{"id":1176,"date":"2018-09-01T16:36:29","date_gmt":"2018-09-01T15:36:29","guid":{"rendered":"https:\/\/cowrywise.com\/blog\/?p=1176"},"modified":"2023-06-01T15:30:28","modified_gmt":"2023-06-01T14:30:28","slug":"financial-planning-chidinma-okoli","status":"publish","type":"post","link":"https:\/\/cowrywise.com\/blog\/financial-planning-chidinma-okoli\/","title":{"rendered":"Financial Planning Tips: Organising Your Finances by Chidinma Okoli"},"content":{"rendered":"\n

Did you miss our personal finance<\/a> session where we gleaned tips on financial planning with Chidinma Okoli, founder of \u200bFinancially Literate Africa? \u200bNo worries, we have you covered. It was a brilliant and engaging session that had key workable tips embedded in it.<\/p>\n\n\n\n

Do Not Wait For The Money!<\/h3>\n\n\n\n

Chidinma kicked off the session by tackling the mindset of waiting for money before you chase your dreams. She suggested that building up your own funds towards your dreams is the right way to get started with chasing your dreams.<\/p>\n\n\n\n

To further augment her suggestion, she delivered a number of brilliant tips which would be explained shortly. The tips were:
a. Commit to tracking your expenses
b. Have a budget and stick to it
c. Invest your savings
d. Diversify your income stream<\/p>\n\n\n\n

1. Track All Your Expenses<\/h3>\n\n\n\n

On this Chidinma had this to say:
\u201cI\u2019ve come to understand that the reason why most of us spend a lot of money on \u201cunnecessary things\u201d (like that 30th pair of shoes you really did not need, or the 1000 dollar Jersey you could have done without) is that we don\u2019t track it. Hence, we end up not really knowing the volume of money we spend on these things.\u201d<\/p>\n\n\n\n

To help with this, she suggested using a mobile app called Expense Tracker. The app shows you at the end of the month\/week\/day how much you have spent. Tracking your expenses with a budget tracker helps provide an accurate picture that can guide your budget planning, and that leads us to the second tip.<\/p>\n\n\n

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<\/span>Guides<\/span><\/a><\/div>\n

What Is Public Debt?<\/a><\/h3>\n
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<\/div>\n <\/a>\n <\/div>\n <\/div>\n \n
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<\/span>Guides<\/span><\/a><\/span>Investing<\/span><\/a><\/div>\n

Is This Stock Really Expensive?\u00a0<\/a><\/h3>\n
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<\/div>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n\n\n\n

2. Have A Budget And Stick To It<\/h3>\n\n\n\n

No two persons can have the same budget, because our lifestyles, dreams and spending patterns are different. So you need a personalized budget. In drafting a budget, the following steps were suggested:<\/p>\n\n\n\n