Dealing with demoralization when saving money - Deepstash
How To Start Over: Reboot Your Life

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How To Start Over: Reboot Your Life

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Dealing with demoralization when saving money

Once you understand where your money is going and what is left for savings, you may feel demoralised. Even though the amount is small in the first few months, you may be surprised by how much your balance grows in six months or a year.

The power of compound interest is what helps accounts grow exponentially and reach your savings goals quicker.

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Set alerts to work on your finances

From the day you start saving, put a reminder on your calendar once a week to work for one hour on your finances in some way. It could include reading, balancing the accounts, optimizing cash flow, researching funds, etc.

There is no right number of times to check on your ...

589

2.04K reads

Dealing with market fluctuations

Don't get worried when the market starts turning red.There have been a few corrections in the market, but they typically recover in a few days or weeks.

There are times you may want to get rid of a fund or stock, but small changes in the market are not a time to panic.

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Start a financial independence journey

Start a financial independence journey

One of the most challenging aspects to change your finances is getting started.

  • You may have an idea.
  • You may want to read more.
  • You may talk and talk about doing this and that, but then never follow through.

636

3.18K reads

Improving your financial IQ

It takes time to learn and improve your financial IQ, but it is certainly not that hard.

  • Once you have a saving plan in place and your accounts open, you don't want to jump into investing as you risk making beginner mistakes.
  • Teach yourself the fundamentals and visit website...

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"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." ~ Warren Buffett

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The 3-Account Strategy

Three accounts make it easier to get a grip on your finances.

  1. The normal checking account. Use this account only to cover groceries and small purchases.
  2. The fixed costs account. Ensure there's enough money to cover your mortgage and bills fo...

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