Why Save?
Many people earn wages just enough to supply their basic necessities.
But if you truly want to be financially secured, you have to acquire more money than what you’re spending – money that you can invest in a business or in other ventures that can propel you to financial freedom.
To be able to do this, you have to start saving early in life.
1. Set a minimum amount to be saved. Savings are not meant to cover bill payments should one fall short of cash. They are intended for financial security.
A little savings, in time, will become big; and it can be used as investment capital to earn more.
Question: “Where will I get the cash I need should I fall short of it?”
The answer: “Find other means of earning extra income, say a weekend part-time job. Any excess cash from one’s part-time job can be added to your savings.
2. Shop only for items needed, not for products that you wanted to buy on impulse. Think first before you purchase.
Don’t fall prey to bargains not needed. It is not suggested that one should starve or be in a pitiful state. As a matter of fact, one can reward himself/herself once in a while for accomplishments made.
3. Review one’s lifestyle. Change or scale down habits that seem to be not-so-wise spending.
For instance, frequent eating in restaurants which is more expensive than homemade cooking can be lessened.
Taking the bus or train when possible, instead of driving one’s own car, can save on gas and parking fees.
If one have to drive his/her car, try car pooling with officemates or neighbors; thereby sharing on expenses.
4. Check your regular monthly bills on utilities like electricity, gas, water, telephone and ask oneself: “Where can I save?”
It may take a while to get adjusted to a lifestyle in the “savings” mode, even to the point of “little sacrifices.” Adapt a gradual, progressive change to save to lessen the impact of adjustment from the lifestyle one used to be accustomed to.
There are more ways of starting the path to a financially secured life by making use of one’s creativity.
Remember, little things mean a lot.
Click to Discover The 7 Steps To Financial Freedom* That Transformed Adam Khoo Into A Millionaire At Just the Age of 26 here!
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Who the hell is Adam Khoo?
Adam Khoo
Adam Khoo is an entrepreneur, a best-selling author and a peak performance trainer. A self-made millionaire by the age of 26, he owns and runs several businesses in education, training, event management and advertising, all with a combined annual turnover of $30 million. He is the Executive Chairman and Chief Master Trainer of Adam Khoo Learning Technologies Group Pte Ltd and a director of seven other private companies. Adam is also a director of the Singapore Health Promotion Board (HPB).
He is also the best-selling author of seven books including ‘ I Am Gifted, So Are You!’ that was ranked MPH#1 best-seller in 1998 and 1999.. His other books include ‘How to Multiply Your Child’s Intelligence’ & ‘Clueless in Starting a Business’.
His book ‘Master Your Mind, Design Your Destiny’ which was the second highest selling book in Singapore in 2004, was on the best-sellers list for 36 consecutive weeks. His latest two books are ‘The Secrets Of Self-Made Millionaires’ and ‘Secrets of Millionaire Investors’ which have both stayed on the Number One Spot on the Straits Times Best Sellers List for more than 52 weeks. His most recent book is ‘Nurturing the Winner and Genius in Your Child’, launched in April 2008.
Adam holds an honors degree in business administration from the National University of Singapore. As an undergraduate, he was ranked among the top one percent of academic achievers and became a pioneer in the Talent Development Program, which is the university’s Gifted program.
Over the last 15 years, he has trained over 350,000 students, teachers, professionals, executives and business owners to tap their personal power and achieve excellence in their various fields of endeavor. Some of his corporate clients include ST Engineering, Singapore Police Force, Ministry of Defence, AIA, Prudential Assurance, Ernst & Young, Hewlett Packard and many more.
His success and achievements are regularly featured in regional media like the Straits Times, the Business Times, the New Paper, Lianhe Zaobao, Channel News Asia, Channel U, Channel 8, Newsradio 938, The Hindu, The Malaysian Sun and many more. He was recently ranked among the top 25 richest Singaporeans under the age of 40 by the Executive Magazine. In 2008, Adam was awarded the NUS Business School Eminent Alumni Award for being one of Singapore’s most successful and prominent business leaders.
Adam Khoo On The Front Cover Of ‘The Executive’ Magazine. Click To Enlarge.
Singapore New Paper Click to Enlarge
On Singapore newspaper: Weekend Today
Click to Discover The 7 Steps To Financial Freedom* That Transformed Adam Khoo Into A Millionaire At Just the Age of 26 here!
