Financial Faith Works By Sight

Timi stared into space when Nkechi in HR smiled as she announced that salaries would be paid on-time as usual. He shook his head in dispair as he calculated what would be left. What is the point of working for 365days a year for 7years and having no savings, not to talk of investments to show for it? He stared at his designer watch as he willed the time to pass faster. His car was due for servicing, the landlord would soon come knocking for his rent, his siblings had called for their monthly allowance and his wardrobe was due for a change.

“Why is everything happening at once? It’s like I can’t seem to catch a break”, he grumbled to Luke his friend. “Before the money comes, debts seem to be lurking around the corner waiting to swallow it. I need to make more money, triple my hustle or pray for a miracle. This money is not enough!”, Timi complained.

Luke contemplated his response, as he did not want to hurt his friend, but the truth had to be told. “My man Timi, I’ve always told you that budget is not just for the Finance Department, you need to have a personal budget. Even if you earn more, knowing how to handle it is the key to success. In these crazy times when we have a milion competing priorities; a personal budget helps you keep an eye on those expenses that creep up on you.

“Wait oh, budgets are pointless, you are only writing down what you already know; life is hard enough without a document reminding me of how broke I am”, Timi sulked.

Luke was stunned. “Writing down you potential expenses and comparing them to your income enables you to plan better and cut costs where necessary. For example, you know your rent is due in November, start saving from January, that way the financial burden doesn’t drown you. Save for the rainy day. More so, you need to cut your coat according to your material; how much do you earn that you are wearing head-to-toe designer outfits? You have invested your money, I’m just not sure how much returns you’ll get from it. Plus you need to learn to say no; Halima was broke 2 months ago and last month; I saw you ‘dashing’ her money both times; you only do that after you’ve saved/invested some. You have to shine-your-eyes and be financially woke to make ends meet on a salary. Your spending choices need to be calculated and properly prioritised”.

The journey to financial freedom is paved with self discipline, sacrifice and opportunity costs forgone. However, it’s one of the most rewarding trips.

Do you struggle with financial planning or emotional spending? Or you can’t seem to figure out where all the money went; drop a comment and let’s talk.

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