Navigating the world of finance can feel like playing a complex video game. You’re bombarded with information as new challenges emerge every day. Sometimes you may feel overwhelmed watching your hard-earned cash slipping through your fingers.
Cheer up, I have some good news! FirstBank’s got you covered. Like the ever-constant DIY hacks on social media, we have collated some trending financial hacks to help you level up your money game.
Hack #1: Automate Your Finances Like a Boss
Who needs a sidekick when you can automate your savings and bill payments? Our FirstMobile App has been enhanced with more interesting features that allow you to automate recurring transfers, so that you can plan better and stay on budget per time. The beautiful thing is that you can optout anytime so there’s nothing to worry about. No more scrambling to remember due dates and sourcing for ‘urgent 2k’ to meet the sudden and pesky bills.
Hack #2: The No-Spend Challenge
Feeling like your wallet has been raided? A No-Spend Challenge can help keep cash gobblers at bay. Pick a weekend (or a whole week, if you’re feeling adventurous), and commit to avoid impulsive and unnecessary spending. Stock up on groceries beforehand, get creative with free entertainment, like parks, libraries, or game nights, and rediscover the joys of frugality. You will be surprised at how much you can save, and how much fun you can have without blowing your budget.
Hack #3: The 52 – Week Savings Throw-down
Want to watch your savings account transform from weakness to strength? The 52-Week Savings Throw-down is your ultimate option. This hack involves setting aside a specific amount of money each week, increasing the amount by a few Naira or more every other week, if you’re feeling ambitious. You can take it up a notch by automating the process on FirstMobile App. You will marvel at the outcome by week 52, the feeling is synonymous to when someone sends you free cool cash.
Hack #4: Respect your loan plans
For many, taking out a personal loan is essential – you may need a new car, car repairs or have other major expenses that you need help paying for. Personal loans, if managed responsibly and judiciously, can be a valuable financial hack.
They may have lower interest rates than credit cards and have a repayment schedule, which means your debt comes with an end date. At FirstBank, we have different loan options for both salary earners and business owners designed specifically to come through when you need them most. Visit our website https://www.firstbanknigeria.com/personal/loans/ to discover the loan option best suited to you.
Please note that it is very important to have a structure that helps you to manage your loans to avoid drowning in debt and more importantly, ensuring that you spend the loan for the intended purposes.
Remember, your financial journey and goals don’t have to be so overwhelming and tasking. FirstBank offers a variety of tools and resources to help you achieve your financial goals. Our friendly financial experts are always there to answer your questions and guide you on your journey. Visit any of our branches today for “financial consultation.”
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References
https://www.nerdwallet.com/article/finance/smart-money-podcast-no-spend-month-2-0-and-recovering-from-credit-damage?trk_location=ssrp&trk_query=The%2520No-Spend%2520Weekend%2520Warrior%2520Challenge&trk_page=1&trk_position=2
https://www.latitudefinancial.com.au/life-done-better/15-money-management-hacks.html
