Friday, March 16, 2007

First Step to Financial Freedom

Perhaps you do not aware that the first step of thousand miles journey to become financially independent and financial freedom is to start saving. Saving is the basic and simple. 99.99% of us aware of that we need to save but the interesting point is most of the folks do not practise it. May I know why?

Let’s look at your environment, are you friends encouraging you to save or to spend? Watch the TV, what the advertisement try to advice you to save or to spend? Radio is the same thing. Our environment keeps encouraging us to spend but not to save. Even if they do advice us to save, I’m quite sure they did a very bad job and do not really emphasize the importance of saving.

This is the reason I write it here to wake you up and also to wake myself up that saving is very important and critical in managing our personal finance. Without sayings, don’t dream about financial freedom. Also, don’t talk about investment, real estate, or business because you do not have rights to talk about it. How can one invest when one has little or no money to start with? How can one capitalise on stocks or properties when the bank balance is zero? What about retirement? Where is the money come from?

So start saving and it is the first step you need to do before you ever thing about financial freedom. Saving part of your income will enable you to put aside funds for emergency situations. Saving part of your income will enable you to invest, be it in the stock market, real estate or whatever. Saving will enable you to take advantage of opportunities that arise from time to time. Saving will permit you to enjoy life’s little pleasures. Savings will allow you to send your kids to college and further their education. Saving will allow you to have a comfortable retirement. Do I still need to say more?


BeeTin said...

Hi Champdog,
It's been a long time since I last dropped by here. Btw, some information to share with you, there's actually a saving plan in the market that requires you to save for a short period, get interest up to 30 years and capital growth upon maturity and more...

ChampDog said...

Hi Beetin, long time no see. Recently I just busy with the work and do not really have much time in blogging. Great that you're still remember me.

Having said that if everyone is saving and do not spend their hard-earned money, it is going to be big problem too to our country’s economy. Therefore, we should spend too but spend *smartly*.

Btw what saving package is that? It sounds like one of the products from Insurance company, true?

Didn't find what you want? Use Google Search Engine below: