buga right now?
No, I don’t think so. Because to get that muller (Money) right now, it’s a hard thing to do in this country.
People are complaining about bad governance, daily increase in food and energy, which are major factors in the development of people and the nation. The governments are playing deaf to the cry of its people.
If the governments won’t help, who would then?
I believe it’s left to the individual citizen to make a conscious effort to boost their financial status and make plan for their children.
Here I list the two problems majority of Nigerian faces in increasing their financial status
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How can i increase my Financial Stability?
There are four ways to do this.
Keep Track of your Financial Progress
If you’re genuinely interested in knowing how to improve your finances, the first step is to keep track of your present financial income and seek on how to improve.
Financial stability requires a thorough assessment of your current financial state. Take for instance, the start of a new year. A great step to evaluate your whole financial situation is to calculate your net worth. Review your balance sheet once or twice a year to keep tabs on your finances and help you adjust your financial goals for the next year.
Cut down your expenses
Yes, financial improvement requires sacrifices. What are the seemingly little things that a part of your income goes into? Review these habits and target ones that you can easily cut from your monthly budget
Budget and Plan
Regardless of your financial state, a detailed financial plan not only curbs impulse spending, but helps keep track of your finances: bills, in goings and outgoings. By the end of this process, you need to be able to see what money you have left over to save or invest.
Invest
If you work hard for your money, then, your money should work hard for you. Do you know that banks don’t pay you to keep your money with them? The onus however lies on you to put your money at work. This is where investing comes in. Investing is how you take charge of your financial security. It allows you to grow your wealth but also generate an additional income stream that secures you from financial crises and ensure financial stability.
Who can you trust to help improve your Financial Stability?
There are two ways you can go about this.
By finding the right investment yourself
This can be hard because trust is a virtue that’s so hard to find in the world we are at the moment. And to have a successful return of investment you need to be diligent in choosing the right company, which you can trust with your investment.
Hiring a Financial Planner
A financial planner is to your money what your primary care doctor is to your health. Your financial planner is the big- picture person, the one you talk to first about any financial issues. They can help you make a plan to pay off debt, save for your children college fees, or invest for retirement.
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