THE ABILITY TO SPEND WISELY LOH#216

Hello everyone welcome to my blog🤗.

The topic i would love to talk about over and over again is "the ability to spend wisely".

I have been able to anchor several financial wisdom workshops, educating individuals on how to spend every bit they have, whether it's from their paycheck or a gift from someone else.

Most people misinterpret spending appropriately as being stingy. Others think saving up in the bank is financial wisdom.

Financial wisdom is thinking about how to multiply your income rather than simply depositing it in a vault or bank.

If you have a large sum of money that won't be needed soon, consider investing it in Treasury bills, starting a business, or purchasing stocks and shares through a broker.

Imagine you are given a billion dollars; what will you do with it?

For some people, the initial strategy is to spend money on cars, drinks, trendy clothes, bags, shoes, fashion accessories, or even host parties, and then save the rest.

Have you ever wondered why most billionaires dressed so casually? You may mistake them for a low-profile person.

• All imqges are Ai generated*

Most affluent people think outside the box; they focus on how to multiply rather than how to spend. They spend only when required.

Have you ever gone grocery shopping and ended up purchasing something you hadn't intended to buy?
That's impulsive shopping which is the main culprit for spending unnecessarily.

Some people believe that making a shopping list helps them avoid impulsive purchases, that helps too but for some people it doesn't work . Because they can have a bucket list and still end up buying things that are not needed.

Spending wisely is a state in which you have condition your mind to operate with a particular amount you have budget to spend. With this consciousness, you will not want to go beyond the amount and that will put you on check so you buy just what is needed at the time.

Whenever you want to spend money, ask yourself questions; do i really need this? Try hard to curb excess spend and inculcate the habit of investment.

Thanks for reading through 🤗.