4 Easy Steps to Grow Your Money This Year

Reading Time: 2 minutes

How You Should Be Spending Your Money

Financial freedom is a thing most of us want to attain in this lifetime.  The level of luxury we desire might differ but everyone wants to be able to afford basic necessities without worrying too much about if we can afford the next one or not.

Yet, as necessary a part of life as it is, money likes to be elusive. It seems one can never earn enough. As soon as income increases, it seems bills to be settled increase too.

Seek investment advice. Not all ventures are profitable so, before investing, talk to an expert. Click To Tweet

Growing Your Wealth

There are a couple of ways that wealth can be nurtured;
1. ESI (Earn Save Invest): This is the easiest way that you can grow money. It requires spending discipline, saving, and putting some part of your savings in an investment program like stocks, treasury bills, etc.

2. Multiply your source of income: While saving is always a good thing, it may not be easy if you earn very little. A way to work around this is to pick a 'side hustle'; monetize one of your skills, start a freelance gig or sell something on the side.

3. Seek investment advice. Not all ventures are profitable so, before investing, talk to an expert.

4. Draw a financial plan aka budget. Writing stuff down makes it easier to analyze, follow and evaluate. Your financial plan should also have a scale of preference and priorities.

5. Consider changing your spending habits. How you spend money is very important.

You can also try increasing your skill set, bargaining for better pay, and improving your network. The people you associate with can influence how you associate with money. They can also influence the opportunities that come your way by referencing you for better offers.

Cheers to financial freedom in 2020...

No Comments Yet.

Leave a comment