Money, hard to get but easy to spend. Why? Because of management! Does it mean we all should study management in college? Absolutely not. The art of money management is a conscious one, you will need to personally grow yourself into a smart and careful user of money. How well you handle money determines how much money you get. Parkinson’s law says, ‘expenses rise up to meet income.’ While this may be true for a majority of humans, it is definitely not a fact. Peter and Gaius work in an accounting firm. From this, they save a certain amount of money monthly in other to grow their businesses. The management decided to give them a pay rise, Peter went on to increase the amount of money he save monthly, but Gaius maintained the amount of money he save monthly, and used the pay rise to buy luxuries. Although they both saved, but Peter never allowed the Parkinson’s law to have effect on him. Just like Peter in the story, you too can choose what affects you. In few months time, Peter will have more reward from his saving compared to Gaius.
There are several ways you can grow your money, reducing your cost helps you save money too. Below are few tips to help you grow your money, and also reduce cost.

1) D.I.Y.
So many of you may have come across this acronym. Do It Yourself. Recently, I visited my uncle who is a lecturer in one of the college of education. He had simple electrical tool box, sets of screw drivers, hammers, and many others simple tools. When I inquired why he had all these tools, he simply said because he prefer fixing simple home faults than calling handymen, who he will end up paying. I learnt that day to do likewise. This helps you save money that you would have given away. And a plus to it, it makes you learn how to fix simple home faults. Doing it yourself saves you money.

2) Saving
I have heard of many stories of how people laments about their inability to save. They claim their salaries are not enough to offset their bills and general running of the house. Well, no one said saving will be easy. It will not be easy, but it is worth it. It is highly recommended you save, and save early. It may be difficult at first, but with time, it will be easy. Here’s a recommended approach. If you earn a salary of NGN 100, 000. You should convince your subconscious mind that your salary is actually NGN 90,000. In so doing, you will be able to comfortably save 10% of your income without feeling it. This mind trick has been proven to work for 90% of the number of people who tried it.

3) Investment
What do you do with the money you save up from fixing simple home faults yourself and from saving? You invest it. Investing your money is one of the wisest thing to do, however, it is more important to know where you want to invest your money. I have hears and seen people who through investment loose all their hard earn money. We’ve heard of banks and businesses folding up, investors scammed of their money and other heart breaking stories. So it is paramount that you make an in depth research on the business you wish to invest in. Because it would be disastrous to loose your money.
Mutual fund is one way to grow your money. It has low risk and therefore a good platform to invest. Visit your bank to find out more about this. Treasury bills and other money market options are also a good start.
I hope you save and invest today, do not procrastinate.


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