Once that anticipated bank notification beeps on your phone, your head starts running wild. Your mind starts proposing all kinds of expenses: the electricity bills, new shoes from Instagram, Netflix subscription...and the list goes on.

If you had your way, that list would go on endless, but you know you have to take caution, if not you’d be broke before the week runs out.

Every success-driven person needs to understand that beyond making an income, it is important to intelligently manage personal finances.

Here are four secrets that will help you manage money better if you want to be financially successful:

Have a Solid Personal Spending Plan

Financial success starts with being disciplined about your expenditure. A person’s natural inclination is to want to add every shiny beautiful new thing to their possessions.

However, planning your finances allows you to properly allocate funds to your different needs.

Your expenditure plan should be based on a priority list. Also ensure that for each category of expenditure you have a separate account, card or wallet.

Personal finance habits of successful people
Personal finance habits of successful people

Track Your Spendings

Another equally important financial habit kept by successful people is monitoring expenses. This takes a lot of discipline, but there is no point in creating a personal budget if you have no intention to stay committed to it.

Tracking how you spend helps you caution your excesses, learn more about your spending behaviour, and ultimately stay within the limits of your spending plan.

You can easily track your weekly or monthly expenditure when you have a central platform for all your major financial transactions.

Plan For Financial Emergencies

Financial emergencies are not necessarily negative, but when they come, they have the potential to disrupt your financial expectations. These unexpected events may even come as huge opportunities which could be lost if you have no plan for such moments.

To avoid such frustrating occasions when you find yourself in financially helpless situations, always have an emergency fund. 

An emergency fund is usually saved up regularly over a period and kept aside for unexpected and critical expenditure. Your emergency fund should be easily accessible in case a last-minute intervention is needed to save the day.

Save Time With Smart Tools

Successful people know that their time is just as important as their money, so they adopt smart solutions that make daily tasks faster, seamless and less stressful.

Think about the many recurrent financial transactions you make in a week or a month. On a regular basis, you top up your electricity card, pay for an internet data plan, buy airtime, or send money to your dependents.

With Paylater, these transactions do not have to be a continuous burden.

Paylater is your one-stop for all financial transaction. Paylater is an easy-to-use mobile app that assists you with all your financial tasks. Your special Paylater wallet allows you deposit money for your regular transactional needs:

  1. AIRTIME: Top up airtime to any mobile network. You can save your most used phone numbers on the app for quicker transactions.
  2. BILLS: With over 1000 billers accessible to you on Paylater, you can pay for all your lifestyle services - whether internet data, cable subscriptions or electricity bills - right from the app.
  3. FUNDS TRANSFER: Whether you need to send money to a loved one, close a business deal or in occasion of a financial emergency, you can instantly transfer money to any Nigerian bank account or another Paylater user from your mobile app.

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