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	<title>Budgeting Archives | UBA Lion King Blog</title>
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	<title>Budgeting Archives | UBA Lion King Blog</title>
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		<title>The 70-20-10 Budgeting Rule </title>
		<link>https://www.ubagroup.com/57-marina/the-70-20-10-budgeting-rule/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=the-70-20-10-budgeting-rule</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Mon, 29 Jan 2024 15:26:09 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[lion king]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=6025</guid>

					<description><![CDATA[<p>In the dynamic landscape of personal finance, finding a budgeting strategy that works for you is crucial. Use the 70-20-10 budgeting rule, a simple yet powerful framework designed to guide your financial decisions and pave the way for a secure future. In this article, we&#8217;ll delve into the 70-20-10 rule, discuss what each category encompasses, [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/the-70-20-10-budgeting-rule/">The 70-20-10 Budgeting Rule </a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p style="font-size:18px">In the dynamic landscape of personal finance, finding a budgeting strategy that works for you is crucial. Use the 70-20-10 budgeting rule, a simple yet powerful framework designed to guide your financial decisions and pave the way for a secure future. In this article, we&#8217;ll delve into the 70-20-10 rule, discuss what each category encompasses, question your financial trajectory for the month, and offer actionable steps to align with this rule for a healthier financial outlook.</p>



<h3 class="wp-block-heading" id="h-understanding-the-70-20-10-budgeting-rule"><strong>Understanding the 70-20-10 Budgeting Rule</strong></h3>



<p style="font-size:18px">The 70-20-10 budgeting rule is a widely acclaimed financial guideline that allocates your income into three distinct categories – 70% for essentials, 20% for savings or debt repayment, and 10% for personal enjoyment or discretionary spending. Let&#8217;s break down each category to gain a deeper understanding of how this rule can revolutionize your financial habits.</p>



<h4 class="wp-block-heading" id="h-1-the-70-essentials" style="font-size:18px"><strong>1. The 70% Essentials:&nbsp;</strong></h4>



<p style="font-size:18px">This chunk of your income should be dedicated to covering essential expenses, such as housing, utilities, groceries, transportation, and insurance. Essentially, it encapsulates all the non-negotiables that sustain your daily life. By limiting this category to 70%, you ensure that you&#8217;re living within your means and leaving ample room for savings and personal enjoyment.</p>



<h4 class="wp-block-heading" id="h-2-the-20-savings-or-debt-repayment" style="font-size:18px"><strong>2. The 20% Savings or Debt Repayment:&nbsp;</strong></h4>



<p style="font-size:18px">The next 20% of your income is a powerful tool for securing your financial future. This segment should be directed towards savings, investments, or aggressively paying down outstanding debts. Building an emergency fund, contributing to retirement accounts, and chipping away at high-interest debts fall under this crucial category. Allocating a significant portion of your income to this area establishes a strong foundation for long-term financial stability.</p>



<h4 class="wp-block-heading" id="h-3-the-10-personal-enjoyment" style="font-size:18px"><strong>3. The 10% Personal Enjoyment:&nbsp;</strong></h4>



<p style="font-size:18px">The remaining 10% is designated for personal enjoyment – the fun stuff! This category is your guilt-free spending zone, encompassing dining out, entertainment, hobbies, and other discretionary expenses. While it may seem modest, this portion ensures that you strike a balance between fiscal responsibility and enjoying the fruits of your labour. It&#8217;s a reward for your financial discipline and a crucial element in preventing budget burnout.</p>



<h3 class="wp-block-heading" id="h-assessing-your-financial-performance-are-you-on-track"><strong>Assessing Your Financial Performance: Are You On Track?</strong></h3>



<p style="font-size:18px">Now that we&#8217;ve unravelled the layers of the 70-20-10 budgeting rule, it&#8217;s time for a self-assessment. Reflect on your financial performance for the month and ask yourself:</p>



<p style="font-size:18px"><strong>a. Essentials (70%):</strong> Are my essential expenses within the recommended 70%? Have I prioritized needs over wants in my spending habits?</p>



<p style="font-size:18px"><strong>b. Savings or Debt Repayment (20%):</strong> Have I successfully directed 20% of my income towards savings or repaying debts? Am I taking proactive steps to secure my financial future?</p>



<p style="font-size:18px"><strong>c. Personal Enjoyment (10%):</strong> Have I allowed myself the freedom to enjoy 10% of my income guilt-free? Have I struck a balance between financial responsibility and personal pleasure?</p>



<h3 class="wp-block-heading" id="h-steps-to-achieve-the-70-20-10-budgeting-rule"><strong>Steps to Achieve the 70-20-10 Budgeting Rule</strong></h3>



<p style="font-size:18px">If your self-assessment reveals deviations from the 70-20-10 rule, fear not. Here are actionable steps to guide you back on track:</p>



<p style="font-size:18px"><strong>1. Conduct a Comprehensive Budget Review:</strong></p>



<p style="font-size:18px">a. List all your income sources and categorize your expenses.</p>



<p style="font-size:18px">b. Analyze your spending patterns and identify areas where adjustments can be made.</p>



<p style="font-size:18px">c. Ensure that your essential expenses do not surpass 70% of your income.</p>



<p style="font-size:18px"><strong>2. Prioritize Savings and Debt Repayment:</strong></p>



<p style="font-size:18px">a. Set specific savings goals, whether for emergencies, retirement, or other financial objectives.</p>



<p style="font-size:18px">b. Automate your savings by setting up automatic transfers to dedicated accounts.</p>



<p style="font-size:18px">c. Tackle high-interest debts aggressively to minimize interest payments and expedite your journey to financial freedom.</p>



<p style="font-size:18px"><strong>3. Fine-Tune Your Personal Enjoyment:</strong></p>



<p style="font-size:18px">a. Create a discretionary spending plan that aligns with the 10% guideline.</p>



<p style="font-size:18px">b. Look for ways to enjoy leisure and entertainment without overspending.</p>



<p style="font-size:18px">c. Embrace frugality and consider alternatives that bring joy without breaking the bank.</p>



<p style="font-size:18px"><strong>4. Embrace Flexibility and Adjustments:</strong></p>



<p style="font-size:18px">a. Recognize that life is dynamic, and your financial plan should adapt to changing circumstances.</p>



<p style="font-size:18px">c. Regularly revisit your budget and adjust as needed to stay aligned with the 70-20-10 rule.</p>



<h3 class="wp-block-heading" id="h-conclusion"><strong>Conclusion</strong></h3>



<p style="font-size:18px">The 70-20-10 budgeting rule is not just a financial strategy: it&#8217;s a roadmap to financial empowerment. By conscientiously adhering to this rule, you create a robust financial foundation that balances responsibility with enjoyment. Take control of your financial destiny, assess your performance, and implement the recommended steps to seamlessly integrate the 70-20-10 rule into your financial routine. As you embark on this journey, remember that financial wellness is not a destination but a continuous evolution – and the 70-20-10 rule is your steadfast guide.</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/the-70-20-10-budgeting-rule/">The 70-20-10 Budgeting Rule </a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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		<title>5 WAYS TO FUND YOUR CHILD&#8217;S EDUCATION</title>
		<link>https://www.ubagroup.com/57-marina/5-ways-to-fund-your-childs-education/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=5-ways-to-fund-your-childs-education</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Fri, 29 Sep 2023 11:37:48 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[lion king]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=5767</guid>

					<description><![CDATA[<p>According to a UNESCO report in 2022, there were about 244 million out-of-school children in the world with sub-Saharan Africa accounting for 98 million out of that staggering figure. The only way to stem the tide of this heartbreaking situation is to ensure that funds are readily available to give them quality education. Funding your [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/5-ways-to-fund-your-childs-education/">5 WAYS TO FUND YOUR CHILD&#8217;S EDUCATION</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">According to a UNESCO report in 2022, there were about 244 million out-of-school children in the world with sub-Saharan Africa accounting for 98 million out of that staggering figure. The only way to stem the tide of this heartbreaking situation is to ensure that funds are readily available to give them quality education. Funding your child&#8217;s education can be a significant financial commitment, but there are ways you can go about covering the costs. Here are 5 approaches that can help you fund your kid’s education:</span></p>



<h3 class="wp-block-heading" id="h-savings"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Savings</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Saving towards a goal is one of the greatest life hacks that ever existed. Not only do you achieve what you set out to achieve, but you also learn the habit of discipline. It is advisable that you start saving early towards your kid’s education so that it doesn’t become too much of a burden when the time eventually comes. There are savings accounts like the <a href="https://www.ubagroup.com/nigeria/personal-banking/accounts/savings-accounts/kids-savings-account/">Kiddies</a> and <a href="https://www.ubagroup.com/nigeria/personal-banking/accounts/savings-accounts/teens-account/">Teens</a> accounts that are tailored towards saving for your kid’s future.</span></p>



<h3 class="wp-block-heading" id="h-investments"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Investments</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Investing in your kid’s future is one of the biggest gifts you could ever give them. You can set aside some properties or other valuable assets in a trust fund for your kids, to be used specifically to fund their education. That way, you can rest assured that their education is secured.</span></p>



<h3 class="wp-block-heading" id="h-scholarships"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Scholarships</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Research scholarships and encourage your child to excel academically and apply for them. If they are selected, some level of financial stress will be taken from you. UBA Plc is offering a N200k scholarship in the Super Savers draw to assist with school supplies.</span></p>



<h3 class="wp-block-heading" id="h-loans"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Loans</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">This is another way to fund your child’s education. There are loans that are packaged to take care of schooling. You can also take a personal loan for this purpose. You could get as much as N30 million when you apply for a <a href="https://www.ubagroup.com/nigeria/personal-banking/loans-payments/personal-loans/">personal loan</a> at UBA Plc. The interest rate is quite competitive and the repayment plan is very flexible.</span></p>



<h3 class="wp-block-heading" id="h-grants"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Grants</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Find out about your child’s eligibility for educational grants and apply. There are government agencies and private organisations that give grants to students who qualify. One of such private organisations is the UBA Foundation. The UBA Foundation offers students up to N5 million in educational grants to any university of their choice within Africa if they come tops in the foundation’s annual National Essay Competition (NEC). These grants go a long way in funding their education. Grants are sometimes huge enough to cover the total cost of education.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Education is a major driver of economic prosperity and stability for this fact, UBA Plc is always there to bridge the gap to your kid’s future with the offerings in the Back to School Campaign. Giving your child quality education should be the topmost of your priority. These approaches can save you the worry of how to finance your child’s education.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">For more info on how to fund your child’s education, visit <a href="https://www.ubagroup.com/nigeria/back-to-school/">Back to School Campaign</a>.</span></p>
<p>The post <a href="https://www.ubagroup.com/57-marina/5-ways-to-fund-your-childs-education/">5 WAYS TO FUND YOUR CHILD&#8217;S EDUCATION</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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		<title>SMART WAYS YOU CAN SAVE MONEY AS A STUDENT</title>
		<link>https://www.ubagroup.com/57-marina/smart-ways-you-can-save-money-as-a-student/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=smart-ways-you-can-save-money-as-a-student</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Mon, 25 Sep 2023 09:34:50 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[lion king]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=5743</guid>

					<description><![CDATA[<p>Studying at the university is challenging and being broke on top of that makes it even worse. Imagine studying for an exam with a terribly rumbling stomach due to hunger. This is a situation that some students have been in before and hope not to ever relive. If you’ve never had a “sapa” moment in [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/smart-ways-you-can-save-money-as-a-student/">SMART WAYS YOU CAN SAVE MONEY AS A STUDENT</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Studying at the university is challenging and being broke on top of that makes it even worse. Imagine studying for an exam with a terribly rumbling stomach due to hunger. This is a situation that some students have been in before and hope not to ever relive. If you’ve never had a “sapa” moment in school, then it’s safe to say you have plenty of money—emphasis on PLENTY. To be fair to our parents, the sapa is sometimes self-imposed due to our spending habits and lifestyle as students. You have got to free yourself from that broke-student web and here are some ways you could:</span></p>



<h3 class="wp-block-heading" id="h-create-a-budget"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Create a budget</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">This is the first thing you must do if you have to save money. Not having a budget means anything goes when it comes to your spending. A budget will make you cut unnecessary spending and give you a clear distinction between your wants and needs. Having a budget will also help you practise delayed gratification.</span></p>



<h3 class="wp-block-heading" id="h-buy-or-rent-used-books-for-class"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Buy or rent used books for class</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">You will have some money to save if you rent books or buy used ones instead of paying full price or buying new ones. You can ask fellow students who are willing to rent out their textbooks or senior students who wish to sell their junior class textbooks. You can even go online to rent or buy used books.</span></p>



<h3 class="wp-block-heading" id="h-sign-up-for-a-student-friendly-bank"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Sign up for a student-friendly bank</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Instead of operating a bank account that doesn’t take your status as a student into consideration, look for one that is student-friendly with minimal operating fees. I know that UBA Plc has an account that is created specially for undergrads called the <a href="https://www.ubagroup.com/nigeria/personal-banking/accounts/savings-accounts/nextgen-account/">NextGen Account</a>. This account is super easy to open and manage. You are paid a monthly interest for saving, plus you do not get charged for SMS alerts and card maintenance. How cool is that! That’s not all, you could even win N15k monthly pocket money for a whole year and say goodbye to your broke days if you save N5k and participate in the <a href="https://www.ubagroup.com/nigeria/supersavers/">super savers draw</a>. The Next Gen account also gives you access to business workshops and masterclasses that will impact your life positively after school. There is also a chance to become a student ambassador and let other students in on the benefits of saving their money in a UBA NextGen account.</span></p>



<h3 class="wp-block-heading" id="h-get-a-part-time-job"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Get a part-time job</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">A little extra cash never hurt anyone. Getting a side job as a student will leave you some extra money that you can put away in a savings account. While at it, ensure that your side geek doesn’t interfere with your schoolwork.</span></p>



<h3 class="wp-block-heading" id="h-take-advantage-of-student-discounts"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Take advantage of student discounts</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">There are restaurants, retailers and some other service providers that give discounts to students for using their products and services. Using places like these will help you save on your everyday expenses.</span></p>



<h3 class="wp-block-heading" id="h-share-bills"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Share bills</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Sharing your bills with a fellow student is another smart way to save money. Consider renting a house with someone and sharing the utility bills and rent. This will save you some money as opposed to taking care of the bills on your own.</span></p>



<h3 class="wp-block-heading" id="h-unsubscribe-from-unnecessary-streaming-platforms"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Unsubscribe from unnecessary streaming platforms</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Check your gadgets. Do you have all the streaming platforms downloaded? It is time to unsubscribe from the ones that are not necessary. They offer similar services anyway, so why spend so much money on the same stuff? It is even advisable you share these streaming services with friends or family so that you can split the subscription costs to lessen the financial strain on your pocket.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Cultivating a good savings culture as a student will prepare you for the bigger life stage and give you the discipline you need to make it easier to achieve your set goals. They say, &#8220;Little drops of water make a mighty ocean.&#8221; So, start saving today!</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Read Also: Savings Account Vs Current Account: Which is Right for You?</span></p>
<p>The post <a href="https://www.ubagroup.com/57-marina/smart-ways-you-can-save-money-as-a-student/">SMART WAYS YOU CAN SAVE MONEY AS A STUDENT</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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		<title>WAYS TO INSTIL A SAVINGS CULTURE IN YOUR KIDS</title>
		<link>https://www.ubagroup.com/57-marina/ways-to-instil-a-savings-culture-in-your-kids/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=ways-to-instil-a-savings-culture-in-your-kids</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Tue, 12 Sep 2023 08:38:39 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[lion king]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=5718</guid>

					<description><![CDATA[<p>Remember when visitors would come to your house and give you money when they were leaving, and your mum would tell you to give her the money so that she could keep it safe for you until you needed it? Did you ever see that money again? &#160;We thought they were keeping it for a [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/ways-to-instil-a-savings-culture-in-your-kids/">WAYS TO INSTIL A SAVINGS CULTURE IN YOUR KIDS</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Remember when visitors would come to your house and give you money when they were leaving, and your mum would tell you to give her the money so that she could keep it safe for you until you needed it? Did you ever see that money again? &nbsp;We thought they were keeping it for a rainy day but, alas, when the rainy day came, we were drenched in disappointment. That’s how our trust issues began (African mums come and catch your sub). Imagine if they had kept the money and given it to us when we needed it. That would have been a very valuable lesson on saving now to enjoy later, but we love them regardless. Instilling a savings culture in your kids is an important life skill that will serve them well in the future. Here are some tips to help you teach your children about saving money:</span></p>



<h3 class="wp-block-heading" id="h-lead-by-example"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Lead by Example</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Children learn by observing their parents. Demonstrating good saving habits and financial responsibility in your own life is one of the most effective ways to teach your kids.</span></p>



<h3 class="wp-block-heading" id="h-set-up-savings-accounts"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Set Up Savings Accounts</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Help your children open their own savings accounts. This gives them a place to deposit money and watch it grow over time. UBA has the&nbsp; <a href="https://www.ubagroup.com/nigeria/personal-banking/accounts/savings-accounts/teens-account/">Teens</a> and <a href="https://www.ubagroup.com/nigeria/personal-banking/accounts/savings-accounts/kids-savings-account/">Kiddies</a> accounts specially curated for this purpose. Imagine the joy your child would feel if you saved money for them from day one till they turn eighteen after which you give them access to it.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Now picture a situation where they get rewarded for saving. This is exactly what could happen when you maintain a minimum balance of N10k every month for 6 months in their Teens or Kiddies account in the <a href="https://www.ubagroup.com/nigeria/supersavers/">Super Savers Draw</a>. You know how people complain about the beginning of the year being tough financially, winning a N200k scholarship in the draws can ease the financial burden of getting school supplies when they are back to school in the new year. The good news is these draws are open to new and existing customers. So, hurry now and open a Teens or Kiddies account for your child and save to qualify.</span></p>



<h3 class="wp-block-heading" id="h-give-an-allowance"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Give an Allowance</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Consider giving your children an allowance, either tied to chores or as a way to teach them about money management</span></p>



<h3 class="wp-block-heading" id="h-teach-goal-setting"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Teach Goal Setting</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Help your kids set savings goals. Whether it&#8217;s a new toy, a bike, or something else they want, having a specific goal can motivate them to save. If they get distracted while trying to achieve their goals, encourage them to learn from their mistakes and start over.</span></p>



<h3 class="wp-block-heading" id="h-encourage-delayed-gratification"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Encourage Delayed Gratification</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Teach your kids the value of waiting for something they want. Delayed gratification is an important aspect of saving.</span></p>



<h3 class="wp-block-heading" id="h-discuss-wants-vs-needs"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Discuss Wants vs. Needs</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Teach your child the difference between wants (items they desire but don&#8217;t necessarily need) and needs (essential items like food and clothing). Teach them to prioritise their spending.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Please be patient and consistent as you try to instil a savings culture in your kids. These things may not stick on the first try but as they grow, these principles will begin to manifest. Do not forget to celebrate when they reach a savings milestone this will encourage them to continue to save.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Read Also: <a href="https://www.ubagroup.com/57-marina/bad-money-habits-that-nearly-finished-me/">Bad Money Habits That Nearly Finished Me</a></span></p>
<p>The post <a href="https://www.ubagroup.com/57-marina/ways-to-instil-a-savings-culture-in-your-kids/">WAYS TO INSTIL A SAVINGS CULTURE IN YOUR KIDS</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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		<title>4 WAYS TO STAY OUT OF DEBT</title>
		<link>https://www.ubagroup.com/57-marina/4-ways-to-stay-out-of-debt/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=4-ways-to-stay-out-of-debt</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Thu, 24 Aug 2023 10:24:04 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[lion king]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=5636</guid>

					<description><![CDATA[<p>Getting out of debt is not easy. Sometimes it takes all you have to keep up with monthly bills, needs, your lifestyle and saving for a rainy day. However, it is something you can do yourself with the right tools and motivation. Here are a few tips to help you get out of debt: 1. [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/4-ways-to-stay-out-of-debt/">4 WAYS TO STAY OUT OF DEBT</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Getting out of debt is not easy. Sometimes it takes all you have to keep up with monthly bills, needs, your lifestyle and saving for a rainy day. However, it is something you can do yourself with the right tools and motivation. Here are a few tips to help you get out of debt:</span></p>



<h3 class="wp-block-heading" id="h-1-pay-more-than-the-minimum-payment"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">1. <strong>Pay more than the minimum payment</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Analyse your budget and decide how much more money you can put towards your debt. Paying more than the minimum will save you money on interest and help you get out of debt faster and making extra payments each month on your debt can help reduce the remaining amount drastically, thereby getting you out of debt sooner than you expect.</span></p>



<h3 class="wp-block-heading" id="h-2-adjust-your-budget"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">2. <strong>Adjust your budget</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">You can pay off your debt faster if you earn more or spend less. Look for ways to diversify your income. Where this is not feasible, you adjust your budget by cutting down on unnecessary spending. Let your spending be according to priority. Do a list of what you need and what you want after that, highlight what you need and pay less attention to what you want. what you want. Adjusting your budget will leave you some money to pay extra on your debt.</span></p>



<h3 class="wp-block-heading" id="h-3-explore-side-hustles"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">3. <strong>Explore side hustles </strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Sometimes, relying on your earnings from your regular job might not be enough to clear off your debts fast enough. In this case, consider working a side hustle or taking up an extra job. Look through the skills you have and determine the ones to monetise and profit from. Skills such as web design, writing, coding or graphic design can earn you some extra cash. You can also pick up side hustles from home, like selling old clothes online or tutoring. The money earned from these hustles can be put into ensuring your debt is paid off faster.</span></p>



<h3 class="wp-block-heading" id="h-4-take-loans-with-lower-interest-rates"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">4. <strong>Take loans with lower interest rates</strong></span></h3>



<figure class="wp-block-image size-full"><img fetchpriority="high" decoding="async" width="1000" height="667" src="https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/BLOG-IMAGES-180823-4.jpg" alt="" class="wp-image-5638" srcset="https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/BLOG-IMAGES-180823-4.jpg 1000w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/BLOG-IMAGES-180823-4-768x512.jpg 768w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/BLOG-IMAGES-180823-4-696x464.jpg 696w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/BLOG-IMAGES-180823-4-630x420.jpg 630w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/BLOG-IMAGES-180823-4-24x16.jpg 24w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/BLOG-IMAGES-180823-4-36x24.jpg 36w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/BLOG-IMAGES-180823-4-48x32.jpg 48w" sizes="(max-width: 1000px) 100vw, 1000px" /></figure>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Sometimes debts are unavoidable. There are some important projects that are time bound and require huge amounts of money which you may not have readily available at the time, in such cases, the viable option would be to take a loan to make up for the shortfall of the amount needed. If you must take a loan, ensure that the interest rate is low or not too high to make repayment easy. A huge debt in the middle of an economic crisis is a great burden.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Being out of debt comes with so much relief and peace of mind. Sometimes the thought of having a huge debt can ruin your entire mood especially if you do not see a way out in the shortest possible time. Avoiding debt altogether is almost impossible so the best bet is to always look for ways to get out of it quickly.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Read Also: <a href="https://www.ubagroup.com/57-marina/5-ways-to-save-and-splurge-wisely/">5 Ways to Save and Splurge Wisely</a></span></p>
<p>The post <a href="https://www.ubagroup.com/57-marina/4-ways-to-stay-out-of-debt/">4 WAYS TO STAY OUT OF DEBT</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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		<title>6 STRATEGIES TO HELP YOU COPE WITH INFLATION</title>
		<link>https://www.ubagroup.com/57-marina/6-strategies-to-help-you-cope-with-inflation/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=6-strategies-to-help-you-cope-with-inflation</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Mon, 07 Aug 2023 08:17:14 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[lion king]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=5602</guid>

					<description><![CDATA[<p>The same goods you bought last year cannot be bought this year with the same amount of money because the prices have quadrupled. Does that sound familiar? That is what inflation does to your purchasing power, it reduces it. Nigerians are currently grappling with the effects of inflation. Every sector of the economy has been [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/6-strategies-to-help-you-cope-with-inflation/">6 STRATEGIES TO HELP YOU COPE WITH INFLATION</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">The same goods you bought last year cannot be bought this year with the same amount of money because the prices have quadrupled. Does that sound familiar? That is what inflation does to your purchasing power, it reduces it.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Nigerians are currently grappling with the effects of inflation. Every sector of the economy has been badly hit by this especially, food and transportation—subsidy was removed on petrol. According to the National Bureau of Statistics (NBS) as of June 2023, inflation stood at 22.79%. Food inflation spiked to 25.25% in June 2023 compared to 20.60% in June 2022. For a country that has more than 133 million of its citizens living in multidimensional poverty, another report from the NBS in June 2023, this will bring untold hardship to the larger population.</span></p>



<figure class="wp-block-image size-full"><img decoding="async" width="1000" height="667" src="https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/Inflation-2.jpg" alt="Tips to help you cope with inflation" class="wp-image-5604" srcset="https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/Inflation-2.jpg 1000w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/Inflation-2-768x512.jpg 768w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/Inflation-2-696x464.jpg 696w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/Inflation-2-630x420.jpg 630w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/Inflation-2-24x16.jpg 24w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/Inflation-2-36x24.jpg 36w, https://www.ubagroup.com/57-marina/wp-content/uploads/sites/4/2023/08/Inflation-2-48x32.jpg 48w" sizes="(max-width: 1000px) 100vw, 1000px" /></figure>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Coping with this new reality can be challenging but there are strategies you can come up with to help you mitigate the impact of inflation on your financial wellbeing. </span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 16pt"><strong>How to Cope With Inflation and Manage Your Finances</strong></span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Budgeting and Prioritising: </strong>Create a comprehensive budget that accounts for all your expenses and income. Prioritise your spending on essential items, such as food, housing, and healthcare, while minimising non-essential expenses. Having and following a budget will help you manage your finances in a period of inflation.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Diversify Investments:</strong> Inflation erodes the purchasing power of money, therefore, you should make wise investment decisions. Diversify your investment portfolio. This is advisable because inflation may not have the same impact on different sectors of the economy. For example, if the commodities market is affected, real estate may be booming. This will reduce the risk and help you cope with inflation.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Invest in Yourself:</strong> This will increase your chances of staying relevant in the ever-dynamic business world and also increase your earning. Inflation oftentimes affects jobs. Companies have to make the tough decision of retrenching their staff go but if you have the essential skill needed to run the company, your job will be protected. Self-improvement hedges you against job loss during an economic recession.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Pay Down Debt:</strong> Inflation can decrease the real value of your debt over time, making it advantageous to have fixed-rate debts during high inflation periods. However, variable-rate debt can become more expensive to service. If possible, focus on paying down high-interest debts to reduce financial strain in an inflationary environment.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Diversify Your Income:</strong> Take on side gigs to augment your income. More income can help you absorb the impact of rising prices.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Build an Emergency Fund:</strong> An emergency fund is crucial during an inflationary period. In case of a job loss or an unplanned expense arises during this period, you would have something to fall back on.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Inflation is beyond your control and can happen at any time. So, always be prepared financially when it hits.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Read Also: <a href="https://www.ubagroup.com/57-marina/how-to-attain-financial-freedom/">How to Attain Financial Freedom</a></span></p>
<p>The post <a href="https://www.ubagroup.com/57-marina/6-strategies-to-help-you-cope-with-inflation/">6 STRATEGIES TO HELP YOU COPE WITH INFLATION</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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		<title>IMPORTANCE OF FINANCIAL LITERACY</title>
		<link>https://www.ubagroup.com/57-marina/importance-of-financial-literacy/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=importance-of-financial-literacy</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Fri, 23 Jun 2023 20:29:19 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[lion king]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=5438</guid>

					<description><![CDATA[<p>The knowledge and understanding of how to manage your finances is known as financial literacy. It is crucial to be financially literate in today’s world in order to be able to make informed financial decisions and take bold financial steps. Here are some reasons financial literacy is important: Budgeting Financial literacy equips you with the [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/importance-of-financial-literacy/">IMPORTANCE OF FINANCIAL LITERACY</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">The knowledge and understanding of how to manage your finances is known as financial literacy. It is crucial to be financially literate in today’s world in order to be able to make informed financial decisions and take bold financial steps. Here are some reasons financial literacy is important:</span></p>



<h3 class="wp-block-heading" id="h-budgeting"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Budgeting</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Financial literacy equips you with the knowledge of how to spend your money based on your income. You plan how to spend your money in order of priority. Budgeting helps you avoid unnecessary spending and unnecessary debts.</span></p>



<h3 class="wp-block-heading" id="h-saving"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Saving</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Putting some money away for future use is a necessary skill to possess if you want to survive in a financially driven economy. A financially literate person would know that not all their income is to be spent. Some amount, no matter how little, has to be put aside for future consumption. Your savings can be separated into long-term goals and emergency funds. Having emergency funds will ensure that you do not erode into your long-term savings or incur debt in case you are in financial distress.</span></p>



<h3 class="wp-block-heading" id="h-investment"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Investment</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Financial literacy gives insight into the sectors of the economy that is viable to invest in. i.e., it helps you make the right investment decisions. It helps you forecast the economy and predict what the future might look like, which can guide you in your investment decisions. Instead of having money sitting idle in your account or in a safe somewhere, you are better off putting that money into a business or other investment options that will yield dividends as time progresses.</span></p>



<h3 class="wp-block-heading" id="h-insurance"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Insurance</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Accidents are unforeseen. Therefore, it is advisable to put things in place to alleviate your troubles if they occur. Insurance comes in here. Insurance gives you protection against potential financial losses and liabilities. When your life and property are insured, you transfer bearing the risk to the insurer. This knowledge is not inborn. You must be financially literate to know this.</span></p>



<h3 class="wp-block-heading" id="h-retirement"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Retirement</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Being financially literate helps you plan for retirement. Having a fulfilling retirement depends on how it is planned. You can achieve this by saving and investing. Financial literacy provides you with a safety net in terms of your investment and savings to help you with your living expenses when you are retired. If the plan is to have an early retirement, financial literacy will guide you and provide the necessary skills to make a sound financial decision to be able to achieve this.</span></p>



<h3 class="wp-block-heading" id="h-debt-management-and-avoidance"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Debt Management and Avoidance</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">These are essential aspects of personal finance that can impact your financial well-being and long-term stability. A financially literate person will know the debts that can be incurred and the ones that should not. Being financially literate will help you strategise your debt repayment plan and method. Understanding interest rates, credit scores, and the implications of different types of debt empower individuals to make informed decisions and take control of their financial situations.</span></p>



<h3 class="wp-block-heading" id="h-calculated-risk"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>Calculated Risk</strong></span></h3>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Calculated risk means making a decision or taking an action after carefully considering the potential risks and benefits involved. It involves analysing available information, evaluating the likelihood of various outcomes, and making an informed judgement about the potential rewards and potential negative consequences. Financial literacy helps you take calculated risks.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Attaining your financial goals is easier when you are financially literate. Financial literacy also helps you contribute to economic growth as an entrepreneur. There should be financial literacy programmes regularly to educate people on how to take charge of their finances.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Read Also: <a href="https://www.ubagroup.com/57-marina/financial-inclusion-for-people-living-with-disabilities/">Financial Inclusion For People Living With Disabilities </a></span></p>
<p>The post <a href="https://www.ubagroup.com/57-marina/importance-of-financial-literacy/">IMPORTANCE OF FINANCIAL LITERACY</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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		<title>7 WAYS TO STICK TO YOUR GOAL(S) IN 2023</title>
		<link>https://www.ubagroup.com/57-marina/7-ways-to-stick-to-your-goals-in-2023/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=7-ways-to-stick-to-your-goals-in-2023</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Mon, 30 Jan 2023 12:42:20 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Financial Planning]]></category>
		<category><![CDATA[lifestyle]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=5254</guid>

					<description><![CDATA[<p>We’ve all had that strong conviction at some point to take charge of our lives and become better versions of ourselves but found out in the long run, it was easier said than done. The new year for most people is the perfect time to start on a clean slate- I mean, new year, new [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/7-ways-to-stick-to-your-goals-in-2023/">7 WAYS TO STICK TO YOUR GOAL(S) IN 2023</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">We’ve all had that strong conviction at some point to take charge of our lives and become better versions of ourselves but found out in the long run, it was easier said than done. The new year for most people is the perfect time to start on a clean slate- I mean, new year, new me right? We tend to make resolutions at the beginning of the year but a lot of us don’t follow through with those resolutions.</span>&nbsp;</p>



<h2 class="wp-block-heading" id="h-how-to-achieve-your-2023-goals"><span style="font-family: 'Roboto', sans-serif;font-size: 16pt"><strong>How to Achieve Your 2023 Goals</strong></span></h2>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Here are 7 tips to help you achieve your goals for the New Year</span>:</p>



<h4 class="wp-block-heading" id="h-1-make-sure-your-goal-is-smart"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>1. Make sure your goal is SMART</strong></span></h4>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">SMART is an acronym for specific, measurable, achievable, realistic, and timely. Your goal must be clear from the get-go. It is fine to have tall dreams but the time frame for achieving those dreams should be realistic. You do not expect to become a tech expert for instance, in just one year if you are just starting out in the tech ecosystem, but if you said in a few years, that would be realistic and achievable.</span></p>



<h4 class="wp-block-heading" id="h-2-write-it-them-down"><strong>2. <span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Write it/them down</span></strong></h4>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Writing it down will help you keep track of the things you want to achieve and can also be a sort of motivation. Looking at your goals staring you right in the face every morning can give you a mental picture of what your life would be like if you followed through or what it wouldn’t.</span></p>



<h4 class="wp-block-heading" id="h-3-be-focused-disciplined"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>3. Be focused/ disciplined</strong></span></h4>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">It is very easy to get distracted when you are trying to achieve a goal, especially now that we all have our heads buried deep inside our mobile phones and other gadgets. Addiction to social media has become a thing as some people just cannot stay off of them even for a few minutes. You’d be amazed at how much more focused you’d be by limiting or eliminating the things that take your eyes off your goal. The trick is to starve your distractions and feed your focus.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">If financial discipline is your goal for the new year, you can start by pegging your spending at a particular limit. You can give a standing order to pay a larger percentage of your money into a <a href="https://www.ubagroup.com/nigeria/target-account/">UBA Target Account</a> or its equivalent in your location and leave the rest for your day-to-day spending.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Another way is to get a <a href="https://www.ubagroup.com/nigeria/personal-banking/cards/prepaid-cards/">UBA prepaid</a> card and load the specific amount you want to spend or simply download the UBA Mobile app to make sure you do not overshoot your budget. Kindly visit the nearest UBA branch to get one.</span></p>



<h4 class="wp-block-heading" id="h-4-be-accountable"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>4. Be accountable</strong></span></h4>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">You can be accountable to yourself or get an accountability partner to help you get back on track when you fall by the wayside. Set a reward and reprimand system for yourself. Each time you strike an item off your to-do list, give yourself a treat no matter how little and when you do not, due to indiscipline, you deny yourself something you enjoy. That way, you would think of the consequences before taking any action.</span></p>



<h4 class="wp-block-heading"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>5. Take it one step at a time</strong></span></h4>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Wanting to do everything at the same time can be overwhelming and may lead you to quit. Be focused on achieving one goal at a time. From the list of things you hope to achieve in the new year, attach a time frame to each of them. If your goal is to transition to a new career, break down the process of achieving this into small bits and do them one after the other instead of jumping into the whole process head-on. Always remember, a win is a win no matter how small.</span></p>



<h4 class="wp-block-heading"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>6. Don’t be afraid of challenges</strong></span></h4>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">See every obstacle as a learning curve, not an excuse to give up. It’s nice to cut yourself some slack sometimes. If you don’t succeed the first time, try, try again.</span></p>



<h4 class="wp-block-heading"><span style="font-family: 'Roboto', sans-serif;font-size: 14pt"><strong>7. Set goals you are passionate about</strong></span></h4>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">This is vital so you don’t end up chasing shadows. Your goals should not be based on other people’s goals. The fact that other people are headed in a particular direction at the moment doesn’t mean you should be pressured to join the bandwagon if that’s not what you really want for yourself. Doing what you are not convinced is right for you can be tedious no matter how exciting you might try to make it.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">A basic example of this is, let’s say your goal for the new year is to lose weight and one of the processes is to take long walks but you loathe those, you can simply replace this process with a fun activity that you enjoy doing that also helps you burn calories like dancing. After all, they say the end justifies the means.</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Being your own competition will always take the pressure off you, so get up and go better yourself!</span></p>



<p><span style="font-family: 'Roboto', sans-serif;font-size: 14pt">Read Also: <a href="https://www.ubagroup.com/57-marina/how-to-plan-for-retirement/">How to Plan for Retirement</a></span> </p>
<p>The post <a href="https://www.ubagroup.com/57-marina/7-ways-to-stick-to-your-goals-in-2023/">7 WAYS TO STICK TO YOUR GOAL(S) IN 2023</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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		<title>HOW TO ATTAIN FINANCIAL FREEDOM </title>
		<link>https://www.ubagroup.com/57-marina/how-to-attain-financial-freedom/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=how-to-attain-financial-freedom</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Wed, 12 Oct 2022 09:37:08 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Financial Planning]]></category>
		<category><![CDATA[Investment/Savings]]></category>
		<category><![CDATA[lion king]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=5192</guid>

					<description><![CDATA[<p>Having financial freedom means different things to different people. It could mean having enough money to afford a certain lifestyle, travel around the world, pursue a new business venture, relocate to another country, or even plan for retirement. To attain financial freedom, you need to have a financial cushion like savings and investments beyond having [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/how-to-attain-financial-freedom/">HOW TO ATTAIN FINANCIAL FREEDOM </a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Having financial freedom means different things to different people. It could mean having enough money to afford a certain lifestyle, travel around the world, pursue a new business venture, relocate to another country, or even plan for retirement.</span></p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">To attain financial freedom, you need to have a financial cushion like savings and investments beyond having a normal salary.</span>&nbsp;</p>



<h2 class="wp-block-heading" id="h-how-to-achieve-financial-freedom"><span style="font-family: 'Roboto', sans-serif; font-size: 18pt;"><strong>How to Achieve Financial Freedom</strong></span></h2>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Here are 6 good habits to help you attain financial freedom;</span></p>



<h4 class="wp-block-heading" id="h-1-organise-your-finances"><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;"><strong>1.</strong> <strong>Organise Your Finances</strong></span>&nbsp;</h4>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Make a consolidation of all your <a href="https://www.ubagroup.com/nigeria/personal-banking/accounts/savings-accounts/" target="_blank" rel="noreferrer noopener">savings,</a> investment, debts, insurance, and non-financial assets. Set your life goals, create a budget to achieve your goals, and have an automatic cash flow.</span>&nbsp;</p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Creating a budget is also a good way to organise your finances. By mastering a frugal lifestyle – living a good life with less or spending less and saving more you can attain financial freedom. You will need to handle your wealth with modesty by distinguishing between what you need and what you want.</span>&nbsp;</p>



<h4 class="wp-block-heading" id="h-2-start-investing-today"><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;"><strong>2.</strong> <strong>Start Investing Today</strong></span>&nbsp;</h4>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Explore investing in the stock market, buying a <a href="https://www.ubagroup.com/nigeria/corporate-banking/treasury-products/treasury-bills/" target="_blank" rel="noreferrer noopener">treasury bill</a>, buying shares in a reputable company, leasing property or opening a fixed deposit account. These are all good options to help strengthen and diversify your financial portfolio.</span>&nbsp;</p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Your investment choice should be influenced by tax, liquidity, diversification, investment tenure, and investment risk. Investing is a long-term goal and you must be fully aware of the pros and cons to reduce the risk of a costly decision.</span></p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Also, consider making use of your company’s pension plan and any other contribution benefit available to help you save more from your salary.</span>&nbsp;</p>



<h4 class="wp-block-heading" id="h-3-educate-yourself-on-financial-trends-issues"><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;"><strong>3.</strong> <strong>Educate Yourself on Financial Trends/Issues</strong></span>&nbsp;</h4>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Keep up with financial developments in the stock markets, stay updated on the news and do not hesitate to make changes in your investments if necessary. Review the tax laws and check that your investments apply these updates or deductions as the case may be.</span>&nbsp;</p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Staying informed would also save you from fraudsters who prey on <a href="https://www.ubagroup.com/investor-relations/" target="_blank" rel="noreferrer noopener">investors</a>. Ensure your financial strategy is up to date as your goals or life continue to change over time.</span>&nbsp;</p>



<h4 class="wp-block-heading" id="h-4-pay-off-your-debts"><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;"><strong>4.</strong> <strong>Pay Off Your Debts</strong></span>&nbsp;</h4>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Attaining financial freedom also involves being debt free. From car loans to business capital loans, student loans, mortgages and any other high-interest consumer loans are toxic to wealth growth.</span>&nbsp;</p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">However, interest loans are important and can help you achieve some of your life goals but on-time payments will build your credit and help your financial portfolio. Make it a point to pay the full balance of your debt each month.</span> </p>



<h4 class="wp-block-heading" id="h-5-prepare-an-emergency-fund"><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;"><strong>5. Prepare an Emergency Fund</strong></span></h4>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Your emergency and retirement funds should be pulled out of your account the day you receive your salary to avoid spending it or gaining access to it. This would help you stay more committed to your financial goals.&nbsp;</span></p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Remember that the recommended amount to save in your emergency fund depends on your lifestyle and circumstance. Explore having an automatic withdrawal into your emergency fund which can be accessed for unexpected expenses.</span>&nbsp;</p>



<h4 class="wp-block-heading" id="h-6-get-a-financial-advisor"><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;"><strong>6.</strong> <strong>Get a Financial Advisor</strong></span><strong> </strong></h4>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">After amassing a decent amount of wealth – either fixed assets or liquid assets, you will need a financial advisor to help you maintain your finances and remain on the right path.</span>&nbsp;</p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Read Also: <a href="https://www.ubagroup.com/57-marina/3-ways-to-make-your-money-work-for-you/" target="_blank" rel="noreferrer noopener">3 Ways to Make Your Money Work for You</a></span>&nbsp;</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/how-to-attain-financial-freedom/">HOW TO ATTAIN FINANCIAL FREEDOM </a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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		<title>3 WAYS TO MAKE YOUR MONEY WORK FOR YOU</title>
		<link>https://www.ubagroup.com/57-marina/3-ways-to-make-your-money-work-for-you/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=3-ways-to-make-your-money-work-for-you</link>
		
		<dc:creator><![CDATA[]]></dc:creator>
		<pubDate>Wed, 05 Oct 2022 11:05:52 +0000</pubDate>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Financial Planning]]></category>
		<category><![CDATA[Investment/Savings]]></category>
		<category><![CDATA[lion king]]></category>
		<guid isPermaLink="false">https://www.ubagroup.com/57-marina/?p=5186</guid>

					<description><![CDATA[<p>Making your money work for you is an important step to take on the road to financial security and independence. If you’re fortunate to have a bit of extra income that isn’t budgeted for expenses and you’re wondering what to do with it, here are 3 ways to make your money work for you.&#160;&#160; 1. [&#8230;]</p>
<p>The post <a href="https://www.ubagroup.com/57-marina/3-ways-to-make-your-money-work-for-you/">3 WAYS TO MAKE YOUR MONEY WORK FOR YOU</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Making your money work for you is an important step to take on the road to financial security and independence. If you’re fortunate to have a bit of extra income that isn’t budgeted for expenses and you’re wondering what to do with it, here are 3 ways to make your money work for you.</span>&nbsp;&nbsp;</p>



<h4 class="wp-block-heading"><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;"><strong>1. Create Specific Financial Goals</strong></span>&nbsp;</h4>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Creating a financial goal is the first thing you have to do if you want to deploy your money to a channel that will multiply. You have to ensure that your financial goals adequately benefit you in the long run.</span></p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Setting goals like buying a house when you are a certain age or at a certain stage in your life, early retirement, relocating to a new country or even a new apartment, buying a car etc., can be achieved by having a stream of passive income.</span>&nbsp;</p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Read Also: <a href="https://www.ubagroup.com/57-marina/everything-you-need-to-know-about-nqr-payments/">Everything You Need to Know About NQR Payments</a></span></p>



<h4 class="wp-block-heading"><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;"><strong>2. Grow your income by investing</strong></span>&nbsp;</h4>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Investing is a really great option to expand your financial portfolio and grow your money. There are various instruments and assets you can invest in depending on your capabilities. The safest and most secure investment plan is <a href="https://www.ubagroup.com/nigeria/corporate-banking/treasury-products/treasury-bills/">Treasury bills</a>. Other great investment plans are investing in the stock market, mutual funds, real estate, or a start-up.</span></p>



<h4 class="wp-block-heading"><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;"><strong>3. Consider opening a fixed deposit account&nbsp;</strong></span>&nbsp;</h4>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">A <a href="https://www.ubagroup.com/nigeria/personal-banking/accounts/fixed-deposit-account/">fixed deposit account</a> is different from a <a href="https://www.ubagroup.com/nigeria/personal-banking/accounts/savings-accounts/">savings account</a> and a current account because it is an investment account. With a fixed deposit account, you are not just saving your money, but investing it (fixed deposit) with an agreed interest rate within an agreed time frame (tenure).</span>&nbsp;&nbsp;</p>



<p><span style="font-family: 'Roboto', sans-serif; font-size: 14pt;">Having a fixed deposit account provides a higher interest rate compared to having a savings or <a href="https://www.ubagroup.com/nigeria/personal-banking/accounts/current-account/">current account</a>. You get your capital plus the interest upon maturity. Depending on what you want to do with the money, you can choose to roll over the capital and take the interest or roll over the capital and the interest or not roll over upon maturity and just liquidate.&nbsp;</span>&nbsp;</p>



<p></p>
<p>The post <a href="https://www.ubagroup.com/57-marina/3-ways-to-make-your-money-work-for-you/">3 WAYS TO MAKE YOUR MONEY WORK FOR YOU</a> appeared first on <a href="https://www.ubagroup.com/57-marina">UBA Lion King Blog</a>.</p>
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