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Nigerian finance expert Oluwatosin Olaseinde shares tips on how you can stick to your budget

Oluwatosin Olaseinde is the brain behind The Money Africa (onyixtus)
  • Oluwatosin Olaseinde is one of Nigeria’s most well-known Personal Finance experts with 10 years of experience in the field.
  • Acknowledging how difficult it can be to stick to one’s budget, she has taken to share her tried and tested tips.
  • Below are her four tips for creating a budget you can follow.

Most people can relate to the annoying cycle of creating a budget you never seem to follow.

Thanks to some great advice from Oluwatosin Olaseinde, a top Nigerian personal finance expert with 10 years of experience in the field, you no longer have to deal with this problem.

The founder of the personal-finance platform, Money Africa, has compiled a list of four great ways to help you create a budget you can finally stick to.

Here they are:

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  • Set SMART goals

SMART stands for Simple, Measurable, Achievable, Realistic and Time-bound. This Olaseinde’s guideline for creating a budget.

For instance, she recommends saving 10 per cent of your salary every month. This goal is definitely simple, measurable, achievable, realistic and time-bound.

  • Only set realistic budgets
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Here, she re-emphasises the importance of creating realistic budgets that you can follow.

In her words, “if you have a budget of N100,000 when our income is N70,000, you will end up borrowing.”

  • Learn to track your spending

Olaseinde writes, “tracking your daily expenditure enables you to make adjustments if you go off track.”

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  • Reward yourself

Acknowledging how challenging sticking to a budget can be, the financial expert says “Sometimes, budgeting can be such a chore.”

This is why she recommends “having a reward in view” which “can make it easier for you to work towards achieving your financial goals.”

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This particular tip definitely increases your chances of finally sticking to your budget. Don't you agree?

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