Saving money, seems like quite a boring topic for a guys page right?
Not at all. Money helps. Money is what makes the world work. Money is confidence. So why not build a cash stash that you can rely upon?
Do I hear a yes?
Well, easier said than done.
The thing is that in many cases people earn an income and at the end of the month do not even know where all the money went.
Now let’s assume that you have to save money on a tight budget, that is even more difficult. You have to put some cash on the side for the case of a rainy day or if you are planning to make some investments. Not just as cash, you can even save your money in terms cryptocurrencies to get more benefits out of your savings. For that you can buy xrp and such other cryptocurrencies.
So how do you do it?
First of all. Dedication.
You have to be dedicated and consistent with your savings. A lot of people start to save money, but after a month or two they stop. In some cases they just spend it all.
Sure you might have some kind of an emergency that you have to cover. By all means, this is what the savings are for. But in most cases people blow it on things they do not need.
So you got to be consistent about your savings.
Second part to why dedication and consistency is important, is to form a habit. You got to form that saving habit. Because when that is formed, you will keep at it no matter what.
Saving money (and even more so saving money on a tight budget) is a marathon, not a sprint. So putting away those 10,20,30% of your income each month must become a part of your personality.
The other part of your personality must be not to spend it on the first thing that you see.
Whenever you are faced with a temptation to buy something – just remember how much more confident and comfortable you feel when you know that there is a cash reserve that you can fall on in case something happens. Feel the freedom it gives you.
The more money you will manage to save, the easier it will be for you to continue saving. You can find a save investment product to put your money over time and see them grow.
When choosing an investment for your savings, do not forget to consider if you may need the money suddenly or not. What’s the Meaning of alpha and beta in an investment? Alpha and beta are two important metrics for assessing a stock’s, fund’s, or investment portfolio’s performance.
At the beginning the amount you saved is quite fragile, so you must take good care of keeping it save.
See how you will feel after savings each time after you receive a salary for the period of 3 month.
I bet that when you try it, it will be hard to imagine how is it possible that you did not do it before!
After you saved a notable amount, you may even start considering various ways of putting that money to work. Or just purely diversifying them to beat the inflation.
You will be another men when there will be a substantial sum, safely kept at your bank account!