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Saving money has its own bottleneck, and that brings us to the topic of this post, “SAVING MONEY CHALLENGES”. In this post, I will outline and explain the various challenges you may encounter in saving money. Knowing these challenges will help you reduce their impacts and thus execute your savings successfully. saving money challenges Responsibilit ies As every adult receives a paycheck, bills to settle are already piled up. If the money you get can’t settle your bills and your needs before the next pay, that will be a saving money setback. But don’t be discouraged. Save as little amount as you can. What’s important is you are on the right path. Lack of budgeting Budgeting solves lots of problems. It helps you to estimate how much will be enough for shopping, bills and more. Money that you didn’t give a name will finish without a trace. It’s a guide that tells you not to spend too much on a particular thing. Unrealistic goal setting Starting off savings w...

Saving money has its own bottleneck, and that brings us to the topic of this post, “SAVING MONEY CHALLENGES”. In this post, I will outline and explain the various challenges you may encounter in saving money. Knowing these challenges will help you reduce their impacts and thus execute your savings successfully. saving money challenges Responsibilit ies As every adult receives a paycheck, bills to settle are already piled up. If the money you get can’t settle your bills and your needs before the next pay, that will be a saving money setback. But don’t be discouraged. Save as little amount as you can. What’s important is you are on the right path. Lack of budgeting Budgeting solves lots of problems. It helps you to estimate how much will be enough for shopping, bills and more. Money that you didn’t give a name will finish without a trace. It’s a guide that tells you not to spend too much on a particular thing. Unrealistic goal setting Starting off savings w...

Today, I'm going to share some money-saving tips for moms. As someone who has lived in Africa since I can remember, I can confidently tell you that things are not as they use to be. For instance, inflation in Nigeria and Ghana as of today is 16.7% and 13.9% respectively compared to a few years back when it was a single figure. The price of food and other commodities has gone quite high with salary earners struggling to survive. I have always lived a frugal lifestyle and inflation has even made me become more economical. I know I'm not cheap, I just don't like to spend money on unnecessary things. Here are some tips on How to Save Money on Grocery. 1. Ditch your fancy supermarket for a farmer's market: We all like the comfort of shopping in a serene environment with the air conditioning and cool music playing in the background. It's a sweet experience and that is why you are paying a high price for a tuber of yam you could have bought for half-price at...

Today, I'm going to share some money-saving tips for moms. As someone who has lived in Africa since I can remember, I can confidently tell you that things are not as they use to be. For instance, inflation in Nigeria and Ghana as of today is 16.7% and 13.9% respectively compared to a few years back when it was a single figure. The price of food and other commodities has gone quite high with salary earners struggling to survive. I have always lived a frugal lifestyle and inflation has even made me become more economical. I know I'm not cheap, I just don't like to spend money on unnecessary things. Here are some tips on How to Save Money on Grocery. 1. Ditch your fancy supermarket for a farmer's market: We all like the comfort of shopping in a serene environment with the air conditioning and cool music playing in the background. It's a sweet experience and that is why you are paying a high price for a tuber of yam you could have bought for half-price at...

Saving money requires conscious effort to achieve. It’s an important decision to take towards attaining a financial goal. Here are some tips on ways to save money like a pro. 1. Track your expenses. When I decided to save money, the first step I took was to track all my expenses. Both daily, monthly, and some that come up once in a few months with pencil and paper. You can use an app for this purpose, and some bank apps have the option. At the end of the month, I could tell how much I spent and how much I can send to my savings account. 2. Save an emergency fund. The best place to start is by saving money for unforeseen circumstances. At least $450. It should be kept where it can easily be assessed when emergency calls. It should not be invested. 3. Set an automatic transfer of income to your savings. If you have decided to save $100 let it automatically be sent to your saving, so it can be out of sight. Most banks offer these services, and make good use of t...

Saving money requires conscious effort to achieve. It’s an important decision to take towards attaining a financial goal. Here are some tips on ways to save money like a pro. 1. Track your expenses. When I decided to save money, the first step I took was to track all my expenses. Both daily, monthly, and some that come up once in a few months with pencil and paper. You can use an app for this purpose, and some bank apps have the option. At the end of the month, I could tell how much I spent and how much I can send to my savings account. 2. Save an emergency fund. The best place to start is by saving money for unforeseen circumstances. At least $450. It should be kept where it can easily be assessed when emergency calls. It should not be invested. 3. Set an automatic transfer of income to your savings. If you have decided to save $100 let it automatically be sent to your saving, so it can be out of sight. Most banks offer these services, and make good use of t...