There are many ways to practice and train yourself to save money and invest for your future. If you love to overspend your money, maybe this is the right time to think what’s really going on to your finances. In every areas of life, whether it be on sports or work. You need constant practice. As the old saying goes, constant practice makes perfect. In a game of life, there is no big difference between achieving financial freedom and playing in sports. They both require self-disciplined to win succeed.
Here in InvestmentTotal, my mission is to spread financial literacy. This guide is just a personal “personal finance”. You still need to consult with financial experts or to a certified financial planner because in saving and investing money, there are things to consider such as insurance, emergency funds, etc.
Things Needed in Saving Money
You have to prepare at least $100 (all coins), a piggy bank and a bank account later.
How to Train Yourself to Save Money and Invest?
Step #1. Get your coins and put everyday in your piggy bank. Do it twenty one times, no exemption. Do not forget it. Forget everything but not the piggy bank. Do it in the morning when you awake. Don’t do anything after you awake aside from putting some coins in a piggy bank.
This simply means, saving money in the piggy bank is your priority. After you did the first step, go anywhere else, do what you want. Work, play or eat. You shouldn’t missed this activity every morning within 21 days period.
Step #2. After 21 days, break the piggy bank, collect your coins and open a bank account.
Step #3. Repeat the step #1 (buy a piggy bank, put a coin everyday when you awake within 21 days). Do this cycle within 21 days. How many days should you put coins in a piggy bank? How many times will you deposit money into your bank account?
21 Days X 21 Cycle = 441 Days to Put Coins in a Piggy Bank
21 Times to Deposit Money in the Bank
1 year and 2 months training.
Within 1 year and 2 months you must have at least $2,100 in your bank account. Now, here is the second process to train yourself to save money and invest.
Step #4. Withdraw your money in your bank account. Open a stock brokerage account, or a mutual fund account. Invest all your money.
Step #5. Do the Step #1 – Step #3 in 21 times. Every year you have to get your money in your bank account and make an additional investment in your investment account. (mutual fund account or stock brokerage account). This simply means, you will have 441 days X 21 cycle. Or 9,261 days equivalent to 25 years.
Save Money and Invest 21 Times Powerful Habit
Within 25 years, you are have a lot money. For every $2,100 it will worth $69,000 after 25 years. Therefore, $69,000 x 25 years is equal to $1,725,000. Through the effect of compound interest your money grows overtime. If you do it 21 times, saving money and investing will be very easy for you. You will make your body and mind automatic, as if you are addicted for something. That’s the power of 21 times. Attempt it, nothing wrong in doing this. It will really help you in the first place. Good thing, after 21 days, all is automatic.
See, how easy it is to save money and invest money for your future? If you want to retire with this amount of money, then follow the tips given. Thank you for spending your precious time in reading this money saving tips and investing guide.