“Keeping the resolution to stop being broke”

Crossing into the new year, many people become tuned to past failures and the desire for turn around in the coming year. Olawole Olakunle, 24, a Correspondent from Lagos in Nigeria, has some observations on avoiding common financial pitfalls.

Many make a last minute prayer that they hope will transform the new year into a failure free, poverty free and success filled new year. But perhaps we need to look at the reasons that one might remain broke in 2018, irrespective of beautifully-designed new year’s resolutions.

If there is anything I have learnt in 2017, it is that no task is unachievable, and that the prospect of your success is a reflection of good and consistent planning. It is not rocket science that one who lives life as it comes, without concrete planning and consistent strategy readjustment in tune with the realities on ground, might still remain broke this new year. Therefore it wouldn’t be a bad idea if you kick start this year with something concrete, and not some unrealistic new year’s resolution.

Another lesson is that nothing kills faster than procrastination! The sound of this advice, given to me some years back, still ricochets in my head. I believe it also would serve as my guiding tool in the course of working through the inevitable hurdles that will arise in 2018. The beauty of an idea is not in its loftiness, but in the reality of the execution. Unfortunately a host of ideas have been buried over the years with the strong arm of procrastination.

Sometimes, your architectural instinct becomes the mood when you design the plan, yet when the “I will do it later” urge creeps in, it destroys every iota of the plan you had. Procrastination breeds laziness and impedes you on your ladder to success. It can only be cured by “doing it now!” Learn to act now and do the complicated analysis later, for it is worthy of note that there is no wealthy procrastinator.

Subsequently, I think you should also note that s/he who is in control of his or her time time is in control of his or her life. A lot of young people find it very difficult to manage their time efficiently. The lack of good time management skill is a factor that keeps one in the “very broke” zone, while managing your 24 hours effectively opens a lot of opportunities that will astonish you by the success achievable with the same time you wasted on irrelevance in time past. Manage your time wisely and efficiently and you will definitely leap beyond the “broke zone” in 2018.

The urge to buy everything at our disposal is a huge one – to the point that it appears that human want is insatiable.  The desire to buy more to satisfy our want is a contributing factor to our staying broke, and it can only be crushed by staying true to spending on what is needed rather than what you want. The ability to differentiate between want and need is the gateway to responsible saving. Show me a person who saves frequently, and I will show you a person who will rarely go broke.

I have heard the popular saying that hard work is the antidote to poverty, but permit me to add that smart work is the  antidote to financial impediment  It is my deepest wish that anyone who wishes to snap out of the “I am broke” zone achieves that feat in this new year.

Happy new year!

Reach me on Twitter @mko_olawole
photo credit: kndynt2099 IMG_8776 via photopin (license)
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About me: I am a writer and advocate for youth participation in politics. My passion for qualitative governance led me to join the Student Union Government, where I served as secretary of committee on ethics and privilege. I am also a volunteer and a member of the Young Active Network of VSO, Voluntary service overseas.

I am currently  the National Director of Student and Campus Micro-group for KOWA Party Nigeria, a political party with a youth in politics mandate.
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Opinions expressed in this article are those of the author and do not necessarily represent the views of the Commonwealth Youth Programme. Articles are published in a spirit of dialogue, respect and understanding. If you disagree, why not submit a response?
To learn more about becoming a Commonwealth Correspondent please visit: http://www.yourcommonwealth.org/submit-articles/

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