TFL: What was your biggest money mistake in 2021 and how did you handle it?
A.D: My biggest money mistake started in Year 2020 when I took up a lot of debts. So, I had to use Year 2021 to pay back these debts. I also found myself always in need of funds every month after using most of my salary to pay back my debts. I was in the cycle of debts for a long time, and I was off-balance until I had to figure out a way to break the cycle. I focused on generating more income from my business and not incurring more debt.
TFL: What new money lesson did you learn in 2021?
A.D: My money lesson learnt is not to incur debts and to delay gratification. I’ll rather wait till I can afford something and pay with my money. I also learnt the power of saving; saving before I spend everything. I also learnt the power of record keeping. When I was detailed about record keeping, I was more intelligent in my spendings.
TFL: Did you have any major change in your finances in 2021 and how did you handle it?
I became a salary earner, and I learnt the value of working for your money and this made me very sensible in the way I spent my money, because I knew the work it cost to get the money.
A short, yet enlightening, read right?
To your financial independence and freedom!