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The culture of savings and investments

1. Keep some part of your earnings for your future. This is the “pay yourself second” principle.
2. Ten to 50 percent of your salary should go to work for you. Money in the purse is only gratifying to the soul, so put more of your money into your savings plan and less in your purse for immediate and easy spending.
3. Learn to live according to your purse, example: what you eventually have left after servicing your savings plan. And learn to live on less than your salary.
4. Don’t be in a hurry to invest. Take great caution so that you do not lose your money. Remember, quick gain is deceptive. Many have said that if you want to make a million dollars, you have to endure a million dollars’ worth of pain. Gain usually takes time. The first principle of investment is securing the principles of righteousness and honesty.
5. Analyze your priorities. Discipline yourself to save and invest, and thereby later attain increasing wealth. Money cannot quench desires, only discipline can tame desire.
6. Develop a budget and live by it. A budget defends your priorities from casual wishes and it helps to differentiate between the two.
7. Save for uncertain times such as old age or unexpected circumstances
8. Accumulate wealth first in small amounts, then larger amounts as you learn and become more capable. Your goals should be simple and definite.
9. Be focused and concentrate your efforts to acquire more information, new networks, strategies for better service and cheaper and better products.
10. Beware of lending out money. You are not a bank, so do not bring others’ burdens on yourself.