Extra cash?
Where does your extra cash like bonus, commission, or overtime pay go? Let’s face it most of it goes directly to a modest shopping spree which should not be the case.
The very reason why many people are not able to save is because they don’t have a plan. They don’t have a mindset of how they will manage their money. This involves accepting that saving is a responsibility or even an obligation. A person needs to acknowledge the fact that he has to grow wealth over his lifetime.
To do this, ask yourself the following question: What is your financial situation? What are your assets and liabilities? What is your net worth? What kind of lifestyle do you have? Then, make a road map that will take you from where you are now to your goal, or where you want to be. Then, asked yourself: how do you save?
Let’s face it, most of us would rather choose a lifestyle we cannot afford. We spend more than what we earn, rationalizing in our mind that we will earn more in the future by working hard. But this should not be the case, even with our bonus or overtime pay. In the coming entry of this blog, I will discuss tips, ways and everything that has to do with saving, investing and doing business.
