INTRODUCTION

Hi everyone... It's glad to be here. I wan to postulate a bit on what has been a basic problem for most people in our society today. It has been generally believed that no amount of finance and wealth could really satisfy someone, but recently, the situation of every economy is causing a great deal of confessions by folks who seem to be struggling to feed.

Let me use this opportunity to brief you on how you can live a life of financial satisfaction in a poor economy.

INCOME ANALYSIS

One important step to take in becoming financially satisfied is analyzing the income one receives. Our sources of income are very important to us, so we need to maintain a steady relationship with it, but most importantly, prioritize where the income is heading to.

When you get paid, calculate how much you actually earned that period by subtracting the expenses you have made that week or that month from the income you received totally. This will give you a net result of what your profit is. The result of analysis of income is called profit. And this Profit is what we work on while making savings, footing unplanned bills, and making investments.

KNOWING LIMITS

When your profit is obvious to you, another challenge that comes your way is minimizing expenses. Due to inflation in Nigeria and other high ranked economic countries, there has been a great challenge in equaling expense to profit. Therefore, that is where priorities and contentment comes in. The more you distinguish between your needs and wants, the better you realize what you should spend on, and when you should spend on it.

Another important aspect of knowing our limits is being able to say no to side expenses that would throttle our plans to save and invest. Say no to unplanned unnecessary spending.

LIFESTYLE

Most people say that our lifestyle determines the amount of money we spend. This is the main reason why people who live a faked-wealthy lifestyle never seem to be happy. They fake their lifestyle but can't afford to maintain the streak of expenses involved in outward appearance, feeding and shelter. This shows that a wealthy lifestyle is valid for a wealthy source of income.

Nobody will pay you extra for showing off your wealthiness. An ostentatious lifestyle will only make you to spend more to impress your fans and admirers. You will always have in mind to satisfy their eyes and mind at your own expense. What a poor mental disposition 😕.

To be contented, simple and happy, keep your financial success to yourself and work hard to invest. A quiet lifestyle pays with peace of mind while a showy display of wealth pays with more expenses and depression. This fact can never change. It's static.

THE POWER OF SAVING

"A dime saved today can yield 20 pence in the future"

This statement was made by one aged father to his 12 year old grandson.

Logically, this statement looks old and reserved, but come to think of it, if I put away five pieces of 100 dollar notes in 2010, when 1 dollar was worth 230 naira in Nigeria, and eventually decided to exchange and spend them in 2022, do you know how much it is worth now? One dollar now in naira is around 600 naira. Do the calculation and see what I have now. The main reason why I tagged this subheading, "the power of saving" is because, the negative factor called inflation is apparently predicted to be continuous, but we can take advantage of it and save now, to make profits in the future.

Saving gives you an opportunity to plan for the future in a practical way and implement strategies to accomplish your plans. Saving also makes you discipline and focused.

Try to save at least 20% of your income per month, see how long you can hold it up, and when it seems you can no longer save, invest with the ones you've saved. Don't spend your savings on unnecessary debts or expenses. It is painful. Increase your rate of savings as long as you're successful in the savings routine you created. Also, make sure to double to your hustle in order to triple your savings 😁.

INVESTMENT IS MAGICAL

Investment is the financial application of sowing to reap. You don't reap only one maize from planting a single maize grain. You get the point now right? No much explanation is needed to emphasize the magic of investing.

Things you can invest on

• Yourself
• Your Family members
• Your business
• Your land
• Your Children
• Your income

The most important places to invest on are yourself, your business, and your income. If you invest on these, the returns will be magical enough to further invest on the others. Were you surprised when I said you can invest on your income? Don't be. Ask crypto traders and foreign exchange Investors what I meant by that. 😜.

CONCLUSION

It doesn't matter whether we are in a new year or not. We just had a change in date, which occurs every single moment. To enter another year, our planet just has to make 365 spins within its axis around the sun. It's nothing too spectacular to ponder on. Never let change of dates make you feel that you ain't getting better. Rather, put more effort to become financially successful and satisfied. Implementing these practical tips will help.

I'm stopping here. Thank you for reading my posts. I will be back next week with the second edition of this topic in a more intriguing way.

Special regards to:
@focusnow,
@steemalive,
@ngoenyi,
@whitestallion
@bright-obias
@beautybb
@ijelady
@peterabagi
@mikemm
@sammylove
@ninapenda