Savings = Income - Expenses
What does the equation shows you first? Now savings is paying yourself first. Paying yourself first is the most effective way to make your dreams and goals come true. Pay yourself into savings of $5 a day? $50 a week? $ 1000 a month or $10,000 a year? According to Joshua Kennon, the first check we should write is to ourselves by depositing into our brokerage, mutual funds or retirement funds.
Where to pay yourself first?
1. Heavenly Accounts?
What does the equation shows you first? Now savings is paying yourself first. Paying yourself first is the most effective way to make your dreams and goals come true. Pay yourself into savings of $5 a day? $50 a week? $ 1000 a month or $10,000 a year? According to Joshua Kennon, the first check we should write is to ourselves by depositing into our brokerage, mutual funds or retirement funds.
Where to pay yourself first?
1. Heavenly Accounts?
(e.i. charities, church, hospice centres, orphan homes, etc)
Your heavenly deposits are the best selfless investment in life which has eternal worth and eternal return to you and your life. You are not just making your life worth but LIVES!
2. Bank Account
3. Property
4. Investment Funds
5. Unit Trusts
6. Bonds
7. Employee Provident Funds
8. Insurance
Make your savings ENJOYABLE. You don't have to work hard and enjoy less in life. The utmost golden rule is to avoid the "Spending Treadmill" where your spending, credit cards and loan usages - the ends never met. Soon you may be just paying your debts every month like a treadmill that never ends.
Your heavenly deposits are the best selfless investment in life which has eternal worth and eternal return to you and your life. You are not just making your life worth but LIVES!
2. Bank Account
3. Property
4. Investment Funds
5. Unit Trusts
6. Bonds
7. Employee Provident Funds
8. Insurance
Make your savings ENJOYABLE. You don't have to work hard and enjoy less in life. The utmost golden rule is to avoid the "Spending Treadmill" where your spending, credit cards and loan usages - the ends never met. Soon you may be just paying your debts every month like a treadmill that never ends.
2 comments:
mel! congrats on setting up your new blog. look forward for more entries! :D
Hi angel, thanks! we can know each other much more too on our blogs. :)
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