5 ways to avoid being broke as NYSC corp member

Are you a young man or woman who finds herself constantly in debt or out of cash? You need not bother as you need to put just one or two things in place and you’d be fine.

Below are some tips that will work for you.

1. Budget your spending
Budgeting is one of the nicest means your money can work for you because when you budget, you want your money to do what you want it to do.

Giving a certain portion of your earnings to accomplish certain goals allows you to control your money and by that, you avoid unnecessary spending and save more.

2. Live below your standards
Consuming above what you earn will only leave a trail of debt behind you. If you’re spending beyond your means because you need to keep up with your colleagues or show others that you can afford a certain lifestyle, you’re not doing yourself any good. Stop bothering about what others can pay for and think about how you can live within your standards. Put your credit or debit card away. They make it easy to spend money you don’t wish to spend. Prevent impulse buying as much as possible.

3. Be debt free
Having too many debts to resolve hinders you from accomplishing your financial freedom and it can limit other opportunities. However, settling your debts and getting out can get you enough financial freedom.

4.Only lend money you can afford to forfeit
Leave a comment below if you have had a bad experience lending money to a person close to you.

Many folks have had bad experiences with lending money to friends as it may lead to the end of the friendship.

It’s okay to give a helping hand to person in need. But that should be when you can afford to. If you are still battling to find your feet financially, loaning money you cannot afford to lose leaves you at the pity of the borrower. To be on the safer side, only lend money you can afford to let go in the worse issue.

5. Save and keep saving!
It is important you make saving your hobby once you settle all your debt. Saving will curtail your financial anxiety and also help you handle the ups and downs that will arise throughout your life.

However, saving alone will not make your money work for you except you invest. It is crucial you invest your money in one business or the other to develop it and help you achieve the financial freedom you seek

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