Instead of posting a Video of myself talking about saving money, I'd rather share the spot light with others who have made great strides in saving. However, the tips listed below are my own.
I truly want people in my community to stop making other communities rich. That way there would be less complaining and more enjoyments in our community. "You can give a man a fish and he'll eat for a day but if you teach a man to fish he'll invite you to dinner".
—Statistics show that the national saving rate is negative in the mid 2000’s in America.
--10%-20% is what is recommended to be saved from our income, monthly.
--Proverbs 6: 6-8 : “You lazy people can learn by watching an anthill. Ants do not have leaders but they store (save) up food during harvest season. How long will you lie there doing nothing at all? When are you going to get up and stop sleeping? ” (L.E.V)
Money Saving Tips
- You can set up a direct deposit and an automatic transfer to your savings account.
- If you have a checking account, you can sign up to have some money transferred into your savings account every month. (What you don’t see, you don’t miss).
- Pay your bills on time. This saves the added expenses such as; (1) late fees, (2) extra finance charges, (3) disconnection fees and reconnection fees for services, etc.
- If you get a bonus from your employer, save the extra money.
- If you have paid off a loan, keep the monthly payments to yourself. You can save or invest the money for your future goals.
- When you get tax returns, save as much of it as possible, or use it to pay a loan and enjoy yourself later.
- Consult with your Financial Adviser or Life Coach who experienced in designing a savings plan specifically for you.
- Find creative ways to generate more assets and minimize your liabilities. If you are unsure, hire a Life Coach that specialize in finance or business.
- Remain patient and content, it is the Turtle who won the race with the Hare.
- Don't purchase things that don't hold value. Think about the resale.
- Use Cash to make casual purchases, limit debit and credit card purchase to bill pays only.