How to look after and save money for future?
Future is uncertain! You may become poorer or richer. Whether you become poor or rich, depends on the actions, you take right now. You have money right now and you can save it for your future. You need to start savings immediately and you can teach your children to save money, so they will not repeat the mistakes, you have done. For saving money, they will need motivation. You can guide them by providing education of financial literacy, in which they can understand the present financial situation and what the outcome will be, if they do not save money. The financial education helps them in understanding the value of time and money and the benefits of investments and savings.
Motivation for saving money
There are a few people, who save money, due to fear. It is a feeling, which makes them realize that they can lose this what they have in their hands. It can happen with anybody; you can lose your money, very easily, if you do not learn to manage the money in your hands. Try to find out motivation of your life. If you are able to do this, you can save more than you imagine. You will only realize the value of saved money, at the time of need. Motivation for saving money could be for as small a need as going to your favorite restaurant or as big as buying a car, buying a house, buying diamond sets etc. There are many things which can motivate you. This motivation helps you to save big amount and the habit of saving automatically becomes part of who you are.
Even big organizations are saving money and engaging themselves in the corporate social responsibility. As per reports, most companies are continuously involving themselves in local charities or energy efficiency drives. It also helps them to provide a competitive edge. Its other advantage is they are becoming more environmentally and socially sustainable. It helps them to save more money which ultimately proves to be beneficial for the growth of the economy.
Tips to save money
You can adopt some simpler ways to save the money and live a carefree life after retirement:
- Prepare a budget in a paper or spreadsheet
- List down your expenses of the whole month
- Calculate your last month expenses
- Compare the gap between your salary and expenses
- Reduce the unnecessary expenditures
- Try to shop online and try coupon shopping
- Make proper investments
By doing all these things, I am sure you can save some dollars very easily, at the end of the month.