Family Saving Planning For Future Purposes
Cultivating the habit of saving is an act that should be part of an individual right from the young age and through adulthood but in various occasion, people complain of finding it difficult to save money for personal use and for family purposes. Where does the problem of saving comes from? Is it from lack of finances as one is growing up? Or perhaps no one is telling you to save for your future or you’ve failed to listen to the voice that echoing every now and then to save for your future.
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You’ve gotten a family now and yet you still find it difficult to save money for the family future purposes, what I can tell you right now is that, it is not too late to start learning to save for the future of yourself and that of your family. There are many tips and strategies that you can follow for your family saving planning for future purposes that are available, I’m going to share with you the important one that has work for me and my family and also that have work for many other people in the world. [You may also want to read this, teaching children how to save money]
Come along with me as I reveal to you some of the family saving planning for future purposes.
The very first one I will be sharing with you is discipline without which you cannot save anything even if you earn 6-figure dollars weekly. I had work for 4 good years earning some thousand bucks monthly but I cannot specifically tell anyone how and where those money went. Before the month end, I’ m already broke waiting for the next salary to come, I had even went ahead to borrow from colleagues just to keep myself together before the salary finally landed. I was never discipline when it comes to issue of money but one day I ran out of money and no one could borrow me as usually, it seems that particular month everyone need their money because I never fail to settle my debt immediately the salary landed.
That month was the turning around of my financial fortune, to cut the story short, the little money I had with me that ordinarily, it will not take me up to 3 days before blowing it up, was the money I spent for two good weeks because in that same month, salary were delayed for two weeks. I was forced to learn disciplining myself and how to stick to it because without which I will go hungry for days without food, something I cannot imagine. You need to discipline yourself if you want to save money for the future of you yourself and that of your family.
Separate your need from your want:
Lots of people can’t even separate these two terms as they seems to look alike but they are separate word with different meaning when it come to issue of finances. What is a “want” and what is a “need”? your wants are just added luxuries that if you don’t get them nobody will raise an issue, nobody will even notice it, and not even you if you cannot have them at that time. Your need are the very necessities of your daily life and that of your family lives. Things like housing, feeding, your children better education and their school fees and other many other important things that if you fail to carry them out, not only your family will yell at you but even your neighbor, your colleagues, and your friends. You can’t even bear it. Those are your need. Put separation between the two terms and get hold of your need but not your want.
Save even when your income is still small:
Many often make the mistake of my earnings are too little for me to save something out of it and that when I make more money, I will be able to save money then. The fact remains, if you cannot save money now while your earning power is still small, there is 80% probability that you won’t be able to save when you earn more. Learn now to put some certain money aside no matter how small it may look like in your eyes. Remember that a drop of water can make an ocean. Saving for the future of your family should start now.
if you still find it difficult to save, take this last option from me. If you’re working with a company that pays you directly into your bank account, open another account and mandate the bank where your salary are being paid to every month to take away some certain amount immediately your salary is paid, also ask them for a stiff penalty upon any withdrawer from the set aside amount account. That’s a family future assurance for you if you can do them.
If you’re self employed, you can as well do the same if your customers pay for your service through bank. If not that way, mandate your wife to get some certain amount from you every month for family saving, I trust women for that, they won’t fail you except if there is crack in your marriage.
You can also join co-operative society where you will be mandated to pay some certain amount every month into your account with them.
I hope with these great tips I have shared with you, you will be able to have a family saving planning for future purposes.
What other ways do you think one can save money for the family future purposes, please share your ideas with us if you have some other ideas different from what we’ve been able to share here. We value everybody’s contribution.