Healthy Money Habit Keeping Me Out Of Lack

Growing up in home where the dad isn't so careful with his finances so long his children are comfortable and getting most of what they want, I had a different idea of how to handle my finances until I left home to live with other people and also have to take care of myself.

When it comes to money, people have different approaches to how make it work for them whether for good or for bad. I have learnt so many lessons from different people but mostly the ones who really do know what it means to own and spend your money wisely (financial literates).

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From what I've learnt so far, so many have worked well for me and some I couldn't keep up the discipline to see if it works for me. For the ones that have worked, I'd love to share them whenever I get a chance to like this. One thing I've noticed about financial lessons, they tend to work for as many who decide to do it.

Money lessons are not the ones we say "What worked for Mr A may not work for Mr B", the difference here is the level of discipline applied by Mr A and Mr B. This is the part that is makes the world of money having different set of people... The rich, the poor and the average.

There is one law I learned from a close friend some time ago and that has been helping in my financial life, keeping me very far from lack... Spend Less Than What You Earn.

Even before I started earning, I had an idea of this rule and was living by it but not as disciplined as I became now that I earn and I'm trying to make a better future for myself. Dealing with money is really not easy, I've had so many situations that taught me better lessons and over time, I'm doing better to avoid going broke.

The main reason we work hard to make money, save money or invest money, is to avoid going broke or living a financially free life. One of my hack in achieving this is what I've stated already... Spend Less Than What You Earn.

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First off, I get in account what I earn and how well it is increasing or if bad, it is decreasing to create a balance to my expenses. I try my best to always have my expenses lower than my earnings and this is done in many ways which I learned from people and I'll share here.

Buying Items In Bulk: This is about me buying things in huge amount and keeping them at home to use them judiciously and with care so I can be free from buying things randomly that could harm my finances. This also helps me fight against inflation to a large extent, especially in my part of the world where things just keeps getting expensive within few weeks. I buy things in bulk and save extra cash that way.

Buying What I Need: Even though there are times I satisfy my cravings and spend a few cash randomly and unnecessarily, I have a lot more days where I buy only what I need and it's been helping my finances a lot. While this helps saves my money, it also helps me stay focused on what I need as a human and not get jealous of what others have (contentment I'd say).

Investing More Than Saving: This may not be directly part of spending less than I earn as the rule but it has played a huge part of me being able to live less than my earnings. It's all thanks to Hive for teaching me better and even now than before, I've been finding better ways to invest while spending wisely.

These are only a few I can share now but they have helped me greatly in staying out of lack. What do you think about this rule?

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