This habit of saving can give you a new beginning in your personal finances .
In order to make saving purposeful , you may need to come up with some financial goals :
Some of your goals may be short-term , like making sure that you have an emergency fund . An emergency fund is a great safety net to have when you are trying to put your finances in order and grow it . Your emergency fund should be between one to six months ’ worth of your monthly expenditures .
Once you have this saved , you are ready to save for your next financial goal , your medium term goals .
If you are in debt that might be the next goal , you want to save for , and if you do not have debt , you may wish to save for an investment opportunity . Once you have a bit of money saved , you will be surprised how many opportunities will come your way for growing your money and how you empowered will begin to feel .
I can tell you a lot more about what you can do with your finances , but I really do not want to make your life more complex than it should be at this point . If you take care of the simple things the complex things take care of themselves , one of the simple things that you can take care of is saving .
Do not just save for the sake of saving , but use saving as your passport to financial freedom . Many other doors to financial abundance are ready to open up for you , but you must take this first step and save .
The author of this article is Davida Yemi-Akanle . She is a Strategic Wealth Creation expert who helps people change their money mindset and create plans to put their personal finances in a better shape , build their businesses to generate more profits , and turn their expertise into income generating products and assets .
You can visit her website at The Wealth Creation Revolution at kingdomwealthcreation . com
18