How Saving Becomes A Habit

One of the most difficult thing to do on Earth is the act of saving. I don't have the proof for this but I know you will somehow agree on this one. Life is short and we would like to make the best life to live as much as possible. And not all the best things in life are free, and so we put saving to the lowest of our priorities. The cycle comes like this: studying in college to land a good job after, work full-time to earn money, enjoy life using that money, retire with almost nothing.

Are you familiar with this kind of life? Yes, most people would live this kind of life. The sad truth is, once you retire, you might have no one to get help from but yourself, especially when it comes to finance. The lifestyle you have when you have your job may not be the same again since you don't have enough money for the expenses.

Make saving a habit.

There are a lot of habits. Habits can be good, habits can also be bad. These things are what we do, what we say and what we think without too much effort because we do those things often. Do you have a habit of smoking after dinner, or maybe a habit of treating your friends every payday, or even going to church every Sunday is a habit. What about you practice a habit of Saving? Every payday or every time you earn something either from your salary, business or any passive income, why don't you get a portion of it and put it somewhere where it will be difficult for you to get it back. It can be a bank savings account, time deposits, or investment products such as mutual funds, stocks or even real estate.

How will it become a habit?

According to an article entitled How Long to Form a Habit, it takes about 21 to 28 times of consistently doing something before it becomes a habit. For example, you want to make drinking milk a habit for your child, then make him or her drink a glass of milk everyday for at least a month. Sooner or later, your child will have the habit of drinking milk and you don't have to force him or her every time. Same with creating a habit of saving. Every month or every payday, you can set a fixed amount to save and continue to do this at least for a year. You will see that once it becomes a habit, it will be easier for you to get that cash and have it saved. After the first year, you can also increase the amount you are saving.

Habit for better life.

Once you have this habit, the scenario above would not be applicable to you anymore. It's because you will have something to spend on your retirement and because earlier in your life, you have practiced a habit of saving.

Mark Hugh Neri

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