Is this the year you become a wealthy woman? Or an even wealthier one? It’s really quite simple.
Every time money comes in, put a portion into savings on a regular basis. How much? Ten percent is ideal, but less is absolutely fine. Sadly, few people do this.
For many, setting aside savings is akin to self-imposed poverty, as expressed in a recent email I received. “How can I SAVE money to create wealth (which means cutting back spending) and still have a feeling of ABUNDANCE (which means the desire to SPEND) and not a mentality of LACK?”
In her mind, spending provided the pleasurable pretense of prosperity while savings felt like self-denial. But a brain wired for wealth views it quite differently.
Saving means you’re giving the money to YOU (not Visa or Starbucks) so that ultimately you can purchase whatever you please without pressure or worry. The difference between the two mindsets is not deprivation but delayed gratification.
The ability to delay gratification is a sign of maturity and the quickest way to accumulate more than enough, which is the true definition of wealth.
The best part. Saving is so easy when you set up automatic deposits. You don’t miss what you don’t see.
And, with little effort, you set the rewire process in motion. As you watch your savings grow, the reward centers of your brain light up and your inclination to save more increases by the day.
How do you feel about savings—self-denial or the way to wealth? Share below.
Give yourself the Gift of Wealth in 2020! Join my virtual community, The Wealth Connection and Become a Savvy & Confident Investor! Learn More!