As someone who is still building a financial empire, you should prioritize saving money no matter what. Whether you are an experienced employee, a fresh graduate, a businessman, or an investor, you must not stop saving and investing as this will eventually help you achieve your goals of having your own house and lot, car, or millions of investments. Saving money is something you should do seriously because your future lies upon it. Without financial plans as early as now, where do you see yourself in the next 10 to 20 years? Imagine your life without savings and investments. It’s not a good plan to just rely on your monthly income. Start putting your money in a plan that will give you a good life after several years.
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Being a thrifty person doesn’t mean not spending at all. Of course, there are exceptions to the word “thrifty.” Being a thrifty person means you have more chances of saving a higher amount of cash than those who spend carelessly. And when you put your money in an investment, it’s even a greater benefit because you will have more investments as you save regularly. You can easily save if you are a thrifty person and that’s a very good thing. Who wouldn’t want to have big savings? Choose thriftiness over expenditures.
When you are a thrifty investor, you think of your investments more than you think of spending for your wants. This means you will rather put your 5,000 pesos budget for a pair of Nike shoes in an investment account. This can also mean cooking your own food at home for lunch so that your meal budget could go to your savings account. If you become thrifty, you can prioritize investing regularly.
You can have extra cash whenever and wherever you go if you are a thrifty investor. Unlike spenders, you won’t have to struggle to budget your money paycheck to paycheck. Even if you only have one channel of income, if you are thrifty, your money will last longer and “petsa de peligro” won’t matter anymore. Just remember that being a thrifty investor means sacrificing a lot. Sacrificing your every cup of Starbucks so you could have money in your savings account and choosing to invest regularly than traveling every week or month. But remember this—at the end of the game, you will have more than privileges when you save now than if you do it later.