Contest Alert: My preferred savings method.

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Savings is the act of using money at present for a not consumption or purchasing money with present value. Savings refers to the process of saving and depositing cash at intervals or in one portfolio for short term or long-term objectives. The saving is a term denoting the power to save money as people or businesses towards future requirements and essential investments.

Some of the things that you may wish to state include; some of the things you like about this method as well as some of the things you will not like about it.

For myself, the best strategy I have considered is to always keep an emergency fund in high yield savings. I use this account in order to save my money as this account is safe place for it and the interest rate provided is quite appropriate to the ones in other banks. The single biggest advantage is that it is very illiquid – it is very easy to access your money if needed. On the other hand there are those disadvantages of this approach; High interest rate of the High yield savings account is not as high as other available investment products, therefore my money earns lesser here.

Therefore, any advice that is given to a person on which method suits them best should depend on the existing financial needs, and the amount of risk that a person is willing to take. If the client seeks to save money and get easy and fast access to those funds, high yield savings account would be perfect. On the other hand, long-term gain with high risk takers can invest through stocks, bonds, or mutual investment instruments.

This brings me to my firm belief that everyone should save in order to achieve a good financial plan. Savings orientation lets a person make their plans successful and guard against emergent situations. Spending money for important events or things is important but it's important to save for future wants and dreams.

An example of the establishment’s importance of saving lesson was an episode with a car repair bill. Nonetheless, the cost of the repair was much more than expected even if it came out of an emergency fund, thus leaving my savings considerably low. A lesson that was one that had to be learned the hard way, and the importance of continuing to save so that one did not have to borrow in case of an emergency.

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How the simple practice of being aware of one’s spending can lead to success.

This little thing that most people today regard as the source of problems is the solution to anyone’s dreams when it comes to finances. Sephping is an art of living, a process which directs a person into a right way to financial planning, an art of living!” That’s why learning how to manage money with mindfulness is opening up and even inviting to set sail on the sea of self realization.

The first way of achieving mastery and goal in the art of saving is the attainment of awareness in the financial choices that we make. When we talk about mindfulness it simply means ‘being conscious of your own self and the environment not in a rushing, hurry type but in a calm manner.’ Mainly, with reference to money, living in the present entails being aware of our overall financial behavior, being able to distinguish those behaviors that should not lead to frivolous spending of cash and coming up with techniques that enhances money consciousness.

In essence, mindful spending means that the we have the ability to gain more understanding of our money and spend our money wisely. This newfound consciousness can protect us from the faux pas of impetuousness and can instead help us put our money to work for us down the road.

Saving is not just about the accumulating of money, this is about learning and growing as a person. And this is where. Choosing the goals is one of the most important and impactful processes in this journey. Target of these goals are still some beacons and very lofty targets which will not be easily achievable but act as a direction of where to be and what to do in order to one get to financial freedom.

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A goal can be as simple as saving for your down payment or as elaborate as starting your own business or having a good retirement plan: its always important to keep a goal in mind to keep your eyes on the prize is important for success in your quest for financial freedom.

The fund of the art of saving is thus in the application of automation and making or creating of habits. With a dollar-cost averaging plan in place, some of your earnings will be saved automatically towards some or all of your financial goals without having to remind yourself to do it each time.

This new habit can also affect other parts of your life expanding the need for structure and order in all aspects of life. There is a ripple effect that you can build and spark right from saving more and that will in turn revolutionize your financial fortune and the opportunities that come with it.

Actually, we need to learn how to save; saving is not only a financial act; it is a spiritual process that means the change of the paradigm from the paradigm of shortage to the paradigm of plenty. When you and I make a practice of embracing abundance consciousness and being grateful, then we are in a better position to realize that money is only an extension of our being.

By practicing gratitude through journaling, meditation, and writing we can change the course of our lives and open our financial consciousness. Its understanding is in that, accepting the idea of abundance in life everyone is going to get more in terms of resources and spiritual blessings hence, wealth and prosperity.

Saving is a method of becoming, an existential process that demands from us to strip off our economic self down to the core and look at our fears, wants, and revulsions. So, do a powerful inner work to discover and dismantle what has stopped you from understanding and living the principles of financial freedom and prosperity?

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This process may involve specifically seeking out helpful therapists, trainers or support groups and activities’ which are oriented towards healing the emotional structure of the character. If we agree to walk this path and invest in our personal change and growth, we will acquire the right mindset, practices, skills and opportunities to activate our money dreams and become the best versions of ourselves.

Soustavlyaneft-art-of-saving1 The saving as art is an incredible and enlightening method of personal development, which can help people escape and win over financial servitude and, thus, guidelines steps to find the meaning of life and contribute to its fruitful and happy accomplishment. If we are willing to be mindful and intentional about our approach to money, eager to set and commit to clear financial goals, able to maintain automated systems which support our financial wellness, open to cultivating abundance and gratitude within our lives, and prepare for a process of change at a deeper level, the answers to the challenges of money and personal finance are within our grasp.

So, what are you waiting for? Step one on the journey of practicing art of saving and learn how to harnessing the practice of mindful saving. Now, your process of growing and achieving financial liberty and prosperity starts.

@radjasalman
@neelofar
@huraira50