It's Not Your Salary that Makes You Rich, it's Your Spending Habits

in photo •  7 years ago  (edited)

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There was a time when I worked in a bank. 🙈

It was the time I first thought about investing money somewhere. Of course, I’ve approached my colleague, a specialist in investments and asked for advice.

My question was quite simple, and at that time it bothered me a lot...

Was my salary enough to start investing?

The answer was quite the same as I was expecting it: “My and your salary is ridiculous for investments...”

So, for about a year I put the topic of investments aside. But, luckily, I always tend to develop myself, so this topic was approached by me again.

The most interesting and unbelievable fact was that I was able to invest money starting from 10 dollars. Wow, how comfortable! Of course, the payments were not sky-rocketing.

But this sets your mind on investing first of all. From the moment you’ve began to invest at least with the sum of 5 or 10 dollars, you’ve started to learn new things about the investments and you’ve started to learn how to invest and where to get money to invest.

If you’re thinking about investments, but havd a belief that you can invest only thousands and millions - don’t think so.

The road to the point where you invest millions starts with the step where you invest ten dollars. 😉


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I agree, it is not about how much money you put in. The beginnings might about luck also – and doing research some time before you buy in is also good. Making your own opinion is best strategy.

Investing with a little bit of money means Learning.

now that I can agree on for sure.. I started to invest last year and even though I'm presently losing money meaning. my stock have fallen I have learn a lot and will be making better decisions in the future.

True indeed, it’s not not how much you make, but how much you keep. Investing what you could spend on a latte everyday can make the difference. Starting early is normally more impactful than the amount! Good post!

Most people need to consider buying less. If we buy less and own less, we could keep more of our money and invest more into meaningful investments. America is obsessed with owning the latest and greatest toys. It is my goal to buy less and pursue time investments that allow me to experience more in life.

So true and not only in America! I just spent a whole year not buying anything non-consumable. During this period three items really needed to be replaced. $200 spendings and I even now, I wouldn't know what I would wish to buy next.

This is very true - definitely here in the U.K. too!

You're so right!! It is so true!!!

If you could check my profile it would be awesome for me!! Thank you 😊

Be sure I'll check it, thanks for commenting!

how do you do this automated replies I want to learn

I think you acknowledge basically that this is a complex issue. I agree that spending responsibly is import - I'm pretty Left-Leaning, but I don't ever mind people pointing out pointless spending. Buying a $2 coffee vs a $5 coffee wont buy you a new house, but it adds up over time. Trust me, I've made that change myself.

With that said, as somebody facing financial stress right now, it is a lot more complex than that. Other people here have mentioned luck and the role that plays in setting you up, and you of course need to be making some money to be able to save money. I think you know that, but it is a really important point to consider whenever this type of conversation comes up.

Thanks sharing your post.

Не могу не согласиться, @aleksandraz!

True small and steady investment will take you long way

Lovely picture, i have always been a lover of nature and i love your dress btw. 😊

I know a proverb;

It will become a lake drop by drop.

waw so great ... You are very beautiful, attractive and exciting

I would re-title this piece! It isn't about spending, it is about investing. Nice true thought though!

Always remember in every 100 dollar bill . They are 10,000 pennies. Each small investment counts. Just dont try bring 10k pennies to some places . They may snarl at you.

Fantastic piece. Very educative @aleksandraz

Get post. Investing small is great for long term investing and makes for a great retirment.

Thank you for this! I learnt from it!
Oh and PS do you mind checking out my last post? 😁😁

I agree, you have to some aside no matter how much, or little you make. Starting a habit of saving 3 or 5%. The younger you start, the more compounding. I bought my first house at 19 when interest rates were 13%. I have owned 100dreds since. This is good advice.

enlightening writings and can be motivational

Glad it was useful for you!

my friend, the beauty of your life. can always share stories with us here, whether it's about your journey or about your daily life. thank you my friend. You are my best friend.

Thank you very much, my darling!

thanks again @aleksandraz me. if you have a chance, visit me my friend. do not you forget me,😄😄😉

You are right. It is all about the mindset and not about the amounts. It took me quite some years to grasp it for myself, I wish anyone would learn this lesson as early as possible in life.

Hello! Your post is interesting, we invest more and less spend superfluosus
things!

I have worked in the grocery store, and can say that most people buy unnecessarily much food that is being thrown. People could save money and start investing instead of spending money for unnecessary shit that costs a lot.

true that!!!

absolutly I agee with U, you review the article in a good way and I have no objection to your description.

And would be awesome for me if you wanna check my profile

This is a great little post and can be applied to many things in life! With everything we just need to start with baby steps!

Heii my freind..
Please upvote me :(

Great post. I think more people need to consider putting more time and money into investments. This reminds me of a book I read called "How to Own the World". The first few chapters talk about why you should always try to invest your money, no matter how little you make.

The key points are consistency and compound interest.

You nailed it. Absolutely spot on. Baby steps it is. Little drops make the mighty ocean. It's all about discipline and sacrifice. We can always start small and end big rather than wait for the big bucks before we invest. Thank you for this.

Your title caught my eye. I tell myself this all the time.

I think you are absolutely right about investment.

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Your article has been very good. I agree with you. If our salaries were even more then our costs would have been more and more normal.
Thanks for your good post.

Happy Steeming

I am pretty much shocked. Believe it or not,
I used to work in the bank at one time but I was forced to leave. If you had received this writing then it would have been better for me!
BTW who is in that Picture? Is that you?

Yeah, It's me! You did not recognize me?

Completely truth!

gracias por compartir tus ideas Thanks sharing your post

You are spot on. If a person has an income, they could invest a portion of it. A massive sequoia tree began as a single seed. We reap what we sow. Good post.