4 Healthy money Habits to grow your finance

[Augusta]

Just like having unhealthy habits that can hurt your health or mental state, they can also be financial or money unhealthy habits that can also stand against your finance growth. So what are those healthy money tips to help you grow your finance.

1.Avoid spending time with wasteful friends: You would be doing your self more harm if you spend time with wasteful friends. You would waste your hard earned on things you can never gain from.

2. invest only on assets : Assets are things you can get money or interest when you put your money down for them. So only always go for stuff you can immediately turn into cash when they need arises.

3. Take advantage of passive income: You don't have only the mindset of working for money, try and locate investment that would make you money while you sleep and indulge..This an healthy way of enabling your money to make more money for you.

4.Take advantage of cheap sales: This is one reason why it is good to save, you would always have money to buy at anytime what one want to sell cheap. You can buy at that time and sell it higher in the future

What healthy money tips do you practice. State below

 

[saoussen5765]

About your first point: Friends aren't a bank so for example if you would start a business with friends when each one is expected to spend 40,000 neira but half of them may pay 30,000 neira or 35,000 neira it doesn't mean it is a wasteful friend but this is what his pocket money could bring at this moment.

 

[Augusta]

You didn't get that point well, I'm not referring to friends that will come in to assist the business financially whether low key or not but I'm talking about friends that would want you to spend both time and moneu on them clubbing and spending on frivolities. There are people or friends like this that spend a lot of their time drinking and smoking, if you as a business owner spend your time with this category of persons and waste your business money just like them then you should know that you are having an unhealthy business habit that might just collapse your business.

What brings about business collapse or bankruptcy? it is lack of money when once your capital is going down because of reckless spending then you should know that you are setting yourself up already for a failure in your business. The truth is that only healthy habits can produce a healthy business, this is why the healthy habits to imbibed are written out there. Until one display a lifestyle that is productive to a business the business might not strive as well.

To add to it, I believe a good business man should do more of hanging out with serious minded people.

 

[Mika]

I started saving money when I was still a student. I received monthly allowances from my parents, I saved money on food (I chose cheaper options, vegetables instead of meat, avoided buying junk food and soda), I saved money on clothes (I upcycled my clothes, I wore the same clothes as long as they were not torn). I used my saved funds to build my skills by attending training and short-term courses. When I graduated from the university, I also had certificates from half a dozen vocational courses. When I started working, I did not start saving immediately, I enjoyed my life to my fullest, however, after a year, I began saving, I saved 10-15 percent in my bank and used the remaining money to pay bills. When I had accumulated some money, I use the funds to buy stocks. I continued to save and continued to buy stocks. When I received dividends, I chose not to receive cash, instead, I preferred to receive stocks. Apart from stock market investment, I also invested in businesses, mutual funds as well as the crypto market. I have not invested in real estate but once I have some money, I will start investing in real estate as well.