header

gold dollarThe Law of Saving

Saving money is just one of the many subjects Brian Tracy has written and spoken about. His expertise is well recognized as a best selling author and professional speaker who has helped over 4 million people achieve their goals.

According to Brian, your ability to discipline yourself "to do what you should, when you should do it, whether you feel like it or not" is the key to becoming a great person and living a great life.

By: Brian Tracy - www.BrianTracy.com

Financial freedom comes to the person who saves ten percent or more of his income throughout his lifetime.

One of the smartest things that you can ever do for yourself is to develop the habit of saving part of your salary, every single paycheck. Individuals, families and even societies are stable and prosperous to the degree to which they have high savings rates. Savings today are what guarantee the security and the possibilities of tomorrow.

Start With Yourself

The first corollary of the Law of Saving comes from the book The Richest Man in Babylon by George Classon. It is to "Pay yourself first."

Begin today to save ten percent of your earnings, off the top, and never touch it. This is your fund for long-term financial accumulation and you never use it for any other reason except to assure your financial future.

Develop New Habits Regarding Money

The remarkable thing is that when you pay yourself first, and force yourself to live on the other ninety percent, you will soon become accustomed to it. You are a creature of habit. When you regularly put away ten percent of your earnings, you soon become comfortable living on the other ninety percent. Many people start by saving ten percent of their income and then graduate to saving fifteen percent, twenty percent, and even more. And their financial lives change dramatically as a result. So will yours.

Take Every Advantage

The second corollary of the Law of Saving says, "Take advantage of tax deferred savings and investment plans." Because of high and even multiple tax rates, money that is saved or invested without being taxed accumulates at a rate of 30% to 40% faster than money that is subject to taxation. Self-made millionaires, according to Dr Thomas Stanley's book The Millionaire Next Door, are almost obsessive about accumulating their funds in assets such as real estate, self owned businesses and equities that increase in value without triggering tax liabilities.

Invest in company pension and retirement plans, 401(k) plans, IRA's, Keough Plans, Roth IRA's, Education Investment Accounts, stock option programs and whatever else has been approved by the IRS for long term financial accumulation. Make every dollar count!

Action Exercises

Here are two things you can do to apply this law immediately:

First, begin today to put away ten percent of your earnings. Set up a special account for this purpose and treat your contributions to this account with the same respect that you do your rent or mortgage payments each month.

Second, become a lifelong student of money. Read the best books, take courses and subscribe to the most helpful magazines. Know what you are doing so you can always make intelligent decisions when you invest your funds.

How Can You Attract More Wealth and Abundance?

We are now surrounded by more wealth than at any time in our history. The real question is how do YOU gain this abundance? Brian Tracy can show you how! Become a money magnet, immediately increase your income and learn wealth building secrets. Get the knowledge you need to make your financial future an outstanding one with The Unbreakable Laws of Money Package. Click here to get yours today!



The Unbreakable Laws of Money Package









Custom Search



More About ...

checkmarkHow to Save Money on Income Tax

checkmarkKeys to Financial Planning Start Saving Money!

checkmarkBrown Bag Savings Calculator

checkmarkEducation Savings Plan



Notable Quotes

quote open True happiness and fulfillment come when you feel that you are making a valuable contribution to your world. What is yours?quote close
~ Brian Tracy

Brian Tracy Audio Programs - Now all are FREE!







Financial Freedom RSS Feed







Check the Credit and Debt Tips Blog for site updates here...







FYI ...

To achieve financial freedom, ideas such as: listening to good advice, learning how to make a budget, understanding credit repair possibilities, avoiding the scams, and generally becoming more knowledgeable of the credit card business, can all play a role in eliminating credit card and other debt. There is A smarter way to manage your money.



LATEST NEWS

The More Debts You Have, The Faster You Can Pay Them Off...





Copyright © 2012 - 2013 ControlCreditCardDebt.com | The Law Of Saving