Spending Patterns to promote your Business and job

A lot of us don’t even have enough money to invest in Entrepreneurial ventures because our spending pattern is erratic.

We would be talking about knowing your spending patterns
And strategies on how you can reduce your expenses and block off leakages and excessive spending.

This is the first baby step to take.

If you take a closer look, you would see that Bukola earns a total of 839,000 after taxes.

Bukola's book of record

If you study her spending pattern, (this is for the month of September).
She has a lot of excesses that she has spent her money on and even bought on credit bringing her total expenses to #1,220,780.

She already has a shortfall of 381,780.
And she is already in debt.

We assume Bukola is a modern day banker, who works in the marketing unit and she has to dress the path.

She assumes that she needs that gucci bag and human hair.

Arguably, these are not bought on a regular basis, but is it necessary for her to achieve her set goals?

This is food for thought as you draw up your expenses sheet to know your spending pattern
Because of Bukola's tight and busy schedule, it is convenient for her to do her groceries purchases at a supermarket close to her house.

But it is also not convenient for her pockets.

So where are the leakages and what are the alternatives she has to block off these excesses.
You would find them under the notes column.

we suggested to her and great minds the following:

1. Groceries
Save cost by doing bulk purchases from a discount or wholesale shop, for our members in Nigeria, we have the local wholesale market, like Lagos Island, for our US members, Sams Club, Cosco etc.

2. Lunch at work
She can prepare a healthier meal from home in a flask.
It is cheaper.

3. Jewelries
Cut off cost

4. Aso-ebi
Cut off cost.

Apologies to the great minds who love parties but we suggested that if this is absolutely necessary, she can use the colour scheme for the day and be unique.
That saves her the cost of the tailor as well

If you agree with Me

5. Human hair
hmmm, adjust it and do according to your pocket.
Ladies before you crucify the Tutor.
No comments😆.
Brothers in the house. Help me here. 🏃🏿‍♀

6. Perfumes
Bukola has a weakness, which in the clinic we termed as 'her poison'.

She likes to smell good and goes all out to get good and original perfumes at every cost.

What is YOUR POISON?
Identify your poison and work out it

7. Recharge cards
Look for a network with a package that gives you benefits, like extra airtime when you make a recharge Purchase, e.g Glo, etc...

Also make use of social media like whatsApp to communicate with your people, purchase cheapest data from us at VAM Nigeria Enterprises @ 1gb #550
2gb #1100
Contact 08072633727

8. Cable TV
She is paying DSTV premium because she is an addict of Telemundo series.

And most of the time she is not home because of her work schedule.

It was recommended that she moved to a lower package that still has her favorite TV programme and she is paying less

At the end of the exercise, Bukola saved roughly N341,000 from her expenses and the next month, we are working with her to further reduce her expenses so she can be able to have an extra from her income, start paying off her debts
We would recommend that you take your journal and do your own exercise.

Get to know your spending pattern.
For those of us that know how to use excel please do so.

You could also use Savings Apps.

But we recommend that you do this manually for a short period of time, to understand your spending pattern and where and how you can block off your excesses.

6 decisions wives should take without consulting Husbands (Open in a new Tab)

For those of us who have businesses alongside with salaries.