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The Secrets To Saving

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One of the most powerful secrets to saving money is understanding sensory adaption. You will adjust to almost any increase or decrease in your lifestyle after a short amount of time. This means you will always want more.

By understanding this and applying the practices I’ve previously described in lifestyle foundation and lifestyle inflation, you can do a lot for your savings and more importantly, you can invest that money. By understanding sensory adaption, you can see exactly how you can cut back on things without feeling like you’ve lost something, and you can avoid the need to buy new things knowing that need will never be fully satisfied.

Once your senses have been exposed to something for long enough, they adjust. This means that anytime you improve your lifestyle and spend more money, you will eventually find that to be the norm. Similarly though, if you pull back and decrease your spending, for example, not eating out anymore, you will find that eventually to be the norm, and save a lot of money.

I’ve previously written about lifestyle inflation & lifestyle foundation here: https://read.cash/@scottcbusiness/lifestyle-inflation-or-lifestyle-foundation-41121595

To summarize, lifestyle inflation is what most people do, whereas they earn more money they spend more money and end up with little to no savings or investments. While they may be investing in a home, it may be one they could not afford without depending on their income heavily with little to fall back on. The main concern is that in doing this, you can never get ahead, and if you get sick or something bad happens, you could lose everything.

Lifestyle foundation is cutting way down and focusing only on the main things you need to have fulfillment and value in your life and saving the excess to invest with. Build a foundation, and do not upgrade your lifestyle when you acquire more money, save and invest.

How do you save? Do you practice lifestyle inflation or foundation? Let me know what you think about this in the comments below and don’t forget to subscribe!

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Comments

Can i ask something. Why my post aren't getting views?

$ 0.00
3 weeks ago

Great artical ; thank you

$ 0.00
3 weeks ago

Everything you said was ,right,by the time we receive money,we spend a lot then it come to the point there was no money left for savings.For me i find it hard to save money when you just had enoug income each month.

$ 0.00
1 month ago

Resourceful. Thanks for putting it together

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1 month ago

Lifestyle foundation it is.. I dont know but things I realized is that Those two are connected. Thanks for the imformatiom.. Its huge help for starters likes me

$ 0.00
1 month ago

Is there any saving option when it comes to crypto investments?

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1 month ago

Well, nice article. But how do I know that I can save during my lifetime if a gov could block my cryptos?

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1 month ago

I guess I'm more on lifestyle inflation. But after reafing your article and the other article that you have tagged here, I realized that its about time to build and start my lifestyle foundation. Thank you for this wonderful article!😊😊😊

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1 month ago

This piece has helped me to understand why it is a challenge for people me inclusive to save even when they have additional income. The tendency to want to 'upgrade' while jettisoning investment can only be curbed with discipline and focusing on the long term goals for one's life.

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User's avatar M3i
1 month ago

One of the ways I try to save/invest more is by staying broke most of the time.

When I get any money that's not budgeted for any immediate living expenses I put into an investment.

Leaving myself empty and having to hustle to get what to live on for the next few days, weeks, or months as the case may be.

That way you find yourself constantly on the hustle mode.

But I don't encourage starving oneself or that kind of stuff just to save money.

Jus that you leave yourself no room for excesses in the first place.

So even if you want to, you cannot overspend because the money is not available to you.

$ 0.00
1 month ago