Most of us ignore the value of saving because of the lack of knowledge on how to do it.
In contrary to what have been impressed on our mind that we can't save because our earning is too small or just enough to suffice our needs, that we still have lots of financial responsibilities to address to, that we are in the midst of financial crisis; this article will surely help you on how to find a way to surpass all these challenges and become a saver.
An excerpt from the book - Simplify And Live the Good Life by Bo Sanchez.
You lazy people can learn by watching an anthill. - Proverbs 6:6
Here are a few great ways to save up for your future and become good stewards of your resources.
1. Automatic Savings
If you can arrange this with your employer and/ or your local bank, you can ask them to regularly set aside a certain amount of your monthly salary for your savings - before you ever see it!
2. Save Your Raise
If your company gives you a raise, allot that additional amount to your savings account and live within your old paycheck. You'll see the fruits of this, even just after a year!
3. Keep Paying Loans After the Loans Are Paid Off
You've finished paying off the amortization of your car? Or the housing loan? Or that credit card loan? Good. Keep sending the same amount, not to the creditors but to your savings account!
4. Hold On to Unexpected Cash
Receive a bonus? An overdue reimbursement from the office? A cash gift from Mom and Dad? Keep this in your savings account - not in your wallet - because all wallets have invisible holes and money kept in them has been known to vanish within 24 hours.
5. Give up Expensive Habits
Imagine what you will save in one year if you give up smoking, buying Lotto tickets or eating an extra snack(that's not helping your health anyway).
6. Sell Assets
You'll be freer if you sell all the clutter in your home - stuff that you no longer use! Liquidate. Get rid of that stuff.
No comments:
Post a Comment