Most people have a weird connection with money. By that I mean that they can't handle them properly . How many times have you wondered what happened to the money I had in my wallet? You thought you should have more but the wallet or the bank account sadly doesn't lie. Before you think that I am going to tell you to stop spending that much I am going to say that this is not the solution either. You may have noticed that when specialists mention saving money they say that you must have a plan. The truth is that this is the only thing needed in order to have some money on the side for an emergency or , wait for it, for an opportunity
In order to make a plan like this you don't have to be able to get a Nobel prize at economics. Common sense is more than enough. The train of thought for it may look like this:
a.I earn x amount of money monthly minus your standard expenses i get a lets say y number
b From y I remove z amount of money each month and put them into a separate bank account (or another way of saving which you may choose) and I wont touch that money except for very special circumstances. With the rest I can do whatever I want. By choosing a percent of your earnings instead of a static number you keep this part flexible by fluctuating the money your savings according to the money you earn.
It seems simple and it is.Many say this same thing because it works. You just put this personal mental barrier and you stick to it.Even by choosing to save a small amount monthly in the long run you will get a big number.Just do the calculations and see for yourselves.
Some last pointers: 1)Avoid debt and 2)It is obvious that you can divide the z to saving(safe) and investment(a bit riskier).You just apply the above to two things instead of one.Don't forget money makes more money
In order to make a plan like this you don't have to be able to get a Nobel prize at economics. Common sense is more than enough. The train of thought for it may look like this:
a.I earn x amount of money monthly minus your standard expenses i get a lets say y number
b From y I remove z amount of money each month and put them into a separate bank account (or another way of saving which you may choose) and I wont touch that money except for very special circumstances. With the rest I can do whatever I want. By choosing a percent of your earnings instead of a static number you keep this part flexible by fluctuating the money your savings according to the money you earn.
It seems simple and it is.Many say this same thing because it works. You just put this personal mental barrier and you stick to it.Even by choosing to save a small amount monthly in the long run you will get a big number.Just do the calculations and see for yourselves.
Some last pointers: 1)Avoid debt and 2)It is obvious that you can divide the z to saving(safe) and investment(a bit riskier).You just apply the above to two things instead of one.Don't forget money makes more money
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