Welcome to the continuation of our series. I will start right away.
Save 50% of every raise you get
That is true and a good way to grow your wealth gradually. If for instance you earn N70, 000;00 p/m and you save N30, 000:00 and spend the balance every month you would be accustomed to a lifestyle of N40, 000;00. your company then decides to give you a salary raise of N30, 000.
What do you do with the extra Cash?
You add a minimum of N15, 000;00 to your saving to raise it you N45, 000;00 and then add the balance to your spending money.
Remember you need a plan on how to invest whatever saving you are putting away.
Good luck.
Till next time
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