Be it naira, dollar or pound; money is a serious topic regardless of the currency and the handling of it can make one a success or failure financially.
I’d like to share today on a financial principle so simple to ignore and yet so powerful that it can change lives, organisations and nations.
It is “saving” and I am sure you would say, “I knew that already.” Yes, it is something we hear about and even know but sometimes fail to ACT on it.
Sticking with personal finance, as an individual whether you work or do business, having a savings culture can make you turn out either as success or failure.
We have different schools of thought as to the percentage of one’s income to save. Ranging from 10% to as much as you can. Whatever you decide, ensure you are sticking to it.
Don’t save after spending your income but you should spend after making your savings.
We all have life demands, family responsibilities, bills and all that require sorting financially. But don’t get caught up in it that you end up not saving.
Savings can be done for different reasons ranging from projects, academic pursuit, investments or as buffer against the rainy day.
Savings can be as little just one dollar or 10 dollars a day but money accumulates just like droplets of water.
So don’t just live from pay check to pay check and neither should you spend impulsively. Regardless of how much you earn, start today, draw up a budget, save and make that change in your finance.
If you’ve been blessed by what you’ve read, don’t shy away. I will love to hear your thoughts, please use the comment box below and don’t forget to share this article with your contacts.
You are making progress!