When we were new born babies we did not even know what money is leave alone knowing of its existence.At around 5-7 years we were given shs 2 for offerings in church and we were so happy because at least we will buy some sweets since that was just enough for us (in fact at some point we did not bother asking for more since it was enough).Now as time went by at around class 3,4,5 that 2 shs wasn’t enough yet our parents thought it was ,now instead of taking a mat we walked home and buy sweets with the same money just after alighting (was that being foolish or wasting money?).If we took a mat home,could we be in a position to buy sweets? Now we are teenagers,we have peer pressure,we want to look like some celebrities and politicians, we want to be fashionistas and financialistas,we want to have fun with friends and travel the world,we have responsibilities at home,we have opened some small business and now we are undergoing loss and almost to the point of liquidation.We know what money is and its uses (who does not know that really) but we lack the skills to managing our finances and that is where the phrase ‘i don’t have enough money’ comes from.
When is money enough for us?How desperate do we look when the cash at hand is not enough for the desired purpose?Think positively about your finances,and the money will just be enough for you.
How do we think positively about our finances?
If you have never planned for your money this is the right time-Just as we could forego taking a mat or eating lunch just to buy a sweet later on.How much do you expect to have or get ,what are your needs ,will the expected money be enough?That way,you will be avoiding making miserable faces when money is not enough.
From the first paragraph,we find that we are in a transition of growth,not only in our bodies but in terms of understanding our finances,our financial needs and therefore we will never have ‘enough money’ as time progresses.The needs increases,responsibilities increases and our desires increases too.
Cultivate the culture of planning for your money,budgeting,saving and investing,that way money will always be enough.How?
Once you know how much money you expect or want,plan for it by allocating every need and want with their respective price ,then budget for example when do i expect the money and how soon do i need that shoes pr trouser,camera etc?Your budget will help you know whether you are supposed to be saving for something or you need a long-term investment for you to meet your objectives.