Grow Your Money Tree - Deepstash
Grow Your Money Tree

Grow Your Money Tree

Or savings tree.

  • Prepare your own food instead of spending money outside.
  • Cancel some extra subscriptions.
  • Spend every penny consciously (needs vs wants).
  • Don’t buy anything on EMIs. Go for full payment.
  • Follow the 50-30-20 Rule- Spend 50% of your monthly income on your needs, 30% on Hobbies and entertainment, and save or invest the last 20% for the future.

In his book Focal Point, Brian Tracy gave a simple success formula.

  • Improve yourself or your earnings by 1/10 of 1% each work day. After a week, improvement goes to 1/2%, equalling 2% each month and 26% each year, and gets double in 2.9 years.

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rdx

Just another homo-sapien

I found that Compounding is vital across various aspects of life i.e. finance, education, health, skills, productivity, personal development, emotional well-being and relationships. In essence, compounding serves as a foundational principle that magnifies progress, allowing gradual, sustained efforts to yield remarkable results across diverse life domains.

Similar ideas to Grow Your Money Tree

The 50-20-30 rule

The 50-20-30 rule

It is a budget rule to help people reach their financial goals. It states that:

  • You should spend up to 50% of your after-tax income on needs and obligations that you must-have or must-do.
  • The remaining half should be split up between 20% savings and debt repayment and 30% to ev...

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