Smart Money Saving

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Smart Money Saving Saving Money might sound very easy for many people but, it is really just lending your money to the bank or keeping it in a safety stash? The answer is no. Saving money must be done in an intelligent way so you can maintain your standard of living and keeping you making big sacrifices. The usual way of just storing money is a big mistake because eventually, you will need that money if you don’t save it strategically. In this essay you will know the three main requirements to a smart safe money plan. The first thing that must be done is being clear how much money you earn and spend. You should be clear of all the incomes you have during a year and then during each month in order to control all of them including money gifts from relatives or not monthly incomes like companies shares. After that you should do the same exact thing but with your expenses, monthly expenses and year expenses that can be movie tickets, the rent, even the dentist that is just twice in a year. Finally you must list your expenses and reduce or eliminate the ones that are not necessary and don’t affect your standard of living creating a balance; “Avoid extremes: be moderate in saving and in spending; an equable and easy gait.” (Service) Previously you developed the control in your money, now the objective is giving the saving a “salary”. This salary concept is just giving away a percentage of your monthly income to the saving account and this should be permanent. The idea of creating this habit is that later you will not count with that percentage for the daily expenses; it doesn’t matter if it is only the 1%, as Benjamin Franklin said “A penny saved is a penny earned”. (good reads) The idea of all the strategy is the control of the money; this is why you must get more informed about the topic. Reading books is a good way to know better how to control your money and

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