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RED CARD: As rugby gladiators sheathe swords…

RED CARD: As rugby gladiators sheathe swords…

It
is indeed refreshing to see peace returning to the rugby family in
Nigeria. Two years of conflict between two key members of the family
-Friends of Rugby and Racing Club came to an end on Thursday.

The disquiet in the
fraternity had commenced in 2009 after the National Sports Commission
(NSC), which felt that some sports in the country would fare better if
they were allowed to be run by private individuals, had gone ahead to
concession them; one of the affected being rugby.

Friends of Rugby, a
body comprising individuals interested in promoting the game and which
lost out in the bid, accused the then Secretary General of the
federation of masterminding its defeat. At any rate, Racing Rugby Club
went ahead to form the leadership of the new board.

Also interested in
moving the game forward, members of the new board of the NRFF,
comprised largely of young and intelligent men, threw their energies
into the effort. But it clearly wasn’t going to work out because as a
rule the international Rugby Board (IRB), which supervises rugby
globally, does not recognise concessioning but elections as a means of
changing the leadership of a national federation. It promptly clamped a
ban on Nigeria from participating in all competitions organised by it
in addition to withholding grants to the country.

That was the state
of affairs until the National Olympic Committee (NOC), through Tunde
Popoola, its Secretary General, waded in January. The warring parties
agreed in principle to come together to form a new board through the
holding of elections, which would begin at the zones. That process has
run its course leading to the meeting last Thursday, where results of
the elections from the different zones were collated and a formula for
sharing of positions in the federation agreed upon.

This is clearly
sweet music to the ears of those of us who have craved a settlement of
the crisis. The cost of conflict has been high. Our inability to take
part in high profile rugby competitions because of the subsisting ban,
robbed us of the opportunity raise our profile in the game. The fact
that the ban happened at a time the awareness of the sports was
growing, with more and more young men embracing the sport either as
players or spectators, made it even more unfortunate.

Getting back on track

Thankfully, we have
put that behind us. Now is the time to make up for lost time. We must
commend officials of the old board, led by Kayode Oguntayo, for the
maturity they showed in agreeing to hold elections. It shows them to be
really committed to the growth and development of the game. The impact
they had on the sport in the brief period they held the fort has been
visible to all, particularly their push to capture children in
secondary schools through the Cowbell iTRY programme. If sustained, the
programme has the potential of bringing about growth in rugby even
beyond the grassroots, which they are focusing heavily on at the moment.

Kudos must also go
to the Kelechi Mbagwu-led Friends of rugby. They did not allow their
loss to Racing Rugby at the bidding to derail their Lagos Union Rugby
League, which has helped in keeping our players busy.

That said, the
point cannot be overemphasised that the two parties must resist the
temptation to lapse back into a war of attrition. They must keep faith
with the agreements, which ushered in this new dispensation. There are
bound to be minor disagreements at this time; it is perfectly normal
for that to happen after all they have been engaged in conflict for two
years. The thing to do is show enough maturity to understand that no
one can have his way all the time. The overriding consideration at this
time should be how to re-integrate Nigerian rugby back into the
mainstream of global rugby from which it has been ostracized for the
last two years.

Aside our players getting a feel of international action, grants
from the IRB, no matter how little they are, will certainly go a long
way in easing the financial burdens of the NRFF.

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Jega admits ballot paper woes

Jega admits ballot paper woes

Chairman of the Independent National Electoral Commission,
Attahiru Jega, at the weekend conceded that the electoral body bungled the
printing of ballot papers for the presidential election billed for next
Saturday, but said the process was later resolved.

Mr Jega said procuring the presidential election ballot papers
became problematic when two foreign companies rejected the job last minute
after previously assuring to deliver by the deadline.

“It is true that we had challenges with the contract for the
presidential ballot papers,” Mr Jega said. “But the situation has been resolved
and we now have all the materials we need for the presidential election.” He
said the first company withdrew after initially guaranteeing timely delivery; a
second company in South Africa, which took over the contract, also withdrew for
the same reason. Each had undertaken to print the ballot papers for the main
election and a rerun.

A third company finally delivered on the job, but only after a
mix-up forced the commission, as it raced to meet elections deadlines, to
cancel the printing of the papers for the main presidential election, and going
ahead to commission the rerun printing, he said.

“People got to know this and they made it look as if we
deliberately printed the rerun ballot paper and left the main, anticipating a
rerun,” he said. “Every electoral commission has to plan for the main election
and the rerun. Everything we have done, we can defend them.”

After a week of public rage over the April 2 postponed
elections, the rescheduled poll on Saturday was widely adjudged a fair
improvement, with millions of voters carried through orderly accreditation and
voting with relatively few troubled areas.

An elated Mr Jega said cases of missing names on voters’
registers, late arrival of materials, violence and reported cases of diverted
materials, will be tackled before the crucial presidential election on April
16. “Evidently, some politicians are still living in the past believing that
snatching ballot boxes and papers will allow them declare false results. But we
are confident that with the new accreditation and security, that will not be
the case,” he said.

Insulting insinuations

He said the missing names were caused by mix-ups in the
deployment of the Direct Data Capture machines and will be corrected before
Saturday, while the commission had received all materials needed for the election.

He took swipes at media reports that criticized his leadership in the wake
of the cancelled election last week. “Every day you read a report that says
there is a division in the commission and you look around and there is nothing
like that and you know they want to undermine us. It is really unfortunate,” he
said. “They want to portray us as partisan. Some say we have meetings with the
politicians. I feel very insulted. People who know us and know our reputation
know that cannot happen. Why would we take this job this far and be doing these
kind of things. But that is the nature of Nigerian politics; we have a job to
do and we will do that job to the satisfaction of Nigerians.”

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Mob manhandle thugs dressed in military uniforms

Mob manhandle thugs dressed in military uniforms

The ruling Peoples Democratic Party (PDP) emerge victorious in
one Senatorial seat and two House of Representatives seats from the results of
the National Assembly elections in Ebonyi State so far released by the
Independent National Electoral Commission (INEC) in Abakaliki.

The closest rival, the All Nigeria Peoples Party (ANPP) won one
House of Representatives seats.

The state has three senatorial seats and six House of
Representatives seats, out of which elections took place in two senatorial and
five federal constituencies.

Elections into Ebonyi North Senatorial seat and
Ohaozara/Onicha/Ivo federal constituency were among those postponed by INEC.

The result announced by the INEC returning officer, Achilike
Beatrice indicate that the candidate of the PDP in Abakaili/Izzi federal
constituency, Sylvester Ogbaga scored a total of 45, 559 votes to defeat seven
other contestants. Emmanuel Uguru of the All Nigeria Peoples Party (ANPP)
scored a total of 16, 300 while All Progressives Grand Alliance (APGA)
candidate Uchenna Mbam secured 6, 149 votes.

In Afikpo North/South federal constituency, PDP candidate
Christopher Omo Isu defeated his opponents while the ANPP candidate for
Ishielu/Ezza North federal constituency, Peter Ede scored the highest number of
votes.

In Ebonyi South senatorial seat, PDP’s Sonni Ogbuoji scored 65,
735, ahead of Idu Igariwey of ANPP and Darlington Okere of ACN.

The election witnessed low turn out in most areas, even as
voting continued into the night in some places.

The results of Central senatorial zone, Ezza South/Ikwo federal
constituency and Ohaukwu/Ebonyi North federal constituency elections are still
being awaited as at the time of filling this report.

Electoral challenges

At Nkaliki in Abakaliki Local Government Area, 13 thugs, dressed
in army uniform and suspected to be engaged by the PDP, were over powered by an
angry mob who manhandled them before handing them over to the police.

At Ikwo Local Government Area, the home of both the state
governor, Martin Elechi and that of Martin Nchita Ogbuewu, the All Peoples
Grand Alliance (APGA) gubernatorial candidate, the exercise recorded low
turn-out with late arrival of electoral materials that led to late commencement
of accreditation and election.

Also at Ndufu Alike in governor Elechi’s country home,
supporters of PDP and APGA clashed resulting in some sustaining knife cuts.

At Agubata, Akuna Akuna, one man identified as Charles Ogboji
allegedly stopped INEC from accrediting voters against the wish of INEC staff.

Money was handed to voters on queue at Abina Ndufu in Amagu ward two and
Ndubia in IIkwo, though the turn-out was encouraging with the electorate
enthusiastic to have their own share of the money before casting their vote. At
Ekpaomaka and Ekpanwude electoral materials meant for four polling units were
snatched by gun-wielding thugs.

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Akunyili, Ngige election inconclusive

Akunyili, Ngige election inconclusive

The results of the
election in Anambra central senatorial district have been put on hold
by the Independent National Electoral Commission (INEC) pending a rerun
election in three wards in Njikoka local government.

The decision came
in the wake of strong protests by agents of the Action Congress of
Nigeria (ACN) against the cancellation of results in the three wards,
which they claimed would have catapulted their candidate, Chris Ngige
to victory.

NEXT gathered that
the All Progressives Grand Alliance (APGA) candidate, Dora Akunyili was
slightly ahead of her closest rival, Mr Ngige, from the results already
announced by the electoral body. But when the results from Njikoka were
received, the ACN agents claimed they received a text message from
their agents in the cancelled wards which they said showed that ACN led
in two of the areas, a development they pointed out would have ensured
victory for their party in the overall result.

Led by their state
agent, Kingsley Ezenwenyi, the ACN agents insisted the results should
not be announced and threatened to deal with the returning officer if
he went ahead to announce the results. They shouted and hurled
invective at both the Election and and Returning officers – and even
chased the Returning Officer into the first floor office of the
commission.

Finally both officials walked out, leaving some other officers of the commission to explain the situation to the protesters.

A spokesperson for
the commission, Mr Nwunelli, said the cancellation was because of the
non-availability of result sheets which were snatched. He said there
was a new INEC guideline which stipulated that when the total number of
registered voters is added up and found to be capable of upturning the
result, such would be declared inconclusive.

He said the number
of voters in the affected wards was found to be capable of upturning
the result and hence no return would be made. He said the result had
therefore been put on hold pending a rerun in the Nimo and Enugwu-ukwu.

A briefing by the
resident electoral commissioner with the press could not however hold
as soldiers flooded the entrance to the commission’s headquarters and
refused the journalists entry.

In Nimo, people
dressed in Army uniform had stormed wards one and two and commandeered
the INEC staff to part with the result sheets. The operation was
believed to have been orchestrated by a politician of the town
belonging to the Accord Party, whose party was hopelessly outclassed in
the wards by ACN and All Progressives Grand Alliance (APGA).

In the declared result, Andy Uba of the PDP won in Anambra south.

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Osoba rules out alliance with Daniel

Osoba rules out alliance with Daniel

Former Ogun State governor and leader of the Action Congress of
Nigeria (ACN), Olusegun Osoba yesterday said the governor, Gbenga Daniel was
not in reckoning of the party in the state.

Mr Osoba who spoke with journalists at his Abeokuta residence
against the backdrop of the sweeping victory of his party at the polls, the
state chapter of the party has nothing and will not have anything to do with Mr
Daniel as regards political alliance as being speculated.

He said: “We don’t need any alliance of any kind with anybody or
group. We don’t want to pollute our reputation with fetish people.

If anybody thinks that I will sit down with the out-going
governor, he is wasting his time. The speculation was that he went to Lagos
which I doubt, but Lagos is not Ogun State I will continue to respect the
office of the Governor where I have been twice , where we are going to be by
May 29, but his person should be separated from the office.”

He, however added that if the governor after the election makes
any move to him he is available. “Until we conclude all the elections, no
interest or talk with anybody. I have nothing against his party; he has the
right under the constitution to form any party of his.”

Lauds security
arrangement

The former governor lauded the security arrangement during the
poll and commended security agencies for standing against all odds by some
unscrupulous politicians who wanted to rig the elections. “I want to commend
the entire police force in Ogun State for the brilliant performance that they
put up. The police and other security agencies, particularly the Brigade
Commander whose men responded instantly to many of the distress calls that were
made to them particularly in flash points where they attempted to disrupt
elections and snatch ballot boxes.”

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Peaceful elections in Ondo

Peaceful elections in Ondo

There was a large turn out of voters in Ondo State as the
rescheduled National Assembly elections started on a relatively peaceful note
in all of the local councils visited.

As early as 8am, the electorate trooped out to exercise their
civic responsibility. Some of the areas visited were, Supare, Owo, Ose,
Iwaro-Oka, Akungba and Ikare, all in the Northern Senatorial district of Ondo
State. Other areas were: Ondo town, Idanre, Owena and Igbara-Oke areas of the
Central senatorial district.

However, violence was recorded in some areas later as thugs
invaded the polling units shooting intermittently to scare the electorate.
Specifically, some political thugs engaged security operatives in a gun duel in
Ogbese area of Akure Local Government and two of them were reportedly killed in
the process.

“No death was recorded in Ogbese, some thugs engaged the police
in gun duel and they were later arrested by the police,” Mr Aremu said.

Also, there were alleged inducements of voters with cash in
Owo/Ose area as politicians of the three major political parties in the state
openly offered cash to voters in exchange for their votes.

Election did not take place in three out of the eighteen wards
in Arogbo in Ese-Odo Local government area of the state.

In Owo, the Action Congress of Nigeria Candidate (ACN) candidate
for Owo/Ose Federal Constituency, complained about the use of government
vehicles to intimidate voters.

The Deputy Governor of Ondo State, Alli Olanusi, who spoke with
reporters after voting at his home town, Supare, commended the strict
enforcement of the no-movement order.

Mr Olanusi who voted at Saint James Primary School around
12.35pm said the election was peaceful and devoid of violence.

Praises for INEC

The state governor, Olusegun Mimiko also praised the peaceful
conduct of the accreditation process during the National Assembly elections in
the state.

Mr Mimiko spoke with newsmen shortly after casting his vote at
1pm at Open Space, Opposite Mango Tree polling unit, Lodasa/Iparuku/Lijoka Ward
in Ondo Township as well as his wife, Olukemi.

He praised the diligence of the security agencies in enforcing
the restriction on movement during the election period and ensuring orderliness
at various polling centres during the election.

“Let me say it is too early to be absolutely categorical, but
the preliminary report that we have gotten from the field shows that the whole
exercise had been relatively peaceful particularly because of the enforcement
of the restriction of vehicular movement. The report we got up till the end of
accreditation exercise has been that it has been generally peaceful, but we
don’t know what is happening all over the place now. After this, I will be able
to get in touch to know what actually happened,” the governor said.

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Ekiti residents react to poll shift

Ekiti residents react to poll shift

The decision of the Independent National
Electoral Commission (INEC) to shift the parliamentary election in Ekiti State
to 26 April has drawn reactions from politicians across the state. The
politicians complained that the rescheduling of the polls will have serious implications
on their resources.

The Resident Electoral Commissioner of the state
Halilu Hussaini Pai told journalists yesterday that the decision to shift the
election was carried in consultation with all the political parties in the
state. Mr Pai, however, promised that the Commission will conduct free, fair,
credible and acceptable election at all times and called on the people not to
be disappointed in the electoral process.

However, the PDP candidate for Ekiti South
Federal Constituency 2, Femi Bamisile described the postponement as
embarrassing and constituting a financial burden to him.

Reactions

Although the candidate expressed confidence that
INEC is capable of conducting credible elections, he posited that the incessant
deferment of election may cause apathy among the electorate. “We could
understand that the INEC is having problems of logistics, and if this is what
the commission is out to correct, we are ready to cooperate,” he said. “But I
am not particularly happy about the postponement, because it has affected us
financially and morally.”

His Action Congress of Nigeria counterpart, Ife
Arowosoge also expressed disappointment with the incessant postponement, saying
it has caused psychological torture to all Nigerians.

“The postponement has dampened the morale of highly enthusiastic Nigerians,”
he said. “We call on the INEC Chairman to correct the electoral ills in the
overall interest of the nation.” He said.

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Jonathan condoles victims of suleja blast

Jonathan condoles victims of suleja blast

Speaking at the Abuja University Teaching Hospital, Gwagwalada,
while visiting victims of the Friday Suleja bomb blast, President Goodluck
Jonathan reiterated that the perpetrators will be made to face the law.

He also expressed happiness at how citizens turned out en-mass
to choose those to represent them at the federal level during the weekend,
despite all the setbacks. He noted that during subsequent elections all hitches
witnessed last week would have been cut down as all mistakes would have been
corrected.

Mr Jonathan, who arrived at the Gwagwalada Teaching Hospital at
2:16 pm, was received by the Chief Medical Director, Dr. Peter Alabi. He was
accompanied by the Minister of Defence, Adetokunbo Ademola and senior
Presidency aides. He offered words of sympathy to each of the 14 victims.
Speaking to journalists after signing the hospital guestbook, Mr Jonathan
expressed sadness that anyone would want to cut down the future and hope of
Nigeria by hurting its youth.

A ray of hope

“As regards the elections, we all are happy that despite some
setbacks that were witnessed, Nigerians generally are happy that at least they
can decide who will represent them or who will govern them. I believe that by
2015 when elections are conducted in this country some of the hiccups we
witnessed on Saturday would have abated. I also believe that any subsequent
election, one coming up this Saturday and upper Saturday will definitely
improve on this. So, for that I’m quite happy.

“But having inspected the hospital wards, and I have seen young
people who are serving their nation just caught up in these dastardly act by
some antisocial elements I feel sad. These are young people in the prime of
their life. The hope and future of Nigeria. For anybody targeting the youth is
targeting the country.

“They don’t mean well for the nation. Well, in all societies we
have such people but as a government we make sure that we would look out for
them and God willing we would get them, not all but some of them. And they
would face the law,” he said.

Mr Jonathan promised that the federal government would pick the
hospital bill of the victims and subsequently take care of those incapacitated.

“For the injured the government will take care of all their
medical bills and by the time they are okay, we would look at their conditions,
the ones that are having pressure to take care of themselves, with what I have
seen government will definitely assist,” the President said.

Meanwhile, the Movement for Democratic Sustainability (MDS) has
described the outcome of elections as the clearest indication that the Goodluck
Jonathan administration is committed to delivering on its promises of
conducting the freest and fairest election in Nigeria’s history.

The non-governmental organisation in a statement in Lagos after
the Independent National Electoral Commission (INEC) announced some of the
results of the National Assembly polls, said that upsets which the elections
threw up has not only vindicated the administration, but is also a radical
departure from the traditions of past administrations that were not receptive
to changes.

According to the publicity secretary of the MDS, Afam Iheanacho, “The
transparency of the election has shamed divisive elements and
pull-the-house-down politicians who had doubted the credibility of INEC and
tried to instigate Nigerians not to venture out for the election following the
shift in the polls penultimate week.”

Praising Nigerians for their maturity which was demonstrated by the huge
number of voters that turned up for the elections across the federation, the
MDS said that “no bombing or other terrorist acts would stop Nigerians from
exercising their franchise which this administration has vowed to guarantee by
ensuring a transparent process.”

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The difficulties of maintaining bank accounts

The difficulties of maintaining bank accounts

The financial services industry has witnessed a landmark in the penetration of banking services to rural and urban areas with the introduction and migration of its payment cards and terminals from magnetic to the more secure chip and pin EMV platform.

However, despite these achievements, the industry is still faced with the challenge of encouraging about seventy per cent of the presently ‘unbanked’ population to be financially inclusive.

About seventy per cent of adult Nigerians do not have bank accounts, said a report by Enhancing Financial Innovation and Access (EFInA), an independent non-profit organisation, set up to promote access to financial services for the unbanked and financial sector development in Nigeria.

According to the EFInA report, presented in November last year, Nigeria remains largely unbanked with only 25.4 million people, representing 30 per cent of the adult population, having bank accounts.

The report also said that 39.2 million Nigerians, about 46.3 per cent of the adult population, are financially excluded, that is, have no access to financial services.

Some of the challenges that make many unbanked include the long process of opening bank accounts, the time spent during bank transactions, fear of fraud, arbitrary bank charges, among others.

Complex demands

Ganisirey Seck, MD, Ingenico (Nigeria), said she could not open a bank account on her arrival into Nigeria.

“The Know Your Customer (KYC) is all about filling forms. When I went to fill an account opening form in one of the banks, I couldn’t fill it because I was lost. They were requesting for this and that. There are challenges and we have to overcome them. About 68 per cent of Nigerians are without identity cards. We need more than one identity factor. Is there any possibility that we can be enlightened on the KYC form?” Mrs. Seck said.

She said she had to go back because she couldn’t fill the form. “I couldn’t fill anything; I didn’t understand what they were asking me, and why they were asking,” she said.

Funmi Adeoye, a song writer, said despite the fact that “I already had an idea of what could be requested, I still spent over an hour trying to open an account in one of the banks I use. I already had NEPA bills, passport photographs, international passports, and all that, yet, the time I spent trying to open that account can actually be improved on.”

Industry watchers say under normal circumstance, opening bank accounts should not be as tedious as it is obtainable. Some of the information requested by the bank include basic data details that the government should have made available to the banks if there was an existing central database for national identity.

It is probably because of the lack of this that the Central Bank came up with different policies of identifying bank customers, which may indirectly be a burden on the customers.

Just recently, the Central Bank ordered that all bank users should go to their respective banks to update their personal data.

Moving forward

Some finance experts believe the ongoing SIM registration would help address some of the challenges of customer identification in the banking industry, which has to battle with identifying its customers, especially when it comes to e-payment, mobile payment, and all the related banking activities.

“SIM card registration, a mandatory collection and registration of identity information on mobile phone users as a requirement for their owning and using their mobile phone number, can help with bank’s KYC and identity confirmation for payment,” James Agada, MD. ExpertEdge Systems (CWG’s software division), said.

According to him, the SIM card registration can help in tracing transactions related to criminals and criminal activity.

“By registering a SIM, you can know all about an individual, technically,” Mr. Agada said.

Mosh Adetoro, CEO, Qrios Networks, a specialised technology house focused on services on helping clients in the deployment and maintenance of mission-critical environments, said some of those who would have been interested in opening accounts have got no means of identification and are not literate.

“There are too many things that you ask for in KYC that makes it even impossible for them to fill and be included. This has to change,” Mr. Adetoro said.

According to him, mobile payments, using mobile devices as a means of transferring monetary value in Nigeria, may fail if the Central Bank does not step in and make this change, as it is too hectic a process for people to go through, all because of opening an account.

Know Your Customer (KYC) compliance regulation has over the years proven to be one of the biggest operational challenges banks, accountants, lawyers, and similar financial service providers worldwide have had to overcome.

The KYC compliance mandate, its positive outcomes notwithstanding, has burdened companies and organisations with an extensive administrative obligation. Furthermore, it increasingly entails the creation of auditable proof of due diligence activities, in addition to the need for customer identification.

Basically, in order to meet KYC compliance requirements, financial institutions have to verify that customers are not or have not been involved in illegal activities such as fraud, money laundering or organised crime, verify a prospective client’s identity, maintain proof of the steps taken to identify their identity, establish whether a prospective customer is listed on any sanctions lists in connection with suspected terrorist activities, money laundering, fraud, or other crimes.

Because no single form of identification can be fully guaranteed as genuine, or representing correct identity, the Central Bank says the identification process would be cumulative.

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PERSONAL FINANCE: Is your spending out of control?

PERSONAL FINANCE: Is your spending out of control?

Do you ever feel like you have lost control of your finances and all you do is spend, spend, spend? N1,000 here, N5,000 there, N25,000, N100,000 and so on. Do you constantly have to borrow money from your parents, siblings, or friends? In a way, you cannot really stop spending; there are so many payments that have to be made; your rent or mortgage, school fees, groceries, petrol, diesel, the list is endless. Whilst you can’t really avoid the essential expenses, the real problem is the money that just gets frittered away without you really knowing what it went on.

Here are a few tips that might help to get your finances under control:

Keep track

Write down everything you buy for at least a month: N7,000 for groceries, N3,000 for petrol for your car, even N200 for your daily newspaper; write it all down. You may not realise that you are spending over half of your income eating out each month. Many of us spend money casually without really thinking about it; after you have used a spending diary for a while and tracked your expenses for say a month, you will have a clearer picture of where you can cut back. A spending plan gives you the power to decide how you will spend your money. You will be less likely to overspend when your expenses are planned for.

Create a budget

The budgeting message may seem like it is over-flogged but it really is one of the most vital steps you can take to curb over-spending. Having a simple budget is one of the tried and tested ways to keep your finances in check. Set aside the money you require for your fixed, necessary expenses; groceries utility bills, loans and so on. Then estimate how much you spend outside the essentials, say on clothes, and entertainment. It is usually these variable expenses that make you overspend. Withdraw that money at the beginning of the week, and plan to make it last through the week. Determine what to allot to each category and stick to the set spending limits.

By fixing a spending limit and sticking to it, you will be much more in control of your spending. The key to the success of this saving method is that once you have spent what you have allocated to each expense category, you must make a conscious effort to just stop. As difficult as it might sound, once the budgeted amount is gone, that’s it. No more withdrawals. After the first few months, you will be able to make adjustments that make your spending pattern more realistic. Remember to involve members of your household. You need their buy in for the initiative to be successful.

Pay with cash

If you feel your debit or credit cards are leading you to spend more than you plan to, then put them away for a while and pay with cash. If you are used to making payments with your cards, using cash may seem ridiculous but it is still the best way to rein in your spending should it get out of control. When you use cards to make payments, you feel less impact of how much you are spending because it doesn’t feel like you are actually parting with your money.

With a credit card, you aren’t spending your own money so the ability to delay payment encourages you to spend more than if it was your money you were parting with right now. It is so easy to slip your ATM card into the machine without feeling the impact.

Save

It might seem absurd to suggest that you save when your finances are out of control but this is exactly what you should do to ensure that you are not tempted to spend what could be going towards saving and investing. Put aside some money at the very beginning of the month, when you receive your salary. Automate the process so that your current account is debited at source and the funds are moved directly into a savings account. Once you have reached an initial goal of having an emergency fund of say six months of expenses safely set aside, you can begin to save for other goals. A direct debit from your current account to an equity fund is a painless and effective way to invest towards your long-term goals.

We all love to shop. It seems to be woven into the very fabric of our society. There is nothing wrong with a little shopping from time to time but when your spending gets out of control, it can destroy finances, relationships, even lives. Financial hardship and debt don’t just happen overnight. It takes time to run up unpaid bills, to default on loan repayments, to constantly buy things that you don’t need. If you are focused and disciplined about getting your finances in order, you will soon be back in charge of your financial future and can enjoy the sense of satisfaction, fulfilment and satisfaction that this brings.

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