31 May 2018

5 Questions to Ask Yourself If You Are Constantly Broke

Where Is My Money Going To?
The most important step in gaining control of your financial situation is to know where your money is going. How much do you spend on feeding, transportation, data, shopping, airtime, entertainment monthly this will enable you know where most of your money is going to monthly and where you have to cut back on.

Am I Leaving Above or Within My Means?
If you find yourself constantly running out of money, you are most likely living outside of your financial capability. Perhaps your lifestyle is more than you can comfortably afford. We all have an idea of what the perfect lifestyle is, but that lifestyle is something to be earned, not faked.

Am I Generating Enough Income?
If you are constantly living from pay check to pay check; I think it is time to change your job or find a side hustle in order to secure a more stable financial future.

Live Within Your Means
Try to offset all your debt. The hustle will be worth it when you are debt-free. Try to make a habit of purchasing things that you can pay for immediately, rather than the intent of paying it off in the future.

Am I Saving Enough Money?
Ask yourself if you are saving enough or saving at all. It is important to have an amount set aside monthly as saving for raining days and in case of emergency.