Savings and Wealth Creation Go Hand-in-Hand
In this world deluged with misinformation, clarity is power. There are times when at the end of the month, you have empty pockets and you start wondering where did all that hard-earned money go. Maybe you spent it on partying extra this month, or maybe purchasing more than required clothes or shoes, etc., etc. The reality is that your savings vanished off and you haven’t yet started creating wealth for yourself. In this blog, we try to put forward, how savings and wealth creation go hand-in-hand and how you can not be in the same situation as you have been in off lately. Do check out our earlier blog 5 Ways You Waste Money for a better understanding of your money. Here’s how savings and wealth creation go hand-in-hand:
Firstly, “A penny saved is still just a fucking penny.” Says Dan Lok in his book, F.U. Money: Make as Much Money as You Want and Live Your Life as You Damn Well Please! This means that keeping your brain focused on savings will never make you think about wealth. The 21st century calls for smart living and that means that you should always be available with certain wealth and certain savings for the rainy days if need be. It is of utmost importance that you start with smart investments today. For example, you can start investments for as low as you wish. Investments in mutual funds, shares, and stock markets are traditional ways wherein you can create wealth. On the other hand, you can also try checking out investments in physical assets, cryptocurrency, and digital gold. Check out Scribox for mutual funds etc.; Check out GripInvest for physical assets etc.; Check out CoinDCX for cryptocurrency; Check out Augmont for digital gold.
Secondly, “We have become a society of indulgent consumers resulting in rapidly increasing debt both personally and as a nation”, said L. G. Durand. Spending your hard-earned money on things and products that you do not need is putting yourself deliberately in misery. Point is that keep a small amount aside every month in a separate bank account and consider the amount accumulated as savings. You can utilize the accumulated savings for further skill development or by traveling to your dream destination or by grooming yourself etc. etc. With these smart savings, you shall be able to spend happily as these are the ones that you thoughtfully allocated for. Check out if you need a Budget App.
Here’s a short poem for you:
Hey, You! Hey, You!
Pursue savings and invest smart,
Don’t just buy stuff, it’s time to get smart,
Think twice before adding something to your Cart,
Yes, it’s time to get smart.
-TeamWIOAI
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