Wednesday, February 13, 2013

How Earning Deficiency Syndrome Makes It Hard For Saving?

The plans of the diligent lead to profit as surely as haste leads to poverty – Proverbs 21:5
How Earning Deficiency Syndrome Makes It Hard For Saving?
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 earnings are usually shared out to account payable that we need to address including but not limited to 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>>
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