Nigerian finance expert Oluwatosin Olaseinde shares tips on how you can stick to your budget

Oluwatosin Olaseinde is the brain behind The Money Africa (onyixtus)
  • Oluwatosin Olaseinde is one of Nigeria’s most well-known Personal Finance experts with 10 years of experience in the field.
  • Acknowledging how difficult it can be to stick to one’s budget, she has taken to share her tried and tested tips.
  • Below are her four tips for creating a budget you can follow.

Most people can relate to the annoying cycle of creating a budget you never seem to follow.

Thanks to some great advice from Oluwatosin Olaseinde, a top Nigerian personal finance expert with 10 years of experience in the field, you no longer have to deal with this problem.

The founder of the personal-finance platform, Money Africa, has compiled a list of four great ways to help you create a budget you can finally stick to.

Here they are:

  • Set SMART goals

SMART stands for Simple, Measurable, Achievable, Realistic and Time-bound. This Olaseinde’s guideline for creating a budget.

For instance, she recommends saving 10 per cent of your salary every month. This goal is definitely simple, measurable, achievable, realistic and time-bound.

  • Only set realistic budgets

Here, she re-emphasises the importance of creating realistic budgets that you can follow.

In her words, “if you have a budget of N100,000 when our income is N70,000, you will end up borrowing.”

  • Learn to track your spending

Olaseinde writes, “tracking your daily expenditure enables you to make adjustments if you go off track.”

  • Reward yourself

Acknowledging how challenging sticking to a budget can be, the financial expert says “Sometimes, budgeting can be such a chore.”

This is why she recommends “having a reward in view” which “can make it easier for you to work towards achieving your financial goals.”

This particular tip definitely increases your chances of finally sticking to your budget. Don't you agree?

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