How To Live A Happy Life With A Low Income

Having a low income is not a sentence to living a sad life. You can be happy and no one would know how low your pay check is. However, living a happy life comes with you allowing yourself to be happy no matter how everything is not ok 🙂

As the name of this blog implies, I am here to help you make meaning with little and help you see the opportunity for the big ones.

Being sad about your low income not only makes you unhappy but blinds you from seeing greater days and opportunity. Life is all about making the most of what you have and this post is going to help you out on that.

The Things Money can’t Buy

Money can’t buy you happiness

I also don’t know who said it 😉

I truly don’t know who said it LOL but it is very true. Happiness comes from within, from the things that can’t be touched. From the things money can’t buy. So if you are not happy with less today even when you are having much you won’t be happy. Because the truth about money is this, it comes to pay bills not to be a friend you can cry to.

The only way you could be happy is by being thankful for that which you have. Because there are a lot of things money can’t buy and first on the list is

  • Life
  • Family
  • True Friends
  • Faithful partners
  • Joy
  • Sound mind

How to be Happy

Here is how you can be happy with a low income. These are things you can start putting into practice right away

  1. Live according to your means. Spend according to your income, make a budget and plan. In this two articles How I live a debt free life and 5 easy ways to live a debt free life, I talked about a lot of practices I adopted which got me out of debt and kept me debt free.
  2. Change your perspective about money. Learn how to spend it or you will end up wasting it.
  3. Plan for better days a head. I mean if you don’t plan or see a better future for yourself then you can’t be happy.
  4. There is this joy I get when I keep money away no matter how little. It gives me a little sense of relief because I kinda have a backup. Why don’t you give it a try?

This is why you Should be Happy with your Low Income

  • At least you got an income, it might not pay every bill but it gets to pay some. Can you Imagine not having an income at all ? That’s terrifying.
  • You get to grow your income. See you can only grow when you have something. You could save read THIS and know how to save money , you could start a small business and make small investment.
  • A lot of people which the have your job and could earn a little something. Try quitting and in the next hour that vacancy becomes an answered prayer to another.
  • In light of growing, your small job boost your resume for a bigger job which in turn means a better pay check.

In the end of it all I just want you to see is that your income( financial level) is better than a lot out there. However it is a good thing you are not comfortable with it which means you want a better life.

How to live a happy life with a low income

How I became debt free in February

How I became debt free in february

I became debt free in February and it took a lot of planning from the precious year. However it was very simple because of the method I used.

This post is going to be the shortest you’ve ever read because I am in a hurry to go do some other things. Just being sincere, time is not my best friend and it’s not yours either so why should we waste it?

Moving on…

2018 was really tough on me, it came with a lot of bills. And this got me into some debts. So my new year resolution for 2019 was to clear the debts ASAP.

That was what I did, worked on it as soon as the year began and in February I was singing Hallelujah my debts are gone.

Get more comfy as I am about to tell you how I did it

I became debt free with my cooperative society saving.

This is one of the fastest ways to save money for a short period of time. It is very flexible. The bad news is I am not going to tell you how it works as this post is not meant for that. The good news is I have written about it in details here.

However here is a sneak pick of what it’s all about. Cooperative saving needs a work environment. As it needs you giving out some percentage of your income depending on how much you earn.

The best results is when you and your colleagues( at least three of you) decides to do it. It could also be with friends out of work, but they have to be earning an income so there won’t be any disappointment.

This is how you can be debt free with cooperative saving.

plan ahead of time. As I had said from the beginning. Every successful thing was planned no good thing happens by mistake.

Every successful thing was planned, it never happens by mistake. Plan your Financial life to be successful.#success #finance #lifestyle #personalfinance #Friday #Fridayfun Click To Tweet

You need to know how much you would need to clear your debt as it will determine the amount you save.

For instance, your debt is 5000 and you want to clear it within a year. Then you need four colleagues or friends plus you making it five of you contributing 500 for 10 months. Since you are five in number then you go two turns. In the first 5 months you get 2500 and in the second 5 months you get 2500.

If you are finding what I just said confusing then you haven’t read the post I recommended. Read it!

The cooperative saving can be more or less than the amount stated above and for lesser months. Because our earning defers and debts varies too. It sounds easy, yes it is but you have to be mindful of some things.

A little warning about a cooperative society.

Don’t be sacred, It is only good of me to tell you some problems you can encounter. Everything has an advantage and disadvantage but I assure you the advantages are greater. However here are some few things to put in mind;

  • You are going to temper with your income. For some months some percentage of your income will not be yours as you are putting it away. So you have to cut down your spending. This is only for a short time remember so you can survive without some things. Make your budget and know what can be cut down
  • If you don’t take the above mentioned seriously, you could end up in more debts.
  • Trust the people you are going to do this with or create a channel to make sure no one disappoints you.
  • Don’t be too excited to do this, that you give more than you can afford. If your income can allow you to save 500 don’t give more than that. Or you suffer it and might likely go into debts again.

We have come to the end of this post. If you have any questions please leave a comment I will attend to it ASAP.

How My Savings Saved Me from Debts

how my saving saved me, it can save you too only if you start.

I kept thinking about how i’ll make this post very clear and direct because I am not a good story teller. However I need to tell this short story because it might just help someone start saving.

My savings saved me some times back in march. It wasn’t long I started saving for the year. That’s to say it wasn’t much however it stopped me from going into debt after just clearing a long pending debt. Which in my next post I will tell you how I cleared the debt.

Before going any further, what do you understand as a savings?

What does savings means?

To me a savings is money you keep away that won’t be spent any time soon. It keeps accumulating over time. You get a savings through constant saving. Without making it a habit to keep money away weekly or monthly depending on when your paycheck comes, it’s impossible to have a savings.

Before telling you exactly how my savings saved me I’ll tell you how to save. The truth is the aim of this post is to encourage someone out there to start keeping some few bucks away.

How my savings saved me.

How to go about saving money

1 Saving is not all about keeping huge sums of money. Those small bucks will amount to big amounts. You know the quote that says “little drops of water makes an ocean” ? That’s how it works.

2 Consistently keep money that’s the only way your little drops gonna make an ocean. It could be daily, weekly or monthly don’t just miss out on any.

A simple example to show you a little on how to go about saving your income.
Daily saving
Everyday = 5 bucks, 30 days = 150 bucks , 12 months = 1800 bucks
Weekly saving
Every week = 20 buck, 4 weeks = 80 bucks, 48 weeks = 960 bucks
Monthly saving
Every month = 100 bucks, 12 months = 1200 bucks

Before saving first consider your income. The example above is not exactly how much you must save. It could be less or more, just be consistent.

3 There are so many ways to save and I wrote a post about it. 3 ways to save your income that works. Therefore save with the easiest method for you. The one that could help you achieve your goals.

This is how my savings saved me

We are finally here, where I will tell you how my piggy bank saved me. Heck no it wasn’t some huge sum of money in my bank account that saved me. It was some little amount of money in my piggy bank.

Before I continue with the gist, purchase a piggy bank right now. In case you don’t know, notes also can go into it. Forget the pictures always showing coins going into it.

So let’s go on….I had just cleared a long pending debt in February and I became debt free. Yes it felt amazing. Then BOOM! something came up and I had no money to solve the problem. It was a due payment I had forgotten about since I was so busy trying to clear my debts.

My mind started thinking of where I could get a debt. So typical of me. The saying of “once a debtor always a debtor” could refer to me at that moment. Then the idea bulb came up in my head. I remembered I had a piggy bank. However, I was not willing to break it as it was a saving plan for a whole year. The year wasn’t far gone and I had only started putting little money into it. On another thought I wasn’t ready to go into debts again.

I broke the bank and it was exactly the amount I needed to settle the bill. A matter of fact some change was left for me to spend for the week.

No one told me what to do, I went and bought another bank.

And that was how my piggy bank(asusu) saved me.

Your savings can save you from going into debt too. All you have to do is to start.

share this post if you found it encouraging and tell a friend about the amazing contents I have here.

Your savings can save you. Mine saved me too- brokegirlsgetfixed

4 Principles of Managing your Finances

principles for managing your finances

“Nothing good comes easy”

So does living a good life. Your financial peace or success doesn’t depend on how much you earn but how well you spend.

Then it gets you thinking how is that possible because the best lives you see out there earns well. Well I have seen a person with a very good income often getting broke or in a lot of debts.

Also you see “wealthy people” hiring financial managers and consultants and you wonder why because you don’t see the need for it. The thing is they understand that they might have a lot of money but the moment they start spending it wrongly they could be broke in a minute.

Lets not go too far as you don’t have millions in your account neither do I. And you can’t hire a finance manager either. However you can be your financial manger.

These four principles of managing your finances are going to show you how.

Here is how you manage your finances

Principle #1

PLAN

Yes PLAN. Plan your life, plan your expenditure, plan in line with your income and just keep planning.

In case you don’t understand what Planning means in this context, it simply means budgeting.

Make a BUDGET. No matter how little or much your income is make a budget. Even if your monthly expenditure is the same, make a budget.

One big mistake we often make is to start spending our money without a proper budget.

These are the reasons why we need to plan or make a budget.

  • When you sit down to write a budget, you see what you can afford and what can wait a little bit more.
  • We often forget some very important things that needs to be sorted out as soon as the paycheck arrives. Including it in a written down plan makes it hard to forget.
  • With a budget you spend on track. Imagine going to a grocery store without a list. You are most likely going to buy what you don’t need and forget the important items or go over board with your spending.
  • Unexpected expenditure comes up, it’s life and we are never completely in control of it. When such comes up a budget can help you solve it without extra cost. We will talk more on this soon.

However for a budget to help you manage your finances you have to take it serious. This will be discussed in another principle therefore keep reading.

Principle #2

PRIORITIZE

In Economics, there is something called a “scale of preference”. This simply means scaling your needs based on which is more important. Like the need that needs to be solved immediately.

Hence in managing your finances, you need to have a scale of preference. Have priorities when spending your money. Before you pay for a service or order for a good be sure it is very important. Because the truth is not every good thing is important.

Food, house, electricity, water and health are top of our list. Prioritizing comes into play when all of the very important things are out of the way. I am saying this because every adult which I’m assuming you are since you are reading this post. Should have the bills above settled first before looking into any other.

Allow me to say there is a first phrase to prioritizing and a second phase. The second phase is what you do with the rest of your money when all the very very important things are out of the way. It is the most important phase because this is the point where your spending decisions either make you broke or stable.

Be in control of your finances with these easy principles

Principle #3

DISCIPLINE AND DECISION

Without discipline managing your finances becomes the most difficult task you can ever do.

I mean you know that a budget is very important and priorities matters a lot. But you have to be disciplined to practice all of them. You have to register it all in your conscious and subconscious mind.

Make it a habit to sit down and write a budget. See that all of your expenditure are prioritize because without discipline the principles we have discussed and the one we will talk about in a bit won’t be possible.

A budget is not easy to make, why? because there’s a lot that needs to be on the list but you can’t afford them all at once then priority comes into the drama.

This is exactly where making a good DECISION becomes a skill you never trained for but have to be an expert at it.

What you decide to put on your budget or make as your second phase priority as we mentioned earlier goes a long way in the becoming your financial manager process.

Principle #4

SAVING the one “S” in managing your finances

Before I go on blabbing about how important saving is, how about I tell you how to go about it. So first of all read this post on how to save. 3 ways to save your income that works.

Saving is not easy, so I am not going to tell you a lie about how you can do it overnight. However I am yet to see a single soul who regretted saving.

Savings are not just for rainy days but for everyday. #saving #money #save #income #budget #plan #prioritize #discipline #decision #earn #goodlife #finances Click To Tweet

Putting away some cash, that won’t be spent any time soon will be the best decision ever made by you. Because saving can save you from going into depths. Yes it can because it has for me. I have a post coming up about how it saved me.

You can bookmark my blog and wait for the amazing contents I have lined up just for you.

Lets have a recap on how to go about managing your finances

If you want to live a good life, in a few words here is all you have to do;

  • Plan before spending. Sit down and write a budget.
  • Prioritize what you need. Remember not all good things are very important.
  • Discipline yourself, every good habit comes with discipline.
  • Decisions are not easy to make, try your best to be good at it. How about you just ask for advise from a friend.
  • Never forget the one “S”