Good money habits

Human beings are creatures of habit and as such we are what we repeatedly do.

Your bank balance is a direct reflection of your money habits. The only way to increase your bank balance is to improve your habits with money.

The following are some of the money habits you need to develop to improve your finances.

1. Stop being mentally and physically LAZY with money. I realized that I had been too lazy with my money and had to change my ways. Learn to THINK and work on your ideas, goals and dreams with FAITH and PERSISTENCE.

2. Set financial goals. Become a practical dreamer and set financial goals. How much money do you want in your bank account by end of 2019? Without goals you can’t really achieve anything in life.

3. Have a positive mindset. Ideas are nourished in a positive mindset just like seeds sprout in fertile soils. Avoid negative vibes from TV, radio, social media, friends, and family.

4. Become financially literate. There are a million resources online. Being broke and financially illiterate is a CHOICE.

5. Spend less than you earn. This is so obvious but the majority of people don’t do it. Some things are hard to explain.

6. Save at least 10% of your income. Do this consistently and your wallet will fatten with gold coins.

7. Start budgeting. A budget is a vision for your finances and without a vision my people perish.

8. Prudently invest your savings. Your savings now become your capital which you should prudently invest. Avoid get rich quick schemes.

9. Pay off your debts. A borrower is slave to the lender. Debts entrap you and slow down your progress towards financial freedom.

10. Track you expenditure. Use a simple notepad and record all your expenses. This small act raises your awareness about money and enables you to make better financial decisions.

If you do these things consistently your bank balance will increase with mathematical certainty.

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