10 days on Personal Finance🤑🚀


Develop strategies to manage your money and achieve financial freedom.


1. Understanding how you earn money.
Identify all your sources of income and how they function in making you money, with this knowledge, you can track your finances and make informed decisions while improving your market value.

Tip of the day: You can also diversify your income, and turn your talents into extra income by starting a side business.

2. Budget Your Earnings.
A budget shows how much money you make and all the expenses over the budget period. Devise a plan to live within your means and write out your annual budget plan, detailing all intended spending, investments and savings, this acts as a guide for both short and long term goals.

Tip: 50/30/20 Budget — 50% Living expenses(rent, utilities, transport)
30% — Optional expenses/Wants( Dining, shopping, Charity)
20% — Savings

3. Prioritize & Access
By assessing every expense or venture’s potential costs and benefits before committing, you can make better financial decisions. Identify your actual needs vs wants and learn emotional detachment to avoid being impulsive and going outside the budget.

4. Start Saving
The money you put aside after spending represents your savings and this creates a financial safety net. You can start small, however, save something and create an emergency fund for unforeseen events. By saving you pay yourself first for future needs or opportunities.

Tip: it is ideal to save at least 6-months of living expenses as a safety net.

5. Limit Your Debt Level:
Ensure not to spend more than you earn and in the case where you have to borrow, don’t borrow what you can’t certainly pay back. A good credit score means a lot when you need it, and bad debt management means bad credit.

6. Start Investing
Investing is allocating your resources with a high probability of generating good returns over a period. Your financial future depends on the investments you make, choose investments that give you a good rate of return but also measure risk carefully and diversify.

Tip of the Day: A list of safe investments to make today — Gold, Real Estate, Stocks; do your research.

7. Risk & Return
The risk determines the return when investing, assess your risk tolerance and decide what works best for you. Higher returns mean higher risk and low returns offer low risk of loss, however with investments such as gold, real estate e.t.c, you get high returns at low risk in the long run.

Tip: Avoid get rich schemes, if it sounds too good to be true, it is.

8. Insurance is a smart investment.
Insurance exists as protection from financial hardships caused by unplanned situations. You can insure your car, health, home, life, whatever is of value and with a high chance of loss, it acts as financial coverage for you and your family even in your absence.

9. Map Out your Financial Future:
With the understanding of what your income can do for you from your budget, draw out your financial plans for the future or any new ventures. You can have short- and long-term goals leading to your financial freedom and stay on track by practising self-discipline.

10. Educate Yourself More:
You can never know enough, global trends change the market and the types of investment suitable for you, study and research to remain informed.