How do you do it when, like me, you don't come from a million dollar family? You save money! Today, we're going to start from the basis of personal enrichment: how to save money to become rich and gain financial freedom? How do you build up a starting capital when you have nothing? Basically, how to earn more money? No bullshit, I give you all the tips that work.
My first piece of advice to get there: before you make a lot of money, stop overspending and start saving. Try tracking your expenses with an accounting software. Nothing complicated: just make a table in Excel to visualize your expenses and receipts. Keep receipts, categorize them, make charts. This will allow you to make weekly, monthly, quarterly reports, easily to compare your situation. You'll see, there's nothing like it to make you aware of your real expenses and reduce them. It is also very motivating to see on your bank account that your efforts are paying off. No secret: small amounts make big money!
Saving is a habit, a small daily reflex. There's no need to spend your time on cheapskates.com or to collect coupons to replenish your savings account. Without depriving yourself of everything, try to find the small or large daily expenses that make you lose money. For example, 3 tips:
Spare the difference, you will see that it is not negligible! Personal wealth comes from a snowball effect: you can start from nothing and gradually increase your income.
As soon as you receive your salary, set aside a portion. It may vary depending on the amount you receive, but even a small amount counts. You may be thinking that you don't earn much, that you have too many bills to pay to take it directly from your salary. Let's take the example of a salary of 1000 euros. If you take 10% of it, that's 100 euros, or about 3 euros a day: your standard of living won't suffer. Does this still seem unfeasible to you? You will never be without a contribution again. Think about your goals, you can achieve them if you are strategic.
Saving is good, doing something with your savings is better! Keep in mind its purpose: money is a tool, not an end in itself. This kind of positive thinking gives you a rich mind. Accumulating for "later" is not the wisest choice. As Keynes said: "in the long run, we will all be dead". Money is also made to live, to realize your dreams and projects. So you need to gain confidence, get out of your comfort zone and act.
