If I only had a monthly income of $100 (XAF 50,000), here’s what I would do.

How to turn the little you have into an ever-growing financial story!

by Sylvie Tamanda

The oldest excuse in the book for people who are living on tight financial budgets is that they don’t have enough earned income, so they cannot save. And because they cannot save, they don’t have the capital to start a business either.

So, I wrote this post for anyone who has an income of $100 (XAF 50,000) in order to give them advice on how to turn the little they have into  an ever-growing financial success story!

If I were in your shoes, here’s a step-by-step plan that I would follow:


1. Start small but smart.

Begin by saving and budgeting wisely. Think hard about areas where you can cut unnecessary expenses and save 5% of your income every single month without fail. Building a strong financial foundation starts with good money management.

Read more: How She Started Her Business At 19

2. Invest in Education

Knowledge is a powerful tool for wealth-building. I love spending my money on personal finance, investing, and entrepreneurship books. I read a lot of blogs like Business Insider, Forbes, CNBC, Entrepreneur, How We Made It in Africa. And instead of wasting time and internet data scrolling useless posts and comedy, follow financial experts to expand your understanding and attend as many workshops as possible. YouTube has everything you need!


3. Embrace the Power of Investing

As your savings grow, explore investment opportunities. Don’t rush to buy the latest iPhone on the market or a new pair of trousers. Instead, put that money into something meaningful. Turn every penny you have saved into a money soldier and send them out to work for you. The way I did it was to start with low-risk investments like stocks, mutual funds, or index funds. Make sure to diversify your investments to spread the risk and potentially increase your returns. You might find this article about How to Trade Stocks on your own. Buy stocks online for beginners  particularly interesting

For more enlightenment, you may also read:What  the Bible says About Investing and Building Wealth?

4. Leverage compound interest

Don’t choose when to save; instead, do it consistently. In fact, save before you spend. It was the richest man in Babilon who said “Pay yourself first”. Put that money into an interest-bearing account or project, and stay clear of unnecessary risks. And when you earn interest or make a profit, don’t rush to reward yourself with a new show. Put that extra money back into whatever earned you the money in the first place, and watch the power of compounding work magic for you. Compound interest allows your money to grow exponentially as you reinvest the returns you earn.

Read more : How I started my business at 22 and doubled my capital in 18weeks


5. Explore Entrepreneurship

Whether we like it or not, being an entrepreneur is something every single person on the planet should be doing. You know why? Because having a business of your own should be as simple as expressing your passion through the production of goods or the rendering of a service. And if done in a way that adds value, the marketplace will definitely reward you. So, consider starting a small business or side hustle. Utilise your skills and passions to create additional streams of income. Entrepreneurship can significantly boost your financial growth. Don’t let a capped salary hold you back!

Read more Million dollar Business Opportunities for African Entrepreneurs.


6. Network and collaborate

This is my favourite thing to do. Infact, RebertKiyosaki, the author or “rich dad,poor dad ” once said “The richest people in the world look for and build networks, everyone else looks for work.” And the bible says  in Ecclesiastes 4:9-12 “Two are better than one because they have a good return for their labor. If either of them falls down, one can help the other up. But pity anyone who falls and has no one to help them up. And Proverbs 27:17 also says  “As iron sharpens iron, so one person sharpens another.”

Therefore, surround yourself with like-minded individuals who share your financial goals. And network as heck, because it can open doors to new opportunities, partnerships, and valuable connections that you never could have dreamed of.

Read more : The Power of Interpersonal Skills in Professional Growth


7. Be disciplined and patient.

Discipline if one of the most important ingredients to living an extraordinary life.  And in the Bible, patience is persevering towards a goal, enduring trials, or expectantly waiting for a promise to be fulfilled .

Do not be in a rush too see fruits on your mango tree. You have to trust the process. Just a seed takes time to grow into a forever fruitful tree through nurturing and patience, so does wealth creation. Building wealth takes time and discipline. Stay patient and avoid impulsive decisions. Consistency and perseverance are keys to achieving long-term financial success.

Read more: 11 Money Mistakes to Avoid in Your 20s


8. Stay updated and adaptive.

This particular point is one that must be drilled into the minds and hearts of people who are struggling economically. And the reason is because my personal experiences have shown that people who need the most education prefer to spend their time, energy, and internet data on irrelevant content. If you want to grow your income from $100 to unlimited, you must keep an eye on economic trends and changes, not what your favourite celebrity said or wore to the Oscars. And as you stay on top of financial trends, you also must be willing to adjust your financial strategy when necessary to stay ahead of the game.

Read more : The Only True Friends that will help you grow?


9. Reinvest profits wisely

Before I knew any better, I was one of those who fell into the temptation of spending money. I did not have to please the people who really didn’t give a damn about me. This keeping up with Jone’s attitude is sadly the reason why most people who are supposed to be charity cases are looked upon as rich. Why? because we spend when we have some extra cash, not because we really need to buy that new shoe or dress, but because we want to show off. Some of us don’t even realise what we’re doing! However, the extra money from your investment should not be spent lavishly. As your wealth grows, resist the urge to splurge. Instead, reinvest your profits strategically to fuel further growth.



10. Seek professional guidance

There’s something powerful about humility. And that is the fact that it forces us to acknowledge where we fall short and to seek guidance from others who may be more experienced or knowledgeable. So instead of trying to figure everything out on your own, the easiest thing to do would be to consult a financial advisor or work with a business coach. Their expertise can help you make informed decisions and create a personalised roadmap to success. As a business coach myself, it is always a delight to work side by side with individuals who seek to start a business or grow an existing business. And the feedback I have gotten so far has been very empowering and humbling.

Read more: Business Coach Vs Business Analyst

To conclude this article, I want you to remember that transforming your financial situation requires determination, dedication, and a growth mindset.

You have to be open to learning, adapt to challenges, and celebrate each milestone along the way. If you follow the 10 tips mentioned above, I promise you that you will have the power to turn your initial $100 into a flourishing financial future for yourself and your family!


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