In the world at large, one of the most widely asked question is "how can I grow, manage and sustain my finances?".


 
The truth is that everybody would love to double, triple or even quadruple their income. So, that is why it is very necessary to look out for ways to grow the 'raba'.



In this new year, we all have to look out for ways (legally) to grow our money so that we can end this year on a high note. You get my point now?

These financial tips are designed to help you live your best financial life and take advantage of the fact that the younger you are, the more time your savings and investments have to grow.

So, let's get started:



1. Learn Self-Control:

 
If you’re lucky enough, I'm quite sure that your parents taught you this very important skill when you were a kid. If not, keep in mind that the sooner you learn the fine art of having self control when it comes to money, the sooner you’ll find it easy to keep your personal finances in order. 

Truth is that, there is a particular spirit that comes with having money. If you don't have discipline and self control over money, you'd end up spending someone else's money or end up buying things that you didn't envision buying when you didn't have that money. 

Buy more of the things you need, and very less of the things you want.



2. Control Your Financial Future:
The bitter truth is that if you don’t learn to control and manage your money, then other people will find ways to mismanage it for you. 


Instead of relying on just anybody for financial advice, take charge of your finances or meet up with renowned financial consultants or someone in your circle who you know that knows how to save and manage money. and read a few basic books on personal finance.



3. Know Where Your Money Goes:
You truly need to realize how important it is to make sure that your expenses are not exceeding your income. 


The best and surest way to do this is by budgeting. Once you see how the cost of that your 'simple gala and pepsi' adds up over the course of a month, you’ll realize that it is necessary to make small yet relevant changes in your everyday expenses as this can have as big an impact on your financial situation as getting a raise in your salary.

In addition, keeping your monthly expenses as low as possible can help to save you significant money over time.

For example, what's the importance of spending so much by living in a 3 bedroom flat as a bachelor when you can get a room self contain or a room and parlour self contain and use the other money to plan on getting yourself your own land for your own building project? You're not too young to be a landlord or landlady o.

Understanding how money works is the first step toward making your money work for you.



4. Start an Intentional Emergency Fund:
One simple secret I'm going to share with you is this — always save up some of your income in a separate account (this account mustn't have an ATM card o).

Also, note that this separate account must be different from your regular and normal savings. If you are a business owner, make sure to pay yourself a salary package, then save the rest of the money. 

As a business owner, it is necessary to note that not every money that comes from/into the business belongs to you. You must learn to have some money saved up FOR THE BUSINESS.

No matter how low your salary may seem, it’s wise to find some amount—any amount—of money in your budget to save up into an "emergency fund" every month.

Having money in savings to use for emergencies can keep you out of trouble financially and help you sleep better at night.



5. Start Saving for Retirement:
You're not too young to start saving up for "your retirement". Just as your parents probably sent you off to school with high hopes of preparing you for success (a long term project), you also need to plan for your retirement well in advance. 

We all know how it is with pensions and pensioners, so, the sooner you start saving for your retirement, the less worry and stress you’ll have as you retire. Also, it's necessary that when we age and retire, we shouldn't become financial burdens on our children and those around us.

Save up something o, even if it’s only a small sum, it will eventually add up to something helpful in the future.



6. Protect Your Health:
Health is wealth. So, you have to intentionally take care of yourself health wise if you are to stand a chance to grow, manage and sustain your income this year.

If you've been to the ICU department of a general hospital, you'd fully understand how good health is an integral part of making money.

Only those who are alive and healthy can make and enjoy their money o. So, protect your health by all means necessary.

It also pays to take daily steps now to keep yourself healthy—such as drinking good water regularly, eating fruits and vegetables, maintaining a healthy weight, exercising, not smoking, avoiding excessive alcohol consumption, and driving safely, eating healthy meals, etc. All these behaviors can save you on medical bills.

7. Protect Your Wealth:
To make sure that all of your hard-earned money doesn’t vanish into thin air, you’ll need to take bold steps to protect it. 

To protect your wealth, you'd have to do some or all of these great tips;

• Avoid Ponzi schemes.

• Avoid unnecessary hosting of friends.

• Do not spend to impress, rather, spend to invest.

• Buy only things you need.

• Live within your income, not your family's or friend's expectations of you.

• Slow down on your "aso-ebi" buyings.

• Learn to eat at home. Home made foods are most times more cheaper and economical than fast foods, etc.



Conclusion:
This year, 2022, we all have to take bold and intentional steps to stay afloat than we did last year. So, I hope that these tips would help us to become better than we were and better than we've always been.

Kindly feel free to share your thoughts, comments and additions with us by commenting in the comments section below.