GROWING FINANCIALLY: A JOURNEY OF DISCIPLINE AND GROWTH

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Managing my income is one thing I once found very hard to do. It didn't come naturally to me like most people. Infact, I used to be that type of a person who would spend every dime on unnecessary things I did not really need. But all that changed a few years back when I was in a financial crisis. It was almost impossible to recover. I found myself drowning in debts, and no money was forthcoming at that time. It was the most difficult time for me. I came to the realization that something had to change. You know sometimes, circumstances and experience forces one to sit up and that's exactly what happened . Now, what started as a solution is now an everyday lifestyle of deliberate spending and saving.

THE TURNING POINT

It all started one fateful day. My phone suddenly got spoiled. I took it to the phone repair but they advised me to get a new one as fixing it would cost a lot and there was no guarantee of it working. I checked my account balance, just thirty three naira. I had no emergency funds, no savings, and no money at that time to hold my body. And to top it all I was drowning in debts. I was beyond frustrated. I couldn't afford little things for myself any longer. And my source of making money, which was my phone at that time, was spoiled. That was my turning point. I promised myself that I would learn how to manage my income better henceforth.

TRACKING EVERY PENNY

I first of all started by tracking and monitoring the things I spent money on. I took out a notebook and recorded everything I spent money on from transportation, airtime, food and snacks, clothes etc. I wrote them all down. I discovered that I spent so much money buying clothes I didn't really need. Also, I realized that I spent too much on food.and snacks.

This was really an eye opener for me. By tracking my income I could see clearly where all my money was going and how I was being very wasteful. It gave me the power to redirect.

CREATING A BUDGET

I moved into budgeting. I created a budget that was achievable and realistic. One that allowed me to save a little while still enjoying myself. I made sure to subtract a certain amount from my income first and put it into my savings before spending on any other things.

HAVING CLEAR GOALS.

Setting goals that were clear and direct pushed me forward everyday. It kept me going everyday. This is because I knew what I wanted. I wanted to have a savings account filled with money such that I would never have to be financially dependent on anybody. I wanted to have an emergency fund account also in case of any emergency. I didn't want to be caught up in life any longer. All these goals helped me stay consistent on days when I felt like spending unnecessary time.

SAYING NO

This was the hard part. I learnt to say no to myself, to trends that would easily fade and pass, to subscriptions I didn't even use and to going out every weekend. I denied myself some certain things I liked and wanted but didn't need. Oftentimes, I would remind myself that I was sacrificing for the greater good.

MULTIPLE SOURCE OF INCOME

To reduce the pressure, I sort out other ways I could earn money. I learned some new skills, started a jewelry business, started ghostwriting, proofreading etc.

ME TODAY

Right now, I have an emergency fund, a savings account I am still building up, a budget that I work with and I still live a simple life. Managing my income and finances has not only given me happiness but also peace of mind, confidence about the future and freedom from debts.