There is this popular saying which says that - #small #amounts saved daily add up to huge investments in the future (Margo Vader). Francis Shenstone on the other hand says It’s not how much you make each month that matters — it’s how much you #save along with the flexibility and time outside work that matters. With the above, you can clearly see how important savings is when it comes to our general life.
Many people believe is better to eat their portion of the cake and have it back. This is just not possible. If you have $1000 and you spend it without investing a portion of it, just know you have wasted that precious time at that interval. Even though you are very rich, trust me, you have alreadly lost by not doing it at the appropraite time.
I met a business man some years back, I was about starting my business when someone directed me to him so that he can educate on what to do. He said #my son, I am really happy you deem it fit to come to my place for business advice. I am not the best businessman out there, this visit really means a lot to me - he said. I aired my view and he said, #my son, starting a business is not that easy, you need constitency and dedication to keep up with the #pace. Lastly, to be a good #business man, you have to learn the #secret and key aspect of #business which I popularly called #saving.
Many people out there thinks I am using #voodoo because I am progressing rapidly in this field. Dear #son make sure you #save from any #sales you make. Take for instance, if you #sold a #shirt for $15, and you bought the shirt for a fee of $10. Now you have $5 gain. The gain here should be saved properly, dont think of eating it.
As a business man, if you make gain from your business, instead of passing through different stress of trying to save, just use the gain and capital to restock your business. This really help you in making more gain returns.
Before I digress further permit me to use this opportunity to tell you about #saying.
Saving can be seen as income not spent. It also refers to any income not used for immediate consumption.
The above neatly explains what #saying is. From my own point of view, I will say #saving can be seen as the process where you keep #your business #gain with the motive of not spending it instantly. Once you save, dont
After enlightening us on what #Saving is, it is now time to show you where to save money. Feel free to choose from the one's I am about mentioning. Below are some tips;
i. Save your busines money in Bank: This is the most popular way of saving. 80% of all humans are currently using the bank option to save. Wth this method you can save money that will help you in the future. So get onboard and start saving your business gains there.
ii. Save your money in a secure #savings box. Back then when I was growing up, if somebody give's me money, I will end up keeping the money in my saving box. This helps me to save money which I surely need for future purpose.
iii. Save with Money lender. In my locality, lots of people see's this as a good way to save. They love this system because many of them can',t go to the the bank just to donate $1. The money lender are just like #banks. They will give you their form. This is what they will use to identify you all the time. Before you do anything with them, make enquires to know if they are trusted. Once you see that they are trusted, you can now save the gain from your business with them.
If I am to go with the best way of saving which I stated above, I will choose the #bank aspect. At least they are 90% trusted.
As a business man, I will advice any body that wants to save to follow this procedures.
i. Avoid debt: Use the money you have to engage your business, never borrow money, it might ruin you to the fullest.
ii. Monitor your spending habit: You have to cultivate the habit of monitoring your spending. Like me, I have a dairy which I plan spending routine on. You should endeavor to write down your budge and stick to it monthly. For example, if you budget $390 for spending, don't go above.
If you are about going into business, don't forget to follow some of the fact I stated in this post. You should make plans that will help you to control how you spend your business fund. Permit me to chip in this, when about starting a business, you should seek advice from business men ahead of you.
If you consider this post helpful, while not comment and leave an upvote.
thanks
Post was shared on my twitter feed here
#posh