FIRST SAVE & THEN SPEND

Hello Friends, 

My this blog is tell about the Power of Saving. The main motive of our life must be 
"First Save & Then Spend" 
The famous quote is:

"Do not save what is left after spending..... but spend what is left after saving." 

Warren Buffet

Let's understand it with an example:

  • Mr. X has a monthly income of Rs. 35 K and he invest Rs.10 K every month and make all the expenses from the money left which is of Rs. 25 K and he is doing it from last 5 years without any gap. So he has some plans for future and keep on investing in a systematic manner. It will surely help him to fulfill his future plans in an easy manner.
  • Mr. Y has a monthly income of Rs. 35 K and he start spending it on all his expenses and at the end of the month he has left with some amount of money and then he starts thinking to invest in some investment plans. He will not spend the same amount every month, it may be more or less as he has left after all his spending. This kind of investment procedure is not right and not helpful to achieve his future plans. 
It will help you in many ways:
  • It means that saving is more important than spending. Keep your money aside for saving first than start spending after that.
  • It doesn't mean that spend all your income and no amount will left for saving. 
  • There must be a discipline for investment.
  • Try not to break the chain of savings. 
  • It will help you in case of any emergency.
  • It will help you to fulfill your future goals related to money like higher studies, marriage, house, car etc.
  • It will help you at your old age.
  • Saving must be in a systematic manner.
  • Advice of a financial doctor always helps you.
I hope it will be helpful to you.

Thanks and Regards

Kulvinder Kaur
B.Com(H), MBA(Finance)

9871580806, 8826566751
rightsteptoinvest@gmail.com

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