Power-save Your Way to Financial Freedom

By Acceler8now.com Investing Education Team September, 2007

Saving is one principle of life that its centrality to a successful, happy life has never been in dispute. In one sense, its' simply natural to want to keep something for tomorrow. Saving for the rainy day is one of the popular usages. In the traditional setting, no sane person exhausted his barn. Your reserved part of the harvest for planting in the next season and you never forgot that you must have what to eat when planting is done, until the harvest season. Even after people deserted the farms and went after white- and blue-collar jobs, the value of saving part of the 'harvest' has never been lost to any serious worker.

Unfortunately, the pressures of the new life are always posing a challenge. Quite often now, they succeed in derailing an individual from applying the age-old principle that assures sustenance and regeneration. People suddenly forget to keep for tomorrow or are just unable to. Getting overwhelmed by the demands of subsistence and staying engrossed in immediate livelihood, to the detriment of tomorrow has become the undoing of many. To worsen matters, for most of us, it's really the failure of will that is responsible for the predicament.

But you, is it easy for you to save? Let's really be honest, have you been saving at a satisfactory pace? Unless you want to engage in self-deceit, you will acknowledge that saving is a tough, difficult action to take. If it wasn't, most people would be multimillionaires. The reason is that a lot of money has passed through so many pockets that may not be very deep today. Money is a fluid thing, always wanting to be in motion, changing hands. We all love to see money change hands too. Okay, may be not. But we love to see money deliver things to us: goods, services, family needs, adoration by others, their gratitude, security, prestige, joy, fun, you name it. Problem is: there is hardly ever enough to meet these desires which, most times, are very strong. Most times, very pressing. Most times extremely urgent and can't wait. Invariably, saving doesn't stand much chance. These other interests crowd it out, choke it off the agenda, to a corner where it's not seen or remembered. If you think seriously about it, you possibly aren't to blame for not being able to save in the face of immediate, pressing needs. Right?

Maybe not exactly. It could be tough, but some people learn to cope, somehow. Some master the management of resources, such that they are able to face those same pressing demands on their income and still save and invest to the point that they finally become truly wealthy and more able to meet their spending needs. Unfortunately, if you don't save, you can't invest and if you don't invest, life's going to be tough, down the road. Is there a way to it? Are there strategies that are learnable? Wouldn't it be great to build financial power and really be in a position to confront these needs with ease (once and for all), than live in endless wrestling with financial troubles? Must one struggle through life as destiny or is it within one's powers to organise his finances in a way that eventually makes life more livable? We won't pretend any of these is an easy question or that there is a short-cut to financial success. The good news, though, is that there is proof, in results already achieved by others, that individuals can take control and shape their lives. It is possible to achieve relative financial comfort, by learning and applying financial success principles already 'perfected' by man. So, won't it be a tragedy for you to live with proven solutions to a challenge and still get drowned in it, unable to grab handy life-savers? Our desire is that you learn, if you need to, and get to live better, in control of your financial trajectory. Hopefully, you want to, too.

So, power-save to financial success. Your saving power is as important as the income-generation capacity in defining your chances of advancement to financial freedom. To accelerate your progress, you need to get the two important pivots into strong conditioning. Here are two strong reasons why you must complement your income-generation effort with a solid saving programme:

  • You Need Retention to Accumulate
    Your income growth could be outstanding and that is desirable. But if you can't hold what you earn you will fail to accumulate. You will simply be like the basket that cannot hold water. When the hour of reckoning comes, you may not be much different from those who earned little. Okay, except for the great fun you had spending money. If your income is not that sizeable, you are even in more trouble not learning to save.
  • Asset Growth Needs the Seed
    You sow a seed to achieve growth. Saving provides the seed capital for investment, the foundation for your financial growth. When you fail to save, market opportunities for financial intervention will come and go and you will be a mere onlooker. Your ability to save will catapult you further be enabling you key into investment opportunities that arise. That's the double-benefit. And that will easily set you up for financial breakthrough.

So, think about it. Isn't it better to endure a bit and build the financial strength you need? Nothing good comes easy. A deliberate choice is often imperative.



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