03/11/2025
1️⃣ Open a Separate Dedicated Account for Your Monthly Savings:
If you truly want to build a saving habit, don’t keep your savings in the same account you use for daily expenses. Open a separate account strictly for savings, preferably with a fintech bank for convenience and discipline.
2️⃣ Automate Your Savings:
This is very important. Set up automatic transfers from your salary account so that the moment your salary drops, your savings are automatically deducted and moved into your dedicated savings account.
3️⃣ Start Small:
The easiest way to stop saving is to set unrealistic goals. Don’t try to “feed a malnourished child in one day.” Focus on consistency. Start with an amount you can comfortably save, and increase it gradually as your income grows.
4️⃣ Cut Unnecessary Expenses:
Savings come from what’s left after consumption. One of the best ways to save more is to spend less. Reduce unnecessary expenses. The less you spend, the more you can save.
5️⃣ Consider a Side Hustle:
Your ability to save is tied to your income. The higher your income, the easier it is to save. So, explore additional sources of income. Think about what you can do on the side to earn more.
6️⃣ Set Clear Goals:
Have a reason for saving. It motivates you to stay consistent. Are you saving for emergencies, to start a business, invest, buy land, a laptop, home appliances, or something else? Be specific about your goal.
➡️ Saving is a sacrifice you make today for a better tomorrow. Start saving now.
✅ Note: You can book a paid one-on-one consultation session with me at any time to help you build a workable savings framework, set up your personal investment portfolio, or manage your small business. You can also register early for my upcoming November Investment Class.
©️ Abiodun Olusola
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⚠️ Copyright Notice: Don’t steal this write-up. If you share or repost it, please credit Abiodun Olusola as the author. This is my original work.
