If an individual is disciplined enough the ideal situation or mindset would be to cut as much as possible spending and expenses budgets to facilitate higher savings possibilities. This of course is by no means easy, and most of the time it fails to materializes in a disciplined fashion, that is consistent over a long period of time. (Author Unknown)
Saving for the future is not that easy. It is a habit that must nurtured. I am still grappling with how to save money for retirement or for a particular project. Money will never be enough. Thus, we have no option but to learn how save. I found the following helpful as I try to save money;
- Use saving method that ensure such savings are done in an unwavering and committed fashion. Saved money should not be accessed easily.
- Identify and cut unnecessary expenses. This may not be easy. Be consistent.
- Money spent on identified unnecessary expenses should be channelled into saving.
- Identifying the monthly expenses and breaking it down in a very realistic and committed fashion to identify expenses that can be eliminated or down sized.
- Be realistic. Do not be pressured to save for the future, while not being able to enjoy the present.
- Seek services of competent professionals in legal, business, accounting and finance fields.
- Let me learn from you, what saving method do you use?
Savings advice from Proverbs 21:20 Three Translations
KJV – There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up.
ESV – Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.
NLT – The wise have wealth and luxury, but fools spend whatever they get.
Awesome tips on saving. One cardinal thing that has helped me is distinguishing always between my wants and my needs. It’s some principal that has everything laid on it. Failure to identifying that it will result in the opposite.
So personally that is the base of it all when it comes to issues patterning to saving .
Thanks. We learn everyday
ADDING ON HOW TO SAVE MONEY FOR FUTERE USE. We should also Spend our extra and unexpected income wisely, and say goodbye to dept.
Thanks you for sharing your experience