When you earn money or you are given free money, what is the first thing that comes to your mind?
Well, yesterday I sold some SBD and immediately the money hit my bank account, I remembered I had some debts I have to pay off, I also thought about changing my wardrobe and giving some relatives Christmas gifts. Huh! with all these coming to my mind, the money won't be able to handle half it let alone having a portion to save or invest.
The ability to save or invest is a choice. It is something you deliberately do, not because there are no other things I do with the money, but because you have made up your mind that you will always save and invest a certain percentage of all your income.
Human wants are insatiable so don't expect to satisfy all your wants before you start saving or investing. Don't focus more on paying-off debts than you do on saving and calculated investment.
Being in debt is not good, but you could pay them in a more convenient way if you use your money wisely. Three months ago, I had lots of debt hanging around my neck, when I started earning money, I didn't rush to pay off the debts. I saved, invested and spent very little from the money. In less than one month, I was able to double what I earned and it became easier paying the debts and still have something in my savings.
Before you spend any money that comes your way, set out a portion to save and a portion to invest. Though, not just anyhow investment, but something you have calculated the risk and everything involved.
The key to overcoming spending more of your money is to always think about the future whenever you get money. Delayed gratification won't kill you. It has not killed anybody. Only learn how to concentrate on necessities. You are not permitted to spend extravagantly until you have attained the height of financial freedom. Yeah, you can give yourself a treat from time to time, but that should not be an everyday thing.
The life you're living today is as a result of your past choices and that of your parents/partner. Your decisions today will determine what the future holds for you. Think wisely.
My Quote for Today
Some of the poor people you see today once had the same opportunity the rich had, but their lack of financial intelligence dragged them down to the shackles of poverty.
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Very true, human wants are unlimited, but the means to satisfy human wants are scarce.
So so true
Thank you Jareeey,BTC SBD and STEEM, na another betta example wey i fit take qualify wetin you post, early dis year i been get plenty BTC but i rush sell am out, because i no get mind to invest, now 1 btc dey worth 19,000usd, if i check the history of my bitcoin wallet transaction wey i just spend any how, E go be like make i cry. See sbd and steem now see as them moon. As of last month wey i just dey sell sbd for 250naira now sbd na like 5k for 1 now.
I don learn from dis your post i swear, if to say i invest that time as you talk, By now i for dey chop hot amala. @ogoowinner you make sense wella, Who get ear don code wetin you talk.
Bros I lyk ur way scarra...I don dey follow u, Abeg make u sef try follow me back make we gel Wella, I get tins to learn from ur government
Lots of money= Good life.
Thanks friend for your post it's very motivational post.
You are welcome.
You are welcome my friend, I have a new post, do not forget to visit ya, let me add the spirit in steemit.
Nice guide .. Thanks for sharing
Thanks for reading.
Thanks for the insight.... But I think I prefer investment to saving... Watch do you think?
Both are important. I do both of them.
Mehn, its not easy saving with a whole lot of debts.. When next i want to spend, i will think of the future.. Thanks for sharing this.
Lots of money= Good life.Good job
Çok güzel olmuş ellerine sağlık hocam
I had this temptation a few days back, while I'm still calculating risks, i had to settle with savings
Thanks for sharing
I very much learned a thing or two from this. Thanks for sharing.
I got somethin
Thanks for sharing
Developig a savings culture is one of the most critical things every dreamer or visionary must learn. While investment is good but poses some sort of risk because no one has a total control over the market. The market doesn't care about anyone or who you are or where you are from and that's why it's important to dedicate some money to savings too.
nice pos 😁
this post is more than helpful especially in this Xmas period stem on der.
i too did the same change sbd and invested quickly in other alts and holding them :) a dollar saved is a dollar earned :)
Wow....so helpful and educative
@ogoowinner you just said it all
nice one.......really educating........keep steeming bae
Thank you so much Ogo for this reminder, especially as the price of SDB skyrockets, let us know that we owe ourselves the duty of making good use of this wonderful opportunity.
Any one who will have a future tomorrow must be able to save today. Thank you for sharing
Hmm... my bank is always using the hashtag #savetoday after withdrawals. LOL.
Great post, thank you for the reminder. #OWB
@ogoowinner I strongly support your quote viz.
"some of the poor people you see today once had the same opportunity the rich had, but their lack of financial intelligence dragged them down to the shackles of poverty."
I reesteemed this post if not for anything but for the knowledge in it. After reading books on financial intelligence, I can sincerely tell of the benefits.
I just fortunately ran into your blog.
Thank you!
@ogoowinner, @ionlyspeakpidgin has said it all. If I begin thinking of the amounts of BTC I cashed out (or worse, lost in ponzis) in the first three months of this year, nna eh, I go run mad.
However. Past is prologue. We here now. We move. New opportunities arise, we learn and we tell a different story next time 💪
And yes, savings and investment are absolutely critical to ever reach financial freedom. More specifically, I have learned to spend after I save rather than save after I spend.
I have friends...
Who made close to millions during the bitcoin revolution...
When it hit 5K dollars then....
They cashed out and they began to spend....
Now they are flat broke like broken bottles in a tyre
nice post and i love reading your article
Thank you very much for this. Just some days ago some real cash entered my bank account and because i had some real debts hanging on my neck, i spent so much trying to offset them because i thought that was the best step to take. Now i am back to where i was as if it was some months back the money entered. Thanks so much for the insight! I won't such a mistake again in my life. Some said POOR means: P-passing O-over O-opportunities R-repeatedly.