When your debt is more than your revenue.
I have always wished to acquire in life but things i know would satisfy me and at the same time not run me of my money, most people live there lives to impress others and as such deep their hands into debt beyond what they can carry,some Nigerians are so badly informed that you start to hear words like ” even Nigeria is in debt,then who am I?” they use this statement as a proof that their act is right but is it really right ?
Mind you to the professionals reading this am taking this case from an individual view.
Why will your debt be more than your revenue?
The major reason is due to our act of extravagance,”oh yes I want to prove a point,I want to show the world I have got this money” your ego pushes you to fall into debt which leads to alot of debts then you start running from pillar to post seeking succour,some at this stage start having high blood pressure and before you know it something else happens.
But How do I overcome this act of careless spending?
Some people always have this urge to buy whatever they see even if it is not useful,once they have the money they will buy,some will not even have the money but will go ahead to buy on credit. To stop this careless buying you can follow this procedures:
1. When you go out especially to a market,write down the things you want to buy and their expected amounts.
2. Do a rough calculation of the exact money you need and just add a little amount to be on the safer side.
3. When the urge to buy what is not on your list comes,bring out your list and recite what you want to buy,in that process you have toyed with your brain and as such made it lose focus on its earlier thought by the time you will raise your head your mind will lead you to the exact location to buy what you are suppose to buy.
4. And finally have a record,yes record of your daily spendings this will help you monitor what you have and what you don’t.I have written something about this creating your record in the past,check my previous updates.