The year is almost coming to an end. What do you have to show in your bank account or investments this year? Yes, you may not be earning much but go to the nearest slum area and see how people you hardly think they would own a ‘house’ or bicycle have progressed. It’s all an issue of mindset.
If you have put your heart and mind to achieving something, you will get it. It may not be smooth-sailing but you will have made positive strides by end of a period that you will have set as target for yourself.
If you haven’t achieved anything this year, all is not lost. Start saving today and trust me, you will have something to show by end of next year, no matter how small–it’s such a great feeling.
If you’re like most people, the thought of saving money conjures up thoughts of endless budgeting that denies you enjoying the fruits of your labour now. What if I asked you to challenge your perceptions about saving? Let’s consider some of the most popular but wrong thoughts many people have about saving.
Are you one of the “I could be dead tomorrow so let me spend today” group? While I don’t have a crystal ball to predict your individual lifespan, I do know that our life expectancy is getting longer especially the more you earn.
Then perhaps you may say that you won’t be dead tomorrow but you just earn enough to scrap through from one month to the next so how can you think about saving for the future?
And besides, any amount you can spare is so small it can’t possibly amount to anything, can it? Well, I must disagree. Actually, you would be surprised what saving small amounts can amount to over a period of time.
A good time to start saving is never later. First of all, you can be sure that something is always going to come up that can prevent you from setting aside money.
So first, you need to identify your opportunities for saving. Obviously, surplus money after expenses is a prime candidate. But changes to your spending habits may provide additional savings as well.
The longer you wait to start saving, the more it will cost you in a big, big way. The K1 saved and invested today will be worth a lot more in 20 years than the K1 saved a few years down the road.
Look at saving and investing as an exciting means of getting the most out of what you earn so that you can accomplish what you want. Whatever spending you deny yourself today will be there tomorrow when you most need it.
Blessed weekend to you and yours as you make the resolution to start or increase your savings. Remember, age is catching up with you and your children are growing as well as their needs. That saving may save you tomorrow.