Money Matters. Money isn’t just a medium of exchange, it is a way of securing ones future and ensuring that one isn’t left at the mercy of others during lean periods. A lot has been written on the subject of money, this article looks at the famous three tips on how to save money.
1. Be Frugal. Live within your means. While no one wants to live a miserly life, one should endeavour to be frugal. Repair instead of replace. Look for bargain deals on gadgets and household appliances. Coupons are still a great way to get savings on products and accessories. Want to get the iphone 6? Wait till the price drops a bit and save the remainder. Your lunch costs 2000 naira every day? Get a cookbook and make it at home. Living frugally isn’t being miserly, it’s being responsible with your finances.
2. Invest. Investing is you putting your money to work for you. New to the investment scene and don’t know your way around? Invest in mutual funds. Mutual funds are great for newbie investors with no appetite for risk. Check out IBTC’s Equity Funds for a start. Buy some stock and watch your money grow.
3. Give. Giving as a means of saving seems counterintuitive, but giving works. Giving is you sowing into your future. And the rewards are always abundant. So give to charitable causes. Give your time, your cash and your energy. Just give.
About the author: Roman Ajiboye is a freelance writer who loves books, social media and the web. His articles have appeared on thescoopng.com and BlossomNnodim.com. He writes opinion pieces via medium.com/@HammedAjiboye, personal essays on his blog, strictlyroman.wordpress.com and tweets via @HammedAjiboye