How To Save Money With Small Income
It’s not what you earn,it’s what you save that matters.
You can not solve a problem if you do not know or realize the problem itself,you have to identify that you have a problem then admit to solve it out.Its painful to admit but it brings result,if you trying to solve financial issues you must admit that you are also the problem for you to gain financial independence.
Everyone has the ideal perception of what is wealth,how you define it does not matter,what matters is how you finance it,that is what makes the difference between how you create your wealth.You can earn a lot or even double your income,but with the same behaviours of not saving you end up having nothing,if you waste 5 shillings out of every 10 shillings ,the day you eran 10 million ,you will not account for 5 million.Change yourself so that you can manage a business that is giving you a lot of income.Charity begins at home,call yourself in to a personal finance session before starting out a business.
There are problems identified and solutions on what affects your saving;
1. Mentality on money;do not have fear on using your money,invest in what looks risky,do not bank your money just to make you feel good that you have it,invest.
2. Choice of partners we choose;do not think that people who drive big vehicles don’t have money issues,they do,just socialize with a person of your choice.look for potential but do not go for people with money
3. Fear of large figures; do not be intimidated of investments with big figures,just know how to get it.
4. Your expenditures should not be higher than your savings;always countercheck how you spend your money verses what you save it should be positive.
5. Budgeting;record and add up all the money that you have spent,any peny be it taxi ,food, licences and divide by 12,you will be shocked that you spending is more than what you earn.
6. Tame your expenses;what you cant afford do without,if you must get it work for it.