2022 has been a very tough year for personal, national and global financial management.

No matter what happens to the world’s economy, things may be bumpy, but you have to protect your finances and protect your wealth.

Personal finance puts you in the driver’s seat of your financial life and gives you the freedom to reach your goals. However, it is important to close loopholes and strengthen cash flow.

As we head into the remaining four months of the year and, ultimately, the new year, here are a few things that will help you effectively clean out your financial life.

Career assessment is an exercise to consider for the new year

According to Robert Kiyosaki’s Cashflow Quadrant, if you’re active in the employee quadrant, which means you have a job, it might be a good time to beef up your resume.

We want to be able to follow a good career path and generate income both in-season and out-of-season.

Do you have marketable, transferable skills and how easily can you change direction?

Consider adding another income stream

An asset is a resource that is owned by a person and has the ability to provide economic value. Examples of assets include investments and real estate. Income may not be classified as a traditional asset, but it is also a type of asset.

Learn new skills, evaluate existing skills, and consider ways to monetize some of them.

Work your way up to earn more income

Leveraging other people’s time, skills, or collaboration to create systems is kind of a business.

The world continues to witness profitable partnerships across sectors and continents at breakneck speed.

Who can you do business with and what can you do with them? Who can you work with? What are the conditions?

Read also: Halima Ibrahim Abba – Associate Vice President/SA to CIO of Africa Finance Corporation

Cash flow management is important

Expense management is where a big spring cleaning needs to be done.

Benjamin Fraklin said, “A small leak can sink a big ship.” Small purchases don’t necessarily lead to financial ruin. Problems start when they become regular and unimportant.

Don’t be stingy, but don’t be a spendthrift instead.

To create wealth, your income must consistently exceed your monthly expenses, and you must learn to put the excess (as assets) into savings or investments.

To maintain wealth, assets must always exceed liabilities.

Identify what you need and prioritize them. Don’t burn cash unnecessarily. Buying now and paying later is not always in your best interest.


Consider your financial options carefully. Learn to negotiate better and ponder your choices. Identify leaks and bleeders and take necessary action if necessary.

When you feel pressured to shop, apply the 24-hour rule. That is, give yourself 24 hours before buying her and see if you feel the same way 24 hours later.

When it comes to capital expenditures, weigh your options and see if you really need to buy one.

satisfaction is the key

This is where dealing with FOMO (Fear of Missing Out) becomes important.

Temptation is ever-present, and the “shiny object syndrome” continues to plague the world. Remember your financial situation when others flaunt their possessions online. And most importantly, remember what your current income is.

Don’t borrow to shine. A common slang used in pidgin is, “Let your shine shine, I let my shine shine.”

Count your blessings in all of that and hope for better days to come

Gratitude opens the door to more blessings. It helps you unleash the creative genius within you.

Sola Adesakin is a Personal/Business Finance Coach and Certified Public Accountant with over 20 years of practical experience. Through the concept of financial planning, she helps people understand the message of “make money, manage it, make it more” to help them maximize their resources, achieve important financial milestones, and achieve true wealth. Passionate about helping build.

She is a member of the Forbes Coaching Council and continues to leverage global alliances and partnerships to amplify the message of money around the world.

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