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    New year new things yeah? Most people right now are busy writing down their new year’s resolution for 2017 because they messed their monetary stability in 2016. You do not want to be in their shoes next year, and if you are in that situation, let’s fix 2017.

    There are only three things you can do with your money:

    • Save
    • Spend
    • Make more money (For instance, investing)
    1. Save

    This is the most resourceful thing to do with your money. Saving starts with a single penny, every single penny. Do the following to ensure a successful saving;

    1. Budget – draw a budget and stick to it. Avoid impulse buying and purchase only essential stuff.
    2. Save – literally speaking, save any extra money that comes your way. Yes, wait for your change at the supermarket.
    3. Goals – You should separate your long term goals from short term goals and deal with them one by one.
    4. Financial Advisor – Ensure that you get a trusted financial advisor who will help you save.
    5. Savings account – open up a savings account which has a return of a good interest rate. Take advantage of the compound interest.
    6. Retirement – Plan for your retirement, all you need with you is your tax-free savings and some few retirement benefits. Create a retirement account e.g. Roth IRA and start saving.
    1. Spend

    Spending is inevitable, but you have to spend wisely. Meet your financial responsibilities such as; clearing debt, insurance cover, paying fees, paying taxes, pay off your college student loans and what not. While you are at it, keep track of the cash flow, find a way to manage it either by keeping all the receipts or by making entries each time a financial decision has been made. The moment you get an opportunity to lessen your financial burden, grasp it and you’ll be a step closer to stability.

    Improve your lifestyle – this does not necessarily mean to spend more; it could also mean spending less. For example, you need a car, do you really NEED to buy a new one? I suppose not.

    Make crucial purchases, that is, a small permanent asset that can be of use to you for a long time. For example, a bicycle. Just as a mental note; always spend less than what you earn.

    1. Make More Money 

    Making money is not that much of a hustle these days. But the old principle still stands; to make money, you have to spend money. There are two ways of doing this, one is a gamble and another is a sure win.

    1. Investment (it is a gamble) – a healthy one though, yes all you have to do is put your money at the hands of a trusted investment company, one which you have selected with at most consideration. A company that will suit your interests and one that will fetch you good money. You will decide this after comparing the financial performance information of the said companies. Some examples of companies that deal with investments include CMC Markets (online trading/investments), and so on.
    2. Making money through offering goods and/or services (a sure win) – there are many available gigs on how to make money during your free time or while traveling. A very popular discussion that has been making rounds on the internet is making money online. You can make money by downloading money making apps, you can choose to be a writer, you can decide to be a blogger, you can go on adventures and collect valuables which you might sell or hold the for display…really, there’s an endless list on how you can make money while doing things you like.
    3. Hobbies – Making money from doing things you love has become a popular decision made by most young people today. What can count as a hobby? Casual painting, stamp/rare coin collection.

    Do any, or all three, of the above and money will not be one of your problems next year.

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