K - Keep 10%
LIVE B.R.O.K.E + BUILD WEALTH
The inability to save money is a top concern for many people today. It is leading cause for Americans financial concerns. Part of this has to do with our mindsets as consumers. Our first thought is to acquire goods or services just because we have the money to do so, thanks largely to more than 5,000 ads that we see in a single day. Sadly the reason you are unable to save money is likely your own doing. When was the last time you evaluated your spending habits?
You don’t believe you can afford to save: This is the furthest thing from the truth. It is very simple. Are you a smoker, do you drink or even eat fast food? If the answer is yes, than chances are you can cut back on one of three habits to find the extra cash. It is better for your health in the long run anyway.
You never tried to save: What do you do with your paycheck? Have you set aside money that was designated solely for savings? All it involves is taking out $5, $15 or even $25 each time you receive money regardless the source. Try using automatic deductions from your paycheck into a specified bank account to make saving mindless.
You have a spending problem: Maybe you just can not help yourself. Your palms are just itching to swipe or spend cash at the moment it is available to you. If this is the case you may need help with a serious shift in mindset to help you get over this problem. Consumerism is only good for the businesses you are giving money to, not to you or your family's well-being.
Always remember that money is a tool. Tools are used to achieve a desired outcome as a result of their proper use. Put your money to proper use and save. It is the foundation to your finances.