I’m super sure you want a better finance position than Year 2019. The rave for Year 2020 should not be an empty one. Make it really worthwhile by having a productive plus year, even in your finances.??

To have a productive plus year in your finances, you need a plan ?to make it happen. Success do not happen by chance; and the moment you create a plan, it’s like the entire universe? starts working in your favour. I compiled below major checklists that should be ticked to ensure a Productivity Plus Financial Year in finances. There’s no better way to start your year in your finances.

Ensure that your mind is prepared. Clear out disappointments ❌from the previous years and start your envisioning on a new slate✅. Likewise, double check your motives for making money this year. Money shouldn’t be acquired as a remedy to low self-esteem, fear, competition and other behavioural issues because the truth is money will not cure these issues.

Your Net Worth. Your net worth is your wealth ??and your financial value at any given time.

Your Net Worth is the difference between your assets (what you own e.g.
Investments, Savings, Market value of house, Emergency fund, Pension Fund) and liabilities (what you owe e.g. debts, expenses due).

The first step is to calculate your net worth ?at the beginning of the year using the definition above. Next, set a target net worth for the end of the year and set out plans of achieving this target. Thirdly, review your net worth periodically to ensure you are still in track and lastly, compare your end-year net worth with your target.

Your Emergency Fund. An emergency fund is a readily accessible source of assets (cash and other liquid assets) set aside to cover unexpected financial dilemmas. It serves as safety net when unexpected financial obligations arise?‍♀. It should cover at least three to six months of your basic expenses. This is not the same thing as your savings account where you save towards a purchase or spending. If you do not have an emergency fund now, build one within the next few months, take it gradually so it doesn’t become overwhelming. Likewise, commit a percentage of your windfalls to continually build your emergency fund.

Your emergency funds should only address emergencies.

Budget- You cannot rule this out. To fully utilize your income, draw a budget ?and stick to it. A budget guides you in how you spend your money. An advice I’ll give is “ensure you take out an allocation for investment when apportioning your income in a budget”.

Build your wealth. You build your wealth by investment?.Here in Nigeria, you can start investing with as low as N5,000. Utilize your money today by investing. For guidance, visit Wealth.ng (or follow wealth_ng) on Instagram for good stock recommendations in Nigeria or contact any asset management firm to know more of their investment products.

Invest in Yourself.?‍♂?‍♀ Take that course; attend that seminar, read book; sharpen your skills. Investing in yourself increases your earning potentials.

Give. To get the most of your income, utilize the principle of giving and you’ll see it coming back to you. It’s a rule!

Celebrate your wins.??This gives you motivation to do more. Likewise, pamper yourself (take good care of yourself and provide an allocation for this).

Lastly, live a debt free life. Live your size per time??. Create a debt repayment plan if you are already in debts.

We believe in you!

To your financial independence and freedom.

My Productivity Plus Plan 2020

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