Rinse and Repeat
Does "lather, rinse, repeat" sound familiar to you? If not, kindly pick up any bottle of shampoo and you will see those words. "Lather, rinse, repeat" have become an oft-quoted phrase when it comes to doing anything repeatedly. When you follow the same steps, you will get the same set of results.
We are five days into the month of May. Do you have your money matters on rinse and repeat? Or are you winging it?
For most of us, putting a structure to what we do can be hard. Scratch that! Actually, most people do not like structures of any kind. Life, in so many ways, runs better when there is order. The sun rises from the east and sets in the west. Human beings walk on their feet and not their heads.
You should apply the same principle of order to your personal finance. Work out the formula when it comes to balancing between spending for the now and investing for the future.
Rinsing and repeating does not mean that this formula won't change at some point in the future. It does mean that when any change occurs, you should keep on restructuring and adjusting to current realities.
The financial goals of a 25-year-old will differ from that of a 40-year-old. Your investment allocation when you are earning ₦100,000 will not be the same when you are earning ₦500,000.
Time (if well used) is an asset. A popular adage says that "any day you wake up is your morning."
Time not used properly is like kicking the can down the road. Eventually, you will have to confront the very issues that you are running away from.
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