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    25 Money Strategies Your Teacher Forgot to Tell You About
    25 Money Strategies Your Teacher Forgot to Tell You About
    25 Money Strategies Your Teacher Forgot to Tell You About
    Ebook68 pages51 minutes

    25 Money Strategies Your Teacher Forgot to Tell You About

    By Richard Pan

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    About this ebook

    If you are searching for the answer how it is possible to save some money and enjoy life at the same time, then this book is just for you. This book is based on the experiences of the author who put to the test in his personal life various and different money saving tips and tricks for five years. Here are the top of the notch money saving strategies everyone can apply right away in order to improve one's financial state and quality of life.
    LanguageEnglish
    PublisherBookBaby
    Release dateNov 25, 2013
    ISBN9781483508023
    25 Money Strategies Your Teacher Forgot to Tell You About

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      Book preview

      25 Money Strategies Your Teacher Forgot to Tell You About - Richard Pan

      website)

      Introduction

      Every time when we talk about saving money people tend to look for possibilities beyond their abilities. In fact you don’t need to re-invent the wheel to start saving money right away. That’s why I am glad to introduce you to these 25 simple but effective principles to save money while enjoying your life, because basically that is the reason why we were born. Weren’t we?

      But I want to warn you, youth is not given for this purpose only. Be careful or you will be paying for your lavishness for a long time to come.

      Instead put your energy into accumulating your wealth by saving money while you’re young and developing the crucial skills called: earning, saving and spending. And to accomplish this task successfully 25 money strategies your teacher forgot to tell you about is a great eBook to start with. These 25 great money saving tips will guide you through several stages of your life and enable you to use these tips and tricks for getting started with your savings already today.

      Strategy No. 1

      Historical precedents

      The concept of the tenth share was first mentioned in the Bible. It was much like a sacrifice to show ones respect to God. Later on the tenth share was enforced as a rule for all Christians to pay their tenth share as an impost to the local church. By that time it was not a matter of choice anymore and anyone who did not do so was punished.

      The idea of tenth share is still alive but it has changed slightly in its form. The fact is - the taxes that we are paying to our governments today are a modern form of the tenth share of that time. The difference is that we do not pay the 10 percent to the church, but roughly 30 to 50 percent of our income in taxes to the country.

      It has become a pipe-dream for most people to have any money left at the end of the month which they could put away easily for their own needs. I assume that everyone has heard of the idea: Pay yourself first! Did you know that this small piece of text hides in it the fast-track to financial freedom? People knew about this idea already 4000 years ago and the best interpreters of this concept were the Babylonians as shown by George Samuel Clason in his book The Richest Man in Babylon.

      It does not matter how hard you try, but if you are not willing to develop the habit to pay yourself first, at the end of the month you won’t have anything left to give to yourself. It is a proven fact that people usually have spent all their money before the month ends and in some cases even earlier. From now on your challenge is to develop the habit of putting 10 percent of your income away for yourself first. Every time you receive money don’t hesitate to put away 1/10 of it and forget about it as if it never existed. The best way would be to put this money in a deposit account. Of course the small interest that the bank offers is not the best deal, but certainly it is more than money stashed in your sock or under your mattress could accumulate. I would strongly recommend you to also destroy the account card to prevent you from a sudden desire to spend all the money you have saved.

      At this point I would like to remind you not to worry if you in your opinion don’t have a sufficient amount of money to put away. Even if it is only five or ten dollars it will still do the trick, because the main idea is to create a habit of targeted money saving. When we talk about saving money, no amount is too little to start with, and the sooner you start the better off you will be, and thus the earlier your venerable habit of saving money will be developed.

      I would like to address this to young people who do not have already any children or hopefully aren’t stuck in serious debt liabilities. Since you are currently at the age when you have little or no financial liabilities and responsibility to others,

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