FINANCIAL LITERACY - BUDGETING

It is important we acquire deep knowledge about the reason why we always want to work or own a business and that is MONEY. To be able to save money too, we need to understand the circle in which our daily financial lives ride on daily.

SOMETIMES our cashflow might be different from our earning be it salary, wages, stipend or sales. now after which you can draw budget. i understand without the earnings, we cannot have a budget.

Personally, what i do is i have a daily expenses, weekly expenses and monthly expenses not forgetting emergencies. So in a week i buy fuel, perishable goods (weekly), groceries (every 2 weeks), kids feeding (monthly), electricity (prepaid), water bill (monthly), waste collection(monthly), miscellaneous and emergency. After all these expenses, i still allocate 0.5% of my income to chips production. i started small and its really booming. Now, some of the above expenses don't come from my monthly anymore ; the return on the small chips business take care of them.

We all need to understand our spending pattern especially when you have kids and family that depends on you. The random calls for their necessities i believe should be part of emergencies including health and other forms of unimaginable happenings.

Budgeting is equally important as seeking for promotion or job with all discipline and seriousness.

Sometimes, saving money can be use to buy shares, invest in other forms of investment especially if you don't have enough time to monitor small or startup businesses. Also those who are already in business can save in our small businesses too and be getting little returns.

However, we need to develop the habit of monitoring spendings and evaluating our budget. Budgets are prone to reviews and adjacent to fit current economic situations.

No matter how very little you earn, make something meaningful out of it. In my country Ghana, teachers and nurses do not earn much but they have a lot of these small businesses as sides. Some school teachers sell water, snacks , undies and stationaries and in the hospitals you'll see businesses such as water, mint, gums, biscuits, juices and many more. I commend them and i recommend if its possible at your workplace, try it.

I have learnt to remain discipline and focus in my daily spendings and be productive in what will bring returns no matter how small. Women, we have a lot of money making ventures in every little sales we do and also loans and grants accessibility.

i encourage women leaders on here to be approachable to people like us, aid us with what we need and we all can boast of a women-led change world; Because THERE IS NO BUDGET WITHOUT EARNINGS.