Set your money goals, don't be broke

Hi everyone, especially to my ladies out there, what do you understand by being broke?

To me being broke means not being able to maintain the lifestyle you have become accustomed to after loosing your primary source of income because you have no assets to  rely on.

Now to my ladies out there, do you want to get married and rely on your husband for monthly income? I'm sure you would like to earn your own money and support the family too..I'm not saying you should work and your husband should sit at home, no...all I'm saying is that while your husband is working and earning money for the family, you too can work and earn money too. For example some times when a husband die, you hear things like family members of the husband taking the properties owned by the dead husband away from the wife. In a case when you have your own money, it won't affect you in any way.

So Ladies please be a smart money woman

In order to avoid being broke, know what you want to achieve and set your money goals

How do you set your money goals

1. Know what you want

2. Divide your income into short term financial goals, long term financial goals and living expenses

LONG TERM FINANCIAL GOALS (LFG)

This is a part of your income set aside to improve your net worth i.e buy assets that will probably idea you with more income e.g buy a land or property

SHORT TERM FINANCIAL GOALS(SFG)

This is the part of your income set aside for treats like bags, iPhone, luxury holidays e.t.c

LIVING EXPENSES(LE)

This is the part of your income set aside for your rent, health insurance, petrol, phone recharge, daily feeding e.t.c

A perfect example of the financial goals:

Monthly income: #300,000

LFG (20%)          : #60,000

SFG (10%)          : #30,000

LE (70%)             : #210,000

So if you save #60,000 every minth in two years, you'll have #1,440,000. You can invest into a business or better still create your own business.

I'd love all the ladies out there to read this book written by Arese Ugwu titled "The Smart Money Woman". It a must read for all especially the ladies.

Thanks y'all

I love all the great ladies out there

Make a difference

#Amiable_Lara