Trying to save is no easy job especially when the amount in question is a paltry sum of #19,800. The chances are, that you might end up spending the money before you even receive it. Since I pride my self in being altruistic I'm willing to share a few tips on how to save your NYSC allowee irrespective of what the additional state allowance may be. I saved over #150,000 during my youth service and mind you I had never made an attempt at saving a dime any day in my life before I went for service in fact the money in my bank account was just only #10,000 but I had clothes worth over #8,000 and shoes worth #12,000 that I had never worn all sitting pretty in my closet. Why am I saying this? Anyone can save. You mustn't be Chijioke or Obinna before you have money in your account. So, here's how to save your #19,800.
1, Draw out a plan of the things you intend to achieve during your Youth Service, writing your goals on paper always helps to keep you in focus.
2, Don't try to save your first allowee, I'm talking about the first one you received in camp because you are going to need all that money for the errands you will need to run once you leave camp. Don't worry there's still eleven more 19,800's to go.
3, If you get lucky and your star is very bright you may get posted to a PPA like Exxon Mobil where you will be paid #50,000 per month, for the majority of us, many thanks to the witches in our villages who get posted to places like Ijebu grammar school don't expect anything more than #5,000 per month so any chance of saving rests solely on your #19,800.
4, Make friends with an Igbo person, nobody can save money like an Igbo man or woman, all my Igbo friends saved over #250,000 from their NYSC hustle. An Igbo friend is the best motivation and inspiration for you to save. You will understand why am saying this when you see the contents of Emeka's bank account. Emeka your friend who has only one blue jean and one black trouser has money in the bank that can buy land in your states capital.
5, After settling down nicely in your place do a feasibility study of what you can do to earn an extra income. Most corp members run tutoring programmes and so that line of business has become highly saturated. Look around you and find out what problem you can solve that would fetch you an extra income I have friends that supplied shear butter and honey to companies and for household consumption. I also have friends that supplied fish and crayfish from the state I served in to other states where it was more expensive.You could also get a part time job.
6, Make a spending plan, things like feeding and transportation should be at the top of your priorities and things like new clothes or shoes should be considered as frivolities. You have to learn to be content. Many corp members who bought new phones with their proceeds from the last elections didn't enjoy them well enough before they got stolen. Priorities!
7, Start by saving a little bit of your #19,800 every month. If you want to save say 50% of your allowee it is advisable to start by saving may be 30% percent when you can conveniently save that you save 40% and then 50% eventually.
8, Invest in yourself; learn a skill or two, getting HSE/PRINCE2 or NIM certifications are much cheaper as a serving corp and it will give your resume an edge over that of other job seekers in future who don't have those skills. Also, you could learn a non vocational skill from the NYSC Skill Acquisition and Entrepreneurship Development programme (SAED) organised for corp members.
9, Make sure you take good care of your health, mixing your PPA job with your business or second job and at the same time learning a skill or getting a certification why trying to save some money could be a lot to take in.This is where you learn the act of time management and also ensuring that the whole process doesn't take it's toll on your health.
10, Make out time to take yourself on a treat once in a while, you can do this when you have achieved one of your goals, its your way of telling yourself job well done!
This isn't only about saving your allowee, this is about becoming more responsible, setting your priorities and preparing yourself to be an adult. Good Luck!
1, Draw out a plan of the things you intend to achieve during your Youth Service, writing your goals on paper always helps to keep you in focus.
2, Don't try to save your first allowee, I'm talking about the first one you received in camp because you are going to need all that money for the errands you will need to run once you leave camp. Don't worry there's still eleven more 19,800's to go.
3, If you get lucky and your star is very bright you may get posted to a PPA like Exxon Mobil where you will be paid #50,000 per month, for the majority of us, many thanks to the witches in our villages who get posted to places like Ijebu grammar school don't expect anything more than #5,000 per month so any chance of saving rests solely on your #19,800.
4, Make friends with an Igbo person, nobody can save money like an Igbo man or woman, all my Igbo friends saved over #250,000 from their NYSC hustle. An Igbo friend is the best motivation and inspiration for you to save. You will understand why am saying this when you see the contents of Emeka's bank account. Emeka your friend who has only one blue jean and one black trouser has money in the bank that can buy land in your states capital.
5, After settling down nicely in your place do a feasibility study of what you can do to earn an extra income. Most corp members run tutoring programmes and so that line of business has become highly saturated. Look around you and find out what problem you can solve that would fetch you an extra income I have friends that supplied shear butter and honey to companies and for household consumption. I also have friends that supplied fish and crayfish from the state I served in to other states where it was more expensive.You could also get a part time job.
6, Make a spending plan, things like feeding and transportation should be at the top of your priorities and things like new clothes or shoes should be considered as frivolities. You have to learn to be content. Many corp members who bought new phones with their proceeds from the last elections didn't enjoy them well enough before they got stolen. Priorities!
7, Start by saving a little bit of your #19,800 every month. If you want to save say 50% of your allowee it is advisable to start by saving may be 30% percent when you can conveniently save that you save 40% and then 50% eventually.
8, Invest in yourself; learn a skill or two, getting HSE/PRINCE2 or NIM certifications are much cheaper as a serving corp and it will give your resume an edge over that of other job seekers in future who don't have those skills. Also, you could learn a non vocational skill from the NYSC Skill Acquisition and Entrepreneurship Development programme (SAED) organised for corp members.
9, Make sure you take good care of your health, mixing your PPA job with your business or second job and at the same time learning a skill or getting a certification why trying to save some money could be a lot to take in.This is where you learn the act of time management and also ensuring that the whole process doesn't take it's toll on your health.
10, Make out time to take yourself on a treat once in a while, you can do this when you have achieved one of your goals, its your way of telling yourself job well done!
This isn't only about saving your allowee, this is about becoming more responsible, setting your priorities and preparing yourself to be an adult. Good Luck!
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