In The Beginning Of Financial Prosperity

I realize that 999 out of a 1000 persons is poor and poverty is eating into human so well as the population rate increases. If you are thinking of getting rich overnight, then I guess you should not rad this post.

The law of wealth has never changed from before Christ till date. Wealth is amassed, wealth is accumulated, wealth is a gradual process. The difference between a business man, an investor and a penniless worker is the ability to amass wealth from scratch and keep it. I will not be talking about how to keep and maintain wealth but instead, I will be talking about how to amass wealth.

source

If you are paid 10 dollars per hour and your expense is above your earning, then it is not possible for you to amass wealth. It is not possible for you to be rich. You will end up living a life of penury and not being able to take care of rainy days when you have an emergency.

The Saving Trick

In other to invest and maintain wealth, you must first learn to save money. Saving is a trick that has helped a lot of people hit their goals. Let me make this clear that saving alone cannot make you rich but it will help you learn how to hold money for a long time without spending unnecessarily.

What is saving?

Saving is the ability to keep a part of ones earning for a period of time so as to get a certain figure pleasing to the saver. Before I go on, I want to let you know something. Do you know that the higher your income, the higher your taste. If your income is $1000, you learn to live at that amount and your taste do not grow beyond that. If your income increases to $10000, your taste increase very drastically to suit your income. It is not a disease, it is just normal with human desires. In other to achieve a particular financial goal with respect to your income, then you need to start saving although I advice you put your funds in institutes that can help you with interest since they will help you invest your funds.Your concern currently is not what your money is used for but the ability to save properly so as to attain a particular financial goal.

source

My advice to people who want to start saving is to save 30% of your earnings/income. It might seem big but this is the truth, when you live above your income you are bound to be poor but if you can work on your saving skill, you will be able to keep a large amount faster than you think. You might also be thinking of how you will attend to your expenses but do not forget I said human desire changes according to what is available, so you will learn to cope.

source

If you earn $10,000 monthly and you decide to keep 30% of it, which means you will be keeping $3000 monthly while you have the remaining $7000 to yourself. If you do this for 12 months, you will be having in your savings 3.6 times your actual monthly salary which is $36,000. If you decide to this for another 12 months, then you will be having $72,000 in your savings not including the interest you get if you save with an institution that gives you interest monthly for saving your funds with them.

Saving is a very easy and good practice, it only requires perseverance, consistency and discipline. Try saving today, it is a very strong tool for financial prosperity.