Being broke is a really bad feeling. The truth is, there are somethings some people do that make their situation even worse and when you ask them, they start to blame the witches from their village but hey! there are other people from the same village with the same number of witches doing very well. We identified some financial habits that many Nigerians portray that have worsened their already bad financial situation. Read about these habits below…
Spending on impulse: Oftentimes, people just spend on impulse. Not thinking twice before buying anything will lead you to accumulate things you don’t need and waste money you don’t have. So always ask yourself this question: do I really need this? before slashing cash on them.
Never making a budget: some people don’t know how to set a budget even when they are broke. You should endeavour to make a budget. Try to set a budget based on your incomings and outgoings and stick to it. This helps you know what you spend and helps you avoid spending more than you intend to.
Delay on bills: You’re not doing yourself any good by delaying paying your bills. Whether you pay them on time or not, you would still have to pay them and it becomes a big financial burden when you pile them up, sometimes you find it difficult to wriggle out of such situations.
Borrowing: Some people just can’t do without borrowing. There may be times when taking on debt is unavoidable but making it your life duty to always take on one everytime without looking for another way to manage the situation without borrowing would only help in making you poorer. Learn to live within your means. By all means, avoid buying things on credit. If what you is only garri and groundnut, stick to it and let the friedrice or chicken and chips at KFC rest.
Wasting money: You know you’re supposed to be saving and minding what you spend but you throw caution to the wind everytime just to give yourself a treat or buy things you probably never need. Work out how much you spend on clothes you don’t wear, food you don’t eat, and other things you never use. It might shock you just how much you are spending on “nothing”. Start to use your money wisely instead of squandering it, and enjoy watching your savings grow instead of splashing out on nights out.