Savings

We started two days ago by checking how we can all be financially intelligent. A man once said he started saving long before he got married and before his first child gained admission, he had all the school fees saved, this can also be your testimony. To answer our questions from yesterday on what do I have to save? Simply save at least 10% of all your incomes and earnings. Any money that comes to you and that is yours; take out 10% of it!

*SAVE YOUR INCOME:* save 10% of your income after deducting tithe, if you receive 100,000 save 10,000. Don't bury it in your stomach or activities that have short term value, save them, just like we read in our focus for today. That's why there is no difference in the life of some people. No difference from when they received 100,000 and when they received 200,000 because they are always spending all. Some would say the money they received was not even enough let alone saving from it. My answer is, treat that 10% as another expense you must make. Or treat it as a debt you must refund.

*SAVE SURPRISE MONEY:* when surprise or awuf money comes your way, don't squander it. Don't spend it anyhow! Save everything or up to 50% of it! If someone gives you a little change don't eat it up, you were never expecting it anyway, so save it, don't put any budget on it, immediately you get it save it, put this in mind.

*SAVE 50-100% OF YOUR INCREASE:* as soon as the salaries of many folks increase they quickly adjust to the new lifestyle and spend more. They quickly move from their one room apartment to two rooms or flat. They stop eating fish and upgrade to meat. That is a very big mistake. The increment should be an opportunity for you to save for some time, at least three months then you can begin to adjust or upgrade after some time.

Some people have problem with savings, they just can't save without spending. I will tell you what you can do about it tomorrow.

Have a great day today.