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8 • A Good Money Manager
Maintains a Focus On Savings

To most people, savings is a passé notion. Something extra we intend to do but never get around to do it. We have such a lust for things to buy, that we let the credit jailer tie us down and give up our financial future to debt servitude. You need to recognize your savings is your defending gladiator that steps up to protect you, your reputation, your lifestyle, when crisis or unexpected necessity strikes. With all the money found by managing your money well you must make savings a priority in your life.

not enough money
  • Start by putting away as much of your expendable (excess) money as possible. Even if your budget is small, tweak your finances so that you save greater than 10% of your total earnings.
  • Think of it like this: If you manage to save $10,000 per year — which is less than $1,000 per month — in 15 years, you'll have $150,000 plus interest. That's enough money to put a kid through college today. So, start saving and you may have a significant down payment for that child or for a wonderful house or cottage.
  • Start saving young. Even if you're still in school, saving is still important. People who save well treat it more as an ethic than necessity. If you save early, and then invest that savings wisely, a small initial contribution can snowball (compound) into a significant sum. It literally pays to be forward-thinking.

Golden Rule: Become aware of all your expenses, question them and choose to make personal policies about what are good and important expenses. Build a spending plan that begins to take charge of your money and plan to move weekly or monthly funds into a savings account to leverage into a secure and wealth future.

When you can manage your money, You will have Great Credit!