Skip to main content

Importance of saving money

There are opportunities on every corner but they exist only for those who have ready money, or who can command money because they have formed the habit of saving.

Generally speaking, this is the attitude that the world takes toward all those who save money.

It often happens that a small savings account of no more that two or three hundred dollars is sufficient to start one on the highway to financial independence.

Love and justice are the real arbiters of all disputes. Give them a chance and you will no longer want to defeat a brother sojourner by the wayside of life.

There may be times when you find that, even having saved money, it is difficult to persuade others to back you, simply because your vision is greater than theirs.

It may seem a cruel fact, but it is a fact nonetheless, that if you have no money, and have not developed the habit of saving, you are out of luck as far as availing yourself of the opportunity to make money is concerned.

It can do no harm to repeat in fact it should be repeated over and over again that the real start of nearly all fortunes, whether great or small, is the formation of the habit of saving money.

Get this basic principle firmly founded in your mind and you will be well on the road toward financial independence!

It is a sad sight to see someone who is well along in years of self sentenced to the wearisome treadmill of hand labor because he or she neglected to form the habit of saving money when they were younger.

The greatest things in life is freedom! but there can be no freedom without a reasonable degree of financial independence.

It is a terrible thing to be compelled to be at a certain place, at a certain task for a certain number of hours every working day of the week, for a whole lifetime. In some ways this is the sane as being in prison since one's choice of action is always limited. It is really no better that being in prison with the privilege of a "trustee" and in some ways it is even worse because the person who is imprisoned has escaped the responsibility of providing themselves a place to sleep, something to eat, and clothes to wear.

The only hope of escape from the lifelong toil which curtains freedom is to form the habit of saving money and then live up to that habit, no matter how much sacrifice it may require. There is no other way out for millions of people, unless you are one of the rare exceptions, This lesson and all these statements of fact are meant for you and apply to you!

Neither a borrower, Nor a lender be; For load oft loses itself and friend, And borrowing dulls the edge of husbandry. This above all; to thine own self be true, And it must follow, as the night the day, thou cant not then be false to any man
-Shakespeare

Comments

Popular posts from this blog

Maximizing Your Profits with Scoring

SETTING YOUR MAXIMUM INTRADAY TRADING LOSS First things first: set a max intraday trading loss. There will be days when you just do not have it. Why do you think coaches pull their players when they are not playing well? They are more harmful on the field than off. When you are underperforming, you are hurting your team and your trading business. You need a system to yank yourself over to the bench. A stop loss is your answer. TRADING BASED UPON THE TIME OF DAY A good trader makes note of what time of day it is, when he trades most profitably, and adjusts his trading to fit such times. Your numbers at the end of the month will not reflect your true trading potential. Make the most trades with the most size during the trading periods that statistically are most profitable for you. Money saved during your weaker trading periods is money earned. Consistency The fact is that most trades you make will start working for you right away. But the new traders also hold stocks that are trading ag...

Design Your ideal Mate

The first step in finding and attracting your ideal mate is defining what you want in that person. If you don’t know what you’re looking for, your ideal mate could walk right by you and you might not even notice him or her! By clarifying precisely what you want and reviewing your list each day, you will literally program your unconscious to help you find your ideal person. EXERCISE: Design Your Ideal Mate The Ideal Mate Describe your ideal mate’s traits, habits, qualities, appearance—everything you can think of that would be important to you.  The Mate from Hell If you have a hard time coming up with your “wish list,” start by defining “the mate from hell.” Write about the person you couldn’t stand to be with. What traits would they have? What qualities could you not stand? Attract Your Ideal Mate EXERCISE: Design Your Ideal Mate (continued) What Kind of Person Would You Have to Be to Attract Such a Mate? You need to become the kind of person you would like to find. Describe the va...

Disciplined Trader Chapter 2

The following typical trading errors have a specific cause rooted in a thinking methodology that can be changed. 1. Refusing to define a loss. 2. Not liquidating a losing trade, even after you have acknowledged the trade's potential is greatly diminished. 3. Getting locked into a specific opinion or belief about market direction. From a psychological perspective this is equivalent to trying to control the market with your expectation of what it will do: "I'm right, the market is wrong." 4. Focusing on price and the monetary value of a trade, instead of the potential for the market to move based on its behavior and structure. 5. Revenge-trading as if you were trying get back at the market for what it took away from you. 6. Not reversing your position even when you clearly sense a change in market direction. 7. Not following the rules of the trading system. 8. Planning for a move or feeling one building, but then finding yourself immobilized to hit the bid or of...