Save Money and Money will Save You.

Knowledge is power.Power you can use to change your world and the world around you by extension.Consider yourself as an investment and think about how you can add to your networth on a daily,weekly,monthly and yearly basis.

Pixabay.

Before we can talk about adding to your networth you should consider plugging up all the holes in your ship or else you would sink from the water that is constantly being collected through the holes in your ship and is drowning out any dreams of a better life you might be looking forward to in the future.

Those holes that needs to be plugged as soon as possible so as to enable you arrive at the shores of your full potential safe and sound are DEBTS.With the rising cost of living,it is totally understandable for people to deplete their main source of income before the month runs out leaving them with no other option than to borrow to foot their daily bills

People also run into debt simply because they play too much by that i mean spending their earnings drinking costly wine,foods,staying in expensive hotels,buying expensive cars,gadgets,jewelry or sometimes going out of their way to impress people with their glamorous lifestyle much to their own detriment.

Too many people spend money they haven't earned,to buy things they don't want ,to impress people they don't like.- Will Rogers.

How to stay out of debt isn't something that is taught in school.It is something we have to figure out for ourselves and incorporate into our life and once it is done right would put us at an advantage.We can also teach our children the value of money by encouraging them to keep a detailed log of their spending habit.

One family where this practise is kind of like a law passed down from one generation to the other is the Rockefellers.John D.Rockefeller taught his children to save,invest and be accountable for every penny they get.That is why the Rockefeller family name is still synonymous with wealth even today.

I believe cultivating the discipline to keep at least 10% of your earnings into a saving account and cutting down on the money we spend on recreation is one of the ways we can secure a good future.We have it good here on Steemit where in the guise of powering up our steem to increase our upvote value we are inadvertently cultivating the habit of saving.

Small forced savings every month

can lead to huge magical returns a decade after -Nirmal.Jain.

Keeping a budget and not spending on impulse is another way to stay out of debt.

To end this post remember that :

Rich people stay rich by living like they are broke.Broke people stay Broke by living like they are rich.

Ofcourse you should spoil yourself silly from time to time with a nice car,change of wardrobe,fine dining,expensive vacations.Only if you have amassed enough fortune that spending it doesn't make a dent on your bank account and the things you buy doesn't become a huge liability to you going forward.

Thanks for reading.Stay tuned for more awesome blogposts.Cheers

 

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Posted from my blog with SteemPress : https://badmusgreene.xopus.io/?p=197

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