Happy new day! I want to share a few tips on saving money. It's an amazing feeling when you can love saving just as much as you love spending. When spending is out of control and there is no adequate savings plan in place it creates a cycle of living paycheck to paycheck.
1. Make it automatic! When money has no assignment it becomes dangerous and at risk of being spent. Therefore, once you determine your target savings amount immediately have that amount drafted at a specific date into your savings so you never touch it or see it.
2. Avoid paying interest! The average consumer debt is out of control. The fact is because people have no money saved they are forced to borrow. When you borrow money you become enslaved to the lender until all of it is paid off. When you have money saved the only person you will have to borrow from is yourself.
However, if you do have any debt putting a system together to eliminate that debt very quickly will save you so much in interest. Remember the more you save in interest the more you can save towards financial independence.
3. Last, invest in what you love! When you purchase things on impulse or just because society tells you that you need it then over time it will cost you a lot of money. When you self develop you become aware of the things that truly bring you happiness and are worth you spending money or time on.
Thank you as always for your support! Have a blessed week!
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