How do you do it?

How do you do it?

Do what exactly?

I mean how do you manage with this little income and still appear looking rich and handsome?

Ohh thats what self-discipline has helped me achieve all my life, I can manage no matter how little and still look like am so rich.

That's was the conversation I heard with a friend dew days ago, he thought I earn a whole lot of money, he was surprised to hear that he earns more than me and he always loaning money from me, I had to sit him down, help him understand that he needs to work on his financial life as we are approaching a new year.

My personal way of managing income.

I will appluad my beloved mother who thought me from infancy how to manage my income no matter how small or big it is, she always warned me to keep aside some funds for rainy days and till date I have used those strategy and it has been working perfectly.

spend based on your earnings.(Budgeting)

My earnings drops in once at the end of thirty days, and all expenses and savings is just on that one time earning so I have to be careful.

A few things that are necessary is my transportation fee for the month, money for water for the month and food for the month.

One thing my mother thought me is buying things in bulk and buying it where they are sold for lesser amounts.
In any city I reside I will always search for market where things are sold on whole sale prices, then I will buy from their, I will make sure I use those stuff till the end of next month.

Self-discipline has helped me to avoid impulse buying, I don't just buy things because I think they are good or I think I may need them later I only buy things that are necessary for my daily living.
Any money I set aside as savings I try as much as I can not to spend it unless there is an emergency and lately I started saving on a separate account for emergency, no matter how small I make sure I set something aside at the end of the month and I try to be consistent.

Another important thing I do to manage my income is that I try to avoid waste, no matter how little you waste things, if it continues it will result to a big financial loss so I don't prepare food that the family can not finish, I try not to waste other stuffs like soap and water.

Conclusively the major three things I do to manage my income is Budgeting, Spending wisely and saving consistently no matter how small then I will always track my income, if it increases by any chance I will also increase my savings and my expenses to allow me have fun in life.

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