Six simple ways to get out of debt

Not being able to meet your financial obligations can make you decide to borrow to pay later and borrowing can make you run into huge debt. Here we will discuss some tips to help you reduce accumulated debt.

It is possible to pay up your outstanding debts by making conscious plans and efforts to achieve debt reduction.

Debts have a way of piling up fast and accumulated debt has some health impacts that can be very harmful. It can lead to emotional stress, increased blood pressure and general sadness.

These are six simple tips that can help you reduce debt or completely get out of debt:

Say no to more borrowing

If you are really serious about getting out of debt, the first step is to stop borrowing. Make deliberate effort to stop. You can achieve this by looking for more opportunities to earn money such as commercializing a skill that you are well known for such as: cooking, singing, content writing, consulting, fitness coaching, video blogging, website development and many more. All you need to do is sharpen your skill and make it good enough for customers to consider continuous patronage.

Highest to lowest interest rates

When paying off your debts, make a list starting from the loans that have the highest interest rates to the ones with the lowest interest rates. Think of ways you can work towards reducing the interest rates and gradually end the debt repayment and break free from the debt cycle.

Read Autobiographies of Billionaires

You can get really inspired on how successful business leaders got to where they are by reading their autobiographies, their own written accounts of their life. You can learn from their principles of wealth creation and apply it.

Develop a saving culture

No matter how little income you make, try to have a habit of setting aside some savings. This is always helpful during the rainy days. A culture of saving, when cultivated, can go a long way to help you live within your budget or means.

Have an emergency fund

It is a good thing to have an emergency fund so as to have where to get money in cases of emergency. You can have an insurance cover against certain unforeseen situations that might come up and require money.

Sell off unwanted things

If you have some valuables that are not so needed at the moment, selling them off to come out of debt is worth considering.

You should find these few tips helpful.

To enjoy a peaceful debt free life make continuous effort to avoid habits that can cause you to incur debts. Think of alternative sources of income and never try to impress anyone. Learn the principles of financial freedom and always apply them.

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Gov El-Rufai releases proposed 2017 budget


Governor of Kaduna State Nasir El-Rufai at a town hall meeting on the proposed 2017 budget outlined the major objectives of the incoming fiscal year. The Newsghost brings you details of the proposed budget as outlined by the governor at the meeting that held at Murtala Square, Kaduna on October 8, 2016.

The Kaduna State government under Gov El-Rufai in line with its earlier tradition of holding town hall meetings on budget proposals prior to presenting the draft to the legislature for appropriation has continued the trend this year by subjecting the draft of the 2017 budget estimates to debate at a town hall meeting.

According to the governor, such rich interactions showcases what citizen engagement can achieve.

El-Rufai noted that cogent and coherent recommendations at the last town hall meeting on the 2016 budget led to the insertion of new capital projects that increased the budget by as much as ₦2 billion.

Motivation, concerns and objectives of the El-Rufai administration

Governor El-Rufai noted that his administration since its inauguration in May 29, 2015, has been guided by the ‘restoration programme’; the Kaduna State-specific version of the All Progressives Congress’ national manifesto. He said the ‘restoration programme’ prioritized education, health, agriculture, infrastructure, jobs and security, saying each one of the programmes were a product of research that indicated that these were the problems of everyday life that conspired to hobble Kaduna people, perpetuate poverty and inflict severe loss of self confidence that become epidemic across the north zones of Nigeria.

El-Rufai noted that re-calibrating these social and economic sectors in the interest of the people is what informed the 2016 and the proposed 2017 budget.

He highlighted that his government embarked on an aggressive campaign against fraud and waste, and also exerted control over public finances by implementing the Treasury Single Account within weeks of coming on board.

He also said his administration introduced the zero-based budget paradigm to ensure that the state budget was anchored more in reality than the fictographic fantasy that the incremental budgeting system had become.

Estimate and objectives of the proposed 2017 budget

The Kaduna State draft 2017 budget stands at ₦189.9 billion. ₦17 billion higher than the 2016 budget.

El-Rufai explained that his administration has decided to increase the budget to spur economic recovery despite fiscal shocks occasioned by declining revenues and a contracting economy.

The key objectives of the budget are promotion of jobs,social injustice and prosperity. The governor explained that this will be achieved by retaining the pro-poor orientation of the 2016 budget, supporting farmers and communities,improving infrastructure and promoting the private investments.

In the proposed 2017 budget education, health, agriculture and infrastructure will take the lion share of the capital budget.

On education, the Kaduna government says it will continue its signature programs to expand access to education through free education for the first nine years, improving nutrition of primary school pupils through the School Feeding Programme, rehabilitating schools and facilities and improving the capacity of teachers. The government also says it intends  to embark on total reconstruction of public schools to prepare them to better handle increased enrollment and the expected surge in the numbers of school-age children that has been projected for the next decade.

The governor says the health sector will see continuous improvement of primary, secondary and tertiary health care facilities. He also added that his administration will continue to attract investments from the state government and international partners in order to tackle infant and maternal mortality and ensure better health for people of the state.

El-Rufai highlighted that his administration was able to deliver fertilizers without the usual subsidy that was hitherto associated with the system, and intends to achieve the goal of making fertilizer available all year round.

The government intends to complete the Zaria water project by June 2017, build more township roads, ring roads and advance on the rail based mass transit project.

Gov El-Rufai added that his administration has been able to attract big ticket private investments to the state in the agricultural sector.

He concluded that the state government will build access roads to known mining sites, support artisanal miners and further explore the mining assets in the state, as increased activity in the mining sector is expected.