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Finance Security

Master Your Finances: Key Strategies for Saving and Spending in the New Year

We welcome a new month with joy, enthusiasm, and an inert resolve for positive change. Very often we head into every month with the desire to improve our finances and that leads us down the road of both fulfilled and unfulfilled financial resolutions.

But today, we will take a dive into some key strategies that can help you take control of your finances in 2024 and stay ahead with your money:

Set Clear Financial Goals

It is often said that if you fail to plan, you plan to fail. While that might be an old cliché saying, it doesn’t take away the fact that setting proper plans puts one in the driving seat for success. You can start by clearly defining actionable financial goals and prioritize those goals based on urgency and importance. Break them down into smaller goals that would be easy to manage and don’t forget to dedicate time to tackling one goal at a time to avoid feeling overwhelmed.

Create a Budget

After you set your goals, this is where the real planning begins. You’re going to want to create a budget that covers your goals. It’s easy to oversave or overspend when we don’t have constrictions in place and that is what budgets are for. It is important to list all sources of income whether it be salary or money from side businesses and all sources of expenses such as rent, groceries or other utilities. Allocate funds to these expenses and cut out on those expenses that are not necessary so the extra funds can be added to savings or higher priority demands.

Track your Spending.

Even after setting your financial goals and creating budgets, it is still inevitable that you may lose track of certain spending habits. That is where tracking your spending comes in. You can keep track of your spending by monitoring your purchases via budgeting apps. Create time to sit down and review your spending patterns so that you can allocate funds from unnecessary purchases to savings.

Invest Correctly

Money is like a seed, when planted, can reap a large harvest. That is why investing is key to your financial stability this year. There is a plethora of things one can invest in to ensure financial sustenance. Things such as real estate, stocks and bonds and other legal investing avenues are highly recommended. Place your money there and watch it grow for you!


A penny saved is a penny earned — George Herbert. The importance of savings cannot be overemphasized. Both savings for a rainy day or just savings towards one’s future is necessary for a future built on financial stability. Also considering the rise in dollar, it has become pertinent to save in USD. Kaoshi helps you securely exchange your naira for inflow US dollars, directly into your Nigerian domiciliary account, at your own rates.

It has become clear that with time, there should be a necessity to take control of our finances by setting clear financial goals, creating a budget, tracking our spending, investing correctly, and saving towards the future. Remember to break them down to actionable goals so you don’t become overwhelmed. This is your time to see results as you take positive steps towards your financial dreams.



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