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HOW DO WE AVOID OVER SPENDING OUR MONEY.


Money management tip: How to avoid overspending your money.

There are different ways and the method you can use to avoid buying an unnecessary item just because you have the money.

We all love money. I haven’t met anyone that first like money. Have a lot of money asked us to feel good? We are able to buy the things we like, travel around the world. To some extent, money gives us POWER. In a country like Nigeria, when you have the money you can do anything and get away with anything no one would question you.

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The question is, 

HOW DO WE AVOID OVER SPENDING OUR MONEY.

Yes, you can. There are certain things you need to do to causation the way you spend your money. 

  • Have a budget: if you have a job or you are a business owner learn to have a budget. We all know that if you don’t keep A budget you won’t be able to track your expenses and you are likely to run out of money. For example, Mike earn 100 000 Naira monthly,  he spends 20 000 on house needs, 10 000 on clothing and 30 000 for an emergency. he saves them money for investment purposes. Now, this is a good way to keep track of your spending. Always have a monthly budget.
  • Do not buy anything you see. We know people visit a different type of website and on this website, a lot of companies advertise their products. Now it can be very tempting to want to buy this product. It’s left for you to stick to your budget so you don’t run out of money. A lot of people like to buy things they don’t need just to please people. This is a wing thing to do. Stop spending your money on unnecessary things. So your finances can improve
  • Do you know loneliness can make you spend money you didn’t plan to spend? When you have no one around you, no friend and family members around. You are more likely to want to go out more to visit places. This means you will be spending money every time just to make yourself feel good.
  • Stop shopping for fun! A lot of people shop just because they want to shop. Not because they really want to use the item.

In conclusion, I will say it’s very important to have a budget so avoid you from overspending your money and keep your budget on track.


 

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