Wednesday, September 28, 2022
spot_img

KOKO Money: Six Financial Planning Guides And Tips For Every Beginner

- Advertisement -

First of all, we’re so happy that you’ve made the decision to start anew when it comes to your money habits. It takes guts to finally search within yourself so that you can now improve on the areas you need to work on.

The world of finance can be very confusing though.

There are so many terms you will hear that you’ve never heard of but don’t be intimidated at all. Every dream starts from somewhere and you can always work your way to the top as you continue learning.

Here are some of the essential things you need to know as a beginner.

Couple counting money

Read Also: KOKO Money: 5 Things You Should Never Tell Your Kids About Money
1. Start with what you know: 
You don’t need to go to some fancy business school to learn about money. In fact, most of the lessons come from experiences.

For example, you know that saving is good and that being in deep debt is bad without going into too many details. You can also learn from others around you based on how their relationship is with their money.

The basics you know will go a long way in saving you from money mistakes. With time, you will need to do your own research so that you can expand your knowledge.

Also Read:  “There Is A Dichotomy Between Nollywood And Hausa Film Industry - Ali Nuhu

2. Find some mentors: Find experts who can give you beneficial tips about money. It could be a friend or a relative but just make sure that it’s someone who knows what they’re saying so you can avoid getting terrible tips.

Being around someone who has some experience is very important even when you’re past this beginner level.

They will give you practical perspectives that will allow you to put your knowledge into practice. Once you get that wisdom, you can pass it on and help someone else who’s now entering the beginner stage.


3. Beat one goal at a time: When you’re starting off, you can get too caught up with your future dreams without appreciating the stage you are in. If you’re not careful, you could end up getting stressed and wonder if you’ll ever be able to get that dream house or attend that college you’ve always wanted when you have just managed to save a few thousands so far.

Divide your goals into steps and learn to appreciate the small wins because that’s what actually translates into big wins.

Outbrain Advertisements


4. Escape the peer pressure: 
Good financial planning leads to success. And that success often brings in thirsty onlookers. Some people might hype you up with names like ‘sonko’ or ‘mheshimiwa’ and that can trick you into spending money carelessly, when you haven’t even made huge steps yet.

Also Read:  I Was Celibate For 3 Months, Sex Is Out Of It For Me - Skales

Many beginners never go past that stage because they fail to recognize that they need to change their mindset and be firm. A successful financial life calls for a renewal of the mind and a completely new lifestyle.

5. Work with plans: Good finances always go with proper plans. This is how you track your savings and expenses so that you can get a clear view of what you need to do.

Don’t just do mental calculations and assume that’s enough. You need to sit down and actually record your money movements properly.

You should also use apps as a way of keeping you on track.


6. Prepare yourself for the journey: 
Securing yourself financially is never easy. You need that mental preparation to keep you going as you embrace the ups and downs that will come your way.

If you’re expecting a smooth journey, you’re at risk of not being able to bounce back after setbacks.

Nurture qualities like discipline and resilience because those will be the roots that keep you moving.Photo Credit: Getty

- Advertisement -

Related Articles

- Advertisement -

Leave a Reply

Stay Connected

13,000FansLike
21,100FollowersFollow
37,000SubscribersSubscribe
- Advertisement -

Latest Articles