Timing:1 times per Day
Having an empty wallet can drag your self-confidence down. It’s tough to keep your self-confidence high on days when you struggle to pay your own bills. Saving up is not just for rainy days, it’s to keep you from the burden of worrying about financial problems. You can’t build much confidence if you know that there are money problems to worry about. If you owe someone, make an effort to pay them outright. Once you’re done paying your debts, you can start saving up to prevent having to borrow from someone again. Having savings provides you with the security to ease up your worries, and it consequently builds your confidence altogether.
Please refer to the book for more details on this activity.
Gosh. This is so true. No matter how much you earn but when you know that you have a good ssavings your approach towards life changes I see myself when a year back I was more of a person who was struggling to do something in life but now I feel much more in control of my life. Because I save the little for the last few months.
Around 10 year back due to an unexpect health issue, I lost all my savings, in fact had to take some loans. I didnt have any medical insurance that time. To be honest, I didn't save properly that time. It took me 3-4 years to get over my healthy issues. Then I started working again and paid my debt. I am also saving money - now I know it's important.
In the last few months, I saved around three thousand dollars. I am going to invest it in fulfilling my dreams. Knowing that I have a decent amount of savings has changed my outlook and I am not feel much pressure on mysself.
Saving is an art. I have saved on commute, food and energy bills. Just reduced wastage nd planned everything out.