Savings...

Financial situation is like the main thing in all of our lives. Most of our days are spend thinking of how to make more money!!! It is so true isn’t it? I’m not talking until the extend of making money as our God, but be true to yourself, we are always making decision to improve our lifestyle and standard of living! So with that comes the issue of money! So don’t deny that money is NOT important, it is important! For that matter if you don’t want it you can always bank it into my account :-D

This session I would like to give you some tips on how to deal with your money so that you will have a comfortable lifestyle ahead and not struggle with money. If you have not started a saving or retirement plan yet, I do strongly encourage you to do so immediately. It’s never too young to start on this plan, actually the younger you are the better or rather more money you will have at the end of the day!

Here are so of the tips that you can used.

If you are in the 20’s
• Learn to live below your means.
• Tighten up spending.
• Have another bank for your saving (Preferably one that is not convenient to go withdraw money).
• Save at least 10%-15% of your take home pay.
• If you still have enough start a small investment. Like into fixed deposit, bonds, unit trust, etc (But be aware not too big of an investment).
• Start an escape fund. This is a fund that will be used in time of emergency or unexpected
circumstances.

If you are in the 30’s
And you have yet started what the 20’s are doing; incorporate it into your plan IMMEDIATELY!

• Concentrate on building your career. Start your own business now if you need or have plans to enter that field.
• Turn cash into possessions. Meaning start to invest into a house, stock etc.
• Start an insurance which give a high return!
• Get marry for those who plan to.
• Start a fund for your children’s future education and well being.
• Increased your investment portfolio.


If you find yourself doing some of the above during your 20’s that is very good because that means you are on the head start! Like for myself I’m practicing those things listed in the 40’s already tho’ I’m yet anywhere near 40 :-)

If you are in the 40’s
• Feed an escape fund.
• Monitor your investment closely.
• Increase saving percentage.
• Invest into vocational home – a place where you would like to retire into.
• If you have yet to start your own business, start your own home business now!

If you are in the 50’s
• Keep the investments working for us by monitoring it closely.
• Monitor your estate investment.
• Benefit check, do this check so that you know what kind of benefit you will enjoy when you retire from your company.
• If you have children and they have reach the maturity age (start working) stop giving them
allowance or money.

Hope this helps. For those of you who have fallen behind, I urge you to make it right immediately so that you can be debt free and well to do faster. For those who are ahead, KEEP UP the GOOD WORK!!! Be blessed people!