Something More Magnificent is Coming to YOU! So often when things change in our lives, we have such a resistence to change.This is because when people see a big change appearing they are often fearful that it is something bad. But it is important to...
Is this a thought YOU hold? "I have no money to give, but when I have money then I will give."If it is, you will never have money.The fastest way to attract anything is to give it to another. So if it is money you want to attract, then give it. You can...
Kindness in words creates CONFIDENCE. Kindness in thinking creates PROFOUNDNESS. Kindness in giving creates LOVE
Kindness in words creates CONFIDENCE. Kindness in thinking creates PROFOUNDNESS. Kindness in giving creates LOVE. Stress, worry, and anxiety simply comes from projecting your thoughts into the future and imagining something bad. This is focusing on what...
If you are looking for LOVE, the best chance you have of finding absolute happiness with the perfect person (whoever that may be) is when you surrender to the Universe.Allow the Universe to bring the true love of your life to you, and to move you to them....
Thank You! Thank YOU! THANK YOU! These two words, when fused with intense feeling can improve YOUR LIFE more than you can imagine. But you must saturate the words with the feeling of GRATITUDE in your heart.I am sure, you know what you feel when someone...
Success Secrets 8 of 21
Pay Yourself First
A part of all you earn is yours to keep, and if you cannot save money, the seeds of greatness are not in you.
✓ Resolve TODAY that you are going to save and invest at least 10% of your monthly income every month throughout your working life.
Before you start spending, take 10% of your monthly income and deposit it into a special account for financial accumulation. And most importantly, resolve that you will use that money only on long-term investments such as mutual fund or for the purchase of the real estate.
The fact is that even if you save just Rs. 500 per month throughout your working lifetime and you invest that money in an average mutual fund that grows at 10% per annum, you will be worth more than Rs. 10 lakhs by the time you retire.
This means that even if you are earning minimum wage if you start early enough, you can become lakhpati over the course of your working lifetime.
However, developing the lifelong habit of saving and investing your money is not easy. It requires tremendous determination and willpower. 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, your financial success is virtually assured.
Practice frugality in all things. Question every expenditure. Delay or differ every important buying decision for at least a week. The longer you put off making a buying decision, the better your decision will be.
A major reason that people retire poor is because of impulse buying. No matter how much they earn, they tend to spend that much and a little bit more besides. As a result, they never get ahead and never get out of debt.
If you cannot save 10% of your income start today by saving 1% of your income. Put it away at the beginning of every month, even before you begin paying down your debts. Live on the other 99% of your income. As you become comfortable living on the 99%, raise your saving level to 2% of your income, then 3% and 4% and so on. Within 1 year, you will be saving 10% and maybe even 15% to 20% of your income and living comfortably on the balance.