06 Jan 2022

Building wealth through savings

Happy New Year!

This is Elizabeth the Money Coach. I hope your year 2022 have started on a positive note? What are your New Year resolutions & savings goals? Whatever situation you may be in, let gratitude and hope characterize your year. All will be well.

Did you know that unless you inherit a fortune, win the lottery, or simply earn so much money that you have all that you will ever need; you simply will not succeed at building wealth unless you save? Saving money is one of those things that almost everyone considers a good idea but just a few of us actually master the discipline or put in the work. We all have enough and very convincing reasons like

  • My money is hardly enough to meet my bills
  • Covid 19
  • Lack of a savings plan etc.

Saving money is never about the amounts. Many people find the savings bite too painful to bear. Unfortunately, the need to save will always haunt us. Whether that means retiring comfortably, educating your kids, starting a business, or having an emergency  fund enough to protect you during unemployment or other life setbacks.

What compensates for the pain of saving is the payoff from Compound interest. Compounding is simply a mathematical process where your money increases in value, slowly at first, then with much more dramatic speed.

The key to building wealth successfully through savings is to have a plan. Do not wait until some ideal time in the future to start your savings plan.  There is no time that will seem ideal. You will always find excuses to delay another month. At some point you simply have to bite the bullet. The earlier you start the better grip you will have on your finances. There is not time like today! Start now!  Reach out for

  • Savings & Investments options
  • Accountability
  • Personalized Money Coaching
  • Personal Finance Literacy Trainings
  • Money Lessons for Children, Teenagers and Young Adults.





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