STRATEGIES FOR LIFELONG FINANCIAL WELLBEING

One of the things I learned about finance from my mother is never rely on one source of income especially if you are a government worker and do not eat all your earnings at once, there is no time, or day you call my mother for assistance that she will not render, she has been a role model to me on how to save and not to be extravagant.

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I love to be a minimalist when it comes to issues of finances, even our economy in my country will humble you when it comes to spending, I believe we should always have savings and always think ahead of a time when there will be no means for you except that money you have saved.

I would love to use my neighbor as a case study, the wife was pregnant and she gave birth last week, there was no plan for the baby at all, they didn't buy anything except a few things like baby cream and soap, but this man can fuel his car two times in a day when the wife was pregnant but I was surprised to hear the wife complained when I went to congratulated her.

The man was lamenting about not having any money in his account but I was thinking that you know your wife has been pregnant for nine months without making a proper arrangements for the child, and now they are buying one Pampers every day which is not supposed to be so.

This applies to finances, always invest the little you have so that it will yield more interest, spending all our savings is not encouraging at all, I regretted my actions about six years back, I was staying with my Aunt and she was someone who gives me money every time I asked from her, she is never stingy or asks what I wanted the money for, I do spend lavishly, buy clothes, shoes, all types irrelevant things, one day a friend of mine chatted me on Whatsapp and said something about Ethereum, he makes me an offer that I should buy the token that year and he will help me and monitor it, I declined totally and I have enough money to invest in the coin but I did not.

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I am sure we all know the worth of Ethereum now, my friend invested in this coin and now he has finished building his house, we now call him lord of crypto, he didn't search for a job after graduation, and he owns a crypto school now in my city he invested in many coins that year but he majorly deals with Ethereum, I am now regretting why I didn't invested my saving that year, though I was discouraged because of all this Ponzi schemes but I should have taken the risk year.

I once had the mentality of spending the little I had because if I died today another person would squander all my effort but here I am today, I have changed that mentality and started working on myself, started investing my money for more profits, started savings and making a different contribution on a different app.

Savings helped me last year, I invested in a coin and I was so stranded to the point that I was thinking of borrowing from the loan app, one particular day I was just checking my Binance app and I saw that the coin had skyrocketed, I never believed my sight, I immediately exchanged the coin to usdt and sold it, that was how I saved myself from being broke that year.

I have different apps in which I save my money if I do not want to save in banks because of their unnecessary charges, I have Cowrywise and Piggyvest these are the two online apps I can recommend because I have been using these apps for over two years and they are legit and gives interest for saving with them.

Let us inculcate the habit of saving, and invest the little we have so that it can yield more profit in the future, it is very good and profitable to save.

This is my entry for this week's episode of hivelearners community prompt of #hl-w116e1 which the topic is "FINANCIAL LITERACY"

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