Money Saving Tips: If You Invest the Money Saved from Applying these Tips, Wisely, You could Generate Over $240,000.
If you would be wealthy, think of Saving, as well as getting – Benjamin Franklin
(6) Go to the ant, you sluggard; consider her ways, and be wise
(7) Which having no guide, overseer, or ruler
(8) Provides her meat in the summer, and gathers her food in the harvest.
Do you know that it is a habit for the ant….those tiny little creatures we many-a-times stomp on – To Save for the future?
The ant does not eat all the food it finds, at once. She saves some for the future.
Do you do the same?
My friend, there is wisdom in saving. Learn from the ant.
I know you might probably feel you don’t have money to save, right now, because of all your financial commitments. But there are several ways you can find money to save, despite your commitments or how much money you’re working for, presently.
So don’t feel you cannot save – That you’re not working for enough to save. That is not true.
You can save money from your earnings if you want to, even if you’re working for very little, or the prices of goods rise by 20 – 35%, tomorrow.
You don’t think so?
Follow me closely, and I’ll show you how.
The following is a list of the things we spend our money on:
- Utility: Lights, Water, telephone etc.
- Entertainment / Recreation
All these expenditures fall into two (2) categories:
- Standard Expenditure
- Controllable Expenditure
These are the two (2) kinds of expenditure; we all have to deal with in the civilized world.
The spending, which we can control, are like: Our light bill, telephone bill, food bill, recreational expenses, traveling, and other. These are controllable expenditures. The spending, which is standard, are fixed payments for things like: Mortgage, Schooling, Car loans, etc. (and even these fixed payments with proper negotiating with your lenders, can be adjusted to enable you to find money to save).
If you keep a daily record of your expenditures, both: Standard & Controllable Expenditures – You will know exactly where the money you have worked for is going; and precisely where you can cut back, if necessary.
This is how and where you can find money to save.
Write down exactly how much money you spend everyday, in a book, or on a spreadsheet on the computer, and what items you spent it on e.g. Food, traveling, mortgage, school fees, rent, installment, recreation. Using these records as your guide, you will now know where you can specifically spend less and have some to save.
This is one of the ways through which you can find money to save.
It might feel tedious to do at times – Especially if you have to do it after a difficult day; but be disciplined enough to stick to your bookkeeping. As I said, earlier:
Treat Your Money Like You Would Treat A Business:
Keep Daily Records. – Roger Ali Bocus
Learn from these words, which the wisest and richest King who ever lived (King Solomon), advised.
A wise man saves for the future, but the foolish man spends all that he gets.
There is treasure to be desired and oil (oil was believed to be a sign of prosperity) in the dwelling of the wise, but a foolish man spendeth it up.
He that loveth pleasure shall be a poor man; he that loveth wine (representative of merrymaking) and oil (oil was used often in food preparation in the Eastern culture, then) shall not be rich.
Proverbs 21: 17
In modern terms: If you love pleasure and eating plenty – Poverty shall be your portion.
Balance is the keynote we need to strike, when it comes to our needs and our wants.
He that gathereth (saves) in summer is a wise son, but he that sleepeth in harvest (to have a harvest you must first plant or invest) is a son that causeth shame. Proverbs 10:5
He becometh poor that dealeth with a slack hand, but the hand of the diligent maketh rich. Proverbs 10:4
Okay, you may claim to me right now, “I don’t have enough money available to save, Roger. I can’t afford to save. These Money Saving Tips are good and may work for others, but not me. My situation is different.”
My friend, you can’t afford not to. Regardless of what you may think – You can find money to save.
For instance, what about those snacks you eat every day, or that soft drink you drink, daily? You can drink water and save that money. You’d be healthier at the end of the day – In both your finances and your body.
This reminds me of Dave who swore to me, he didn’t have money to save, yet he was the same person who found money to pay for cable T.V. Disconnect that service man and you will have money to save, every month.
Now, don’t get me wrong. I am by no means promoting a scrooge or miserly mentality – Only a Thrifty one.
The following table is an example of how I found money to save about ten (10) years ago:
But can you see how much money I’ll save from these adjustments, and the huge amount of money I’ll make, if I take this found money and saved it at a compound interest of 10% for 20 years, straight?
In each case: Over $100,000.00. And if I totaled all this found, saved and invested money I’ll have the huge amount of $626,337.05. This result was only for four (4) adjustments.
Could you imagine what the figure would read, if I were to include other changes, which I can and have also made?
You too can make adjustments to your lifestyle, my friend. You will also be amazed at how much money you can find.
There are several other small and seemingly insignificant ways in which you can find money to save.
If you sit down with pen and paper, I’m sure you will be able to identify several things you can do to obtain ‘savings money’. Why not start right now? It’s never too late.
Do you know if you save only $32.00 a month, which is just a fraction over a $1.00 a day, for forty years (without touching it) in a mutual fund, which offers 15% compound interest, your investment would be worth over One Million Dollars? If you want to be a millionaire in a faster time – say in 25 years time at the same 15% interest, you would have to save $308.00 a month, or a little over $10.00 a day – Actually $10.27
Okay, okay! I can hear all you it-can’t-be-done thinkers, saying: “Roger, where will I find $10.27 a day, everyday, for 25 years?”
Hey! Even the man who begs on the street makes more than $10.27 a day. But if you’re still having problems with $10.27 /day, then make it $5.14/day, at least you’ll be half a millionaire at the end of that period.
The following tables demonstrates the Power of Compound Interest on DAILY/ MONTHLY Investments over a period of Time, at the interest rates of 8, 9, and 10%
Table 1 – 8% compound interest
Table 2 – 9% compound interest
Table 3 – 10% compound interest
Now, don’t tell me that you can’t find $5.48 a day (I’m referring to my second table). If you say you can’t, at least if you save half that amount ($2.74) under the same terms, you will have: You guessed it: $92,324.23
Man, you can find that money ($2.74) as unclaimed cash lying idly on the streets.
Just think about all those one cent and ten cent pieces you passed by and ignored, or felt too ashamed to pick-up because of how people might look at you, or what they might say, if you do.
Recently, one worker shared with me, how she saw her boss (the owner of several successful pastry outlets) slowly bend down and rescued ONE LONELY CENT ($0.01) from the car park in front of one of his stores….Neatly tucking it away in his wallet, as if he had found a great treasure.
This is a multi-millionaire I’m talking about. And you tell me you are too embarrassed to take up small change from the ground, or to take your one-cent change from the cashier?
You’ve got to be kidding!
Hate to say it. “You don’t know the Value of Money”.
If you’re still building-a-pressure to do that, then it’s time for me to reiterate: Imagine $5.48 saved each day for 25 years at 9% compound interest works up to: $184,648.46
Got the picture?
Hey! Hey! Stop waiting for quick, miraculous riches to come your way – You can earn a lot slowly.
As my tables have shown you – You don’t need plenty to start. Just a small amount (a few dollars) saved daily and invested wisely, can bring in some really tidy returns. But you do need to be patient to reap such rewards.
And friends, please, please, please make a definite commitment not to touch this saved money as soon as it begins to accumulate into significant figures. The only exception should be: You have reached your targeted financial goal.
The Mathematical Principle I have shared with you here, is called: The Principle of Time and Compounding. And as you can see from all my previous calculations, the earlier you start at saving wisely, is the better financially prepared you will be to face the future.
However, don’t you dare use that as an excuse not to apply these ‘Money Saving Tips’, or to be discouraged from saving, because you are probably in your mid-thirties or older, and think it’s too late to start. That’s the poorest excuse I’ve ever heard. It’s never too late to start saving.
Well, what are you sitting around moping about?
Get to it!
Stop waiting for a whole lump-some of money to magically fall into your lap, or for you to win the lottery before you start saving.
Those few dollars stashed away in a savings, which offers a fair amount of interest, will work up to plenty in years to come.
START TODAY! START TODAY!
|Every ‘Today’ You Put Off For ‘Tomorrow’ You Will Live To Regret In The Future. – Roger Ali Bocus|
I know you want microwave wealth with no effort or work on your part – THAT RARELY, RARELY, RARELY, RARELY, RARELY, EXISTS, my friend.
Do you get my point?
Your chances of that happening are probably one in millions. You would be better-off putting that money you’re throwing-away on gambling, every day / week, in an account, which offers compound interest.
What’s that you’re saying?
“I know of individuals who have won millions in the lottery and didn’t have to work for it.”
My friend, when will you learn?
If that is your mind-set, don’t you know that many wasted years (without success) will pass you by aimlessly waiting for that one lucky ticket to rocket you to overnight wealth?
Why can’t you just apply the more sure method?
A Dollar Saved A Day Will Afford You Financial Peace Tomorrow. – Roger Ali Bocus
My friend, don’t you know you are the one who hold the keys to your financial success, but it’s going to come through applying financial wisdom, not investing your money in every quick-rich scheme (gambling or otherwise)?
Simply apply the wisdom I’m sharing here, and in time, you would be testifying to me of your many successes.
Before I move on, though, let me reveal one more Principle for accumulating money: It is called the Power of Duplication. I’ll give you an example to help you understand how powerful this Principle is.
If you were to take $0.01 and double it every day for thirty (30) days, straight – How much money would you have acquired?
(Don’t worry that mathematics is not your favorite subject – I’ve already prepared a table for you, to demonstrate how much you would have). It’s mind-boggling.
|Day 1||$0.01||Day 16||$327.68|
|Day 2||$0.02||Day 17||$655.36|
|Day 3||$0.04||Day 18||$1310.72|
|Day 4||$0.08||Day 19||$2621.44|
|Day 5||$0.16||Day 20||$5242.88|
|Day 6||$0.32||Day 21||$10,485.76|
|Day 7||$0.64||Day 22||$20,971.52|
|Day 8||$1.28||Day 23||$41,943.04|
|Day 9||$2.56||Day 24||$83,886.08|
|Day 10||$5.12||Day 25||$167,772.16|
|Day 11||$10.24||Day 26||$335,554.32|
|Day 12||$20.48||Day 27||$671,088.64|
|Day 13||$40.96||Day 28||$1,342,177.20|
|Day 14||$81.92||Day 29||$2,684,354.40|
|Day 15||$163.84||Day 30||$5,368,708.80|
Do you see for yourself the Power of Duplication?
By doubling just one cent for thirty (30) days, straight – You have $5,368,708.80
As I told one guy, “The secret is to know ‘How To’ duplicate that one cent for just those thirty days”.
You might probably feel you are able to easily make it up to Day 15 or 16, but if you can discover how to go beyond that – You’ll be a millionaire in 28 days time, starting with only one cent.
You can begin today, you know.
Right now while I’m typing this it’s the 16th of May 2009.
What better time to start than right now?
I’m leaving you to rack your brains with that one.
So far we have talked about The Principle of Time and Compounding and The Power of Duplication, either one of these Principles can provide for you comfortably. But they require you to: Save in times of plenty – Avoiding waste…And to save in times of little – Not out of fear, but following the decree of wisdom.
To prove my point – Try this experiment:
Why don’t you joggle your memory, as well as check your pay slips to calculate how much money you have worked for, so far, in all your working years.
I trust you have kept all your pay slips since you began working, right?
Don’t tell me you’ve thrown them away, you know?
Alright, now that you’ve had your little fun – Back to checking.
Do you have the figure, yet?
Okay, okay, take a little more time to retrieve it.
Got it now?
Can you believe your eyes? Can you reckon with the fact that you have worked for so much money, and yet you have very little (in comparison) set aside to account for it?
One guy told me with regret and frustration that his own worked up to be more than a million dollars.
“Where have all that money gone?” He lamented.
“I don’t even have 2% of that money saved”, he said.
Do you understand what I have been laboring to say to you, now?
I’m lingering on this subject because I’ve heard the miserable regrets of individuals who have chose to ignore this type of counsel. Bob was such a person. Read his story and learn from his mistakes.
Bob’s prime philosophy for life was: “I’m living one day at a time”.
This philosophy he mistakenly applied when it came to planning and preparing for his financial future. He didn’t save for his retirement. He lived just for the moment. He spent all the money he ever worked for up front, despite the constant warnings and sensible financial advice he received from his coworkers.
Before Bob knew it, sixty (60) years just flew by like a few yesterdays, and he was now attending his retirement function…..With hugs, firm handshakes and kisses……Everybody wishing him all the best – Unaware of the fears, which were gripping his heart, and the hundreds of anxious thoughts, which flooded his soul – Searching for instant solutions for an apprehensive future.
Oh! How he lived to regret his poor decision. He allowed his wrong beliefs about life and money to affect his actions, and his actions impacted upon his financial future.
Do you know what happened to Bob and his family, my friend?
Here’s how Bob’s failure to respond to his coworkers advice about financially planning for his future, affected him, his wife and children.
- He had no present savings – Not even $1000.00
- When he retired he had no saved money to maintain his lifestyle.
- When he realized he made the wrong decision in his younger years, he tried to catch up by contributing to a pension plan when he only had three (3) more years to work before retirement. But because he started so late, all he collected was $144.00 pension a month to maintain himself and his family. And to make matters worse neither Bob’s wife, nor any of his children were working at the time of his retirement.
“How am I going to continue to support my family on this meager monthly pension?” He anxiously thought.
My friend, Bob’s desperation and hopelessness placed so much stress upon his heart that he had a massive heart attack, and died only nine (9) months after his retirement – Leaving his family without their own home, and no money to buy even their daily bread, and an outstanding food bill at the shopkeeper.
Friend, I cannot finish this story for you. It ended with too many heartaches and sorrows for his grieving family.
However, is this the kind of future you want to be waiting for you at retirement?
Be certain: It’s the kind you will experience if you don’t financially plan for the future now!!
Do like the ant, my friend, who not only provides for its family for the moment, but also gathers for the future. (Proverbs 6: 6 – 9)
When you fail to make plans for the future, you are not only affecting you – You are also affecting the lives of others who are, or who will be depending on you.
If Bob was making contributions to a pension plan, which offered at least 10% compound interest from his younger days till retirement, he would have had over $350,000.00 (depending on his contributions) at his disposal to maintain himself and his family.
Are you getting this?
Are you motivated now to prepare for your future, financially?
Have you made a commitment to save, now?
Then start with where you are with what you have. Even if that is only: $0.05, $0.10, $1.00 or $100.00…
Before I close this chapter, though, remember this:
Even though we are encouraged to save (AND IT IS IMPORTANT THAT WE DO), yet I want to remind you that our savings no matter what form it may take is not our source of supply: GOD IS! GOD IS! GOD IS!
The above piece was taken from the book ‘How To Make Money Today, Tomorrow & Everyday’.
Obtain Your Copy Now by Clicking on the link above or Left-clicking on the book cover on the left.