The habit of saving more - Deepstash

The habit of saving more

The key to the habit of saving is to save a bigger percentage the more you earn. When you start, you may only be able to save 10% of your income, but it is a mistake to commit to the same amount if you earn more.

However, it's a losing game to only focus on saving money. Life is too short to only focus on every penny you can save.

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"Many people are in the dark when it comes to money, and I'm going to turn on the lights. " ~ Suze Orman

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Focus on percentage of income saved, not the dollar amount

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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. 

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The habit of saving more

The habit of saving more

One mistake that most people do when they start earning more is allowing lifestyle creep. The ideal way to wealth is to let your expenses stay the same while your earnings increase, which in corollary would mean you create more savings, year on year. Th...

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