Every single person who earns a stable income, and doesn’t fall prey to any terrible misfortunes, should be able to build a sizeable nest egg for himself or herself with a little self discipline. It doesn’t matter how much you earn, if you plan properly, you will be able to save.
The trick is to delay gratification when it comes to spending. Ask yourself what the real cost of an impulse purchase will be. Think of what it will cost you today and also tomorrow. One of the worst reasons for over spending is because you want to compete with somebody. Always trying to have better things than the next person can turn into a disease and severely hamper your financial stability. People guilty of doing this will normally over spend and then borrow more and more money, putting themselves into serious debt.
Avoid the debt-trap at all costs, because … Read the rest