INTRODUCTION

Proactive steps is needed to protect and grow our finances so that it will retain its value and improve in worth. Carelessness on our part can ruin our finances and make us to be very poor. Many people, once wealth and rich families are very poor because they failed to protect and grow their wealth.

To improve the values and worth of our finances is far beyond saving them in the bank vaults. Many people that did such acts or related attitudes, lost the value of their money by default as the decreasing potential of inflation affect the purchasing power of their saved money and render them even poorer. To invest our money and enjoy its profit while it keeps growing in value remains one of the best acts that can save our wealth and resources.

Many people that indulge in those bad practices often does not understand its effect as first but decreasing value and lost of their wealth became their end product. Let's talk about such practices, examples and solutions to such financial predicament.

Overspending.

Whenever the expenditures is higher than income, financial ruin have set in gradually and it's effects are very devastating. One spending beyond budget and as it's income stipulated always find oneself in debt and financial woes. The problem lies in the amount of money spent, not necessarily on what one bought because it might be very important items, gadgets, clothing and other expenses but it's very high for his/her income at the moments.

It's better for one to have a well detailed plans and budget that stipulated the necessary item and amount within the limit of the income streams. Ostentatious and impulse buying should be avoided at all times. Quality goods, even if it's costly but with the limit of the income should be purchased because of its good service and durability.

High Interest Debt.

Sourcing of capital is one of the major problems that affect business, home economy and startups. To remain float and sustained financially, many people are desperate and seek high interest loans and debts. Such loans are easily accessible but very difficult to be managed. It offer the great impact and push necessary for the growth needed but it's effect when it's interest started to accumulated is very devastating and ruin the finances.

It costs huge amount of money to service such debts and loans. Also, the productivity can dropped making it very difficult to be managed effectively. Nigeria and other African countries are in serious debt due to high interest loans or debts from their foreign partners. Most nations have lost their resources and accessibility to their valuable deposit due to such debt deals. In this era, many of those nations like Uganda have lost their airports to their greedy foreign partner, China and Nigeria will follow suit.

Neglecting the potential of Savings.

Setting aside a reasonable portion of our income after necessary expenses is very important and can save our finances. There are many ways to achieve this feats successful and can be indicated clearly on the well prepared budget. Savings inject fresh financial impulse on the wealth pool of the entities and set a newly way for financial freedom.

Savings impact positively on the income streams and reduce financial strain on the economy. In the practical study, two friends earn differently from the vocation. One that earn little have a good saving process and abide with it seriously while the other overspend and does not have savings. In the long run, the first person remains financial buoyant while the other struggles in penury.

The importance of Savings can not be overly emphasis and it's goodness can set its owner financial freedom. Ancient King of Israel, Solomon Compiled his proverbs and say that good thing about savings and hardwork. In his teachings, he employs the lifestyle of two animals to explain clearly his inspired ideas. Ant is very industrious and clever. They built up several silos under the ground and they labored seriously to store their food and grain while grasshopper was busy, jumping from one's leaves to another. Without savings, grasshopper eat heavily. When the seasons changes, ants moves into the ground and their safe for constant feeding and enjoyment while grasshopper hardly moved around and suffers because there was no savings.

Lack of Self Improvement and Skills

As the world evolves and improves, that's how we should enhance our potential and abilities to be relevant and sustain ourselves effectively. Avail ourselves on occasion and forum where practical skills and knowledge are shared will improve our productivity and abilities. Many successful entrepreneurs and business owners improves their skills and knowledge regularly that's the reason why they are advanced and successful. Harvard school of business and other citadel are examples of interactive formal backgrounds where knowledge and strategies are shared and engaged meaningful. Their students are very successful in their endeavor because they keep improving themselves.

Poverty and financial ruins creep unto the lazy and less - ambitious individuals as they never think of ways of improving themselves. Realities have lead to lost of jobs as sophisticated methods and equipment are employed for better results. Mark Zuckerberg and others constantly reads books and studies impressively for better performance and decisions.

Finally

Carelessness and dishonest approach should be avoided and better practices. Proactive methods can save our finances. Such methods includes savings, hardworking and other economic can improve one's finances.

Avoidance of these habits and activities will secure our finance and make way for it to be invested for financial breakthrough which is possible for long term stability and success.