The Habit of Saving

The FOURTH Law of Success is the Habit of Saving! All successful people have a habit of saving money… usually they put away a certain percentage of their income. It’s important to make a commitment to save some amount of money on a regular basis. It’s the ONLY way to grow your money. And it’s best if you can take that amount and put it into an investment with a really great ROI.

I recently heard a great story. A grandmother gave her grandson a dollar, and the grandson wanted to go and spend it all right away. The grandmother told him to only spend 70 cents and to save 30 cents. Her grandson wasn’t happy with this, so she took him on a journey to the poorest section of town. She had him observe how they lived… how their homes were run down and there was trash around, and the people seemed depressed. She told him that they always spent all of every dollar they got. Then she took him to the most affluent section of town and showed him how all of the homes were beautiful, the lawns were trimmed, and people seemed happy. She told him that these people only spent 70 cents of every dollar. She then said to him, “How would you prefer to live?” The little boy happily put 30 cents in his piggy bank and spent the other 70 cents.

He learned the habit of saving at a young age.

Have you made a commitment to saving?