Do you want to live rich and retire richer? Rich enough to do what you want to do when you want to do it? Rich enough to stop worrying about [tag]money[/tag]? If the answer is “YES”, then dont stop now, keep reading.
I am of the school of thought that you have to keep a money diary so as to be able to track your daily expenses. This has given me a clear picture of how and what I spend my money on. Taking a look at the excel sheet which serves as my MONEY DIARY over the weekend reveals something I have not noticed in a very long time. I spend an average of 150 naira daily in the morning on refreshment outside what I spend on breakfast…
This means I spend an average of 750 naira every week and 3,000 naira every month. This is despite the fact that I seldom miss my breakfast. This is alarming considering what I spend the money on.
You might not find yourself in my shoe and therefore think you are free from these leakages. But wait… what about the hanging out at the club every evening? Yours might even be on Friday evening. It may even be that you can’t do without taking a bottle of soft drink with your meal. You need to watch it. This is the little drop of water that becomes the ocean.
You may think this is a small amount compared to how much you currently earn but a look at other things we spend our money on will reveal some money leakages. This might be the reason why you still believe that you need a raise or that what you are currently earning is not enough. What you definitely need is [tag]Money Management[/tag] Skill. I believe that You dont need more money yet. So, start the process now. Keep a money diary and Stop the Money Leakage…
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11 Responses
Wao, Emmanuel.
Considering your words flowing with seasons of my life when I actually need this. Abeg kindly send the Excel sheet make I see the template.
I need am oooo. thank you very much
Na wa for youooo! Emma,
You just talk like say you want to be highly conservative about money, but when I look around the events of things, I gave your Money Management Skills a second thought, from the right perspective anyway, and just discovered that my initial option was wrong. You just said the truth and this will help a lot.
Walahi, man really need to follow this skill to become more GREAT.
You be correct man.
John C.
Hello John,
It is not about been highly conservative about money. At the same time, I dont see any thing in being conservative. It is about priority. You either play now and pay later or pay now and play later. Anyway, do every thing possible to block your money leakages
Hi Emmanuel,
I dont quite get the logic behind this idea of money management, may be when i see the excel sheet, i might fully understand what you mean about blocking leakages
Hi Dare,
When I talked about Money Leakages, I was talking about those things we spend money on now that we could do without. They are things that will not affect us if we dont spend money on them. Meanwhile, you can send me a mail via me@yemma.com.ng if you need a copy of the excel sheet.
‘have no comment but a word of engouragement- please simply keep this up. I hope to be able to do same someday very soon. God bless you as you achieve your dreams.
Hi, Emma, i quite agree with the point you made on taking stock of yr expanses on d excel sheet. But i also think it requires discipline to keep doing so. There are other things that causes money leakages.
emotions, lack of planning and there are geniune reasons y u need to spend money on some things. What i know is a sure measure against leakages is GIVING. Particularly giving on fertile grounds.
Hi Fola,
I have found out that one can also plan for “GIVING ON FERTILE GROUND”. It is all a matter of discipline and a commitment to stick to the plan.
Good talk about the money leakages,keep it up.It’s inspiring to get some motivations from this site.Meanwhile can i have a look at the excel sheet?
Hi Mary,
I have just sent you a copy of the excel sheet by mail. Hope you find it useful.
Hi Mary,
I have just sent you a copy of the excel sheet by mail. If you find it useful, you can give it to other people.