Remember the parable of the talents in Matthew 25:14? well reading it got me thinking on ways to improve my financial situation, talk of taking the meaning literally. If you do not want to be the servant who was given one talent and hid it in the ground thereby making nothing you need to actually live by certain money rules.
Quit caring what people think you have;
This is an important rule because most of us are in debt because we need to maintain a certain status among our peers. People have become very petty, they care about the estate they live in, the car you drive, the places you shop and oh the places you hang out. This could be your first job and you are already keeping up with the joneses, child you need to take a seat. I have realized that people are so self-obsessed to even care about the next person. They are busy trying to fake it themselves to even notice what is going on in your life so quit fretting about small things.
The next thing you need to realize is that it’s okay to say ‘I can’t afford that.’ If you lose friends because of letting them know you can’t hang out at dusitD2 or go to the mall every Saturday, then thank God for that. There are so many places you can hang out with your true friends that are pocket friendly once in a while, simply don’t go broke trying to impress.
You need to save.
This is a cliche by now, we hear it though we hardly do it therefore I will start with the benefits of saving. Saving empowers you in a way that you can be able to go out and do you. When you feel trapped at your job you can leave and go start something. This means that you do not have to stick with someone because they are financing you, you can go out and be your own person.
There are so many investment companies in Kenya right now that have investment policies that can work for you. The key thing to remember here is that you need to be well informed, visit a few of these companies before settling on one.
Budgeting is important
This is a key rule whether you are self-employed or employed. You need to know what percentage of your money goes to basic needs, taxes, savings (which should be treated as a bill) and any other bill you have.
Budgeting helps you determine what you need to do away with and what bill takes precedence. It also enables you to stop with impulse buying since every coin is budgeted for. This means for you to buy those Levi’s jeans you will have to forego another expense that was not really important.
Invest in yourself
Most young people on their first jobs forget to invest in themselves while this is when one is energetic and really has time. Money may also be a factor but you know what I have realized, investing in myself is also saving for my future. I can enroll on a small course that enables me to have skills in something that may be of great use later in life or even now.
Talk to someone who knows about money
We are in the 21st century and technology is advancing so you may not need to get a personal financial adviser yet. There are money blogs, YouTube channels on how and where to invest so get into that and learn something about money. Always remember to take with you what works for you and not what works for others.