LIVING BETTER: SPENDING TIPS

It is very easy to get lost and lose track of things that are important in the fast-paced style of society. We must, however, stay grounded and commit to decisions we make especially about our finances.

A lot of individuals want to be millionaires, billionaires and have financial freedom but it is not a journey of daydreaming, your spending habits can also affect what becomes a lifestyle and how effectively you use the money.

We have listed some effective habits, you can adapt to be better at your accounts and manage your finances

1. Give yourself a reason to spend wisely. Spending or saving makes a lot more sense when you have a target to miss.

2. Live on a budget. Creating a plan for your money allows you to prioritize your spending. With UBA Prepaid cards, you can load just what you require to spend for a period of time.

3. Paying the bills on time. By doing so you’ll avoid spending money on needless late fees. Using assistant codes, like the UBA *919# or instant bills allows you to keep track of bill payments.

4. Never buying anything on impulse. One of the best ways to help prevent this is to make a shopping list and then stick to it.

5. Maintaining an emergency fund. Everyone should have between three and six months of living expenses in the bank.

6. Spending less than you earn every month. File this one under “D” for “Duh!”

7.  Occasionally reward yourself by splurging.

As much as we love to encourage saving, no. 7 is a reminder that we all deserve a break and you should take a well deserved one, when possible.