

WHAT DO YOU SPEND YOUR MONEY ON?
With the start of the new year and energy boost, many of us are filled with aspirations and ambitions to enhance our financial standing. However, to be able to do that, it’s crucial to take a moment to reflect: what do you spend your money on? The reality is, if we don’t actively work to change our current financial habits, nothing will change in our lives.
Do you know it’s easy to fall into a cycle of consumption if you don’t address it matter of factly, especially when it comes to our wardrobes filled with shoes, bags, and clothes. The allure of new trends and the desire to appear affluent can lead to endless spending. You may subscribe to numerous streaming services, enroll in various entertainment platforms, and yet still find yourself yearning for more. This insatiable craving can create a financial drain that prevents you from achieving your goals.
If you’re over 40, then you need a financial wake-up call; as this is the perfect time to reassess your spending habits. The urgency to secure your financial future grows with each passing year. While looking good and feeling confident is important, it’s equally vital to consider the long-term implications of your spending.
Consider implementing a new strategy this year: put a lid on those cravings. This doesn’t mean you should stop investing in yourself, but rather that you should prioritize where your money goes.
Some actionable steps to redirect your finances toward growth:
Beyond wishing and talking, apply the below steps:
1. Invest in Yourself: Instead of splurging on temporary pleasures, invest in courses or workshops that can enhance your skill set. Knowledge can open doors to new opportunities, potentially leading to increased income.
2. Start Investing: Explore stocks, mutual funds, or real estate. Even small investments can grow over time, compounding into significant wealth - put your money to work. The earlier you start, the better.
3. Save Wisely: Allocate a percentage of your income to savings. This safety net can provide peace of mind and serve as a foundation for future investments.
4. Cut Unnecessary Expenses: Review your subscriptions and memberships. Are there services you rarely use? Cancel them and redirect those funds toward something more beneficial.
5. Create a Budget: Establish clear spending limits for different categories. This helps ensure that your financial resources align with your goals.
Above all, Be Wise and Focused!
As you navigate your financial journey this year, keep an investment-focused mindset. Consider the long-term benefits of your spending choices rather than the fleeting satisfaction they provide. Embrace the discomfort of delayed gratification for the sake of building a stable and prosperous future.
So what are you committing to change today or better still, to start doing? I’m eager to hear about your testimonies of change: how you adjusted your spending habits and what new financial strategies you embraced. Real growth comes from making wise decisions today that will yield benefits tomorrow. Choose to make this year a turning point in our financial stories!
See you at the top.
Sarah Ogah
