Do You Find It Difficult To Save Money?

The Ultimate Technique To Save Money

I had earlier shared with you that the secret to create wealth is to start early to save money and invest it properly and regularly. However most people find it really difficult to save money. Every month after paying for groceries, telephone/electricity/fuel/credit card bills, children’s school fees, EMIs etc, they realize that they are left either with very less money, no money or worse in negative i.e. their income is no longer able to cop up with their expenses. So how can one save in such a situation? What can one do to save money? So today I am going to share with you the ULTIMATE TECHNIQUE TO SAVE MONEY REGULARLY. However, before I do that, I will first like to share a possible solution for those people who often find their expenses exceeding their income most of the time. So folks if you find yourself in such situation, there are only two ways to handle this situation, either you find ways to raise your income (like find a better paying job) or cut your expenses. And from my experience, I can tell you such situation has more to do with the expenses than the income.  Why I Say so. I say so because both saving and spending are habits and both are directly related to attitude and behaviour. So I strongly suggest that you sit down, note down your expenses on regular basis, analyze and cut your expenses wherever you can. You may be spending either too much on outings, parties, entertainment, fuel, mobile bills, expensive clothes or gadgets and so on. You may find it difficult in the beginning to cut your expenses. But if you are truly committed and you put your priorities in place, you should be able to do it. You have to prioritize whether you want instant gratification (which is often short lived) or the long term financial stability and security for you and your family. There is no other way than to prioritize your priorities if you are really looking for having long lasting wealth and financial success in your life.

Now comes the ultimate technique to save money. Listen it very carefully. PAY YOURSELF FIRST. Yes! You read it right. Pay Yourself First. What does it mean? Very simple. Before you pay your bills, your children’s fees, your EMIs and so on, Pay Yourself First. Before even you touch your salary or income, let a particular fixed amount go to your long term savings and investments. Let me explain. Let’s say you decide that you want to save 10% of your income every month and your income is 25000. So before you start spending 25k, take 2500 out of 25k and put it into your long term savings and investments whether it is PPF, Mutual Fund or any other instrument wherever you are doing your investments. But MAKE SURE YOU DO IT. And you spend the rest 22500 without any worry or guilt. This way you should be able to meet your saving targets.

I am sure if you adopt this technique, you can’t go wrong as far as saving money is concerned. Remember this is the first step towards financial success and having enough money in your life. So make sure YOU DOT IT.

Happy Saving!

Be Smart & Intelligent With Your Money.
Your Life! Your Money! Your Way!
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Fee Free To Contact You Financial Coach At Satinder@yourmoneyyourway.in To Help You Take Charge of Your Personal Money Matters & Put in Order.
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