The wise man saves for the future but the foolish man spends whatever he gets like tomorrow is not coming. The problem is not about how small or big your income is. The problem is about the size of your mind, the way you think.
1. Self discipline
Let me tell you about how I started saving. We were still a young church and whatever money that we received was spent because our demands kept increasing. Money to hire chairs, money to set up the auditorium, everthing was money. I received money from friends, loved ones and family but I realised I spent every dime I got.
One day I called the one in charge of record keeping and asked him to account for inflows and outflows and he told me everything had been spent. So in that month we received N8,000 and spent N8,000. I asked of the previous month, same. So for three consecutive months we had this much each month? I couldn't believe I spent everything without saving. From then I made a resolution that we were going to save N5,000 and spend only N3,000. So for the first time we were able to save N5,000 and managed the N3,000 owing nobody and from then on I learnt how to save. We became rich.
2. Save more, spend less.
Human needs keep increasing but you can set your mind to do this if you want to be rich.
2. Control your spending habits.
This starts from the mind.
Don't spend money unnecessarily on things you did not plan for considering your income. Be in control of the way you spend. Don't let it control you.
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