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MONEY TRICKS EVERY ONE NEEDS UP THEIR SLEEVES

The biggest asset you can have while dealing with money is discipline.

Be disciplined and you'll go financial places.One of the biggest financial test I have endured in the past year and a half has been financial discipline. My discipline with money has been tested in all ways and to the limit.

When you have little knowing how to work with it, it is critical. Knowing what's important and what's not, what's urgent, and what can wait. Getting your priorities right makes the difference when you have little or close to nothing to work with.

You'll be in positions where you have to choose between buying food, paying a water bill, or power bill, for example. You have money to cater for one, which one is it going to be!? kinda situation.

Financial discipline is a habit, and like all habits, it's built over time. So you're not going to wake up one morning and say now I am financially disciplined, no way. It's some thing your going to build/cultivate over time.

The trick you can use in the begining though is to assign money duty/task. I know there people who when money gets into their hands they don't know what to do with it until it's gone then they start realizing all things they didn't do that were meant to have been done and all the things they did that they regret spending money on.

If you're that kind brother/sister, assign money duty before it comes. Say that 100k coming from X on 10th will go to paying power. The 500k coming from Y 21st will go to paying rent. The 200k coming from P on 8th will go to house shopping. It serves you well to write it down and, if possible, pin it somewhere (financial board) as a daily reminder.

When the money comes, let it go to doing its duty/task assigned to it. This way you'll avoid spending money on things you shouldn't have spent the money on. This way, you'll be able to stay on top of your financial properties.

Also, if all of a sudden you get a windfall or money, you didn't expect to have a policy/habit of banking it away for 30 days at least before you start spending it. This allows you to spend the money with a cool head way after the excitement money causes have gone.

Also, as a must, if you can create a project or something to be taking extra money out of your hands, say buying a plot of land, building, starting a business. This will ensure that every time you get money, it has some where it's going productive. It's not wise to have money lying idle because it will end up where it shouldn't have ended up say lending some one who will never pay back, helping every one that comes with a sad story your way. Now don't get me wrong, it's not bad to help people, but it's also doesn't help your cause being overly generous with your money all the time.

Jaluum Herberts Luwizza is a Speaker,Writer, Columnist with the C.E.O Magazine and Contributor with the Nile Post.He is also a Business Consultant with YOUNG TREP East Africa's No.1 Business Management and Consultancy firm that helps people start and grow profitable businesses.

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