Sunday, 11 March 2012

$aving$

In a financial market that is at the best very unstable, many people are being very cautious with their money. They are also being very cautious with their jobs. Most people don’t want to take risks and I must admit I don’t blame them. However, even in troubling financial times there are still a few low risk ways to build you wealth and the one of the safest and easiest is savings.



While most people dream of being rich, they often miss the basic principle of saving money. Those who dream of having a fortune go out and spend up big to look like they are rich. However, once the money is gone, they have to go back to work to earn more. They have not realised the fundamental principle that if you can’t save money you will never be rich.


Before we go any further let’s clear up a misconception first about money. Most people believe that those that earn more money save more money. This is not true; in fact it is almost the opposite. The people that earn large sums of money fall into the trap of believing that their money will always be there, so they can save money at another time. So they either save only a little bit, or they save nothing at all.


The amount you earn has nothing to do with the amount you save. It has everything to do with your attitude towards saving. No matter how much you earn you should be prepared to put so much away on a regular basis.


The main problem is no one has ever been trained to save money. There are no formal training sessions at schools about the importance of saving. In fact we are actually trained to spend money. So changing someone’s attitude towards savings can be very hard.

The best thing about our modern world is that the ability to save is even easier than ever before. Most financial institutions will help you set up a savings account. They will also help you to automate your account so that all of the hassle is taken out of the equations. If set up properly you have your savings taken out of your bank account when you are paid and put straight into your saving account. You will never miss the money.


I have done this for my own account. I have set up a few savings accounts, one for bills, one for investments and one for holidays. Every payday money is deposited into those accounts automatically. It gives me great peace of mind and I know that not only am I saving but I am earning interest as well.


Now you need to do the same thing. You need to visit your financial institutions and set some savings accounts that are suitable for you. Don’t make excuses either as to why not to do it. Get out and do it today. It doesn’t how much you save, as long as you save something. Make today the day you start moving towards you financial freedom.

Terry Shadwell


For a long while I had my own blog. I havent put much up of late but will be doing again with all of the new articles I have been writing. Check it out at http://terryshadwell.blogspot.com.au/

1 comment:

  1. Very good point about earning more and saving more.

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