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| Re: See The 5 Rules Of Spending by yusluvad(m): 2:33pm On May 25, 2021 |
Nice input. This simple and short article is an example of 'Education without walls'... 1 Like |
| Re: See The 5 Rules Of Spending by BuharisBoy: 2:36pm On May 25, 2021 |
Here are the rules
Spend 30%
Invest 30%
Save 30%
And repeat |
| Re: See The 5 Rules Of Spending by Crazeworld(m): 3:21pm On May 25, 2021 |
Vipro:
Success and financial stability does not depend on how much a person earns but on how much he can keep.
Successful people are those who have the ability to save money. In this article we want to highlight some of the rules of Spending which will enable readers to attain financial stability.
Rule 1. Do not spend more than your income: Spending more than ones income leads to bankruptcy. The major cause of this situation is spending more than your income. Perhaps you do not know what bankruptcy law says in this country. It is very bad to be bankrupt. Remember investments are made from saved income, so no savings no income.
Rule 2. Never spend in anticipation of income: It is not proper to spend money in anticipation of income. Many civil servants spend money on food, clothing and other wares with the expectation of making payment when salaries come. This situation is very dicey, especially these days that salaries do not come as expected. Always follow the rules of spending with what you have at hand unless when life is threatened. Remember the adage "cut your coat according to your size"
Rule 3. Always make a budget: A budget is a written plan showing expected income and expenditure. Wise people prepare budgets as a guide to expenditure. If you follow your budget, you may not spend what you have not earned and you will always be at peace.
Rule 4. Don't spend money to impress others: A lot of people spend money to impress others. This is a dangerous habit, we must always consider our income first before we engage in spending spree. Because if you don't have money, you will realize that the poor man does not really have a friend.
Rule 5. Don't be afraid to spend: What we have said so far may be misunderstood by some people as becoming stingy, stingy people hardly get rich. Modest people at least remain financially stable. If you are afraid to spend, you make money your master but if you spend carefully, your money remains your servant.
If you want to thrive, don't neglect these 5 rules of spending. nice |
| Re: See The 5 Rules Of Spending by Nnnena(f): 3:33pm On May 25, 2021 |
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| Re: See The 5 Rules Of Spending by 99thEnemy(m): 3:35pm On May 25, 2021 |
Vipro:
6.) Carry only the amount of money you need to spend on drinks when going out to drink alcohol I know what I am saying  |
| Re: See The 5 Rules Of Spending by Arkmanbuddy(m): 3:52pm On May 25, 2021 |
Though this write-up looks good with the advice, it lacks the very sauce for financial freedom. This is a write-up for hustlers who only earn to spend and have enough just to spend it.
The real step to financial freedom begins from paying yourself first: saving at least 10% of your income (salary, profits from your little business) and invest it so as to have more streams of income.
If you don't have another source of income from your salary, even if you budget from now till forever, you ain't going nowhere financially. You'll just be hustling, having enough to survive.
'Nuff said! 3 Likes |
| Re: See The 5 Rules Of Spending by uniquetechng: 4:05pm On May 25, 2021 |
Nice tips |
| Re: See The 5 Rules Of Spending by Greystone: 4:13pm On May 25, 2021 |
Vipro:
Rule 2. Never spend in anticipation of income.
. Fastest road to being broke. 1 Like |
| Re: See The 5 Rules Of Spending by Sanctecosma(m): 4:18pm On May 25, 2021 |
Nice one and quite practicable. Thanks OP |
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| Re: See The 5 Rules Of Spending by Nobody: 4:34pm On May 25, 2021 |
Fedrick100:
We are the crew of Spend am another one will come Na wetin fall me for over 10 years be this. Stop it bro. Procrastination is evil and a destiny killer. 2 Likes 
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| Re: See The 5 Rules Of Spending by Ghast12: 5:05pm On May 25, 2021 |
Ok and add the final one
Do not spend on girlfriend |
| Re: See The 5 Rules Of Spending by Cashalhaji: 5:16pm On May 25, 2021 |
Good |
| Re: See The 5 Rules Of Spending by emmnprince(m): 5:27pm On May 25, 2021 |
Sunnyshinylight:
You must get into worship, I tell you the raw truth, it's the most important subject ever to be taught on earth.
Few people takes it very seriously, most actually do it when they are in the mood, but not as a traditional cultural heritage worship, attitude, character, action everywhere, no, it's far from them.
You have to have learnt to love to worship, your heart singing and making melodies in your heart to the LORD GOD ALMIGHTY IN CHRIST JESUS BY THE HOLY SPIRIT. Without ceasing! I'm still trying to understand and find a balance how this comment correlate with what OP shared.  |
| Re: See The 5 Rules Of Spending by emmnprince(m): 5:29pm On May 25, 2021 |
betcoin23:
If you're interested in vip app 90%sure for betting to increase your profit daily check my signature and WhatsApp me. I will show you proof and past winning record of the vip Apps... This is not a worthy investment from OP’s point of view because history has proven beyond reasonable doubt that such endeavour end in premium tears! |
| Re: See The 5 Rules Of Spending by emmnprince(m): 5:33pm On May 25, 2021 |
BuharisBoy:
Here are the rules
Spend 30%
Invest 30%
Save 30%
And repeat What about the 10% balance? |
| Re: See The 5 Rules Of Spending by emmnprince(m): 5:36pm On May 25, 2021 |
99thEnemy:
6.) Carry only the amount of money you need to spend on drinks when going out to drink alcohol
I know what I am saying
You're 100% correct my brother! That atmosphere’s influence is so strong that even a wise man is 100% liable to succumb! 1 Like 1 Share |
| Re: See The 5 Rules Of Spending by emmnprince(m): 5:43pm On May 25, 2021 |
Ghast12:
Ok and add the final one
Do not spend on girlfriend So long you have a girlfriend, especially in Lagos-Nigeria, spending follows. Except your girlfriend is brainy, independent and taking care of her bills from her legit earnings without putting her personal and family burdens on you to shoulder. |
| Re: See The 5 Rules Of Spending by Ezike25: 6:30pm On May 25, 2021 |
No 5 self
I just dey reason am |
| Re: See The 5 Rules Of Spending by BuharisBoy: 7:36pm On May 25, 2021 |
emmnprince:
What about the 10% balance? Can either go with spending or investment or you just save, in real life situation you cannot control your spending or investment at the exact percentages, so 10% will take care of this. |
| Re: See The 5 Rules Of Spending by emmnprince(m): 7:42pm On May 25, 2021 |
BuharisBoy:
Can either go with spending or investment or you just save, in real life situation you cannot control your spending or investment at the exact percentages, so 10% will take care of this. Let's say the 10% should be for emergencies should in case one or two arise. And channeled to either of the three: spend, save & invest, if no emergency that month. But I'd rather build my emergency portfolio with the 10% and appropriate when there is need. |
| Re: See The 5 Rules Of Spending by BuharisBoy: 7:45pm On May 25, 2021 |
emmnprince:
Let's say the 10% should be for emergencies should in case one or two arise. And channeled to either of the three: spend, save & invest, if no emergency that month.
But I'd rather build my emergency portfolio with the 10% and appropriate when there is need. good but you have savings for emergencies, if no emergency in that month you add it to the savings |
| Re: See The 5 Rules Of Spending by emmnprince(m): 7:48pm On May 25, 2021 |
BuharisBoy:
good but you have savings for emergencies, if no emergency in that month you add it to the savings Noted! 1 Like |
| Re: See The 5 Rules Of Spending by EverythingFit: 8:15pm On May 25, 2021 |
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| Re: See The 5 Rules Of Spending by Mryacks: 2:57am On May 26, 2021 |
Vipro:
Success and financial stability does not depend on how much a person earns but on how much he can keep.
Successful people are those who have the ability to save money. In this article we want to highlight some of the rules of Spending which will enable readers to attain financial stability.
Rule 1. Do not spend more than your income: Spending more than ones income leads to bankruptcy. Bankruptcy is a situation whereby one indebtedness is more than his assets. The major cause of this situation is spending more than your income. Perhaps you do not know what bankruptcy law says in this country. It is very bad to be bankrupt. Remember investments are made from saved income, so no savings no income.
Rule 2. Never spend in anticipation of income: It is not proper to spend money in anticipation of income. Many civil servants spend money on food, clothing and other wares with the expectation of making payment when salaries come. This situation is very dicey, especially these days that salaries do not come as expected. Always follow the rules of spending with what you have at hand unless when life is threatened. Remember the adage "cut your coat according to your size"
Rule 3. Always make a budget: A budget is a written plan showing expected income and expenditure. Wise people prepare budgets as a guide to expenditure. If you follow your budget, you may not spend what you have not earned and you will always be at peace.
Rule 4. Do spend money to impress others: A lot of people spend money to impress others. They splash money in ceremonies just to impress their viewers. This is a dangerous habit, we must always consider our income first before we engage in spending spree. Because if you don't have money, you will realize that the poor man does not really have a friend.
Rule 5. Don't be afraid to spend: What we have said so far may be misunderstood by some people as becoming stingy, stingy people hardly get rich. Modest people at least remain financially stable. If you are afraid to spend, you make money your master but if you spend carefully, your money remains your servant.
If you want to thrive, don't neglect these 5 rules of spending. Valid points |
| Re: See The 5 Rules Of Spending by Psoul(m): 10:34am On May 30, 2021 |
Vipro:
Success and financial stability does not depend on how much a person earns but on how much he can keep.
Successful people are those who have the ability to save money. In this article we want to highlight some of the rules of Spending which will enable readers to attain financial stability.
Rule 1. Do not spend more than your income: Spending more than ones income leads to bankruptcy. Bankruptcy is a situation whereby one indebtedness is more than his assets. The major cause of this situation is spending more than your income. Perhaps you do not know what bankruptcy law says in this country. It is very bad to be bankrupt. Remember investments are made from saved income, so no savings no income.
Rule 2. Never spend in anticipation of income: It is not proper to spend money in anticipation of income. Many civil servants spend money on food, clothing and other wares with the expectation of making payment when salaries come. This situation is very dicey, especially these days that salaries do not come as expected. Always follow the rules of spending with what you have at hand unless when life is threatened. Remember the adage "cut your coat according to your size"
Rule 3. Always make a budget: A budget is a written plan showing expected income and expenditure. Wise people prepare budgets as a guide to expenditure. If you follow your budget, you may not spend what you have not earned and you will always be at peace.
Rule 4. Do spend money to impress others: A lot of people spend money to impress others. They splash money in ceremonies just to impress their viewers. This is a dangerous habit, we must always consider our income first before we engage in spending spree. Because if you don't have money, you will realize that the poor man does not really have a friend.
Rule 5. Don't be afraid to spend: What we have said so far may be misunderstood by some people as becoming stingy, stingy people hardly get rich. Modest people at least remain financially stable. If you are afraid to spend, you make money your master but if you spend carefully, your money remains your servant.
If you want to thrive, don't neglect these 5 rules of spending Your Rule 2 and 3 are contradicting themselves. You can make expenses on expected income. There's nothing wrong wt that so long as you're prudent in doing so. You talked of budget. Most budgets are based on expected income. So one can finance his budget but even borrowing hoping to offset the bill wt expected income. |
