Friday, October 17, 2008

Let's get started!

Hi there,

In this blog, I will focus more on how to save and invest our money that we have.  About how to make money, I will explain in my other blog.

Before we discuss about how we can save money, I think it is better if we know the reason why we do that.  The question here is, "How the rich people have so much money?".  We often ask the question to ourselves and friends.  We only talk about how they make the money but seldomly discuss about the methods that they use to save money.  Actually it is crucial to plan about how we can save our money because no matter how much money we can generate, if we do not control the spending, we still cannot have the money stay and grow.  

I did always talk this scenario with my friends:

There are 2 persons, X and Y.  X has income of 2500$ and Y only have 1500$.  X like to spend money and spends about 1900$ per month to support his luxurious life styles while Y hate to waste money and only spends about 700$.  If we look at the saving that they made, X saves 600$ per month while Y saves 800$.  From this situation, we can see that even though Y have less income, he can SAVE more because of his ATTITUDE and also he plan his money well.  

The formula is very simple:

Income - Spending = Save

There are two aprroaches to save more money and which are to increase income and the decrease spending.  The easiest approach should be about "DECREASE SPENDING" and that is what we are gonna discuss here.

See you in the next post..




sabahking said...


sabahking said...

One things to tell you that iam happy that u give comment to my blog. and actually i feel boring about ur blogs because you have so many blog to see. And i also tired to see ur blog because do not have any picture!! Just give u my feeling about ur blog. And the purpose i put so many pictures in my blogs because i want let the pictures talk to you all without saying any words. words is boring !!

Bizmind said...

Haha.. What to do, I have many things to discuss and people told me that 1 niche = 1 blog.
So if I want to talk about 10 niches, that will required me to make 10 blogs. lol..

Sorry I don't have pictures inside my blog because I don't have any camera yet.


Thanks for the visits.. :)