Friday, February 1, 2013

The art of saving money: Baby steps



There is a truth universally acknowledged by every man that money is in fact the greatest power on earth.   People need money, as much as oxygen. While people cannot inhale a large amount of oxygen (as it is lethal) they can however spend so much money to the point that they need to gulp in a lot of oxygen.


Image credit: www.karma-free-cooking.com



Most people know how difficult it is to spend money, which is why when the monthly pay check comes along; they can’t wait to spend it.  Some people will try to rationalize that the amount they will spend goes out for the bills and what not, and what’s left would be used to treat themselves.  However this kind of rationalizing actually works for the short term, but is terrible in the long run.


People are more often inclined to spend rather than save, because they are more focussed on the happiness they can achieve right now. They do not realize that by saving money they can have a bigger possibility to be happier in the future.


The art of saving money is relatively easy, the basic principle of which is to save an inconspicuous amount of money for a long time, on a regular basis.   For example; a person has 150$ a day, he or she can easily take off 50$ of that money and keep it somewhere, if done on a three-day pattern he or she can save up to 150$ per week, 600 $ a month and 7,200 $ a year.

The trick is to save the amount of money you can live without, or the amount you usually use to buy a coffee at Starbucks.


Image credit: www.cathe.com



With the country still under recession and the world-wide oil dispute, saving money is the only sensible solution for people who want to survive until the real apocalypse comes along.