FOURTH article of the series “NOTES FROM THE NSAWAM STREET”, paying tribute to my childhood hood and reflecting on the past and today we looking at savings,
Reflecting upon this topic,Reminds me of an an awesome vacation period somewhere last year, I asked my Grandpa a simple question and the question was "How do I become rich?" he smiled and said "I got to think about the important but forgotten laws of saving money. Because these are the same laws of saving that allowed us to save up for our wedding fund. These laws are actually common sense but seem to have been forgotten by most people – so they never get to save money. Once you know these principles, these laws of saving money, it will be very easy for YOU to save money as well and become rich", he smiled at me and gave me some old pamphlet to read and this is what I learnt from the pamphlet, I’m sure you’re getting excited, so lets get started:
Law #1: Remember the Reason WHY You're Saving
Saving money is NEVER about the money. Rather it's your ability to forego the ordinary for what you find to be extra ordinary.
So when you are saving money, NEVER EVER feel bad for yourself, or think that you’re so "chisel" or "p3p33". Because it just means you’re saying no to things that are forgettable, in order to experience the things that are unforgettable in life!
So before you even start saving money, you need to ask yourself:
“What exactly am I saving for? What is that unforgettable, extraordinary, goal that I will spend the money on later on?”
Law #2: You Have to Segment or Separate Your Money
This means that the place, be it the bank account or the physical location where you keep your money, must be completely separated from where your spending money is kept.
So for anyone who wants to save, having a separate account just for your savings is a MUST. Otherwise, it would be too difficult to do it mentally. Your payroll and ATM account must be entirely different from your savings account. Again, this is very basic and very simple, but it goes a long way when you’re trying to save money.
Law #3: Every pessewa counts!
If you want to save ghc,000,000 – then it just means you have to save ghc, 1,000,000 times! Or save ghc10, 100,000 times!What happens most of the time is that people get obsessed over the amount they have. And right of the bat, they say, “Oh no ghc000,000 or ghc,000,000 – I can’t save that, it’s too high!” And immediately they give up and don’t save anything at all!
But that’s not the case, if you can save 1p. You can save any amount you want to. The process is the same! The things you have to do to save 10p are the same things you have to do to save 100p and are the same for what you have to do to save 1,000p and so on!
Every pessewa counts. Every piece of candy, every movie ticket, every meal at a restaurant, every pair of shoes, every time you say “minsan lang naman”… all of those moments count towards your savings goal.
Great one bro
ReplyDelete