5 Ways To Go Broke Under A Year In Nigeria- Part Two

posted on Mar 30, 2022 |   623 likes

It is one thing to complain about being broke and another to realize that you might have contributed to your predicament. Acknowledging is not enough; you need to act.

5 Ways To Go Broke Under A Year In Nigeria- Part Two

Changing the Situation

Coming out of being broke requires a lot of self-discipline, or else it is just going to be wishful thinking. If you are ready to change the situation, here are a few things you may need to do.

1.     Change your mindset

It is the first step and arguably the most essential part of learning to get out of Brooklyn city. There are chances that if you are broke, it has a lot to do with your mindset.

Saying words like there is nothing I can do about it will make you feel like you are not in control. There is always something you can do.

Another mindset that needs to be changed is I am not as bad as Kunle. Well, your case might not be as bad as your neighbor’s, but that does not ignore the fact that you are still broke. Broke is broke, no matter the degree.

2.     Stop competing

It is that simple. Stop trying to impress people so much that you put a strain on your finances. Live within your means, not your wishes.

If you want to achieve financial freedom, realign your focus towards achieving your goals, and sooner than later, you will also be able to ‘ball’ like the rest. 

Try spending time with more frugal people. If you are always around people who spend money carelessly, their habits will likely rub off on you.

A Must-Read: How to Live Within Your Means

3.     Create a budget

This might come off as a cliché, but there are no truer words. A budget is a beneficial tool in digging your way out of being broke.  

Start by making a list of your income and expenses. To get a clearer picture of your spending habits, analyze your bank statement to see where all your money goes. This way, you can see the areas to cut back.

In addition to budgeting, is choosing the right budgeting method. We have prepared this article to guide you.

4.     Avoid impulse buys

Always planning your purchases will help you manage your finances better. Make a list before you go shopping and stick to it.

When tempted to make big purchases, take some time to think about it. Your urge to buy unnecessary items will likely wear off after several days.

5.     Seek financial advice from experts

In today’s ever-changing economy, it is important to get experienced guidance to help secure your financial future.

A financial adviser like Page Financials will work with you to understand your situation and unique circumstances and help you develop a detailed road map to help you navigate your journey to wealth creation.

Some of the areas Page Financials will help you with are:

·         Developing a savings culture

·         Identifying legit investment opportunities

·         Providing access to quick funds at competitive rates to finance your long and short-term projects.

Rounding up

It is one thing to complain about being broke and another to realize that you might have contributed to your predicament. Acknowledging is not enough; you need to act.

Emergencies can spring up at any time, and in such situations where time is of the essence, having limited funds can be frustrating. But it does not have to be so.

At Page Financials, you can access up to a 5-million-naira loan in just a few hours to sort your time-bound emergencies and projects.

To apply, visit www.pagefinancials.com/registration.  For further inquiries, you can send us a mail at customer@pagefinancials.com or call us on 017007243.