Saving Your Way to Success
by
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Savings can be sorted into hundreds of categories. To make things easier, all these kinds of savings can be first grouped into two categories. To maximize your savings potential you need to know and understand these two categories of saving:
There is no other time when you can save money.
This basic concept of putting saving into two groups also means twice as many dollars can be saved. Two different possible groups of saving give you the chance for twice as many saved dollars. You save not once, but twice! You can save when you earn money and when you spend money.
How does this system work to save twice as much? Many people believe erroneously, that you can save money only when you spend money. If the only time you could save money were when you buy something, you would hardly be able to save your way to success. It would be very difficult to save 50% of your net income this way. This is why there are two distinct times to save money. When you begin a plan of systematic savings with every paycheck, you increase your savings dramatically. When you save $.50 of every $1 you earn and add the $.50 you saved with every $1 you spent, you double your savings. That is how you save twice as much when you save when you earn and save when you spend.
Begin an automatic savings of 10% (or more) of every paycheck. By developing a plan in which you automatically save a portion every time you receive your paycheck, you take an important step forward in reaching success through saving. By reducing how much you have to spend (because you automatically save a percentage of every paycheck), you force yourself to live on less income. Once you are accustomed to spending less, you will be able to increase your savings from 10% to 15% or 20%. Rather than try to force yourself to spend 50% less, work toward your goal in increments. This is a crucial step in the creation of your savings program. You can reduce how much you spend and can begin saving immediately just by saving a portion of your paycheck.
Believe me...this savings method is a great money-saving technique. When you create the habit of saving a portion of every paycheck, you develop a consistency that will transmute yourself from a spender into a saver. When you begin thinking like a saver enormous benefits will begin to appear. Once you see the benefits, you will not want to stop saving. Start saving and you will continue saving.
An automatic savings of every paycheck...or, simply put, "paying yourself" out of every paycheck...is a great method for saving money. You can begin your journey to success through saving by beginning your savings immediately. How do you do that? By creating, right at this moment, an automatic savings plan. Begin right now! Stop reading (for a moment), grab your billfold, purse, or wherever you keep your money, and begin an automatic savings plan by removing 10% of whatever is in it. Even if this amounts to only a few dollars, do it anyway. Now stick your money in an enveloped marked, "savings" and put it somewhere safe. Congratulations! You are now on your way to saving your way to success!
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About the Book
Saving Your Way to Success
Why should you save money? How do you start? How can you become successful through saving?
Making saving money a habit to maximize savings potential is the foundation for financial freedom set forth in Saving Your Way to Success. This money-saving book takes the way we think about saving and turns it into an idea that can revolutionize how and why we save. Corroborating research and study, personal experience and time-tested methods of saving, this book is proof that working hard and saving money are the keys to the accumulation of long-term wealth and the achievement of financial success.
Has a high-flying lifestyle set you on a crash course toward financial ruin? Are you moving ahead with no money for retirement? Have your credit card balances snowballed beyond your control? Do you desire financial success ... but have no idea where to begin?
In easy-to-understand language, this book explains how you can systematically save ... and use those savings to accumulate wealth over time.
You will learn:
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How to get out of debt ... and stay out3
How to use the one surest method for escaping revolving credit card debt3
How to set up your own personal program to maximize savings3
How to use the best method to multiply your savings many times over3
How to develop and achieve your financial goals3
How to live below your means ... and live happily at the same timeSaving Your Way to Success will be the book that will lead you to personal and financial success.
About the Author
Justin P. Ertelt has learned from years of personal experience, observation, research, and study that saving is the key to personal financial success. Far from a dry academic study, his book is filled with Justin’s real-life experiences and keen observations ... qualities that make this book a dynamic and useful tool. With bankruptcies at an all-time high ... while savings have reached an all-time low ... Justin felt compelled to develop a savings program for everyday working people who are trying to balance a debt with a serious lack of savings. Justin’s mission in Saving Your Way to Success is to deliver an important message ... saving is the key to success ... and show readers how to use it to enrich their lives and reach financial independence. Justin lives in Fargo, North Dakota. He has won numerous awards in areas of interest including writing and newsletter publishing. He is currently saving his own way to success.