Talking about money is a topic not everyone is comfortable with. Reasons best known to each person. This shouldn’t be over looked. The way we’d talk about love, school, work, food, games and sports, should be the same way we should also be comfortable talking about money. I for one, is not really comfortable talking about money with just anybody, and here’s why. I have no freaking idea why!! Studying a course like mine, persons expect me to be savvy when it comes to money and making financial choices. Sometimes, I help out, other times I’m blank cause we would be wearing the same shoes.
Being able to manage ones finance without depending completely on other persons is one of the best feelings anyone can have. It spells FINANCIAL INDEPENDENCE. Flipping the other side of the coin, have you been so broke that you’ve robbed Peter to pay Paul and now you’re hitting James and Andrew?…
Money is not the most important thing in the world. Love is. Fortunately, I love money.” – Jackie Mason
WELL, LET’S TALK CASH FLOW
There’s a twist to this. All pockets ain’t the same. So also, different hustles and jobs come with different paychecks. Knowing one’s stance and major source of income would go a long way in knowing how to manage your money. So what is cash flow?
Cash flow is basically the incoming and outgoing of cash representing your activities. Or simply put, the number of times money goes out of your pocket and money comes in. With that established, knowing the different activities you engage in that generates cash would help you plan your finances properly.
Living as an undergraduate, I basically have two major sources of income. The first happens to be my parents and the other which comes in once in a while, happens to be freelancing gigs. And that’s basically it for me. In a lot of ways, there’s a whole lot of outflow and less inflow. This means spending more than I receive would definitely make a thief not want to even steal my identity. It would leave me broke.
There is a big difference between looking like you have money and actually having money. If you have good personal credit, that’s super cool. If otherwise, it should be worked on. There’s a lot of things that meet the eyes but don’t forget to prioritise. Living within your means is never over rated. It’s cool to want more and spend more. This shouldn’t be done at the expense of your sanity. Plus priorities comes first.
“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” – Will Smith
ALSO, HERE IS THE FUN SIDE…
- When you go out, your friends often offer to buy you drinks. This makes you humbly proud because they know when you’re doing well financially, you’d return the favour. There’s so much fun in giving.
- You totally have to rock the look you’ve got. There ain’t no time to be a walking billboard. You feel yourself in the wears you already have.
- You become the king and queen of coupons and promos.
Not bad at all. I mean, you’ve been paying for the full package for so long, the company’s got to cut some slack. Since you kinda need that extra money for, like, sustenance and stuff.
- On payday, you feel like a star and so you’d want to treat yourself. Even if treating yourself could be extra meat to your meal or that weave you’ve been eyeing. You go wan run that package sharp sharp.
- Speaking of scoops, you appreciate every food that is not not food.
- Your willpower becomes unbreakable. You stick to a budget through and through.
- Old forgotten money left in your pocket becomes pretty much like pure bliss. Sweet! However,
- You know that money isn’t the most important thing because you’ve learned how to have fun, netflix, appreciate people, love life without having tons of it.
Being broke could feel like a heartbreak. That’s if your heart has been broken, (let’s not delve into that). Managing our personal finances is really important even as we desire for more. We have to make wise and deliberate choices daily, to work towards our financial goals.
Have you ever been flat broke? If so, what did you learn from it? Also, what are others ways a person can generate income?