We started this series “The Power of the Seed” by laying a foundation about on the importance of sowing and reaping. In summary,
we compared the law of “sowing and reaping” to that of “cause and effect”.
We also said that, every action we take in life is subject to these two laws, regardless of who we are. In subsequent post, we also discussed “KINDS OF SEEDS”, as well as the wrong and Right Attitude Towards Money.
Today, we shall be looking at the concluding part of “Financial Seeds”, titled “Types of Financial Seeds”.
Also Read: The Power of Persistence
The Power of Mistakes
1. Savings
Developing the habit of saving for the future, is one that most people ignore or find difficult. Rather than spend all you earn, make a choice to develop The Right Attitude Towards Money by saving. Most people spend all their wages or profit before even remembering to save some amount. However, the importance of consistently saving some amount of money from all your earnings cannot be over-emphasized.
Financial experts have recommended that we save 20 percent from what ever money that comes to us.
You may not become wealthy just by putting away money in a savings account, but you are save yourself from some shame or stress.Now, imagine that you or your child suddenly fell ill and had to be taken to the hospital. How would you feel if you had no savings and the doctor told you that, you needed to make some financial commitment before treatment commenced or that you needed to buy some drugs?
A savings account is primarily used towards emergency situations such as
Sudden Sickness
Sudden Death
Sudden Break down of a Car
Rent Payment
Loss of a Job
Fire Outbreak
Bankruptcy, e.t.c
It is advisable to have saving which can last at least 6months if you were to get layed off your job or if you lost your primary source of income. Develop the habit to save consistently and use it for only when emergencies arises. By all means, save. Because it is one of the wisest choices you will ever make.
TO BE CONTINUED...
Please Share on FACEBOOK, TWTTER, OR CLICK TO SUBSCRIBE TO NEW POST UPDATES ALWAYS..
we compared the law of “sowing and reaping” to that of “cause and effect”.
We also said that, every action we take in life is subject to these two laws, regardless of who we are. In subsequent post, we also discussed “KINDS OF SEEDS”, as well as the wrong and Right Attitude Towards Money.
Today, we shall be looking at the concluding part of “Financial Seeds”, titled “Types of Financial Seeds”.
Also Read: The Power of Persistence
The Power of Mistakes
1. Savings
Developing the habit of saving for the future, is one that most people ignore or find difficult. Rather than spend all you earn, make a choice to develop The Right Attitude Towards Money by saving. Most people spend all their wages or profit before even remembering to save some amount. However, the importance of consistently saving some amount of money from all your earnings cannot be over-emphasized.
You may not become wealthy just by putting away money in a savings account, but you are save yourself from some shame or stress.Now, imagine that you or your child suddenly fell ill and had to be taken to the hospital. How would you feel if you had no savings and the doctor told you that, you needed to make some financial commitment before treatment commenced or that you needed to buy some drugs?
A savings account is primarily used towards emergency situations such as
Sudden Sickness
Sudden Death
Sudden Break down of a Car
Rent Payment
Loss of a Job
Fire Outbreak
Bankruptcy, e.t.c
It is advisable to have saving which can last at least 6months if you were to get layed off your job or if you lost your primary source of income. Develop the habit to save consistently and use it for only when emergencies arises. By all means, save. Because it is one of the wisest choices you will ever make.
TO BE CONTINUED...
Please Share on FACEBOOK, TWTTER, OR CLICK TO SUBSCRIBE TO NEW POST UPDATES ALWAYS..
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