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.
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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.
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