It’s not easy to save money when you barely have enough to get by…
The good thing is that money follows the same rules for the rich and the poor, so no matter what your income is, you can dig yourself out of the hole if you are willing to put in the effort.
Media today will have you believe that it isn’t your fault if you are poor, it’s the government or the institutions of society that are failing you.
Yes, this definitely plays a factor but even if those things were working perfectly, you’d still be poor because you don’t follow the laws of money.
Here are a few tips to get you started on working towards a better life.
When you save money that doesn’t mean that it goes away forever and is never spent on anything.
Think of it like a shield, if you have a shield, you have a way of protecting yourself in case a rock comes flying out of nowhere and is falling towards your head.
A savings account can protect you in case an unexpected expense comes flying towards you. If you get a medical bill or need a car repair, you’ll be fine because your shield of money is there to take the blow.
When you think about savings as more of an insurance plan instead of a dragon hording their gold, then you don’t have to feel guilty when you have to say NO to going out or buying frivolous things.
Don’t be cynical but always assume that some cost you aren’t expecting is just around the corner, and be prepared.
Because that’s how life works, we think life should be nothing but good times with sunshine and then we get shocked when something bad happens.
Realize that good luck and bad luck are always on a seesaw.
If you make the choice to believe that you are able to save some amount of money, no matter how small, then you can have a good safety net and build wealth afterwards.
If you can only save $20 a paycheck, then within a year you will have savings of $480, doesn’t sound like much but this can be a car repair or medical bill.
If you save for a few years, you can afford something bigger, but you don’t need to spend that big pile of money.
You can just keep growing it and at the same time grow your peace of mind because you know nothing financially can harm you.
If you start allocating some of that to investing, then you can probably retire a rich person and live the rest of your days in comfort.
We know social security isn’t going to cover most people by the time this generation gets old so it’s best to cover yourself and not rely on broken outdated retirement policies.
Think of debt like air resistance on a car.
If a car has a lot of air resistance on it, it doesn’t matter how powerful the engine is, the car will never reach it’s true potential while being held back.
If you have a lot of debt accumulated, you could never hope to get to a place where you don’t need to worry about money because you have all these money sucking leeches on your back.
As you are working on your savings you need to work on eliminating debt, when you have no debt, your money is free to grow big and strong.
If you have a low income, it can be so demoralizing to see your money growing at such a slow rate, but if you are patient you will eventually get there.
Don’t expect this to happen over night, but it is more than worth it.
Learning to save money also gives you benefits in other areas of your life, you try to save money by eating at home, so you build the skill of cooking and you get healthy at the same time.
If you do those things, then you are also starting to look more attractive.
And when you have not worrying all the time about money then you are more easy going and fun to be around.
You can probably sleep more soundly at night as well.
The skill of patience can help you achieve anything you want out of life, because you are not only able to work hard, you are also able to last a long while before it finally pays off big time.
This is not everything it takes to save money, but this is everything you need to get started and moving in the right direction.
Be patient, work hard at saving, and don’t give up.
You will get to a place where you aren’t worrying about money all the time.