Start learning art of saving-to get financial freedom 1 day It is very easy to spend money on one click today on internet or any shops and due to this habit we are getting lots of trouble when to think to start about saving some money .
But it is difficult also but we need to start that because if we don’t start now then it will be very late for that so start learning the art of saving. If you are not spending money on unnecessary things that doesn’t mean that you are stingy that means you are smarter than that person who is spending money on that things which are not helpful for him and when he needs money he borrow from someone else. If you want this time don’t have to comes on you start savings from today. So today we are going to explore some smart ideas for this habit.
First think ”Why you are doing this ”?
Start learning art of saving-to get financial freedom 1 day
Without any purpose you will be bored after some days that’s why we need some purpose when we start this lots of purposes are there for example.
Emergency fund : We have to make a emergency fund at home which we don’t have to spend until any emergency come this fund can help us and we don’t need to borrow money at the time of emergency.
Education fund : If you have Children then you to start creating education fund for them this will help them to take a good education with best schools and colleges without any worries.
Property fund : If you are living at rented place then start creating some fund for down payments for buying your own property because living in the rented property is might cheaper than the Emi’s but it will never gives you peace of mind until you will not shift to your own house. Your small amounts of saving for some years can create a miracle after some years.
Vacations fund : If you are working professional or employees then you must have to start savings for this fund because if we are working full year for the money then we must have to save some amount of our salary or income for the vacations fund and don’t spent it anywhere without vacations.
These are some reasons why you have to save some part of your income. Now we will see that
Start learning art of saving-to get financial freedom 1 day
Where we are spending money ?
When we are start savings that time we must have to know where we are spending unnecessary money then it will help you to get that amount which you can easily save.
Start note down the expenses : When you get the salary or income that time you have to start noted down that expenses which you are doing like if you are spending money for grocery, movies, online shopping etc then you can manage your expenses.
If it is not necessary then you can avoid to spend that money if you think that if something you want to buy online but that is not necessary then you don’t buy that mean you can understand where your money was going and how you stopped that. This will definitely helps you in your future expenses and you will easily track your monthly expenses.
Budgeting -The basic foundation of your savings
Start learning art of saving-to get financial freedom 1 day When you start budgeting then you start basic foundation of your savings this will help you to understand your necessary and unnecessary expenses and when you understand the difference between this you can easily start saving. You need to fix one amount from your income to savings and that amount you have to withdraw from your salary or income and fix somewhere like piggy bank, Banks or any saving funds etc. and remaining amount you can spent as per your requirement this will help you to get you dream and wealthy life.
Important and Final tip
Generate multiple income sources, if you are working somewhere as a employee you must have to understanding your financial needs and act as per your needs when you are working somewhere that time you have to generate another income source and work on it because today’s expenses are very high and if the only person in family is earning then it can be difficult to survive one single income source.
I hope you will like this blog and start saving some part of your income and you will get your dream life.
Start learning art of saving-to get financial freedom 1 day
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