Every start of the year finds us thinking about making a change, variedly, but for a better us before the year ends. One of the prominent items that feature in many “to-do” lists from society to society is saving and budget decisions.
As the old adage goes; every decision has its consequences. And we agree that saving remains a top success hinge from one person to another.
But how easy or tough can this get? It is delicate but never a walk in the park.
The empirical attribute that causes the myriad plans of saving bear fruits is discipline. Sadly, this won’t come at your convenience.
As a growth culture, saving needs to be nurtured and pruned over time. Some say it is a habit. Maybe… A habit is what you repeatedly do.
Be it as it may, when you decide to save, you must mean it. Your decision should cause a drastic build-up of changing how you conduct many aspects on your spending. Basically, your financial character must be on an overhaul.
Your decision should inform your “financial or spending” character and in progression, the revamped character should drive you to your destiny.
So get up, make a realistic plan and establish operational systems (however basic they could be) and kickstart your saving programme.
For instance, you might need to cut down or scout for more cost effective ways of paying your utilities, like power and water. Perhaps, you may need to cut down on your cell-phone subscriptions. Think about that basic home improvement trick that might just work for you at limited damages.
Few questions you might need for your saving map are
- What are my earnings?
- What are my total expenses?
- Do I have any amount remaining after the expenses?
- What will be my contingency until the next pay?
Universally, financial pundits believe saving at least 10% of your income would do more good to your future. Depending on your income however, you can do up to 25%. Now do your calculations, switch tabs to explore your saving journey.
Always remember, saving requires discipline. Sustaining your saving culture requires individual economic responsibility.