The 7 New Year Resolutions that will make you Richer

When it comes to New Year’s resolutions, for many these revolve around money and improving our savings.

But while you are so serious making resolutions remember that for a financial resolution to stick, it needs to be simple, clear and realistic to achieve.

Be modest in goal setting!

1. Sit down and check your spending pattern. Figure out what are your needs and what are excesses. Cut down excesses

2. Be honest about your savings

Never plan to spend over what you earn. Always remember the old rule: pay yourself first. So separate your savings first immediately money enters your account. Deposit in an interest yielding or shariah compliant account.

3. Explore ways of making money outside you job or statutory pay. Think up ways no matter how ridiculous or small. Remember that if your side hurtle could pay for just your recharge card bills or transport/ petrol fare, it will definitely make a difference. Be daring! Take the risk especially while you still have a stable source of income

4. Pre-Plan your big expenses.

Don’t let money lie in wait in your account before you make up your mind on what to do with it. Always have a plan waiting for money. This helps in achieving execution targets and personal financial fulfillment

5. Share your spending, savings and investment goals with your trusted, reasonable family and friends. Let them contribute to the priority setting and just maybe they could also help in making the right decisions for you.

6. Cut down on subscriptions.

Such as data payments- especially if they don’t yield any productive returns. Pay gym membership monthly or weekly to cut out waste. If you are not a football fan, why do complete Dstv subscription??? How about that health club that you lost motivation for??? Cut out waste!

7. Not every weekend is a splurge weekend and not every event needs a new dress/ outfit!

At the top of all these steps is the place of the fear and worship of God and the love of neighbor.

Try as much as you can to help. However, do not entertain anybody’s entitlement behavior.

Make that million and let it be sustainable!