Here’s a little story for you today.

I have been talking to a cousin of mine for a while now about starting a separate saving’s account to start investing. I proposed a specific bank account and spend 30 minutes talking to her about why I thought it was a great idea to do this.

My understanding was that everything was pretty clear and that she was very excited about it all.

I checked with her two weeks later. He’s how the conversation went:

Me: “Did you open your savings account?”

Cousin: “Yes”.

Me: “When did you do it?”

Cousin: “Tomorrow, lol.”

Let’s face it, my cousin knows that she should start saving a little bit of money. There is so many good reason to do so.

• I talked to her about a real estate investment project that I would like our family to start.
• She wants to buy a house
• She will need a new car soon
• And God knows that there is so many other reasons for her to start.

The thing with saving is this: If you don’t have a place to put the money that you’re saving you will mix it with the money that you usually spend and you’ll spend your saving money as well.

Something to think about

Instead here’s a better approach: Separate your saving money from your spending money and keep these two separate for as long as you live.

Let’s safe it, I could  get on here everyday and write about finances, success, money and real estate but unless you decide to take action to make positive changes in your life…

Here’s a positive action item for you

Take a percentage of the money you earn each time you get paid and put it aside somewhere away from your eyes (so that you won’t feel like spending it). You don’t even really need a bank account to get started, you just have to decide that today is the day.

I started saving in an empty peanut butter container. I taped the lip so tight that it took hours before I could untapped everything when I needed the money.

This is what you want. You want a place or a bank account that will make it hard for you to take money out. Remember this is your saving money and it goes in your savings account.

Say “I do”

Deciding to start saving is like getting married so just go ahead and say: “I do”.

Once you decide where your money will go and you decide which amount you will add to it every month most of the work is done. Then you have to commit to adding to this account and never never take money out of the account unless you want to use it for a safe investment that will produce more money than what you started with.

So let’s say that you’re able to save 1 000$ a month for a year, at the end of the year you’ll have 12 000$ and the interest your were able to accumulate in your investments.

That may sound like a lot of you’re just starting so let’s say you put 100$ per month instead. Then you would have 1200$ at the end of the year.

If you saved 1000$ per month and you’re able to maintain it for 5 years it would mean that you’d have 60 000$ and all the accumulated interest.

If you invest 100$ per month for 5 years then you’ll have 6 000$ after 5 years.

Both option are great! Everything is possible, you just have to start somewhere.

Keep in mind that you just made a commitment to yourself and we’re not doing this for a year or 5 years, we’re talking about a new way of life. This means that if you can only afford to save 10$ a month right now, you should go for it. In a month or two if you can put 25$ or 30$ you change the amount. The goal is to save a much as you can so that you can invest as much as possible. So that’s pretty much the plan and this applies even if you have debts. You want to pay your debts but you want to start saving as well, starting is priceless. It sets the pace for the rest of your life.

All you have to do today if you’re serious about your finances… Commit to a better future for yourself today and start saving today.