Don't take a loan

Don't ever borrow alone to start a new business that you totally know nothing about, the first thing is that intrest keeps accuring and this may leads to bankruptcy. the best is to borrow without intrest or with low intrest.

Don't spend money before you receive it

Some people are somewhat funny and they tend to spend money someone promised them without no obligation, it's so pathetic to do that, I assume if the person has something more important to do with money how do you go about it ? You become to promise your creditor , because someone fail to deliver his promise.

Saving mentality

Oh some people say I don't receive much money, my income is so small I have so much to cover and when big things happens, they are blown away. The best saving attitude is to start saving before you spend , human want is very insatiable and no matter the amount someone has he can't have everything. All the needs can't be met. If you want to save, whenever you receive money, don’t start spending hoping to save what let that's bad, also don't save to spend . Save to invest in business or invest that would bring good Return On Investment, this is making money work for you than rather work for money.

Learn to fish, don't ask for fish

At some positive or food time we meet with people of high calibre and standard, wealthy or rich people and successful business man . The best is to learn how they do things , ask for ideas , tell them your ideas . Ask for recommendations on business, books and area. They may even choose to give you money on their own accord that supreme .

Investment

If you have a egg you can choose to eat it or make it hatch to become chicken. It better to have investment for the future than to eat today, you can choose to kill a hen eat it and be fill for a day or two, but when you allow it to hatch eggs you can sell it to eat or allow it to hatch and make more earn.

Giving out what you can loose

Don't borrow anyone your money you can't afford to lose, friends family or spouse know the area of money is very different to every financial status. Don't be too emotional to give someone money in haste except in unpleasant and real situation, but don't trust people too much with your fund.

Guarantor

Always be sage in append your signature to guarantee someone on a financial matter if you don't know the context and can't afford the loss if any thing happens. if you are not willing or able to pay the money on their behalf. Always be careful at this aspect has many people has been bankruptcy just by guarantee some people make sure you know the individual very well .

Don't keep much money with you

Always avoid going around with too much money that wouldn't be useful, use your daily plans with to know what you want and work with that going about with too much money, may bring useless spending which would bring about wastefulness. If we are not careful when one has too much cash available one would do impulse buying and one would buy something useless or not even useful at all.

keeping money in inappropriate places

Keeping money in inappropriate places is something so bad, and this could make one to forget some or expose them to those that would rip it is us, yes don't keep lose fund just lying around find on good and better place to put them.

Only buy your needs

Buy things that can only be useful to you, buying other things that are useful is another thing, but buying things that can only be of immediate needs is the best to do. Always make a scale of preference and their importance. If you think or check your preference and you see that you can do fine without them ditch the item .

Alternative forgone  

Yes you can minimise your spending by looking for the alternative of the thing if they could perform both function except these would be like a return on investment or would bring more money. In actual sense spend less or find the direct alternative to things that does not have economic importance, only if they would aid your business or make you produce goods faster. If you can buy a item from a luxury store at 3k and he local market have the same goods, quality at the same 1k, the best is to buy from the local store.

Other streams of income

Always have a side or second job as one job is not only adviceable on this present economy. Having two or multiple stream it good .

Have something selling

Producers are king as well as seller we can all sell a things or the other, the concept that every one can't start a business is a lie, you can sell bread , I sell tea, another sell butter, another drinks, then we all patronize each other.

I sincerely hope you had a nice learning up there ? , Your thoughts, comments and view are welcome in the comment box.