Dear readers, I understand that with the higher cost of living these days, some of us including myself may be feeling the pinch in our wallets these days as we pay more for our basic necessities and for the discretionary items when we would like to relax a little.
But it is indeed during these times, that we should save up even more, though saving can seem to be non-motivational as whatever few dollars we save can be offset easily by the higher cost of everyday living.
But do you know that you can feel at least $12,000 per year richer as we go about paying for goods and services these days by just saving up $1 a day? Yes, that’s right, $1 a day may not be much and saving $1 a day to me can be simple and the motivation behind this saving is beneficial?
For example, one can save $1 a day or more by simply go for instant Kopi-O packets (healthier choice) rather than paying around $1.20 to $1.60 for a traditional coffee from a coffeeshop.
One can achieve at least $1 a day by simply ordering few and less expensive dishes during the order at the mixed vegetables food stall.
With a saving of just $1, as the saying goes, a dollar saved is a dollar earned, you are in effect earning $1 more a day.
And at the average of 3% per annum for fixed deposits, the earning of $1 a day is akin to having placed approximately $12,000 in fixed deposits and the 3% per annum interest earned translates to your receiving a dollar a day.
This is the power of Savings. We should Save whenever we can and spend only on what we need. We should save more and grow our monies wisely for a rainy day and to take advantages of the stock markets opportunities whenever they arise.