Guidance

5 ways to Save for Your Future Save your Savings

“Someone is sitting in the shade today because someone planted a tree a long time ago.” – Warren buffet

Saving money isn’t about being able to buy bigger and better things. It’s about being prepared to take care of your family. Future may seem far away to some people but believe it or not, NOW IS THE BEST TIME TO THINK ABOUT IT, think about the future and do not spend all you have, save some for your secure future self. Habit of saving is itself is an education; it fosters every virtue, teaches self –denial, cultivates the sense of order, trains to forethought and so broadens the mind.

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The following are some helpful ways you can save more.

 Make Budget

“Budget is telling money where to go instead of wondering where it went.” – John C. Maxwell

Budget IS important, it helps a lot in saving money and spending wisely. Make a smart budget, keep necessities in mind while making budget, put off any unnecessary expenses.

“Don’t tell me what you value, show me your budget and I will tell you what you value.” – Joe Biden

Avoid debts/Get rid of debt

“Debt is the worst poverty” – Thomas Fuller

It is very well said, debt actually make you poor, as until the time you don’t pay back the principal amount you will be burdened with the interest amount. In some cases the amount of interest exceeds the amount of debt. So what’s the use of it? Pay back all of the debts first handedly even if you have to live modestly.

Beware of little expenses

“Beware of little expenses; a small leak will sink the great ship.” –Benjamin Franklin

Little expenses like eating out, going out for coffee or tea every day, using cab instead of riding a bus, buying on credit exceeding limit, paying dues late (with penalty of paying late.) etc are the expenses you can easily avoid, if not avoided makes saving difficult. You can save money from these expenses and little by little it will become hug amount.

Invest Money

“When I was young I used to think that money was the most important thing in life; now that I am old, I know it is.” – Oscar Wilde

Investing money somewhere it is secure is a great way of saving money, just know the importance of money today and know that “Money is the seed of Money.”

Don’t waste money on LUXURIES, live modest

“Save money on the big, boring stuff so that you have something left over for life’s little pleasure.” – Elisbeth Leamy

Luxuries like a REAL BIG house with expensive home appliances and furniture might sound pleasant, but do you actually need it? Life can be great even without luxury.

Save more

“I think the harder part is the discipline to save, so my tip is: Save more or pay late. Far too many people wake up in their sixties and realize that they don’t have enough money. I say, let go of the mentality of spending money for immediate gratification to protect yourself in the long term.” – Jeannette Bajalia

Avoid compulsive shopping

Compulsive shopping drain money like water, avoid buying when you don’t really need to and buy only what is NEEDED.  “Stop buying things you don’t need to impress the people you don’t even like.” – Suze Orman

 



About the author

Shazmin

Shazmin

Shazmin is an Art enthusiast, freelancer and Blog writer, writes on Human Behavior, fitness, Education and others. Opts to learn everyday. Appreciate being incomparable, loves her work and Robustly Believes in Karma - "You served with what you deserve."
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