The Most Important thing to do If You Want to Live a Financially Successful Life.

By Jaluum Herberts Luwizza. Twitter_@jaluwizza Tel:0787555919 ..

Do you have a budget!? This is one question i want to ask everyone earning money. Truth be told many of us do not have a spending plan. Most of us know how to make money but don't know how to spend it. I hear people usually saying, no one can tell me how to spend my money since no one tells me how to make it. I find this a very naive and ignorant statement. Money is an art, both making and spending it so knowing how to use it is no divine gift at birth but rather a skill you have to acquire and harness overtime.

Today I want to talk about spending. How do you spend your money!? I hear people talk about plans of making money though hardly do i hear them talking about plans of spending it. Few people usually say, I have a plan for spending my money. The plan of spending your money is called a budget.

If your source of income is a job that pays you say a million shillings after taxes, how do you spend that million!!? Do you rent a house of 800,000 a month!? Do you think of those scenarios when you may fall sick!?? What will happen to you!? Are you spending 70% of that money on maintaining your car!? Do you think of saving!? If you do, how much do you put aside consistently in your savings pouch!? Do you have all this figured out!?

I have seen people who have fallen sick and started going around borrowing money to treat themselves a few days after drinking close to 60% of their last pay cheque in a bar. I have seen people who have sweated plasma on the final minute running around to get money for hospital bills so their lady can deliver having known about the pregnancy 9 months in advance. This goes along way into showing you that most people don't plan how they spend or use money.

A normal budget covers your income and possible expenses including importantly savings and emergency funds. We should start looking at this from a personal point of view.

It’s good to be keen about the national budget but its also so important to have a reasonable personal budget. What do you think!?

Jaluum Herberts luwizza is a writer, Speaker and Business consultant with YOUNG TREP

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