by, Jul 5, 2009 at 09:19 PM (732 Views)
“Happiness is to be found along the way, not at the end of the road, for then the journey is over and it is too late. Today, this hour, this minute is the day, the hour, the minute for each of us to sense the fact that life is good, with all of its trials and troubles, and perhaps more interesting because of them.”
Robert R. Updegraff
Guess I could also share this with you
You look at what you can buy with your salary increase – not how much you can save.
I know many people that have homes to die for. The only problem is that their mortgage is bigger than the house!
The equation is simple – if you increase your borrowings in line with your salary you will be poor when you retire. If you increase your savings in line with your salary you will
become rich when you retire. It’s really that simple.
In the classic book “The Richest Man in Babylon”, George S. Clason wrote that if you saved 10% of your salary every month…you would become rich. Although the book was written
in the early 20th century…it’s probably more relevant than ever.
Save a proportion of your salary every month…even if it is only 1%. And make sure that you cannot easily access it. If you do this…not only will you have some money behind you but you will also get into the habit of saving.
Believe me…once you get into that habit…you will get as much pleasure from saving and investing as you do from spending.
It may seem unbelievable to you…but take my word for it - it’s true!