Successful saving methods, ways of the rich to save their money

Successful saving methods we present to you through the article provided by the “cultural information” site through advice provided by the wealthy. There is no one who does not want to have more money and can move from his place to another place, so follow with us the most important advice provided by the world’s rich .

Successful savings methods

There are saving methods that have been very effective in making most of the world’s richest people able to save money and start their path to success and achieving wealth, and they are as follows:

1. Beware of your small expenses

“Bill Gates” indicates in his advice about saving that all individuals, if they want to save money, must beware of their small purchases more than the big ones, and he considers them negligent and extravagant spending, as all that is spent, even if it is a small part, can accumulate into a large sum .

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When you look at anything that you have bought that could have been dispensed with and put it next to similar other things, you will eventually find a large amount of money that you did not need to spend.

2. Focus on the future

The easiest thing for a person to face is to save an amount of money and spend it to get small things that he had planned at the end of his day, but at the end of each day you will find that you have not focused on your future, so the billionaire “Tennessee Williams” assures us that it must be when you decide that You move to the ranks of the wealthy to set your future goal.

And do not satisfy your daily needs only, through his personal experience he was able to build his empire by focusing on a goal, and indeed he was able to achieve it successfully.

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3. Spending on appearance

Although all individuals like to get a good reaction from those who know them, especially friends, on their clothes or things, this habit makes it impossible to enter any money that could benefit a person.

The billionaire, “Susie Orman”, explained that when she stopped buying any things for clothes or make-up, she was able to find an amount to open the first factory in her ancient empire, through which she made her enormous wealth.

4. Make a list of purchases after determining an amount to save

Economist John C. Maxwell says that it is impossible for you to make any savings without making a list from which you exclude first the value of the amount that you will save and then put your remaining expenses, because the world around us is full of many expenses that may eventually lead you to Not saving any money.

Only the rich know how the money comes and where it might go, and John C. adds that budgeting is a set of words that tell you where your money is going rather than wondering how the money has gone.

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5. Work hard

People imagine that the rich spend their time enjoying the luxury life, but the reality says that the rich work harder and hard than anyone else, especially during his period of abundant production, so millionaire Sofia Vergara advises you to do the most beloved business to you during the period in which you see yourself earning money a lot.

She says that despite having millions of people, she saves from them the most that she spends, and she often has a sincere expectation to seize the opportunities that make her earn more.

6. Allocate part of your income to savings, and it will get you double it

The wealthy are the individuals who are keen on their money so that they remain wealthy, and in this “Angelina Jolie” says that she lives a third of her income, gives alms the other third and saves the last third, and confirms that because of her charity of one third of her income, her income remains the same as if she did not spend anything from it.

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7. Close the sources of spending lavishly

The wealthy all agree that if you find any unnecessary things, never buy them, and be careful because a small leakage in spending will lead to a sinking of all your money.

Here is information about savings

The difference between saving and investing

Saving is the portion of income not intended for consumption and which is usually deposited into checking bank accounts or used in the short term (financial instruments, term accounts, …). And saving is also the preservation of liquidity for the purposes of short-term use (unexpected expenses, travel, buying furniture, etc.).

The investment is the portion of the income invested in the long term. It is generally related to the assets whose income is evaluated in the long term: real estate properties, shares and shares of the company, … and the aim of investment is to develop and increase the value of saving to achieve long-term goals (retirement, children’s education, home purchase, etc.)

We have provided you, dear observers, of the various successful saving methods and how they are the most careful of others on their money. We hope that we have provided you with what is useful to you and guides you on the ways of the rich to save their money. These methods.

Sources

1- Ways to increase saving

2- Saving and investing

3- How to save money

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