Do you always have challenges saving up? Do you think you earn not-well-enough to have a fat bank account? Don’t beat yourself up. After reading some of these personal experiences, you might just be encouraged to do more:
1. Maria, 25 (Customer care representative)
“I try to cook from home and pack lunch, instead of going out to eat.”
Initially, Maria bought a meal of at least ₦1,000 from her favourite fast food outlet. However, when she realized she had no savings from her ₦75,000 salary, she started cooking from home. On days she was unable to, she opted for a ₦500 pack of food from the same outlet. Maria adopted this strategy and was able to save more. You can too.
2. Allie, 22 (Corper)
“My best tip (which stems from my lack of self-control) is to pretend that money isn’t even there.”
Allie set up direct deposits which meant that money was taken the moment her “alawee” dropped in her bank account. If you know you’re very tempted to spend, you may want to adopt Allie’s method.
3. Odeyele Ayodeji (Parent)
Have you seen the thread? With the Twitter handle @Haywhy_Jah, Ayodeji tweeted about a woman who saved one million and thirty thousand naira in her piggy bank at home, since February 2018. The woman said she had been saving ₦3,000 every day.
Do you think you could pull this off?
4. Bob Berchtold, 29 (Blogger)
“I write a blog that doles out career and lifestyle advice to young professionals. I was trying to think of creative ways to help my readers save money and I realized that most of us view cable as a necessary expense, but it’s not.” So, he came up with the Ditch Cable Challenge in which he dared people to cancel their cable for a month. Don’t subscribe to Cable TV for a couple of months and see how much you save. This is not to say you should ditch the cable networks, however, you can let go of some wants.
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5. Roi Shlomo, 34 (Entrepreneur)
From the horse’s mouth…“When I moved to the United States from Israel in 2000, I had $80 to my name. I dreamed of owning a frozen yoghurt franchise, but I knew that I needed to build up the capital to make that dream come true. So, I started a carpet cleaning company because of the low overhead. I also lived in a small apartment with roommates in order to save every penny of my profits that I could, but it still wasn’t enough. So, I invested in some cosmetic kiosks in the mall. I even became a makeup artist and an amateur photographer to supplement my income even more! At the height of my savings, I was putting away $4,000 to $6,000 every month.”
In 2009, Roi finally opened the first frozen yoghurt shop, Yogli Mogli, in Atlanta. Now it’s a national chain. Wow!
Are you dazzled yet? These kind of stories are to encourage you to start saving and spending your funds on the right things.
How are you going to spend your money henceforth? Share your ideas in the comment section!
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