Simple ways to start saving!
The hardest thing about saving money is just getting started with it…
Sometimes we even fail to plan our short-term and long-term goals or keep track of our expenses, you treat your credit card as your income, we are somehow unable to maintain our savings account as desired. For that, we have to be financially literate and we should stop spending more than we earn. So, how can we do that?
By focusing on these simple ways to start saving…
- PLAN YOUR BUDGET NOW !!!
- STOP TREATING YOUR CREDIT CARD AS YOUR INCOME
- CONSOLIDATE DEBT
- INVEST IN QUALITY
- FIND WAYS YOU CAN CUT YOUR SPENDINGS
- SET SAVING GOALS
- PICK THE RIGHT TOOLS
- WATCH YOUR SAVINGS GROW
The richest Man In Babylon
This book is written by George Samuel Clason. This book provides you a detailed process of how the people of Babylon (One of the richest cities in the ancient world) used to save and invest.
The process is indeed very simple.
- PAY yourself first – pay 1/10th of your income. It will help to automatically route the specified savings contribution from each paycheck at the time it is received.
- Control your expenses- Plan your expenses in such a way that it is equal to 7/10 of your income
- Invest your money, it will attract your money – Keeping those two steps in mind you can invest your money in a business venture in such a way that money multiplies itself. This way your purse of gold or money will be fattened and you will start to feel relaxed.
So it is well said that drop by drop we can create an ocean of wealth. What is your view on that?