Save Money –Tips From the Best Business Advisers
All people have encountered situations where they needed to be careful with their savings, no exceptions. No matter if your wage has end in 2 or 6 zeros, the ability to save money is the main criteria on the path leading to success.
No matter what your situation is right now, the fact that you stopped from anything you were doing to read this article shows that you are open to make changes to improve your life. And this is the first step that will help you grow from all points of view. I’m congratulating you for your decision to develop saving abilities and now we’ll see what advice every BIG coach is giving to anyone, from multi billion worth companies to people who are struggling to live from one day to another. This whole article is a how to make money for small business tip.
Pay Yourself First
First point is taken from the Law of Savings, directly from The Richest Man in Babylon by George Classon.
If you take ten percent or more of everything you earn and create a fond, this is the long term way of creating wealth: by accumulating an amount that in a year or 3 years could be invested in something that would bring you more money. This will also help you program your mind to be careful with every penny you spend; the more organized you’ll become, the easier for you will become to save.
This applies even if you think you don’t have that 10 percent available. Let’s take for example that $5 morning latte. If you give it up for a month, you already saved $150. Take this example and create your own monthly test. At the end of it you’ll feel more accomplished than you think, and you’ll change your habit into a constructive one.
Be a Student
“Financial freedom comes to the person who actively takes control of their finances.”- Brian Tracy
If making more money is one of your priorities, then start learning about it. Look for the best books on this subject, subscribe to the best magazines and be updated on the latest news in this domain.
The Three Buckets of Asset Allocation- Learn How to Save Money
Tony Robbins named the “strategic asset allocation” this way to help you create a clearer image on your financial plan and divided it in 3and will help you to save money:
-your Security Bucket,
– your Risk/Growth Bucket
– and your Dream Bucket.
The way you’ll split your saving into these three categories will allow you to have a more comfortable life.
Your Security Bucket includes your home (considered an asset and not an investment), your pension, Guaranteed Annuities, Your life insurance policy and the list could go on.
The second one will bring you more joy as will help you gain some astonishing amounts. It can represent equities , high-yield bonds (aka junk bonds), real estate, commodities (gold, silver, oil, coffee, cotton, etc.), etc.
Your Dream Bucket and the most important one will consist from the way you’ll repay yourself by achieving your goals. This plan will get help from the earnings from the second bucket. It means from any jackpots or savings from your first rule (10% from earnings).
There are a lot of ways to create wealth and save money in your life but it always begins with small steps. Most self-made millionaires started from the bottom and just had the will to study everything in this domain. There are rules and patterns that always give the same results. By applying this money making tips online, step-by-step, you’ll be able to reach all your goals and live your dream life.