It’s my money and I can spend it the best way I know; says almost everyone but there are several ways of spending your money and it is important you that you should know how to spend money from an economic point of view as regards needs and wants.
Have you ever spent money and you are like, what did I use the money for? You got yourself a note and try to pen down the things you spent your money on and you just could not wrap your head around it.
Everyone loves to spend money wisely and at the same time get the maximum value on their money and to achieve this you should know how to spend money.
Financial struggles come in different ways because for some, they don’t make enough money while others just do no know how best to spend their money.
Knowing how to spend your money is a life changer because if you understand how best to spend your money you will know how to live your best life.
To get started on this journey, here are four great ways of spending your money.
- Pay Up Your Insurance
Paying up your insurance is easily one of the first things to do which shows that you understand the ways of spending your money.
Paying up your insurance includes everything that has to do with your fixed bills, mortgages, rent, electricity, security, water, and just about everything that can embarrass you if not done.
Savings/investment must be a culture if truly you know how to spend money. You can save money from any amount you earn. It is not solely on the amount that you saved but the attitude.
Like the saying, little drops of water make the mighty ocean, the small savings here and there would eventually turn into the great capital for investment over time.
The law of savings and growth in Nigeria is that money should meet money in your hands.
- Paying Yourself As One Of The Ways To Spend Your Money
One thing most people do not know how to do is to pay oneself and not because you worked for all the monies or have made so much profit and you think that all the money you got was yours solely.
Knowing how to pay yourself shows you understand the ways you can spend your money, and this will count a lot on how to manage your spending.
It is from the money you pay yourself that you use to have fun and get yourself some life, travels and vacations and life.
The amount you pay yourself should be enough to buy yourself at the least a drink or to get a few things because life is in phases.
- One Of The Ways To Spending Money Is Through Giving
Giving is one of the best ways to spend your money because the act alone brings gratification to your heart, that sense of making an impact on the life of someone especially when done to the less privileged or to someone who really can’t pay you back.
Too many persons do not know how to give out, so they can’t understand or can comprehend the smiles and glow on the faces of the receiver and the radiation that comes from the giver.
Giving frees up your soul and releases tension. You can learn to give out from the little things and grow your way up.
The four best ways to spending money as highlighted above, if well practiced would give you the maximum value for all the money you spend.
Knowing how to spend money just should not be limited to carefree spending or avoiding unnecessary purchases but getting maximum value from the things you spend your money.
How best you spend cash includes reaching your financial goals, being debt-free, putting smiles in the faces of others, and living your life the best ways your cash can carry you.