One of the most important qualities of the contemporary African women is her independence. Not having to rely on anyone for her basic needs, and in many cases, people correlate independence to being financially stable. Several months ago, I realized I was getting old and need to start thinking about my future – my financial future. I don’t plan to work a 9 – 5 job forever so I started looking into ways I can start putting my money into better use. So you ask, what steps should I take to start my journey to financial freedom?
Get Educated. This is the most important step. You must seek out resources that can help you plan and give you options for investment. Make use of the internet, bank, apps and financial planners. Learn about opportunities that will make your money make money. Real estate, stocks and starting a business are all viable options if you want to start accumulating cash in preparation for your future life.
Failure to Plan, is a Plan to Fail. I’m sure you have heard this one before. One of the crucial steps to managing your money, is understanding what is eating it in the first place. Taking time to understand where you are spending wise will give you a better idea of what to cut back on and increase your savings. Making a budget using many apps like Nerdwallet and Mint, even many banks give you that option, is a smart way to take control of your money.
Slow and Steady Wins the Race. Building wealth is not a day’s job. You have to be patient. With the right plan, direction and strategy, you will be on your way to a comfortable life in the near future.