What are the Savings Commandments

by Justin Weinger on August 30, 2012

Saving money is something that many people have a lot of problems with. They overspend, forget to save, want the latest gadget and as such fail to have any money at the end of the month, let alone year. In this article, you will discover that the savings commandments include 3 easy and great ways to save money throughout your day, so that when you come to needing or wanting something really good, you’ll have the funds for it.

The first way, and probably the easiest way, is to save 10% of every piece of money you receive. What I mean by this is that when you get paid at the end of the week or month, put 10% of it straight into the bank and forget about it. Put it into a savings account that you can only access once or twice a year, and this will stop you going to the account every few days to withdraw what you could potentially save. Of course, if you’re feeling ambitious and you have the funds, you could save 20%, even 30% of what you get. But even if you only save 10% of everything you get, you’ll be well on your way to a nice bank balance.

The best way to save money, is undoubtedly the following tip. Want that new iPhone? $400? Ask yourself this: Will it make your life better substantially? Do you actually need it to survive? If the answer is no to either of those questions, then take the money you would have otherwise thrown away on whatever it is you wanted and put it into a savings account. Here, you would have accomplished two very important things, which in time will make you fairly rich. The first is self-discipline. By not listening to the primal need to have everything, you will be taking back control of your life. Not listening to the adverts that are continuously broadcast around the world will give you a sense of self-empowerment, not to mention the fact that you will still have your money that you worked so hard for. The second thing it will have accomplished is that you will have a lot of money for yourself. This can apply to everything – want that magazine? Save the money and read some blogs online. Want some new clothes? Then go to a thrift/charity store and save the difference (if you wanted a shirt that was $40, and you bought one for $2, save the $38 that you would have spent). In absolutely no time at all you will have a large pile of cash that you would have otherwise given away, and this feels fantastic.

Lastly, always remember to pay yourself first. Instead of worrying about bills, spending money or holidays, give yourself some money to go straight into your bank account. This is a good way to build up a base, and help you understand the basics of getting rich.

Remember, self-discipline is important, and without it you will fail, but if you believe you can do it, you will!

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