“How can I save money with such a low income?” This is the wonder of the world of many persons who earn so little. For them, they can hardly eat good meals let alone the much-vaunted squared ones.

In all sincerity, if you had attempted to save money for a course, you would have realised that savings can be such a chore. It’s never easy. Just when you are trying to save some bucks, an urgent need comes tickling.

But do you leave savings alone? No. That would be to your own peril. When it comes to money generally, it’s important to not only think about the now but also the future. You want to save money so you can, at least, be on your path to building wealth which will help you make robust plans for the future.

In fact, many of the goals everyone has in life would only be realised if money is ploughed into it. Do you want to travel the world, marry and give your kids a brighter future? Or is it your dream home or car? It’s impossible to achieve all these, if you don’t have savings.

Interestingly, you can save even if you are surviving on a very low income. Just put your heart to it and be disciplined. You would be amazed how much you’d amass just by mere little drops.

Here are some creative ways you can go about it:

Stay Out Of Debt

Ever heard of the age long saying, “a borrower is a sorrower?” It has never been truer. When you are indebted, you’d constantly search for means to pay back. What does this tell you? Whenever your little income comes in, you quickly use it to service the debt. If you have ever been in such a situation, you would notice how quickly money leaves your hands. Therefore, try as much as you can to live only by what you can afford no matter how meagre. Have you even noticed that whenever you see your creditor, you don’t have peace of mind even if he only stopped by to say hello? That’s how unsettling debts can be. Stay out of it no matter how tough. If only you’d build and stick to a budget that allows you to save, you will conquer.

Cut Down On Your Housing Expenses

Many of us who live in Lagos can attest to the fact that we practically work for landlords in Lagos. How? Year in, year out, what we do is work and save up rent and by the end of the year, we would have serviced the ‘liability’ called rent. This is not to tell you to relocate and start living in the bus. There’s none in Lagos anyway.  But this is to advise you to rent a house according to your means. The credible rule of thumb is rent a house that your 2 – 3 months salary can pay the rent. If you had to live in an apartment where you’d always need to save one full year income to pay, then the apartment is too expensive for you.

Watch Your Spending On Groceries

This is another big money gulper. Groceries have the power to render you useless in life, permit the language. But that’s how serious the matter is. Ridiculously, there’s never enough budget for food stuff. Therefore, look for ways to cut your food spending. You can make your meal plan monthly and be disciplined enough to stick to it, come rain, come shine. Foodstuffs are really expensive nowadays. But there are ones you can run to if you seek to cut cost. Foods like beans, garri and sometimes vegetables would always be budget-friendly when compared to other foodstuffs because they can be filling. If you like eating out, then get preparing home meals.

Conclusion

Sincerely, if you could cut down your expenses in the above areas, the money could make a huge difference in the size of your savings and overall quality of life in years to come.

Go ahead and start practising these tips and very soon you would be able to boast of a fat bank account in Nigeria.

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Queen Nwabueze

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