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How To Create Your Financial Future!

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Couple counting money --- Image by © Jose Luis Pelaez Inc/Blend Image/Blend Images/Corbis

Your journey to lasting wealth hasn’t begun until you box yourself in to produce a particular amount of money from now till the end of your career life. The simple secret to financial independence is to take, at least, 10% off your paycheck each time you receive one and put it into a special account for financial accumulation.

The Principle of Saving
The first Law of Saving comes from the book The Richest Man in Babylon by George Classon. It is to “Pay yourself first.” You see, financial freedom only comes to the individual who saves ten percent or more of his income throughout his lifetime. One of the wisest decisions you can make for your future is to develop the habit of saving part of your income, every single paycheck. I have realized that nations, individuals, and families are stable and prosperous to the degree to which they have high savings rates. Only investment today guarantees dividends tomorrow.

Lifelong Habits
Of course, developing the lifelong habit of saving and investing your money is not easy. It requires serious determination and discipline. You have to set it as a goal, write it down, make a plan, and work on it all the time. But once this practice locks in and becomes automatic to you, your financial success is virtually assured.

Practice Frugality
Please don’t listen to those who tell you to take things, especially when it comes to your financial future. I have realized such people are simply telling you to come to or remain at their level. Those who take things too easy will soon be eased out of life. So, practice frugality, frugality, frugality in all things! Be very careful with every penny. Question every expenditure. Delay or defer important buying decisions, the longer you put off making a buying decision, the better your decision will be and the better price you will get at that time.

Parkinson’s Law
One of the major reasons that people retire poor is because of impulsive buying. They see something they like, and they buy it with very little thought. They become victims of what is called “Parkinson’s Law,” which says that “expenses rise to meet income.” This means that no matter how much you earn, you tend to spend that much and a little bit more besides. That way, you never get ahead and you never get out of debt.

Don’t be a Victim
You don’t have to be a victim of Parkinson’s Law. If you cannot save 10 percent of your income, start today by saving 1 percent of your income in a special savings and investment account. Put it away at the beginning of each month, even before you begin paying down your debts. Live on the other 99 percent of your income. As you become comfortable living on 99 percent, raise your savings level to 2 percent of your income, then 3 percent and 4 percent, and so on.

Take Charge
Within one year, you will be saving 10 percent and maybe even 15 or 20 percent of your income and living comfortably off the balance. At the same time, your savings and investment account will start to grow. You will become more careful about your expenditures, and your debts will begin to be paid off.  Within few years, your entire financial life will be under your control and you will be on your way to becoming a self-made millionaire. This process has worked for everyone who has ever tried it. Try and see for yourself.

Act Now!
Nothing moves until you move it! Open a special account for financial accumulation today. Make a deposit in this account, no matter how small. Then, look for every opportunity to add to this account consistently. Begin to study money so that you understand how to make it grow. Read books and magazines by experts on the subject. Never stop saving, learning, and growing until you become financially independent. Unlimited Success!

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