Cutting down on budgets and learning how to channel more to savings.
If you are still spending lavishly in this age, then you are not following project.hope community. While handling money, it is either we save it or we spend it, how the money is spent or saved makes a significant difference all the time.
The first step in moving towards the height of financial freedom is to list out everything that takes out money from us from feeding to transportation, gym membership, training and their activities, after this has been listed, a certain percentage needs to be calculated on the items and from there, there will be a quick selection based on percentage and from there the owner of the financial survey will have an understanding on that product or service that takes a huge part of his earnings
The sincere question that the financial owner needs to ask himself if the items on the list set above is a wise product or service to spend all. The moment the list shows the amount of outcome to be more than the amount of income, which shows a very important red flag that needs to be improved upon with immediate effect, on no grounds should a financially wise person have his or her outcome to be greater than the income.
If we were to only get focused on eating, sleeping and waking up then maybe we will not have an issue but since we want to build a good financial life that will last for a long time and even until retirement age. Saving towards retirement age is actually highly important, since there is a set financial plan on the items money is being spent on as described above, then it will require a determined mind to reduce some of the unnecessary expenses from the list and then channel the money towards a more saving tradition.
Although, the fact that we are trying to develop our financial life does not mean that everything we need to survive on a daily basis should be eliminated, it only calls for self-control and a good budget lifestyle that will guarantee financial increase.
