by Arthelo Palma
The plans of the diligent lead to profit as surely as
haste leads to poverty – Proverbs 21:5
We have heard many excellent words telling us that saving is good for us, but there is an actual real problem that we need to face. It is hard for us to save in the first place. Today, I want to share with you the importance of understanding the lack of income and its potential link to our inability to save.
Earning deficiency syndrome and saving
It is hard to save when we are continuously lacking of income
from time to time. Aside from our personal needs, our incomes are usually
shared out to account payable that we need to address including our monthly
bills, debts and other expenditures. The lack of earning based on most of our
experiences results to shortage of budget, and sadly might be due to allocating
a payment program for our debts alone.
Some reasons of having inadequate income might be personal
or generally a poor economic condition. A nation with poor economy could be out
of our individual control, but one thing is clear; we have much rule of
ourselves when it comes to our financial concerns.
Our right attitude in spending could hinder our chance to be
deficient in our earning, allowing us to have the opportunity to save at least
a little portion of the pie. Above all, just spend on what is essential, our basic
necessities. The feat of this move would mean successful evaluation of our
prevailing lifestyle. Are we spending more than our income capacity for
unnecessary things? Always think it twice before you make a move. Now is the
time for us to evaluate if it is essential to buy a new cutting-edge mobile
phone gadget, invest in a car plan or deliberately take a plunge into an unwarranted
luxury.
In addition, there are many untapped potentials in us that
we need to unearth and maximize. Sometimes procrastination makes it impossible
for us to earn more. It could also during this time that we might be tempted to
spend a great deal. If we do not busy our hands, but are too obsess with
comforts and pleasures, there could be a great tendency for us to spend way
beyond we earn. Instead, we should have the joy of making use of our talents or
skills that could lead us to incur an additional honest earning.
Now let us add to our list the idea that would allow us to
evaluate if we have the right investment. Investment is a broad subject in
financial planning, but once we get to know it better, we will learn to realize
that it is all about making our cash flow healthy, preventing us from crossing
the threshold of the danger of imminent bankruptcy. If we are only attentive to
how we can save, but have closed our mind towards investing, we are just
placing ourselves to become more vulnerable to end up having poor savings. Enclosing
ourselves with the right investment and saving at the same time is a proven
strategy to head us to financial freedom. You should consult a qualified
financial adviser concerning the right investment that would lead you to more
savings in the future.
Now you should think big and believe that with God’s
abundant grace, it is possible for us to acquire a stable financial future.
photo credit: Images_of_Money via Flickr cc MORE IDEAS HERE>>
