Saving money is not as easy as it sounds and it requires determination, compromise and sacrifice to save money. It is a very daunting task and very few people are successful in saving a considerable amount for the future. Most of the people adopt the strategy of "now or never" when spending money and so they stop thinking about future and instead focus on the present. However, a wise decision would be to think about the future as well to spend your last days happily.
If you are having a wonderful time today by spending all your money, this time will be forgotten in your retirement when you will be in the pool of stress and depression and other health issues, all because of no money. Hence, think about it and start saving only a little amount per month. You do not need to save all your income and run poor today; just spend money on your necessities, prioritize your wants and only have those which are more important and lead a comfortable life while saving only a small amount of money for retirement.
The reason why people face difficulty in saving money for any reason and especially for the future is that they prioritize present over future. They think if they are given the opportunity to truly enjoy life today by spending all they have, then they should go for it rather than run on a budget for fear of future. Some people also fear that they might not live up to retirement and so should not care about it. However, the likelihood of living till retirement is higher than dying before that which is why it is a sensible thing to save.
When a person really decides to start the process of saving for retirement, then he faces difficulty in successfully doing it. That is, he tries to save but always finds himself with a zero or very low balance on his savings account. This is because he spends the money before it even reaches a high level to give him any realizable income. To overcome this common problem, you should keep your money away from its threat, which is you. Yes, you are the biggest threat to your money and the only way to save successfully is to keep your savings out of your own reach. Even though people look for accessibility when looking for a savings account this is what is dangerous for your savings. You will find that if you choose savings account which is not liquid and will charge you a penalty for withdrawing, you can save higher amounts of money and for a long time also.
Following this idea, saving money in a cookie jar is never a successful method as it requires a lot of determination for not spending the money you can have easy access to. Besides this, for saving successfully, you need to change the way you spend and shop. You have to change yourself and give up some luxuries that are just waste of money to save for a happier life ahead.
If you are having a wonderful time today by spending all your money, this time will be forgotten in your retirement when you will be in the pool of stress and depression and other health issues, all because of no money. Hence, think about it and start saving only a little amount per month. You do not need to save all your income and run poor today; just spend money on your necessities, prioritize your wants and only have those which are more important and lead a comfortable life while saving only a small amount of money for retirement.
The reason why people face difficulty in saving money for any reason and especially for the future is that they prioritize present over future. They think if they are given the opportunity to truly enjoy life today by spending all they have, then they should go for it rather than run on a budget for fear of future. Some people also fear that they might not live up to retirement and so should not care about it. However, the likelihood of living till retirement is higher than dying before that which is why it is a sensible thing to save.
When a person really decides to start the process of saving for retirement, then he faces difficulty in successfully doing it. That is, he tries to save but always finds himself with a zero or very low balance on his savings account. This is because he spends the money before it even reaches a high level to give him any realizable income. To overcome this common problem, you should keep your money away from its threat, which is you. Yes, you are the biggest threat to your money and the only way to save successfully is to keep your savings out of your own reach. Even though people look for accessibility when looking for a savings account this is what is dangerous for your savings. You will find that if you choose savings account which is not liquid and will charge you a penalty for withdrawing, you can save higher amounts of money and for a long time also.
Following this idea, saving money in a cookie jar is never a successful method as it requires a lot of determination for not spending the money you can have easy access to. Besides this, for saving successfully, you need to change the way you spend and shop. You have to change yourself and give up some luxuries that are just waste of money to save for a happier life ahead.
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