Earn, save then spend ... remember
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| Earn, save then spend ... remember |
There is a very old saying related to conservation. Earn, save and spend. If you have to save for the future while earning, this is an easy way. This is a line that you will always remember and never regret. Monika started earning from 1 year ago. Monika, an engineer by profession, was given exactly the same advice by his father.
As a result of his father's advice, he has accumulated a lot in one year. He also wants to buy his house in the next five years. Monika says that the formula given by Papa is working for me and I think my dream will be fulfilled in the future as well. Not just interest, the 'earn, then spend' formula can work for everyone. This rule is not difficult to accept, you just have to explain a few things to yourself. To maintain financial security in the future as well as in the future.
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Let's find out-
If you do not agree-
If you do not adopt this formula in your life, you may also face a lot of losses. Think of it this way: If you spend more than you earn, you'll start to run out of cash first. Deficits can sometimes be so great that you have to borrow. If you are already in debt, things can get worse. No one will ever run out of cash when you spend less than you earn,
secondly, this cash will not let you get into a debt situation. Even if you are in debt, this cash will put you back in a tough position.
Meaning of earnings, savings, and expenses
It is important to know the meaning of income, savings, and expenditure before adopting the formula. Yes, you can know the meaning of these words, but we say the real meaning, knowing them you will be able to understand the real meaning of these words-
Earnings - Your earning skills
Expenditure - Your ability, which allows you to spend a lot of time thinking and living a comfortable life
Savings - Decisions made at the right time to continue earning growth
In fact, not everyone has the ability to do these three things in the best way possible. Some can do things better and some can do things. But better results are obtained when all three things are done well.
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The hardest-
The most costly of these three tasks is cost management. In this whole formula, it can be said that it is difficult to learn the art of spending money in the right place.
However, it can be improved by making some changes. The more you earn, the more you will earn in vain if you do not follow the right method of conservation. Your goal should be to make a big difference between earning and spending. That means they are never equal. But how do we know-
. First of all, don't spend anything like this. Make sure you have a reason to keep every expense in mind.
There is nothing to wait for a sale for any purchase.
Refrain from paying interest. For this, you have to get out of debt first.
Economic It is important to remember the economy in big purchases and in low cost every day.
Traffic is a way to save money easily.
You have savings privacy-
Looking at savings from the angle of saving through income and increasing savings is actually saving. In fact, anyone can save it for themselves and think of increasing it as real savings.
These savings can be further enhanced by investing in hard-earned money.
Buy less and sell more funds is very effective for those who save a lot. Many large investors do the same. They buy houses, gold, and shares at lower prices and sell at higher prices.
Others According to others, investing is not always right, so whenever you invest from a savings point of view, invest the money according to your needs.
You will be financially strong when you practice increasing your savings.
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Earnings must be fast and consistent-
Consistent efforts should be made to maintain earnings to maintain savings and expenses. For this, the carrier should always choose your choice it will be needed first of all. After that, perfect yourself so much that then the salary will always increase. Apart from these, if you have a hobby, you can earn money by fulfilling this hobby instead of forgetting it.
You make money by teaching painting to young children, like painting, or by selling paintings. There is one more thing that is not a regular earner but can certainly manage cash at once. This is a home store, products that are in perfect condition but unused can be sold to make money.
In addition to these, keep in mind that the first way to earn this money is to work hard and nothing else. This is the only thing that needs to be done regularly to keep earning for a long time and to keep up for the future and keep trying to keep earning. Being satisfied with a job and a limited income is ok but not always.
