Top 3 Reasons People Go Broke Before Month End - How To Avoid It

1. Inability to Differentiate between Needs & Wants

Yes, you've got to live a good life but the ability to differentiate per time what is a need and want will keep you from carrying an empty pocket and ending in
desperation and debt.

2. Depending on one source of Income.

Creating a passive income is one of the ways to avoid going broke.
But sadly many people prefer spending money on several things that won’t put money into their pockets.

3. Ignoring Savings

It is very difficult to pull money together and takes a great deal of discipline to achieve.

 It is however very easy to blow it all off in just one moment of spending "madness"

First, work at your savings. Cut your expenses starting from now to allow you save at least 10% of your income every month.

 Just put it aside and forget it. If you save
10,000 Naira per month, you will have 120,000 Naira in a
year, which is better than having nothing.

Thanks😇😇

Author: Obi Joseph Cjec, A 400L Student of Federal University of Technology, Owerri.

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