Let me look at a few of the things that I have observed:
• Having no financial goals — when there is no goal for which you are saving or investing, chances are you will not save or invest! It is really important to have goals — whether in health or wealth. The rich and those really wanting to reach there have clear goals.
• Paying yourself last — when you earn money on a regular basis (mostly monthly), if you first spend on your needs and luxuries, you will never have enough investments. The rich stick to the principle of ‘Pay yourself first’ — first pay and allocate the money for all your goals, and thus you will have savings.
This story is from the November 04, 2024 edition of The New Indian Express.
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This story is from the November 04, 2024 edition of The New Indian Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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