Finding a way to increase your savings is hard, and I was given this advice since I was a kitchen hand washing dishes. Save 10% of your income – but how do you do it. This method mentioned in the video from Richard Fidler makes a lot of sense.
More about the 21 day challenge here.
Transcript of Save 10% of your income video:
Welcome to day four of the 21-day challenge. We don’t know what it is then look below now today we are still talking about decisions decisions that change your life and today I’m going to invite you to think about a wealth topic decision. Now wealth is not about how much money you have in the bank although how much money you keep each month is part of it wealth. Could be who you’re surrounding yourself with what holidays you go on where you go how you give back to your community and how you feel about that this is another thing about wealth it’s not just about money.
But today we’re gonna talk about how you could save 10% of what you earn every month okay recently reading a book by Tony Robbins called Money Master the game it’s been quite interesting and one of the things that he talks about in there is the ability to save 10% of your income without actually changing your perception of life and it’s about promising yourself that you will save more in the future now it’s a fantastic concept I’ll get the name of the original idea creator and I’ll put it put it below.
But essentially what you do is you promise that next time you get a pay rise you will take 3% of that pay rise and put it into your into your wealth creation tool okay it’s just so you don’t get any more money when you get the pay rise you don’t actually change the way that you live your life nothing changes for you but you start creating wealth for yourself that is one way that you can decide to save more in the future and create a better future for yourself.
Tony calls it the freedom fund and I think that is a fantastic name so let’s be more wealthy in a financial sense going forward and so that is the decision that I’m inviting you to make today and decision about your wealth about how you can save more in the future and can make this commitment to yourself now
Okay see you in the next video.