Save money and one-day money will save you. Saving money is a habit and you must form it. Saving once or twice won’t suffice in the long term, you must save each time you get paid.
Why Save Money?
I ask myself why save money anyways, who has seen the future and why should I worry about it now? The only answer I can think of is in the question, nobody knows what the future holds but I do know having some money saved will definitely simplify and smoothen the ride.
Here are my top reasons for saving money
- To be financially independent (you can read here what that means: Steps for Financial Freedom)
- To have options to retire from 9-5 job
- To use money as a tool to live and enjoy life against living life just to make more money.
How do I (and you can too) save more?
Saving money is a habit that one must form and continue life-long. I have had problems forming that habit but I used the below tactics to form the habit.
- Open a savings account: This account is just for saving money and not for spending money unless it’s an emergency
- Cut the paycheck: you must put some percentage of your salary into the savings account
- Learn from the past: look at your past expenses and learn how much you need for necessities, put that in a spending account and the rest goes into savings
- Learn about investing: Saving is the first step of financial education next comes investing. (You can read my posts here: Get Financially Fit)
Top 10 Quotes on Saving Money
Here are some of the best quotes I came across on saving money. I use these quotes as a reminder that I am the only person responsible for my financial growth and nobody else.
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Start your emergency fund today, you can read more about why here Emergency Fund; A way of worry free life. (What, why, and how)
Read the best books on money, Best Books on Money Management
Conclusion
You hold the power to change your financial future every time you earn a paycheck. The best two things you can do with that money are SAVE and INVEST.
Understand your needs and spend on those needs, save and invest the rest.
If you want to read why do we take bad decisions about money and how can you stop doing that then read the book: The Psychology of Money: Timeless lessons on wealth, greed, and happiness
