Have A Savings/Investment System

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People who spend all their income do so mainly because they have not put in place a savings or investment system. They will keep coming up with new things to buy and ways to spend all their income until they deliberately put in place a savings/investment system.

A savings/investment system is simply opening a dedicated savings or investment account and making regular contributions to the account. It helps you achieve three important things:

1. Savings/Investing Habit. That you consciously put money away, no matter how small, into a dedicated account for savings/investment will make you more conscious of the benefit of saving and investing. It will bring it to the same level of subconscious attention buying new things you want currently get. And in the end, you will always see more opportunities to save or invest.
2. Grow your Savings/Investment. The biggest growth your savings/investment will see are from you. If you put just 1 NGN in an investment account, even if the investment grows to 10,000%  return, you will still not have as much as you would have had if you kept putting in the 1 NGN every month (even for a much less return on investment). 
3.  Benefit from Time Value of Money. Interest, to be less technical. Albert Einstein put it in a very wonderful way, "Compound interest is the eighth wonder of the world: he who understands, it earns it; he who doesn't, pays it." And I can attest to that. Have you noticed how your pension account balance always seem to be growing impressively? Mine is. I haven't contributed to it since 2014 and every month it is adding up some impressive sums. And that's what happens to all your savings/investment, they can potentially grow by themselves. Compound interest is a great thing, and like Einstein said you should make use of it.

It might be difficult to start for people with not enough earnings or lots of family responsibilities (relative to income). That's life. You only have limited options to pick from. And in all cases, opening a savings/investment account is among the most beneficial options. Even if you don't put in something substantial in it. Just for the sake of the first (habit formation) and last benefit (compound interest), it is still very worth it.

I have a terrible savings habit. In fact, I don't save. So investing has been my only way of saving. So regardless of your excuse (risk averse or hate saving), either savings or investment will always work for you.