BS Session ‘’What you need to know about savings’’
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Savings is one way to prepare for the raining day, but no one ever became rich from savings. Don’t just save for saving sake, save so you have to invest when the opportunity arises. #DeepThinking
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There seems to be some perverse human characteristic that likes to make easy things difficult. Most people will rather do the hard things than do the easy things whereas it’s the easy things done that enable us to effectively do the hard things. Most people have been schooled wrong about savings. You already know that you must save what is left after investing not save without investing. Have you ever had a hundred thousand in your account for a period of six months? Notice that after six months the hundred thousand will not be complete anymore.
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Savings, remember, is the prerequisite of investment. Saving entails sacrifice; maybe that's why it brings rewards. Those that save always have. If tomorrow you face a problem -you lose your job or your business, you know you can survive until the situation improves or you start another business, this time with firm foundations. However, those that do not save find themselves in a precarious situation. Save money and money will save you when you make wise investments with the money you saved. Most people make bad investment with their savings. No one is rich whose expenditure exceed his means and no one is poor whose incoming exceeds his outgoing.
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I encourage people to save so when opportunity to invest comes they can but not just to save for saving sake. Because savings left on its own will never yield enough interest that can make you rich. There are three basic kinds of income, earned income, portfolio income and passive income. Savings from earned income, can give your access to build portfolio and passive income. No one ever became rich by savings but you can build your wealth when you save and use your savings to make wise investments.
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Three things you need to know about savings
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- Savings not invested doesn’t grow on its own. It still remains how it is
. - Savings gives you opportunity to maximize opportunities when they arrive. Remember being poor is passing over opportunity repeatedly.
. - Savings doesn’t make you rich, profitable and wise investments make you rich.
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The most important investment you can make is in yourself. Save so you can invest in your personal development because that yields a great return on investment. #DeepThinking
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it isn’t about the money you have, it’s about the knowledge you have. There are no real barriers to you getting rich if you’re willing to work hard and learn.
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Price is what you pay. Value is what you get. Savings can help you pay the price for the value you get.
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Risk comes from not knowing what you are doing. Never invest in a business you cannot understand. Have savings so you can make wise investments.
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On the upgrade side of life, we know that honesty is a very expensive gift. Don’t expect it from cheap people. Be brutally honest about your savings so you don’t miss out of investment opportunities.
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No one ever became wealthy by just savings. Save so you can make investments.
I just read a book and it's totally against the act of savings.
The word "Existence" is made relevant by savings. If nothing was saved, nothing would exist.
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