5 Steps Every N-Power Volunteer Must Take To Achieve Financial Freedom While The Programme Last

Achieving financial freedom has little to do with the kind of job we do or how much we earn. The world is replete with men who earn 'big' and still struggle financially. Achieving financial freedom is largely dependent on our ability to manage what we earn and understanding the basics of financial intelligence.

As N-Power beneficiary or potential beneficiary, here are some necessary steps you must take to free yourself from financial struggle and achieve financial freedom during and after your two-year volunteer period. Remember that even if you've not been observing these rules, it is not too late to start today.

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#Invest in asset; not liability: The primary cause of financial struggle is simply not knowing the difference between an asset and a liability. Simply put: An asset is something that puts money in your pocket. A liability is something that takes money out of your pocket. With this definitions in mind, you now know the difference between a volunteer who save up his monthly stipends and decide to furnish his room with a new plasma TV, a big foam, and a power generating set; and another beneficiary who save up his stipends and decide to set up a mini cement depot or start a mini poultry farm or fish pond. This is all you really need to know.

 If alternatively you choose to save your money in bank, you are well helping your bankers achieve their own financial freedom by lending your money out and collecting huge interest rate and paying you N12 or N13 monthly interest, as typical of most commercial banks in Nigeria.

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To continue your dependence on monthly stipend or government empowerment/social security benefits, just continue to acquire liabilities for your comfort but if you really want to actualize your dream of achieving financial freedom, learn to use your money to make more money by ensuring steady flow of your cash from the income column to the asset column. Just take a careful look at your area to identify potential lucrative opportunities where you can invest and earn good returns.

#Avoid luxury items: At least for the time being. Well, it is normal for us to want to add new cloths to our wardrobe, get Iphone 8 and taste continental diets in the newly opened restaurant or hotel in town. What is however abnormal, is to insist on having these things when our financial capacity cannot support such lifestyle. 

It's natural for us desire good things but failure to control or even tame our desire and hunger for such things is capable of landing us into a financial wheelchair and subjecting us to endless financial struggle throughout our lives no matter how much we earn.

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To avoid this, accept the fact that you cannot have everything you want; at least for now. You must draw a line between things you want and things you need. N-Power volunteer who depend solely on the monthly stipends should learn to patronize local food sellers instead of going to Pizza or Shoprite for lunch. It is called humble beginning.  

Of course there's nothing wrong with going to Pizza provided you have the money. But, it will amount to foolhardy for one to engage in such frivolous spending if your only source of earning is your monthly stipend. 

#Invest in yourself: Most people are just fine where they are and with what they have that they hardly see the need for improvement and growth. The benefits of learning new skills cannot be overemphasized. I know a volunteer who spent four months learning graphics design while discharging his duties as a teacher in his PPA. Today, he designs graphics for an online media company that pay him N35000 per month for designing graphics for them from anywhere he is. 

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Think about this. Some others are pursuing post graduate studies for more advanced certificates. So what are you doing now to become a better you tomorrow? In the real highly competitive labour market (the Nigerian factor aside), only the skilled and knowledgeable gets the job when open to competition.

#Avoid needless competition: The other lady in you place of primary assignment wears different outfits to work everyday is good but to begin to envy her or want to look like is greed. Be yourself. Modesty should be our watchword here. As N-Power volunteer, you should always appear neat instead of expensive. Most people who tries to look expensive always end up wearing indecent dresses. Just be contended. 

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Don't think much of the other person because you don't know the source of their money. Use your earning wisely and avoid unnecessary competitions. A friend recently told a story  of a young school teacher who use two trousers and two shirts throughout the term but still emerged as the best well-dressed teacher in the school. Expensive phones, earrings, wristwatch, shoes, trousers and tops are good but they are in most instances, the shortest cut to financial slavery.

#Plan ahead: If you are not at present, planning your life after this two years then you are certainly in trouble. God will take care of the future but God is also pleased with and loves a prudent and shrewd person. There is a saying that he who fails to plan plans to fail. And that is true. If you've not articulated what your life after this period will look like then you'd better go to work. Take a look into your future and know if you're okay with what you see.

The fact that you read up to this point is a strong indication that you really want to succeed and your are certainly succeeding already. Thanks for your time.

Chris Ezemoyih is a Journalist, blogger, and author. He is the president of Rising Leaders Foundation, a non-profit committed to helping young people discover their talents and maximize their potentials.