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Money feels good when one is in possession of it. You don't wanna be that person that makes money today but can't tell how you spent it tomorrow.
Avoid being an over money spender. Try your best to make some savings today and secure tomorrow.
The secret of the richest men of all time is the power of savings and investment. Of course you need to save if you want to invest. To save money alone is to solve the need for a particular purpose. But to invest is to make more money.What am saying in essence is that you don't have to only save money for future but try to invest it right.
After doing the following you can be able to save your money for that investment ,that is why I will be talking about SAVING TIPS.
SAVING TIPS
- Don't spend on your wants, but rather spend on your needs
- Make a budget plan
- Avoid any risky business
- Have a different savings account
- Don't ever apply for the issue of credit card (ATM card)
- Have a personal account manager for that account
- Cut off extravagant lifestyle
- Don't always squander the little you have.
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Don't spend on your wants but on your needs:
Its important to avoid spending on unnecessary wants. Its good to curtail that lifestyle. Mark out your budget and identify your needs not the wants.
Example:you dont have a bicycle and you would like to get one, but you have an important class test tomorrow but you Dont have the materials to read for the test. As you can see the bicycle here is the want while the material to read is the need. It's important to go for the material to read and pass the test because that's your future.if you don't buy a bicycle today you can get it tomorrow but if you miss your test today you have missed it forever.
Make a budget plan:
To save your money , you have to make a budget plan for the things you need for a specific time. It directs you to manage your spending. When you make a budget plan it guides you a lot. It reminds you not to spend foolishly. You may have a budget plan of spending 400$ on buying kitchen utensils and items. When you reach the market and saw a beautiful iPhone, you have to leave it, you Dont have to use that money on it or to also purchase another thing other than your budget plan.it serves like a reminder and a guide.
Don't engage on any risky business:
Yes , its very crucial... You should avoid risky business that can make you loose your money. This kind of risky business is not meant to be invested on.
Example of some risky business are: gambling, sports betting etc. Be carefull about that because once you start spending on it, you have started cause you will want recover the ones you lost and at the same process you keep on losing.
Have a different savings account
To save money, you need to have a different savings account for the money you want to save for future. Don't ever tamper with the account. Regard the account as a lost account. Leave the account for long time until you get the need of using the money for either investment or for a particular purpose.
Dont apply for a credit card for that account:
After you have opened another account for special savings Dont ever ask for credit card to be issued to you for withdrawals. This is important because it will definitely be very difficult to withdraw the money when you are tempted to do so.not having credit card at hand will make not to think about withdrawing always.
Have a personal account manager for the account:
To save your money,, you need to have a personal account manager to keep track on your account. Even when you will request for withdrawal, he/she have to know the reason why you want to withdraw and if it is not good reason, he/she will deniy the request. Thus making the money to be very safe.
Cut off extravagant lifestyle:
Lifestyle involving too much lavishing of money should be avoided.
Example: attending parties, night clubs, drinking, chasing girls. Am not saying that they are bad, but should involve doing them when necessary.
Don't always squander all you have at hand:
You should not lavish all that you have at hand. You have to save some for unexpected need that might occur tomorrow or deposit it in that different savings account. after all it will add some value to the money inside there.
Example: you might have planned to spend only 50$ on shopping today, but you realized later that your money still remain 15$ after all purchases, you don't have to spend that balance on another thing because you have planned to use 50$, instead you can decide to save that 15$.