Stop Leaks

How can one save when their income is leaking out ??

1.Track your every day expenses and find out which is an unnecessary one.Re-route some of your expenses to savings.

2.Save before you spend I mean income equation should be::

INCOME-SAVINGS=EXPENDITURE

3.Set Goals,write down your goals and your strategy for achieving those,set your budget.

4.Save minimum 20% of your income.

couples, take care not to pour out income on unwanted expenses.Gather all important financially related documents and keep them equally accessible to both of you.Ladies take a active roll in money matters.

Bachelors pre-marraige is the correct time to start saving.Keep aside your parties and phone bills and save for a secure future.

Spend and enjoy but know where your every penny goes...

Are you Wealthy???

We all earn money, many are rich. How many of us are wealthy. First it’s better to know the meaning of wealth.Wealth is derived from an old English word weal which means well-being.According to Robert Kiyosaki, the author of “Rich Dad and Poor Dad”, Wealth of a person is being determined by how long you can survive at your current standard of living if you quit your job today. So once you stop getting your paycheck, how long can you live off with your savings and passive income sources before you go broke.
Simply being wealthy is nothing but having enough money for fulfilling your requirements timely.
Just saving won’t do. Make your money earn money for you. Employ your money. Don’t be rich be a wealthy one.Recession has nothing to do with us when we are wealthy.
Will continue my next few posts highlighting savings.