Good Day to y'all Hiveans ✨ it's another beautiful week running as fast as it can and I hope your finances are doing same ??
Ok on today's episode of money talks with Stevewealth, I want to talk about the financial ladder and how to climb it by being intentional about your finances and your savings.
We're going to take it simple and straight to the point this time around.
I have often had discussions with friends about the most important things in life. And some other time a friend asked me what the true currency of happiness was as he explained that money couldn't buy happiness.
Sometimes when you're talking about money people think money is the only thing you think about, but well, that may not necessarily be the case, but it could be that money is the only thing they are not thinking about. And that may be the reason their finances are so messed up. While we spend so much of our time thinking about our wants, the lacks, the fears and worries, the uncertainty of life, how we want to save the world with whatever we posses, we forget about the ultimate solution, the means to the end and how important deliberately working on your finances can take you a step towards actualizing the goal.
One of the things I've come to understand and which I believe so much is the fact that there's enough resources in this world. And another thing is that for one to become anything special or make anything special of himself or herself, it all requires the concious use of resources.
Savings and Investment: Your Gateway To Financial Security
Very many people complain of not having enough, that's the major problem of the world. A world problem that economists have studied for centuries and haven't gotten a solution yet "Scarcity"
I sometimes wonder why the world focuses so much on studying lack and scarcity, maybe that's the whole problem. We have so many literatures dedicated to the study of wants, scarcity and insufficiency. Hardly do we think of abundance, or how to deal with excess. And that's the more reason a lot of people find savings so difficult. It's a very difficult discipline that is not easy to imbibe, but fortunately it's the freedom that we all seek after.
Going that path of discipline isn't always easy at first, but with repeated effort and consistency, every penny saved becomes useful in the nearest future and brings you closer to the desired goal.
Understanding that it doesn't cost you so much to live a little less on what you normally survive on, cutting down excesses and getting rid of recurring debts and bad debts will set you in the right direction for a purposeful savings.
The Power of Financial Security
Financial security is the cornerstone of a stable and fulfilling life. By saving consistently, you create a safety net that can cushion you against unexpected expenses and emergencies. Having a financial safety net not only provides peace of mind but also empowers you to make decisions based on your goals and aspirations rather than financial constraints.
Investing for long term growth
While saving money is crucial, investing can take your financial growth to the next level. Consider exploring investment options that align with your risk tolerance and financial goals. Diversifying your investment portfolio can mitigate risks and potentially yield higher returns over time. I will always advice that you seek guidance from financial experts to make informed decisions about where to invest your hard-earned money because one of the things that weaken financial goals is losing your money in an attempt to make more money. Although they provide valuable lessons for the future, it's a hard way to learn I must tell you.
Teaching the Next Generation
Passing on the value of saving to the next generation is an investment in the future. Educate your children about the importance of financial responsibility, saving, and smart spending. Instilling these values early on empowers them to make informed financial decisions and sets them on the path to a secure and prosperous future. Money habits is one very important aspect of life that is hardly taught in institutions, and even when they do, they focus on the negatives, hence the need to intentionally pass on these values to future generations.
In the fast-paced world we live in, it's easy to overlook the significance of saving for a better future. However, the benefits of financial security, goal achievement, and peace of mind make the effort well worth it. Start small, be consistent, and watch your savings grow over time. Your future self will thank you for the thoughtful and intentional steps you took to build a brighter tomorrow.
Yourfinacesmatter
Moneytalks
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