Managing finances of is a very vital step to acquiring and maintaining wealth. Unless you plan your money well, even making more of it will not be helpful. A lot of people who are in debts today did not do so because they lacked money, but on a larger scale, did not plan and managed their money well. Though many today have gained a lot of financial literacy, there is still a good chunk of the population that still needs to be drilled on how to better manage their finances and plan for a better tomorrow. Like Robert KIYOSAKI once said, "Making more money will not solve your problems if cash flow management is your problem". A lot of businesses, projects personalities, and even families have crashed today,thanks to financial mismanagement. You can testify with me that Dangote, Baba Danpullo, Tony Elumelu and others will not be where they are today if they did not plan their finances well. Trust me, financial prosperity will remain a dream if you do not learn to constantly plan and manage your money. If you earn and are still wanting on how to be smart with money, worry not because we are here for you. Here are some tips on how to go about it.


This is one of the surest ways of managing money. This scheme works for everyone, nor matter the your income level. I know you will think about the stress of opening a bank account or a micro finance account but hey! let me tell you something; if you can do that fine, but if you cannot, you can still save from the comfort of your home. You can get a piggy bank, a save, or a partitioned savings book. For others, it can be a deposit account,pension account or an investment fund. But just so you, it is one thing to want to save money, but it is another thing to actually save the money. For you to effectively save, you have to look at your income, evaluate your expenses, include savings in your budget, determine a fixed amount and then, make your savings automatic. Also, do not forget to build up emergency savings for unexpected events.  Try this and watch your cash flow. Keep this in mind, " Do not save what is left after spending, but spend what is left after saving" .


Saving your money is good, but investing that money is even better. Investing is a potential way of building wealth as this is a highway to a regular flow of income. If money stays in the save, piggy bank or bank account, it is not put to work, but on the contrary if it is invested, regular profit starts coming in and also investors can reach their goals faster. You do not necessarily have to venture into big things, No!. It is one step at a time. You can start a small restaurant, mini importation business, salon, home delivery service, an online business, crypto currency, real estate, bookshop just to name a few. You can also invest in high-yielding savings accounts, money market funds, savings bonds, corporate funds, workplace retirement account, buy rental property, build property or even invest in yourself through education or learning a skill; but i must tell you, investing is a journey of self discovery as it reveals your relationship with money, your tolerance for risks, and your ability to stay disciplined in the face of uncertainty. However, do not let the risk part scare you, life itself is a risk. Investing is a journey worth embarking on. You will notice this if you take a step today.


Protecting your finances is something you will not want to flip on. Having financial security also means having peace of mind because you are debt-free and have money for emergencies. Some of the ways through which you can secure your finances is by insuring your assets and life which protects anyone who depends on you financially in case you die,income protection, going in for family income benefits, critical illness cover. By doing this, you can confidently plan for the future without necessarily having to worry about what will happen to your loved ones in case of sudden death, or if your assets get burnt or better still if there is severe illness, because all of that has been secured financially.


Managing your money means being able to have a steady flow even after retirement. This involves determining and working towards retirement income goals. It is never too early or too late to start planning for your retirement, so do not think you are either early or late. Whatever your timing is, just know it is perfect. The goal is to achieve the income goals. The best way to ensure a secure, safe and fun retirement is by implementing a retirement savings program, sizing up expenses, and investing;not forgetting to get insured.

Hope you learnt a thing or two from this write up. Remember the most difficult step is always the first. Hop on this financial management journey and watch how the magic unfolds.

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