The Secret of How to Build a Cash
Surplus
If you had saved 10% of your income since you started working, how much
money would you have right now?
Having a big savings account has many advantages. For example:
● You have the option of getting into
activities you enjoy
● You can get out of activities you do not
enjoy
● You have more choices of where to live
● Emergencies and potential emergencies are
less stressful
● You can help the people you love with their
emergencies
● You do not feel trapped by your job
● You can devote more time and money to the
activities you love
The Problems
Building a surplus of cash for yourself can be very difficult. An
immediate need feels more stressful than a future need. Or you earn some
money and want to reward yourself.
Even if you manage to save some money, you are tempted to spend it. You
have an emergency or find something you really want to buy. You promise
yourself you’ll pay it back to your cash reserve, but you never do.
Saving money takes a lot self-discipline. However, even though it is
difficult to save money each month, most people can pay their
bills.
The Secret
"When a surplus is made part of the ‘need’ by disguised outgo, a
surplus occurs. Only then will it occur. It will not happen otherwise." —
L. Ron Hubbard
If you pay your bills, you can also save money. You arrange bills that
are actually savings. You won’t miss the money.
For example, you arrange a monthly debit from your checking account
into a saving account. Any bank can set up a savings plan for you.
Certain credit card programs allow you to make monthly payments into an
investment account, such as savings accounts with insurance companies or
banks. The amount you authorize is automatically charged to your credit
card each month.
You can pay money toward a future purchase by making an agreement with
the group you want to buy from. For example, some colleges allow you to
freeze the tuition, if you make monthly payments.
You can also sign up for your company’s payroll savings plan or
retirement plan. You tell your employer how much to save for you. Your
savings is withheld from your pay, just like your tax payments.
Even though opportunities to create a bill that becomes a savings
account are not widely promoted, they are available.
Recommendations
1. Decide how much you wish to save each month. The amount should not
be so high that it becomes a burden, but you might be surprised how easily
you can live on 90% of your current income when you are saving 10%. If
none of the above examples fit your situation, talk to someone at your
bank, at your job or at an investment company. You might also ask people
who have made themselves wealthy as they will have good ideas.
2. Then find a bill or system that will force you to save money. The
need to pay the disguised bill must be as urgent as any of your other
bills. In other words, you must pay it each month, without fail.
3. The cash reserve must also be difficult for you to spend. For some
people, a small penalty is enough to leave the money alone. For others, it
must be more difficult. For example, you can set up a joint account so
another person must approve your withdrawal from your savings.
4. Finally, the saving account must also increase each month, by
itself. All banks pay interest if the money is flowing into the right type
of account. Anything is better than nothing!
Make this small, but important change to your finances and you will
have more options for success in your
future!
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service to introduce the technology of L. Ron Hubbard to you.
Copyright © 2010 TipsForSuccess.org. All rights reserved. Grateful
acknowledgment is made to L. Ron Hubbard Library for permission to
reproduce selections from the copyrighted works of L. Ron
Hubbard.
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