We have some people who earn a lot of money every month and don’t know how they spend it and at the end of every month, they have nothing to show for it. This may be because of many reasons, some people will tell you it is because that person doesn’t have proper budgeting but most times we have increased our expenses so much that no amount of money we earn can keep up with our needs. The funny part is that some of these things that we think we need are wants.
An increase in salary doesn’t mean a lot because the more increments you get on your salary, the more expenses you create for it, and at the end of the day you have nothing to show for the increment. Why people always say that incrementing your salary might not change your finances and sometimes there might be inflation. When it comes to income, increasing your income, shouldn’t be all you should be concerned about because that might not matter What you should be concerned about is the amount of money you can put aside.
Everything changes from here
Inflation is one of the major problems that people face with their income, especially in our age when the price of things keeps changing almost every week or every month. It can be crazy to think you have a lot of money, but in the true sense, you still find it difficult to take care of yourself. It is important to always think about not how much we are making because this can also get into our head and thinking we can afford some lifestyle that we can’t afford.
The most important thing about money is not how much you are earning, it is how much you can put aside because this is how you can start seeing things differently. This is where you can start looking at your retirement plan because now the money you are putting aside will be meant for a purpose. If your purpose is big enough, it will make you make the right financial decision because now you know that the money that you’re putting aside will be the one to save you at the end of the day.
Focus
If the money you are putting aside, won’t be enough to meet your purpose you know you have to change your job or increase your intrinsic value, to gain better money in the market. If you’re planning for retirement or you are planning to start a business, putting money aside is very important to plan for all these things. Saving your money is also important because it might be what saves you at the end of your life.
Most time, it is not always about the salary because we are living in a world where no matter the amount of money you are making if you don’t strategize and have plans for your money, there is a chance that you will be living from paycheck to paycheck. When you start putting money aside for a purpose, it changes your approach to money and also income. It helps you to plan better and manage your money properly which gives you more reason to have a better plan for your income.
Thanks for your time.
