Spending, Saving, Investing and Doing Nothing.

One stream of income is enough to help you through feeding on a daily, but it has its limit. It cannot help you get to the position you want to get to financially, unless you are getting paid in six figures.

Save, invest, and do it again.

As children, one financial lesson that our parents taught us was savings. If you were going to be rich or have a penny to your name, it is good that you save boy. While a lot of us learnt this at an early age, a lot of people still struggle with finance generally. Saving and investing, theoretically, is worth the entire time and shouldn’t require burning a lot of effort, but the reverse is true. Savings and investing requires dedication, determination and will.

While we are willing to save and invest our money, our biggest problem remains impulse buying. The inability for humans to say no to anything that comes their way is the beginning of financial destruction. Spending on everything you hope or like is a very bad habit. It allows the individual to spend beyond what is coming in.

Saving could be a good option. When you have more than enough in income, it is good that you save money. When people save, they tend not to overspend. While we talk about savings, some people are unable to save, not because they spend a lot, but they do not have enough to save.

Savings can be very tricky. A lot of people have talked about saving several percentages ranging from 10% and so on, but the truth remains that there is more to savings than 10%. Saving should be used for two purposes; to save for emergencies, and retirements, as well as to invest. If you intend to save for investment, then you need to save beyond 10%. The savings will help you grow your pocket, so you can have enough capital to invest.

Overspending might be worst, but also over-saving is bad. When you save all without any other financial options, it makes it deter growth. Saving continuously, means not investing, which isn’t good for growing finance.