There comes a time when everyone will have to make the decision to either save their money or spend it on something.
So, let's look at these options real fast.
What do you get when you buy something you don't need by you want?
Well, you get whatever your money can buy, whether it be a new toy or an exciting day at the amusement park. The problem is this doesn't last. Once you spend money you no longer have it.
Whatever you buy with your money also probably will not last. So your money basically just vanished off of the face of the earth, or more precisely, goes to someone else's pocket.
We are creatures of habit, so spending will only lead to more spending. As we run out of money we need more to buy new pointless stuff so we have to work harder and harder to satisfy our needs.
On the other hand if you decide to save your money instead of spending it as fast or faster then you make it what do you get?
Well you get some more money in your savings for a rainy day. And if you keep saving and start investing into something like dividend paying stocks or start your own business and invest into that then you are working to create something for yourself.
Being creatures of habit works for us in this sort of circumstance. Saving and investing your money leads to more saving and investing which can lead to a lot more money and eventually it can even lead to financial freedom, which is a great thing.
Now I am not saying that you cannot spend your money from time to time, but in general saving your money and investing it can lead to much better rewards in the long term and can help you achieve your financial goals.
In general saving money can have a much bigger impact on your life in the long term then spending it. When you are spending your money you are wasting it, but when you save and invest it you are working to create something.
So, let's look at these options real fast.
What do you get when you buy something you don't need by you want?
Well, you get whatever your money can buy, whether it be a new toy or an exciting day at the amusement park. The problem is this doesn't last. Once you spend money you no longer have it.
Whatever you buy with your money also probably will not last. So your money basically just vanished off of the face of the earth, or more precisely, goes to someone else's pocket.
We are creatures of habit, so spending will only lead to more spending. As we run out of money we need more to buy new pointless stuff so we have to work harder and harder to satisfy our needs.
On the other hand if you decide to save your money instead of spending it as fast or faster then you make it what do you get?
Well you get some more money in your savings for a rainy day. And if you keep saving and start investing into something like dividend paying stocks or start your own business and invest into that then you are working to create something for yourself.
Being creatures of habit works for us in this sort of circumstance. Saving and investing your money leads to more saving and investing which can lead to a lot more money and eventually it can even lead to financial freedom, which is a great thing.
Now I am not saying that you cannot spend your money from time to time, but in general saving your money and investing it can lead to much better rewards in the long term and can help you achieve your financial goals.
In general saving money can have a much bigger impact on your life in the long term then spending it. When you are spending your money you are wasting it, but when you save and invest it you are working to create something.
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For more ways to build your wealth read these articles about making money. Or for more on investing your money visit Shaun's site about the stock market basics
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