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Financial wellbeing can't be measured by only focusing on how much you earn. The gap between what you earn and what you spend is an important figure.
Household savings fell by 30% during a period when median real income rose 40%. Even though Americans earn more than ever before, they have been offset with higher spending.
SIMILAR ARTICLES & IDEAS:
Everybody wants to start saving money as soon as possible. However, quite few people actually do it. This is because saving money implies giving up on the immediate joy that one could feel when pur...
To be able to actually save money on a regular basis, you should first make sure that you cannot touch the money that is intended to be saved.
Ensure this is by keeping your money in two different accounts: a checking and a savings one. The accounts should be at different banks, making it more difficult to transfer the money from the savings account to the normal one whenever you feel like buying something that is not really needed.
Whenever you try to save money, try focusing on the process itself rather than the final goal. For instance, telling yourself that this is a temporary situation might prove extremely useful and help the time pass faster.
From moving up in your career to buying a home. Making smart moves with your money during your 30's can help you achieve future financial success.
Over the long term, it's not as much about the dollar amount you save, but the percentage of your income that you dedicate to saving and investing. By focusing on percentages, you can ensure you're always saving more as you earn more.
Most people react to their finances. The problem with that is that you rely on chance to have enough money in the bank when you actually need it. Be intentional about your money and spend time reviewing and evaluating it. If you don't, you'll never know if you're moving in the right direction or not.
One can develop healthy spending habits and avoid wasting money by using the simple 30-day rule: Whenever there is an urge to spend on something, just wait for 30 days.
One can buy...
Most stores use the ‘SALE’ marketing gimmick (both online and offline) so that we can splurge our money now, instead of waiting.
The system is gamed for us to spend our money wherever we go. We need to stop wondering where our money went and start telling it where to go.