Steemit Engagement Challenge (SEC)| S12W1- "Finance and Me"

No one can dispute the fact that we all need money to continue living, yes it's important and can't be overstated, truly we need money to take care of our needs, and that of our loved ones. This is where finance comes in, because our wants are insatiable and even some literate lack financial literacy which makes life even harder, in this deteriorating economic system. Some people find it hard to manage their income, especially couples, and money mismanagement is one of the problems in our society so this topic will help us to solve these problems and know how we can manage and spent our money because there's a saying that "money get wings".

Each time I hear the word finance, what normally comes to my mind is money management. Finance in layman's terms is the study of money, in order to know how well to manage, save, invest, and make more profit with it.

Financial literacy is so important because money has a language and we can only learn this language through the study of finance, This subject is introduced into our secondary education curriculum so that everyone would be financially literate. There are three branches of finance: Public, Corporate and Personal Finance, Today I will write about my finances.

Nope, I don't have all I need, and this is because human want is insatiable for example I might wish to have $10,000 thinking that I will fill all my needs with it, but immediately I lay hold of it my responsibilities will also increase and I will need more, money doesn't satisfy want that why contentment is important.

The financial difficulties I'm having now are:

• Having a Starting-up capital
• Buying my car.
• Taking care of my aged parents the way I want.

Due to financial constraints I couldn't accomplish the above, but I'm hopeful that by next year I will be able to fulfil at least two of these 3 needs, number 1 and 3

I've learned to manage my finances and that of my family well, first I tried to avoid impulse buying, I make sure that we need something before I go for it. I've differentiated need and want, needs are the necessity of things we can't do without, while want is luxury so I normally fill our needs first before wants if need be.

I live within my means and contented with what I have it's the key to happiness, and I've tried as possible as I can to avoid debt and borrowing money because a borrower is a slave to the lender, so I normally do our monthly budget based on our income and I've tried to save at least 5% of our monthly income for future life events, I was hoping to save more, but life is not easy, I mean we must survive first.

I used to do window shopping and buy from warehouses or local markets where I could get what I wanted at more affordable prices, and I normally go for more quality products so that they will last longer and save costs in the process.

Hmmm it's raining everywhere, I understand that everyone is facing the same situation, so I normally try to fill my important needs. But if worse comes to worst I normally seek help from my elder Sister @gracyakan She's my second Mom and ready to help as long as it's within her reach, I cherish her so much!

Life is getting harder day after day, so we must be money wise, We should always save before we spend, live within our means and expenditure and avoid borrowing money as possible as we can. And most importantly saving for rainy days, yes an emergency fund, also having more than 1 stream of income is essential for survival in this critical time. Thank you 🙏

I would like to invite my friends @beautiful12, @shiftitamanna and @mdkamran99 to be part of this contest.