Benefits Of Saving Early
Based on the classic novel, The Richest Man in Babylon, fattening your wallet or plainly saving is the first step to become wealthy and to acquire financial security. Maybe your guessing how to fatten your purse or how to save if you have nothing leftover? Is it hard to save money and fatten your purse? Yeah there are many instances that your wallet is really fat but only for a moment, maybe in a period of two days after you received your income or paycheck.
Most people have a difficult time to save cash because much of their salary goes to their cost of living. It is not extraordinary to learn that they could not save even small portion of their income since it went to the expenses. I have the same encounter before. Saving money is not my first concern due to various expenses and my thinking is that I could have money each month though my salary. My thinking about saving only changes when I nearly loss my job.
I am an OFW or Overseas Filipino Worker and as a family man working abroad it is very difficult to loss your job particularly when you are not prepared in financial aspect and mentally. On those time, we don’t have any savings because we’re paying for the amortization of our house and lot. After that event, I looked for means on how to save as well as on how to make money aside from my current job. I begun studying business books that tackles saving, investing and other related topics on money.
So it’s the short account of my financial journey why I want people to learn from my circumstances and be decisive to their financial condition. We can assist one another and be financially protected.
So going back, the challenge is how to save money if you don’t have any money leftover? I think as long as you have employment and taking a monthly salary, you have the capability to save money if you have the willpower. You should be persistent to save at least 10% of your salary per month.
You can carry out this by automated sending of your money from your payroll account to your bank account which has no ATM card. You can apply for this privilege if you’re bank has this feature. In the Philippines, where my bank is located, I applied for this benefit which is absolutely beneficial and comfortable to use. So in conclusion, if you want to achieve financial security and be rich, begin to save now!
