The fact that virtually all nations
of the world are battling with economic problem is not an overstatement, just
as it is obvious to the deaf and audible to the blind. The issues is becoming
more critical day-by-day, it all started with USA, with the record of economic
slow down. After which the, second economic giant have her own kick as well,
i.e. China, when the Forex-trading got worse and the value of Yuan fell drastically.
As if this is not alone, not long enough when Russia receives her own portion,
of the menace. In fact, this economic plight cross over the boundary even to
hit the black land, Nigeria (the giant of Africa) is battling with hers. Though
this agitation is true, but discussing something that helps to bring the
situation under control is what benefit, you, me and the government.
Unfortunately, expecting the
government to run your family finance on your behalf is next thing to financial
failure. However devising ways of leaving a financial prudence life is the next
bet. Without any doubt, every finances start from the home, after which we can
now talk of business or other governing atmosphere. But saving more cash might be easy to think or
hear but hard to do. Because, one thing is to not know what to do, another
thing is to know how to do it; in such a way that problem will be solved. Even
when you know how to do it then important to know how easy you can do it. This
article will centre on ways of keeping your account grow during this ‘dry
time’.
Coordinate
Efforts
If you are married, make sure you
and your spouse are working on the same agenda. You are no more single, you are
now double, but why doing things in isolation. If one is trying to save money
while the other is busy spending, what is the point? When you work as a team, you can encourage
each other to keep on track with your saving. You need to know that, financial
issues are one of the top causes of divorce, from time immemorial. For instance,
Paul R. Amato And Denise Previti from (The Pennsylvania State University) in
a paper published Titled; People’s Reasons for Divorcing: Gender, Social
Class, the Life Course, and Adjustment. They claimed that; financial issues (inability of either of the spouse to manage cash appropriately,
incessant ‘broke’ as a result of wasteful spending, etc.) are some of the top
causes of Divorce. It’s amazing, as they claim that,
money issue also cause other health related ailment in people, sickness which (they
said) it include: sleeping disorder, poor productivity, domestic unrests,
attempted suicide, mental problems, and Personal life hardships. With your
spouse, try to tailor things out, come out true for each other concerning your
finances, and find ways (together) on how best you can live and be satisfied
with the little you have. Doing this will prevent either party to ask for or
request something you are financially un-capable to purchase. Because the
situation on ground is already naked to both of you.
Buying On
Credit is a habit that should either be brake or ‘keep under
control’ to its minimum. Though at some time, situation might call for credit
purchasing but the real truth is that, it mustn’t be over done. Instead, try to
know how to live more ‘moderate’. Taking loans on credit/debit cards is easy but
repayment is hard a-bit. Most especially when it attract high rate of interest.
There is nothing more frightful and eye opening for the individual, then to see
his or her cash depleting at an alarming rate, which is evident through cash
transactions.
Budget And Re-Budget
Everyone should create a budget, and even re-construct
their budget. What worth doing worth doing well, in time when things are
‘tight’ having a working and re-constructed budget, safe the situation. Life is
not all about our philosophy all the time, circumstances are dynamic, try to
re-construct your ‘spending plans’. Learn to shift to adapt to changing
situation. If you are not sure how or just not good with money, many businesses
such as H&R Block, offer free financial consulting to help you put a budget
together. Knowing where you are spending
your money is by far the best way to save.
In most cases, people have no idea where their money is really going and
once they see it on paper, not only are they surprised but eager to change
their spending habits. Above all, a consultant can only give you ideas, you are
the one who know what really work for you, sit down and dig deep on things you
can do to get most out of the little ‘resource’ you are having.
Stop Any Addiction. One of the serious thing that can
happens to someone in life that can cause huge cash leakage is addition i.e. uncontrollable desire for the consumption of
a certain substance, but for the sake of surviving financial hardship dealing
with any forms of addiction whether it’s
smoking, drinking or what ever, is one escape route. The reason for this is that most bucks that
are spent on these things is something, if added together. Just as the saying
goes that ‘a drop of water makes a mighty ocean’ so also it is when someone
start saving little-by-little when all spending on ‘addicted-item’ was pegged.
Live Within Your Means
The
quickest way to get in debt is to live beyond your means. Sure, most people want more than they have
but life is not all about spending money. Cut your coat, according to your
cloth. Be thankful for what you do have and learn how to enjoy the financial
position you are in. This is where your
budget will help identify the amount of money coming in against the amount of
debt going out. You need to live within your means on how you eat, dine out or
any other thing you do. And lastly, what work best for Mr. A, might work
against Mr. B and vice versa. So in all you do, just as the satiation calls,
apply the sense of ‘Moderacy’ (word copied
from Wise Shopper), in every area of living, live simple and natural, with
energy usage, gas consumption, or any other thing, go moderate and wise. This is
not time to complain or blame anyone (not even the government). Apart from
financial issue, with all issues of life, always apply the sense of ‘Moderacy’,
the opposite of hard is soft, what is hard now, is not meant to be forever, all
things happen with time, things are fallen back to place soonest.
Do
you have other ideas that can be of benefit? Let us know, place your comment.
