The Power of Saving

Living below your means is something that is very uncommon nowadays. This is the reason why the United States is in the economic shape that it is in. Keeping up with the Jones' is an old expression that is still in effect today.

"Through wisdom a house is built, And by understanding it is established: By knowledge the rooms are filled With all precious and pleasant riches."

-Proverbs 24:3,4

People buy things that they know they can't afford. For instance, you go buy a new car because your neighbor, colleague, friend, etc., bought a new car. You drive the car for a month and everything is great, until the car payment is due. Now you are mad, because you went from a car that was paid for, to a car payment.

The real reality is, you don't own the car, you are simply renting to own. The bank owns the car, and if you don't make the payments, they are going to take the car. Just look at the housing crisis, it's the same concept.

"If you would be wealthy, think of saving as well as getting."

-Benjamin Franklin

We hear a lot of people say that if they could only make more money their life would be better. This is simply not true, because you know damn well if you made more money, you are going to spend it even faster. What needs to happen is that people need to start saving more money.

Start saving 10% and giving 10% of all of your increases. Now you are thinking to yourself how can that be done I'm broke. I don't care how much the increase is give 10% and save 10%. If the increase is $1.00 save 10% and give 10%. If the increase is $100,000, save 10% and give 10%. If you follow this principle I promise you two things: You will have money saved, and money will start coming in from out of thin air. Try it, prove The Great Rabbit Hole wrong. Save 10%, give 10%, and watch what happens.

"I don't think you ever stop giving. I really don't. I think it's an on-going process. And it's not just about being able to write a check. It's being able to touch somebody's life."

-Oprah Winfrey