How do you effectively manage your financial life

[Adventurer]

With everything going on in the world right now . Businesses having to shut down due to covid . How do we build on the little capital we have?

It's a difficult period but what I'll advice businesses to do is go online , it maximises your sales, ensure you've got SEO on your website so people can find you easily

 

[tyrim88]

One thing that kept me going during the lock down was the opurtunity of going into edible vegitable cultivation as we were not allowed to move,Within 2weeks and with little capital and source of water i was able to harvest and start sellling.

 

[nimzy]

due to the economic situation of my country Nigeria this day is quite becoming very difficult to coup up with because business were really affected due to covid 19.

 

[Setfragil]

With many businesses being closedown and many people losing their jobs. One will have to set up a scale of preference to avoid things he or she does not really needs in order to save more costs. This will help us to manage our financial life easily.

 

[GIFTMICHAEL]

Its never easy, but gradually I'm managing, and saving some for emergency relief funds. No one knows how the future will be. Another uncertainty might still appear like how covid19 is ravaging things.

 

[Mostee501]

Due to the changes in the business world due to the pandemic disaster, people need to re-strategise in other for adequate management of the little finances coming in.

 

[Kelly5]

With all that is happening to investment and businesses all around the world as a result of the covid19 impact, I don't just run or rush into investing in anything that appears juicy because I think I am now very deciplined when it comes to making hasty choices about businesses

 

[FreshKaz11]

With everything going on in the world right now . Businesses having to shut down due to covid . How do we build on the little capital we have?

During the pandemic lockdown I make so much money with the capital I kept for my business,what I did then was that I got a kiosk and I start a POS business which people do come to withdrawn money from me and I gain more and more profit then.

 

[Gandiba1]

We are in a generation that we have to be very wise in spending i.e you don't buy or spend on unnecessary things

 

[Kunkun]

For me, savings is a good way to manage ones financial life. Savings then making the right investment. There can't be no income like passive income so it's what everyone should strive for and to have a steady passive income, some saving sacrifices would have been made followed by the right investments

 

[Senator]

In managing my financial life, I make sure all accounts relating to my businesses are separated form those that are non business accounts. I plan a budget of spending for my personal needs from my non business account

 

[Trexxxy]

For me, savings is a good way to manage one's financial life. Savings then making the right investment. There can't be any income like passive income so it's what everyone should strive for and to have a steady passive income, some saving sacrifices would have been made followed by the right investments

I agree. I think is important to have a steady cash flow as well as assets and portfolios. The right investments are key to securing one's financial future.

 

[nimzy]

In managing financial life in a situation like Nigeria were the economy is falling apart and favouring the few privileges in the society my advice is the ability of a person to set his spending from the little available resources he has at hand.

 

[Abigael]

For me, savings is a good way to manage ones financial life. Savings then making the right investment. There can't be no income like passive income so it's what everyone should strive for and to have a steady passive income, some saving sacrifices would have been made followed by the right investments

I agree with you on this. Investment is very good for a good financial life. You need the passive income in order to keep your finance stable. But you should be careful where you invest in order to avoid losses.

 

[Shigobad20201]

I agree with you on this. Investment is very good for a good financial life. You need the passive income in order to keep your finance stable. But you should be careful where you invest in order to avoid losses.

If you want to be financially fit and not decapitated, you need to engage yourself in saving for the future/dry season, to keep your financial life stable , saving aspect is the sacrifice you need to take

 

[Ayokex]

What I do living within the limit of my financial capacity. I don't compare my life with that of another and I ensure that I'm satisfy with what I have. Managing ones financial life is very easy, just base all your expenses within the limit of your income.

 

[Sheyemanu]

Well in reply to your question in the above post concerning how does one effectively manage his or her financial life, well i have to say first of all that you should try to read some financial books as that will give you some financial education

 

[Setho]

I think I am still in the journey to financial efficiency. Over the past couple of years, it has not been like this but now, I save more and have projects in mind.

 

[Setfragil]

Businesses are been shutdown due to the pandemic has taught us how to diversity our businesses to make profits. To build on the little capital that we have, we must learn to do things in different ways especially through the use of technology to advertise and market our products.

 

[Setho]

Your journey to being financially free is one that you will have to be very conscious and intentional about it so you should save more .