I AM YOUR TARGET TUESDAY
A few more days and we step into the much awaited 2016.
By now, I believe everyone must have developed their goals; financial goals in particular. If you haven’t, please read through everything we have discussed on this forum and glean ideas from the many words of wisdom from everyone who has shared with us.
A quick recap of some of our discussions is that to be financially healthy, your income must exceed your expenses per time. If not, you’d be swamped in debts and indebtedness comes with so much stress. More often than not, I’d advise everyone’s main financial goals for 2016 should be increasing income. You’d agree it’s hard to reduce expenses, especially when they are the basic things. For example, after cutting out wastages, how do you cut down your food budget (after minimizing eating out as much as possible)?
Let me introduce a few friends you should have/be careful of in 2016. They are all areas you service from your Income.
1. Saavy Savin-come
This lady is one of the most prudent friends one can ever have but unfortunately, a lot of people don’t make friends with her because they think she’s not a necessary buddy. I find her to be the most important financial friend you can have. Her demands are never excessive but her availability; especially in dire moments is golden. The importance of savings can’t be overemphasized. Based on your current income, how much would you want to have in savings by the end of 2016? Put it into writing in a financial plan and sign beside it.
2. Biggy Budgetin-come
He’s an old man that has mentored a lot of people for decades and centuries. He’s wise, he’s knowledgeable, and versatile. He knows everything about your finances and he guides you through staying financially healthy. Because of his constant nudge, people thinks he hounds a lot but no, he’s only seeking to keep people on track.
3. Super Spendin-come
This man is the most demanding and trickiest of all the financial friends you can have in 2016. He plays one of the most important roles in life and because he knows people can’t do without him, he blackmails, he harasses and oppresses. Take spending away, then there’s nothing to life. As long as there is breath, we must spend. Unfortunately, life doesn’t want to know if you are earning nothing or little, Mr Spender will always place demands on you. He’s the most demanding and choking, the trickiest person but he can indeed be tamed and mastered. He has many protégés like buyin-come, eatin-come, travelin-come, partyin-come etc but they all can be smartly controlled. Check how and what you spend your money on. Are you at Mr Spender’s beck and call or do you have firm control on him?
4. Industrious Investin-come
Send your income on an errand with this guy. He’s wise and most times will give you profit on your money; except you don’t do your due diligence and send him to the right places but He’s generally a reliable person.
5. Generous Givin-come
Quiet but very rewarding gentle man; He’s firm and principled. When you befriend him, he nudges you to look around and be of help. He keeps you happy and cheerful because it is indeed a blessed thing to give. How many people realize they have an inner joy and satisfaction giving people; especially the needy? There’s a natural and spiritual law that this guy operates with- He makes sure you get back what you give; good measures all the time.
6. Thankful Tithin-come
Don’t move a day in 2016 without this friend. He usually is mentioned once a month (or as your income is made). He is a friend expressly recommended by the bible. A lot ditch him because they feel they don’t even have much but when you make him No 1, you attract God’s attention over your finances. Tithing is one of the most important things we MUST do with our finances in 2016 and beyond.
7. Tapping Taxin-come
Last but not the least; even if you don’t want to befriend him, he’s made your friend by force by the law. Employees are made to befriend him without hassles, whether they like it or not. The tricky part is with business owners /entrepreneurs. People make you think you can cut corners. Please do things right in 2016!
In one of the pictures below is a general budget percentage that you can take a cue from. It contains a few expense heads. You can amend the budget heads to reflect your reality. Why don’t you also make a detailed financial plan/commitment; identifying areas you need to improve on? See a sample.
Get more financial calculators and tools on our website for your use!
Wishing us a most financially healthy 2016!
Sola Shiphrah Adesakin
On a daily basis, we feature words of financial wisdom from different Smart Stewards members and sometimes from Guest Contributors. You'd be glad reading them. Enjoy!
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