SEMINAR RECAP ON THE TREASURED ENTREPRENEURS ASSOCIATION TEA HALL OF WEALTH MEMBERSHIP GROUP PAGE
👉🏻 Theme:
❤ 18 WAYS TO SURVIVE WHENEVER YOU ARE BROKE…
🎤SPEAKER/FACILITATOR/DISCUSSANT
đź—Ł Mr Fayomi Macklinola
TEA NATIONAL PRESIDENT….
Good evening fellow TEA mates.
How has the day been?
And how has this corrosive season of the Corona Virus been treating you and yours?
I am sure, we have been using the lockdown situation positively.
As holy script wrote “everything works together for good to those who love the Lord”.
This season and the nightmares will soon pass. Every thing shall end in praise.
Meanwhile, let’s learn together about one of the coping and survival mechanism in this season.
That is the topic we are treating tonight
18 Ways To Survive When You’re Broke
Before I start my elucidation, I must give honour to whom honour is due.
I speak of Mr. Asuni Adeshola, the TEA visioner and Project director.
More power to your inspired elbow sir!
Now straight to business. Welcome on board as we take the insightful flight into a world of no limit.
These are indeed trying times.
Financially too, it may be more trying immediately after this lockdown.
Western nations who pride themselves as developed are already showing signs of financial distress.
Weaker ones who has been classified as developing will be much more financially distressed.
Since ours is now a global village, no one is immune to the unfolding financial calamity that will follow this corona virus saga.
Therefore, as they say knowledge is power. We need to be equipped about how to deal with the situation.
These personal finance tips will help keep you going when you have no money and start moving towards financial freedom.
Here they are:….
- Keep a positive mindset…
Nothing is permanent and you just have to do the best you can to get through it.
Stressing and having a negative mindset isn’t going to change the situation, it’s only going to make you feel worse.
Take it day by day and focus on the positive.
- Try a no – spend challenge
Turn saving money into a game to stay motivated.
Try not spending money for a week or do a 30 – day no – spend challenge.
Certain necessities like groceries are allowed, but any extra spending is not allowed.
- Find free activities to keep busy
If you are broke, staying in and moping about the situation isn’t going to help.
Check out a book and read or watch a movie just to get busy.
Keeping busy will take your mind away from your current financial situation.
- Skip some necessity such as phone bills for week.
How much do you spend on making calls per week?
Try skipping this unless its a business calls for a week. And watch how much you’ll be saving.
Let it be that any money spent is an investment to bring more money.
- Sell items you don’t use for extra cash
Chances are you have plenty of things around the house you don’t use anymore.
Clean out the closets, basement, or garage and sell them for some quick cash.
Try Facebook buy/sell groups, Craigslist, or any other local community groups.
- Take a close look at your budget
When money is tight, a budget is a necessity.
Create a budget so you’ll know how much money is coming in and where it’s being spent.
- Cut unnecessary expenses
When you first find yourself with no money left at the end of the month, you should start by taking a look at what expenses you can reduce/eliminate.
For example, subscriptions for music, tv streaming, and gaming can be reduced or eliminated.
Also, you can have leftovers to save on food waste or create a meal plan to cut your grocery costs.
- Consider ways to reduce your fixed expenses
There are times we end up in a situation where there’s no way out other than making a significant life change.
- Put the credit cards away
Borrowing to service vanities will only lead to more debts.
Make no borrowing a slogan at this period because the borrower is a slave to the lender until he is able to pay.
- Take responsibility for your actions
Try not to blame everyone else for your situation. Realize that you have made decisions that led you to where you are today.
Taking responsibility for your own actions is an important step to avoiding the same mistakes.
- Find additional sources of income
One of the quickest ways to get out of a financial hard spot is to increase your income.
Take advantage of the timely seminars that we give on this platform on a regular basis.
- Pay your bills on time
Whenever possible, try to pay your bills on time.
When bills mount up, they tend to weaken one and crowd the financial space and often leads to been broke.
- Learn ways to live more frugally everyday
There’s always ways to stretch a naira. From being more conscious of your utility usage to meal planning to cut your grocery costs, little savings will add up!
- Track your expenses
You can’t get your spending under control until you know where your money is going.
Start tracking your expenses each month so you can get a clear financial picture. Once you identify where you are spending money, you can start looking for ways to cut those expenses.
- Find an accountability partner
Whether it’s a spouse, family member, or trusted friend, find someone that will help to hold you responsible for your actions.
They can help you celebrate your wins too!
- Learn your weaknesses
Think about where your financial weak spot is.
Do you like to grab fast food for dinner on busy days?
Or maybe you can resist shopping when you have a coupon or discount code?
Once you know where your biggest weakness is, you can take steps to overcome it.
- Set clear financial goals
A clear picture of what you want for yourself is a must!
You need to know what you are working towards to stay motivated.
- Carry only the cash for trouble spots and not more.
Use cash. Take out cash for the budgeted amount for your trouble category to prevent impulsive spending.
If we can keep these eighteen tips as our guide when we are broke, we will soon be out of the financial wood.
Financial abundance which we all seek will be ours.
Thanks for staying tune!
Good bless you all🙏🏻🙏🏻🙏🏻
TREASURED ENTREPRENEUR ASSOCIATION 
This is awesome 🙏. It’s just the needed tonic in this lockdown
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