In the news: Equities Market Begins 2018 on Bullish Note

In the news: Equities Market Begins 2018 on Bullish Note

Punch

Nigerian banks stop ATM cash withdrawal abroad

A number of Deposit Money Banks in the country have barred their customers from using debit and credit cards to withdraw dollars, euros, pounds and other foreign currencies whenever they travel abroad.

Fuel scarcity: Senate invites PPPRA, Customs, NPA, others

The Senate has extended its investigation into the lingering scarcity of Premium Motor Spirit (also known as petrol) to more Federal Government agencies and parastatals.

14 power plants shut, hydro generation improves

Electricity generation from the nation’s hydropower plants has recorded significant improvement, offsetting the losses caused by last week’s pipeline fire that left six gas-fired power plants, including Egbin in Lagos, shut down.

Bank loans, collateral to rise in Q1 –CBN

Companies of all sizes will demand more loans during the first quarter of 2018 and commercial banks have indicated plans to demand more collateral, the Central Bank of Nigeria Credit Conditions Survey Report has revealed.

New minimum wage ready this year, says Ngige

The Minister of Labour and Employment, Dr. Chris Ngige, has said President Muhammadu Buhari is desirous to give Nigerian workers an enhanced pay package this year.

This Day

Paucity of Funds Hits Nigeria Customs Service over National Assembly Face-off

Following the face-off with the National Assembly leading to the refusal to pass the budget of the Nigeria Customs Service (NCS), the service faced huge financial challenge in 2017 and may continue in 2018.

Equities Market  Begins 2018 on Bullish Note

The Nigerian equities market commenced 2018 on bullish note last week as the Nigerian Stock Exchange (NSE) All-Share Index appreciated by 1.76 per cent to close at 38,916.85.

Nigeria’s Corporate Eurobonds Sustain Positive Sentiment

Following a largely positive 2017 for Nigerian corporates, sentiments on the corporate Eurobonds remained strong in the first trading week of the year.

Investors Expect N189 Billion from Bonds Maturing in 2018

No fewer than 11 bond instruments with tenors ranging between five and 10 years are due for maturity in 2018.

The Nation

NSE begins direct flow of information to stock market

The Nigerian Stock Exchange (NSE) has launched the auto-flow mechanism in its trading engine. This allows companies to send their corporate earnings’ reports and other information directly to the trading engine on a real time basis.

Flour Mills to open application for N39.9b rights issue

Flour Mills of Nigeria Plc has rounded off pre-offer processes and signed off documentation for its N39.9 billion rights issue, setting the stage for the opening of the application list for the new capital raising.

Morison Industries closes application for N502.2m rights issue

Morison Industries Plc at the weekend closed the application list for its rights issue.

Guardian

Forex liquidity exceeds $42b

Nigeria may be sitting atop foreign exchange (forex) stockpile in excess of $42 billion from reserves’ accretion and the expected full inflow of the $3 billion Eurobond, which may have materialized.

Vanguard

Stock Market: 14 companies raise N340bn in Rights Issue boom —Lafarge Africa,Unilever, 3 others lead with 94%

Prompted by increased investor confidence in the Nigerian economy, especially in the stock market, positive economic growth outlook, fourteen companies quoted on the Nigerian Stock Exchange, NSE raised N340.6 billion via Rights Issues in 2017.

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Source: Articles

How to take your New Year goals beyond January

How to take your New Year goals beyond January

Beginnings are beautiful. Everyone loves the exhilarating feeling that comes with starting. The dawn of something new seems to awaken fresh hope in our hearts, propelling us to dare to dream. We make plans, new resolves, set goals, envision possibilities…For a few golden days or even weeks, there is a spring to our step, a purpose to our every action, we believe anything is possible. Until time proves us wrong and months pile, leaving our dreams stranded in imagination lane, our hopes depleted, and our drive gone. We trudge through the year, looking forward to a brighter day, praying for a miracle or just accepting fate.

Popular statistics reveal that only 8% of New Year resolutions made in January make it to March. But it doesn’t have to be that way. You can transcend from Dreams Ville to Action Lane. You can back up your aspirations with steps. The goals you set in January can become realities in June. You can look back in December with even more than you anticipated. It depends on you. How? Here are just three things you need to do.

  1. Don’t just wish, set goals

What is the difference between a wish and a goal? Goals are calculated projections, feasible, achievable and time bound aspirations while wishes are just desires. Goals are within your reach, you can work towards making them happen, wishes on the other hand happen upon you, if they happen at all. Stop wishing, start setting goals.

  1. Break it down

It is important that you break that overarching goal into smaller units. Identify what your overall goal is, then break it down into smaller goals that lead to the ultimate result. If for instance your goal for 2018 is to travel abroad for Christmas, start by determining how much you will need to make that trip in December (Overarching goal -raise 2 million Naira for vacation). Take it further by calculating how much you will need to put aside every month to accumulate that amount (Monthly goal- invest 100,000 every month). Next you need to ascertain what lifestyle changes are necessary to enable you put aside that amount every month (Weekly goal- reduce Friday night hangout to last Fridays of the month alone).  You can attack your weight loss goal, networking goal or whatever goal with the same model.

  1. Take action

Don’t just determine to eat less or save more or spend less time on social media, put things in place that will propel you to do it. You might need to get an accountability partner to monitor your social media addiction, set up a direct debit mandate to ensure you put funds aside for investment consistently, download an app to monitor your expenses, register at a gym, create a meal plan, purge your house of everything unhealthy- do whatever needs to be done.

Let this be the year you actively pursue your goals. Every day, go to bed with the satisfaction that you are one step closer to realising your ambitions.

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Source: Articles

In the news: SEC stops issuance of dividend paper warrants

In the news: SEC stops issuance of dividend paper warrants

Punch

Nigeria’s monthly oil export to US rises by 56%

The export of Nigerian crude oil to the United States rose by 56 per cent to 13.67 million barrels in October last year, the highest level since February 2013.

SEC stops issuance of dividend paper warrants

The Securities and Exchange Commission on Tuesday directed all registrars to stop the issuance of dividend paper warrants.

FG rakes in N7.3bn from savings bond

The Federal Government raised a total of N7.3bn from the FGN Savings Bond in 2017, the Debt Management Office data showed on Tuesday.

Tin Can records 150% increase in agro exports

A total of 161,285.72 metric tonnes of agricultural products were exported through Tin Can Island Port in 2017, representing over 150 per cent increase from the 55,000 metric tonnes processed through the port in 2016.

Guardian

Nigeria’s Bonny Light crude oil hits $67.10 a barrel

The price of Nigeria’s Bonny Light crude oil reached $67.10 per barrel to emerge the highest priced product among members of Organisation of the Petroleum Exporting Countries (OPEC).

Shettima presents N170.3billion budget for 2018

Governor Kashim Shettima of Borno State has presented a N170.3billion budget to the State House of Assembly (BOSHA), for appropriation for the 2018 fiscal year.

Kachikwu, oil marketers meet today on fuel importation

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and petroleum marketers will today hold a crucial meeting at the headquarters of the Nigerian National Petroleum Corporation (NNPC) in Abuja to consider the re-involvement of private sector operators in the importation of petroleum products.

ThisDay

10 Banks Facilitate N93trn Investment in Fixed Income Securities, Currency

Stanbic IBTC Bank Plc, Access Bank Plc, Ecobank Nigeria Limited led the top 10 banks that facilitated investment in fixed securities and currency valued at N93.36 trillion on the FMDQ OTC Securities Exchange between January and November 2017.

SEC Gives Multiple Subscriptions Investors March 31 Deadline to Consolidate Shareholding

The Securities and Exchange Commission (SEC) has said investors who bought shares of the same company using different names during public offers have an extended deadline of March 31, 2018, to consolidate their multiple subscriptions into a single account and equally regularize their shareholding.

Vanguard

Stock market off to strong start, gains N8bn

The stock market started off the year on a relatively strong note yesterday as investors recorded N8 billion gains on their investment.

2018 budget padding allegation: FG entitled to its opinion –Senate

The Senate,   yesterday, said the executive arm of government was entitled to its opinion for describing allegations by the National Assembly that the 2018 Appropriation Bill had been padded as spurious and mischievous.

The Nation

FMDQ records N130.17t turnover in 11 months

FMDQ OTC Securities Ex change recorded a turnover of N130.17 trillion in the first 11 months of 2017, according to provisional data provided by the over-the-counter platform for debt securities.

CBN’s N161.5b primary market auction opens

The Central Bank of Nigeria (CBN) will today, recommence the Primary Market Auction (PMA) for the year.

 

 

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Source: Articles

What happened in 2017?

What happened in 2017?

A lot!

You let us into your world and allowed us to have beautiful conversations with you. We talked about your salary and asked Shade a few questions. You stayed with us as Kola begged his daughter to call him daddy and didn’t think his pleas were too little to count. Thanks for advising Bade when he erroneously assumed that a ring is a ring. You went on Abu’s journey with us and trusted us even when Mrs Gregory insisted we should not ask her to trust her husband.

When your landlord kept asking you ‘What’s today’s date?’, you sighed and told us you were tired of his drama, not again you said, not this month. We showed you how to fire your landlord and you realised getting your own place was a rewarding investment. Clem complained to you that there is something wrong with his wife and you advised him because it’s all in the mind. When you had the money talk with your child, you told us and we had a few tips for your nephew who just rounded up NYSC. He was thinking of starting up his own business instead of becoming a job hunter and we told him how to turn his seed into a tree.

Even when your Harvard graduate decided to become a DJ, you listened to us  and gave him quality advice on personal finance.  No doubt, we have had a beautiful year together. We hope you let down your hair this Christmas and have started considering making these 6 changes in 2018.

As you prepare for next year, do not be boxed by money myths, do a review of your finances to discover how much you are losing or gaining and consider drawing up a budget for the year. Perhaps these 4 reasons will encourage you to get covered because it’s the perfect time to consider estate planning even if you are established and unmarried. 2018 could be the year you start your post retirement business, it could be the year your dreams come true.

Whatever you decide to do in 2018, be assured that we are with you, providing you with the relevant information you require to realise your ambitions.

Our first advice for the year? Start early, everything counts, even the little drops.

 

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Source: Articles

How to save more in 2018

How to save more in 2018

Do you have millions of naira or even dollars sitting pretty and waiting for you to spend as you like? If your answer is no, then that word ‘Budgeting’ may be your ticket to saving more in the New Year.

Why? Because when you budget wisely especially with 2018 in view, you will not only be able to account for all your money, but you may also be able to save towards a pressing goal or just towards your future.

Now, don’t consider this a damper on all the fun you plan to have with your hard-earned money, instead look at it as a deliberate plan that helps you live within your means yet plan towards the life you dream of.

But enough of all the talk, let’s get down to practical ways you can create and maintain your budget every month in 2018:

How much do you make monthly?

First, you need to have a constant inflow of income. Before you draw up a budget, calculate how much you take home. It doesn’t matter if you work a 9-5 and rely only on your salary or you are an entrepreneur with money ‘falling’ on you from many sources, calculate how much you earn. When you know this, you can tell yourself the truth about what you can afford, what you must save and what will make you owe ‘gbese’ if you dare to go for it.

Know what you are spending on

Secondly, list those things you definitely have to take care of like – rent, school fees, insurance, house-keeping/feeding, utilities, fuel etc. Now that you have that out of the way, where does the rest of your money go?

Do you spend a lot on shopping, hanging out with friends, recharging for premium bouquet on DSTV (when you really can make do with the compact plus bouquet) buying more human hair or even buying asoebi for weddings? Take note of that. Check your spending history to know your different categories of spending.

Set a fixed percentage for all you plan to spend on

Now you’ve made your list and figured out where all your money goes on a regular basis. What you need to do next is minus the ‘needs’ we mentioned earlier from your monthly income. Then divide what remains amongst all the other things you plan to spend on. Whether you plan to invest, save or pamper yourself, decide how the remaining money you have will service these needs/wants.

This way, your priorities are managed, savings intact and your money put to work.

Embrace technology

Once you establish a solid spending plan, use the awesomeness of technology to send your money to the right places before you even see it.  For instance, you can set up a direct debit for your savings or even investment so that each month when payday comes, a fixed amount of money is transferred there. This will help you relax and save or invest without putting in the back-breaking manual work or even forgetting.

Bottom-line: Budgeting is about owning your income and being intentional about how you spend it. Yes, many ‘wants’ often masqueraded as ‘needs’ will surface to sap your money, but when you forget the temptation of now and spend only what you must, let go of what you can and save/invest what you’ll need tomorrow, you can have a comfortable life you can be proud of.

If a little sacrifice today can mean living debt-free with a constant flow of income and some good savings, isn’t it worth it?

 

Interested in starting a savings plan? Send us an email at [email protected] or call 0700 CALL ARM for further assistance.

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Source: Articles

In the news: Equities Market Opens Week Bearish

In the news: Equities Market Opens Week Bearish

Punch

Oando: Groups vow to resist attempt to frustrate audit

Shareholder groups under the aegis of the Trusted Shareholders Association of Nigeria and the Oando Shareholders Solidarity Group have vowed to resist any attempt to frustrate the forensic audit of Oando Plc’s financials as ordered by the Securities and Exchange Commission.

Foreign debt servicing gulped $197.29m in Q3 – DMO

Nigeria spent a total of $197.29m to service foreign debts in the third quarter of this year, the Debt Management Office said on Wednesday.

NEPZA licenses three new FTZs

The Managing Director, Nigeria Export Processing Zones Authority, Mr. Emmanuel Jime, says the agency has licensed three new Free Trade Zones.

No petrol in our depots despite NNPC’s promises – DAPPMA

As fuel queues grew shorter at some filling stations in Lagos on Tuesday, oil marketers under the aegis of the Depot and Petroleum Products Marketers Association said they did not have Premium Motor Spirit in their tanks.

JP Morgan fined $2.8m for improper safeguarding of Nigerian securities

JP Morgan Chase & Co, which has presence in Nigeria, has paid $2.8m fine to the United States regulator to settle charges that its broker-dealer unit lacked sufficient controls to safeguard customer securities from several countries including Nigeria over more than eight years.

This Day

CBN Extends Settlement Banking Arrangement

The Central Bank of Nigeria (CBN) has postponed until further notice it earlier directive for banks to adhere to settlement banking arrangement for all clearing sessions.

Equities Market Opens Week Bearish on Continuing Sell Pressure

The Nigerian equities market commenced the week on negative note on Wednesday as investors continued to sell to meet cash needs in this festive period.

Crude Oil Price Hits May 2015 High at $67 per barrel

Oil price on Wednesday hit $67 per barrel for the first time since May 2015, before dropping to $66.27 despite the supply disruptions in Libya and the North Sea.

Vanguard

NSE to introduce guidelines on derivatives trading

The Nigerian Stock Exchange, NSE, said it would soon introduce guidelines for creation, listing and trading of derivative products on its platform.

Business Day

9mobile: Banks postpone December 31 handover

The December 31, 2017 deadline for the handover of 9mobile, Nigeria’s fourth largest telecommunications service provider to one of the five potential investors has been postponed to January 2018.

Kachikwu accuses companies in crude-for-product deal of profiteering

Ibe Kachikwu, Nigeria’s minister of state for Petroleum Resources has said Nigeria would review the list of companies allowed to participate in the Direct Sale of Crude Oil and Direct Purchase of Products (DSDP) programme on suspicion of profiteering and lack of capacity as fuel queues resurfaced to mar the Christmas holidays.

 

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Source: Articles

In the news: SEC to Strengthen Monitoring of Bond Proceeds Usage

In the news: SEC to Strengthen Monitoring of Bond Proceeds Usage

This Day

MPC May Not Meet Due to Lack of Quorum

Following the refusal of the Senate to consider President Muhammadu Buhari’s nominees for the vacant positions in the Monetary Policy Committee (MPC), its first meeting for 2018, scheduled for the third week of January, might not hold due to lack of quorum.

NCC Plans Unused Data Roll over to 14 Days

Following complaints, the Nigerian Communications Commission (NCC) is to extend the grace period of unused data roll over to 14 days.

SEC Moves to Strengthen Monitoring of Bond Proceeds Usage

There are strong indications that the Securities and Exchange Commission (SEC) will introduce a new strategy for reporting of the usage of proceeds of bonds raised from the nation’s capital market.

The Nation

Dangote seeks passage of agric input supply bill

The  President, Nigeria Agribusiness Group (NABG), Alhaji Sani Dangote, has  called for the passage of the Seed Bill to deal sternly with the supply of spurious seeds and fertiliser that are causing havoc to the fortunes of  farmers in the state.

Caution as fuel queues reduce in Lagos, Ibadan

Fuel marketers raised the alarm yesterday – depots are empty. The Nigerian National Petroleum Corporation (NNPC) has promised to flood depots with petrol but the Depot and Petroleum Products Marketers Association (DAPPMA) said the corporation was yet to send petrol to its members’ depots.

Vanguard

Nigeria spends N157bn on vehicles, aircraft parts, vessels importation

Nigeria spent a total of N157 billion on the importation of vehicles, aircrafts parts and vessels in the third quarter of 2017.

Guardian

Globacom positions as Nigeria’s largest telecoms operator

Nigeria’s $70 billion telecommunications industry is set to witness a major acquisition on or before December 31.

 

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Source: Articles

In the news: Naira further depreciates to N361.91

In the news: Naira further depreciates to N361.91

Punch

NNPC plans 4,600MW power plants for Abuja, Kaduna, Kano

The Nigerian National Petroleum Corporation on Wednesday announced that it would build power generating plants with combined capacity for 4,600 megawatts in Abuja, Kaduna and Kano states.

Stocks end two-day losses, gain N54bn

The Nigerian Stock Exchange reversed a two-day decline at the close of trade on Wednesday after the NSE market capitalisation appreciated by N54bn.

Dispute: BUA welcomes Dangote’s decision on judicial process

BUA International Limited has welcomed the decision of the Dangote Group to await the completion of the judicial process in the ongoing dispute by both parties over limestone mining sites.

$1.3bn Malabu scam: Shell, Eni to face trial in Italy

Royal Dutch Shell Plc and Italian oil major, Eni, would face trial in Italy over a $1.1bn bribery scandal in Nigeria, an Italian judge ruled on Wednesday.

This Day

DMO Lists $300m Diaspora Bank, $3bn Eurobonds on NSE, FMDQ OTC

The Debt Management Office (DMO) wednesday announced that it will list the $300 million Diaspora Bond and $3 billion Eurobonds on the Nigerian Stock Exchange and Financial Market Dealers Quotation Over-the-Counter (FMDQ OTC) Securities Exchange respectively today.

Nigerian Equities Market Rebounds on Bargain Hunting

Nigerian equities market witnessed a rebound Wednesday after two days of bearish as the Nigerian Stock Exchange (NSE) All-Share Index appreciated by 0.40 per cent to close at 37,933.86.

The Nation

Reps to probe CBN over non-remittance of $5billion

The House of Representatives is to investigate the Central Bank of Nigeria (CBN) for alleged under remittance of over $5billion to the Federation Account.

Vanguard

Naira further depreciates to N361.91 as volume drops by 86%

The naira Wednesday suffered yet another biggest daily depreciation in the Investors and Exporters (I&E) Window as it depreciated by 66 kobo to N361.91 per dollar, triggered by an 86 percent decrease in dollar supply.

Reuters

Eni, Shell reject corruption charges in Nigeria case

Eni says  company, CEO acted correctly in opl-245 Nigeria concession deal.

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Source: Articles

In the news: Average T-bills yield closes at 14.57%

In the news: Average T-bills yield closes at 14.57%

Punch

Dangote Cement, Dangote Sugar, Ecobank top equity losers’ chart

The Nigerian stock market continued in losses on Tuesday after Dangote Cement Plc, Dangote Sugar Refinery Plc and Ecobank Transnational Incorporated Plc recorded major losses in their share prices.

Average T-bills yield closes higher at 14.57%

The secondary market for Treasury bills was bearish for the second successive day of trading this week as the average yield closed higher at 14.57 per cent, gaining 1.13 per cent.

NCC, CBN seek to curb financial frauds

The Nigerian Communications Commission and the Central Bank of Nigeria are to sign a Memorandum of Understanding to curb the use of telecommunications networks to defraud bank customers.

FBN Holdings renames merchant banking, asset management businesses

FBN Holdings Plc has announced the renaming of all entities under its merchant banking and asset management group.

Lafarge disagrees with workers over expatriate dominance

The management of Lafarge Africa Plc has disagreed with some of the workers over the alleged dominance of expatriates in the Mfamosing plant of the cement manufacturer in Cross River State.

This Day

IMF: Fed Tightening May Squeeze Portfolio Flows to Nigeria, Others

A key question facing global investors today is what impact the US Federal Reserve’s monetary policy normalisation process will have on capital flows to emerging markets and other economies such as Nigeria that had enjoyed huge flows in recent times, a report by the International Monetary Fund (IMF) has stated.

Transactions on FMDQ OTC Exchange Rise to N130tn in 11 Months

Transactions in the fixed income and currency markets rose by 21.9 per cent to hit N14.85 trillion in November from N12.18 trillion in October.

Militancy, Political Uncertainty Seen as Key Risks for Nigeria, Others

Following Nigeria’s exit from recession in 2017, investor sentiment across West Africa is likely to experience uplift in 2018, a report has stated.

Oando Shareholders Insist on Forensic Audit

Shareholders under the aegis of the Oando Shareholders Solidarity Group (OSSG) have picked holes in recent claims by the management of the company that it dragged the Securities and Exchange Commission (SEC) to court to protect shareholders’ interest.

Punch

NSE adds Sterling Bank, Skye Bank, others to most influential stocks’ groups

THE Nigerian Stock Exchange (NSE) is expected to move  Sterling Bank Plc, Diamond Bank and three other stocks to the top index of 30 most capitalised stocks  in the forthcoming review of the stock market’s indices.

Senate panel seeks liquidation of NNPC

The Senate committee on Finance yesterday recommended the liquidation of state-run oil firm, the Nigeria National Petroleum Corporation (NNPC) over huge funds unaccounted for.

PFAs pay N4b to 12,464 disengaged workers from pension contributions

A bout N4billion were disbursed to 12,464 workers, who lost their jobs across the country, from their pensions contributions in the third quarter of 2016. The money was paid to them by their various Pension Fund Administrators (PFAs).

Reuters

Benin withdraws telecoms licence for Globacom unit in renewal dispute

Benin’s telecommunications regulator has withdrawn the operating licence of Nigerian mobile telecoms company Globacom’s local unit in a dispute over new terms, according to a document seen on Tuesday.

Bloomberg

Nigeria’s Buhari Says He’ll Punish Corruption in Spy Agency

Nigerian President Muhammadu Buhari pledged to penalize officials involved in diverting more than $43 million cash belonging to the country’s spy agency to a private residence in the city of Lagos.

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Source: Articles

Personal Finance with Raphael- Adewale needs help!

Personal Finance with Raphael- Adewale needs help!

Adewale Richards a.k.a. Bobo, as fondly called by his friends works in a bank on Victoria Island. Like many other people who work on the Island, he lives on the mainland. Every working day, after work hours Adewale will typically hang out at a bar or restaurant around his work place till late in the night under the guise that he is waiting out the traffic on 3rd mainland bridge. While hanging out, sometimes with friends, he spends between N3,000 and N10,000 daily, regardless of his bank balance or budget. Adewale has no savings whatsoever because he can’t see any surplus from his current pay package. At the end of most months, he is usually unable to give an account of what he spent as little as N5,000 on.  Therefore, he lives with the myth that he will soon ‘hammer’ or get some miraculous multiple promotion after which he can begin to save and plan for his numerous financial goals.

How can we help Adewale out of this situation?

Planning for one’s financial independence is inevitable. It’s not an option at any life cycle stage but a “MUST”. Adewale needs to identify his financial status by analysing his cash flow, income, and expenses. He needs to work with the budgeting tool. This tool will enable him to identify how he spends his hard-earned money and save him from his myth state. A budget would help him to put his funds to good use. Reality is that if you want financial security, budget is the only answer.

Setting up A Budget

Setting up a budget is very simple and friendly. All you need to do is write down how you intend to spend your income and stick to it. You state the amount you want to spend on each item. It helps you turn your finances around and begin to build wealth.

Importance of having a Budget

  • A budget makes you identify your goals, keep track of your progress and make your dream a reality.
  • Setting up a budget enables you to monitor how every dime made is spent to the extent that you don’t spend money that you don’t have. Thus, reduces one’s debt exposure. This would also help one to keep track of every spending.
  • It helps you set up your emergency fund. Following the 50:30:20 rule; 50% of your income is spent on your budgeted fixed items, 30% on variable items and 20% on your savings. Should there be any unexpected event that calls for immediate spending you can look at items in your budget that can be reviewed or moved to the next month or period in order to cater for the emergency. Flexibility can be applied sometimes to your budget.
  • It helps you cut unnecessary spending. It saves you from wasteful spending and impulse buying.
  • It helps you prioritize your spending. You would spend money on the most important items.

The impact of a Budget on Adewale’s life style is that he would be able to identify the surplus in his current income level by making amends to his current expense and hanging out bills. Following the 50:30:20 rule would enable him have savings and finally he would be able to account for every dime that is earned…. And when he eventually “hammers”, with a budget he can efficiently manage the increase in income and build the sort of wealth that would provide him a financially secured future!

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Source: Articles