Many years ago, I used to avoid looking at my numbers because I feared the truth that I was broke. But then I realized that gaining clarity and facing my financial reality head-on was the first real step toward building wealth.
You see, sometimes it feels uncomfortable, even scary, to closely examine your finances, especially with how tough the economy is right now. But trust me, avoiding it won’t make it go away. If anything, it keeps you stuck right where you are.
You can’t build wealth if you don’t know your starting point. It’s like trying to map out a road trip to Lagos without knowing whether you are starting from Owerri or Port Harcourt. If you are not honest about where you are now, it will be tough to reach your destination.
I have shared before how I made my first one million by solving problems during my university days, but I couldn’t account for that money after my NYSC service. Why? I didn’t know my numbers, and I didn’t understand the basics.
It wasn’t until I took the wealth challenge, that I grabbed a pen, and listed out my income, debts, expenses, savings and investments, that things finally started to make sense to me.
That was my starting point. I won’t lie, it might feel overwhelming at first to write everything down, but this simple act of putting your finances on paper gives you a clear picture of your financial reality.
It forced me to face the hard truth: I was broke. I realized that I was spending more than I was earning, and my savings account was always empty. But instead of accepting that as my fate, I decided to take charge.
I had to accept my reality and take control because no one was coming to save me. My financial well-being was 100% in my hands. I wasn’t hoping for a lucky money or expecting someone else to fix things for me.
I made a choice to believe that I had the power to change my situation.
So, what did I do differently? Where did I start?
I started by maintaining a survival budget. This became the foundation of my financial control. I began tracking all my income and expenses, seeing where my money was really going, and finding areas where I could cut back and make savings. It was a magic.
I also realized that even saving small amounts matters. I committed to saving and investing a portion of my monthly salary, no matter how small.
It wasn’t about how much I saved or invested at first; rather it was about building the habit of consistent saving and investing, a habit that still serves me today.
I set goals, giving myself a target to aim for every month. It kept me motivated and focused. I also found creative ways to bring in a little extra income, even though it was challenging. Sometimes, it’s the small side hustles that add up that starts a big business.
Listen my dear, don’t let fear hold you back. Just take that first step. I know that looking at your financial situation might feel like facing a mountain, but the truth is that the mountain won’t move unless you take the first step.
Once you start, you will find that each step gets a little easier, and you will feel better as you go.
I am sharing this because I want you to take responsibility for your financial future, no matter how tough the economy is. If I had the power to change my story, you have that power too. It’s possible to build the wealth and security you deserve.
I am the Billionaire Mechanic, and I am telling you to start now. Start by knowing your numbers, face the hard truth, and take those first small actions. Don’t wait for the perfect moment.