What Is The best Money Advice You Received This Year?

November is gradually moving the year towards its exit, and we all know what the year 2022 unleashed on us all, including how it affected our lives, especially in finances. So much so that it seems okay to have set some financial goals at the beginning of the year, only to see it get stuck due to the developments without complaining much.

After all, no one saw it coming. We all experienced the series of incidents in the year that kept on throwing all plans down the ditch. From the hike in dollar price to high interest rate, incessant migration, depleted finances, business shutdowns, low purchasing power, reduced power distribution, rising cost of food items and commodities etc. Sadly, these developments plunged the country into more financial depletions.

And as discouraging as it may be, a few people found ways to manage their money and survive the unpredictable year 2022.

Regardless of where you found yourself in the whole future, what is the best money advice you received this year?

Some of the most vital financial lessons the year brought to the fore is the need to place premium over:

1.       Emergency funds are lifesavers; it is necessary to quickly put some things in place to survive. They are financial safety nets for future mishaps and/ or unexpected expenses.

2.      Investing is essential for creating sustainability and preparing for the future. What you invest in matters a lot though.

3.      Money spent on self-development is key to adding value in the workplace.

4.      Saving while living on less than one makes is vital to being financially secure. Even when you get a raise, it doesn’t necessarily mean you have to increase your spending.

There are a few things you probably learnt over the course of the year. And if you are still having some issues getting it right, we are always here to help.