If you cannot save 10% of your income, start by saving 1%. Put it away at the beginning of each month, even before you begin paying down your debts. Live on the other 99% of your income. As you become comfortable living on 99%, raise your savings level to 2%, then 3%, 4% and so on.
IMPORTANT: Once you receive your salary, the first person you pay is yourself!!! Transfer that all important 10% of your salary to your Investment Account — DO NOT PROCRASTINATE!!
Within one year, you will be saving 10% and maybe even 15% or 20% of your income and living comfortably on the balance. At the same time, your savings and investment account will start to grow. You will become more careful about your expenditures, and your debts will begin to be paid off. Within a year or two, your entire financial life will be under your control and you will be on your way to becoming a self-made millionaire. This process has worked for everyone who has ever tried it. Try it and see for yourself.
CONGRATULATIONS……if you have come to this point, I know you are serious about getting rich and taking control of your life — Take charge!!
“A part of all you earn is yours to keep, and if you cannot save money, the seeds of greatness are not in you” —- W Clement Stone
Put Your Thoughts and Feelings into ACTION
Open a special account for financial accumulation today. Make a deposit in this account, no matter how small. Then, look for every opportunity to add to this account. Begin to study money so that you understand how to make it grow. Read books and magazines by experts on the subject. Never stop saving, learning, and growing until you are financially independent.
Remember that this account is NOT meant as a spare resource where you can withdraw during time of emergency. You must have another spare cash resource as I have mentioned in my earlier posting. If you are serious about getting rich you will “forget” about this account, put this savings into a trust fund that can churn you a minimum of 10 to 12 percent of earnings, compound this over 30 years…… you will retire rich!!!