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Nairaland Forum / Nairaland / General / Career / How To Achieve Your Financial Goals With A Single Income Source (14748 Views)
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How To Achieve Your Financial Goals With A Single Income Source by 24hoursreporter: 8:39am On Dec 15, 2018 |
Having a single source of income is not a bad idea if you spend wisely. As a matter of fact, you can achieve your financial goal with a single source of income. What differentiate you from others is not how much you earn, but how well you spend. Most single income earners who are mindful of their spending still achieve their financial goals. In the end, it is your planning and financial discipline that matters not the amount of money you make. Below are some of the tips on how to achieve your financial goals with a single source of income. Tips On How To Achieve Your Financial Goal With A Single Source Of Income #1. Prioritize Your Spending Prioritizing your spending is one of the disciplines a single income earner must learn. In fact, They must understand the fact that they are not in competition with anybody, therefore they should never spend to impress anybody. To put it differently, base all your purchases on priority and try as much as possible to avoid impulse purchase. #2. Always Prepare For Unforeseen Circumstances When you have a single source of income, you always fear for unforeseen circumstances. However, when you are prepared for this, you will not be under pressure should any financial emergency occurs. In view of the foregoing, ensure you always save at least 10 percent of your earnings. These savings will always come to your aid when you are distressed financially. #3. Have A Monthly Budget Having a monthly budget will help you a lot as a single income earner. In fact, it is one of the best tips on how to achieve your financial goal with a single source of income. When you adhere strictly to your budget, you will have control over your spending. Also, your budget will give you an idea on how to spend your money prudently while preparing for a raining day. #4. Don’t Live Beyond Your Means As a rule, never live above your means as a single income earner. When you try to impress other people, there is every likelihood of you living beyond your means. However, when you are conscious of your spending, you will definitely get the financial freedom that you seek. #5. Spend More Time At Home One of the easiest ways to achieve your financial goals with a single source of income is to spend more time at home. Without an iota of doubt, you tend to spend more when you go out with your friends. However, when you are at home, you will spend less and have more time for your family. Source: http://www.24hoursreporter.com/2018/12/14/how-to-achieve-your-financial-goal-with-a-single-source-of-income%EF%BB%BF/ 13 Likes 1 Share |
Re: How To Achieve Your Financial Goals With A Single Income Source by 24hoursreporter: 8:40am On Dec 15, 2018 |
Must Read!!! Top 5 Easy Ways To Migrate To Canada From Nigeria ===> http://www.24hoursreporter.com/2018/09/24/top-5-easy-ways-to-migrate-to-canada-from-nigeria/ 4 Likes 2 Shares |
Re: How To Achieve Your Financial Goals With A Single Income Source by castrol180(m): 1:14pm On Dec 15, 2018 |
First to comment after the greedy poster first commented on his post 2 Likes 1 Share |
Re: How To Achieve Your Financial Goals With A Single Income Source by Mighti77(m): 1:15pm On Dec 15, 2018 |
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Re: How To Achieve Your Financial Goals With A Single Income Source by wahles(m): 1:15pm On Dec 15, 2018 |
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Re: How To Achieve Your Financial Goals With A Single Income Source by PotatoSalad(m): 1:15pm On Dec 15, 2018 |
Number 1 is on point. No do pass yourself. Save and invest; less emphasis on the former. No one got rich by saving money Spend more time at home but hang out as often as you can. There are several ways to hang out with people without spending a dime. It's one life man. Enjoy it while you can. 5 Likes |
Re: How To Achieve Your Financial Goals With A Single Income Source by MANNABBQGRILLS: 1:15pm On Dec 15, 2018 |
Nothing as sweet as multiple source of income....... say so! For the one source of income people, please, take note of what the OP is saying, it makes load of sense. 3 Likes 2 Shares |
Re: How To Achieve Your Financial Goals With A Single Income Source by NokiaN8(m): 1:17pm On Dec 15, 2018 |
please which business idea can one do with 500k in Kwara ilorin or Oyo? 1 Like |
Re: How To Achieve Your Financial Goals With A Single Income Source by Obagoblog(m): 1:17pm On Dec 15, 2018 |
Fact is, when you are broke, you will automatically become an indoor man... 8 Likes 2 Shares |
Re: How To Achieve Your Financial Goals With A Single Income Source by emmyw(m): 1:17pm On Dec 15, 2018 |
Cool |
Re: How To Achieve Your Financial Goals With A Single Income Source by DIIGZ(m): 1:20pm On Dec 15, 2018 |
NokiaN8:do cat fish on rented ponds |
Re: How To Achieve Your Financial Goals With A Single Income Source by Nobody: 1:21pm On Dec 15, 2018 |
Avoid Nigerian girls 6 Likes |
Re: How To Achieve Your Financial Goals With A Single Income Source by BabaIbo: 1:22pm On Dec 15, 2018 |
Nice Avoid broke dependent girls/ladies 2 Likes |
Re: How To Achieve Your Financial Goals With A Single Income Source by BabaIbo: 1:22pm On Dec 15, 2018 |
NLModsAreStupud:lol |
Re: How To Achieve Your Financial Goals With A Single Income Source by SojiCash(m): 1:24pm On Dec 15, 2018 |
#5 is okay |
Re: How To Achieve Your Financial Goals With A Single Income Source by dingbang(m): 1:26pm On Dec 15, 2018 |
True.. |
Re: How To Achieve Your Financial Goals With A Single Income Source by OfficialSam(m): 1:27pm On Dec 15, 2018 |
castrol180: Technically you are the first to comment, but Literally you are the second to comment. Sense will not kill me ![]() ![]() ![]() 3 Likes 1 Share |
Re: How To Achieve Your Financial Goals With A Single Income Source by ednut1(m): 1:28pm On Dec 15, 2018 |
How much u get op ![]() |
Re: How To Achieve Your Financial Goals With A Single Income Source by allanphash7(m): 1:30pm On Dec 15, 2018 |
My brother this can't work in this our great country Be honest with yourself 1 Like |
Re: How To Achieve Your Financial Goals With A Single Income Source by FrankTalk1: 1:30pm On Dec 15, 2018 |
Thanks OP. Anybody that depends on only one source of income is taking a very big risk. See 40 BRILLIANT WAYS YOU CAN START MAKING MORE MORE WHILE KEEPING YOUR DAY JOB. |
Re: How To Achieve Your Financial Goals With A Single Income Source by Jaytecq(m): 1:31pm On Dec 15, 2018 |
learn to say NO |
Re: How To Achieve Your Financial Goals With A Single Income Source by Princedapace(m): 1:33pm On Dec 15, 2018 |
Nice points. Monthly budget is awesome. That can help u manage your expenses.. Also don't carry over load in the name of gf Any ways, if u are interested in learning how to earn money online, kindly check out my profile and read my thread on how I make money online. Freelancing is growing all over the world. It remains one of the best ways to earn side or full time income. To do well as a freelancer, u must learn competitive skill, learn to brand your self, package your brand and send out compelling proposals.. Well, I can teach u all these if u are interested.. Check my profile and read my thread on freelancing.. |
Re: How To Achieve Your Financial Goals With A Single Income Source by awa(m): 1:34pm On Dec 15, 2018 |
NLModsAreStupud: You are very much on point. They will milk you dry if you are not careful 7 Likes |
Re: How To Achieve Your Financial Goals With A Single Income Source by antagonist: 1:35pm On Dec 15, 2018 |
Nothing as sweet as multiple source of income.......[b][/b] say so! More like Michael Olayemi Adesida "Say so" |
Re: How To Achieve Your Financial Goals With A Single Income Source by Buffalowings3(m): 1:49pm On Dec 15, 2018 |
Obagoblog: ![]() Can relate.. Not being at shoprite this year. |
Re: How To Achieve Your Financial Goals With A Single Income Source by slimmoney(m): 1:50pm On Dec 15, 2018 |
NOTED |
Re: How To Achieve Your Financial Goals With A Single Income Source by gracefoundmme(m): 1:54pm On Dec 15, 2018 |
Mighti77: Please I'll love to contact you 1 Like |
Re: How To Achieve Your Financial Goals With A Single Income Source by elderken(m): 1:54pm On Dec 15, 2018 |
Good points. @op Although I prefer to have multiple streams of income than having just one. |
Re: How To Achieve Your Financial Goals With A Single Income Source by Ruddyman(m): 1:58pm On Dec 15, 2018 |
In this age and time, one source of income is not enough 3 Likes |
Re: How To Achieve Your Financial Goals With A Single Income Source by Stanleyafam(m): 2:04pm On Dec 15, 2018 |
24hoursreporter: I'm surprised u didn't add "investments" Invest or start a side biz with a certain percentage of ur income each time it comes in 3 Likes |
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