Dear readers, amidst the higher costs of living, I believe the challenge is to continue saving up, as one may be demotivated by reduced savings these days, arising from higher daily expenditures.
Mathematically speaking, Savings is Income minus Expenditures
To Save more, it is easier to reduce our Expenditures as not all of us have the time or efforts to pursue another source of active or passive income.
To reduce our daily expenditures, it is simply a method of simplifying our lives and just sticking to that.
We can reduce our monies spent on that “want” when it comes to our food: example bubble tea or food which we eat as snacks rather than meals.
Every little savings adds up! A $1 spent every day is equal to $365 a year and makes one feel likes having another $10,000+ more which is put in fixed deposits earning the current market interest rate of 3% per annum!
Or simply having a goal to motivate your saving up! For example, we can tell ourselves that we are saving up to secure a Better future for our family and us!
Let us each Save more today!