4 Money Management Habits That Will Revolutionize Your Life

Habits are the vehicles that convey us to our set goals. I find it almost impossible that anyone would accomplish anything worthwhile without them. Your routine is the pointer to your future.

The same way, your financial routine is an indicator of your future, financially.

How you subconsciously approach money management must align with the four underlisted practices, otherwise you could turn out to be a financial failure later in life. So here are four money management habits you should have no matter what:

1. Invest: No matter how mush comes to you, always make up your mind to invest a portion of it first. Buy stocks, treasury bills or simply invest the money in a business idea you have vetted properly. Investing money is guaranteeing you will have it in your future.

2. Save: You’ll need money before your investments begin to yield results and in the short term, your savings will be come in handy in case of any uneventuality, good or bad. Saving is putting money aside, either to invest or because of the unforeseen that may require you to handle.

3. Spend: After you have invested and saved, now you can spend. Be moderate about your needs particularly if what you have left after investing and saving  isn’t enough to buy that phone you have always wanted and cover your monthly expenses. 

4. Share: Make it a habit to set some money aside to share with people around you-after you have taken care of your own needs.  Sharing creates goodwill. And goodwill elicits cooperation and favorability.

Follow this order and you’ll always have money.


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