Not because of my two decades of experience I like to write about money, but because I love giving other financial knowledge to the hand. It is very important to me that others can expand their wealth in the long term and thereby make their lives happier.
Successful asset accumulation begins with planning
It is important to start planning your finances as early as possible. Few have a sense of how cumbersome many everyday things get when they are young, when they are old. Suddenly you cannot do much for a lot of things. So what if you are no longer able to run your finances when you need them most?
Then there is only one loving family that will keep you and that too can be a great balancing act for you as well as for your loved one.
Therefore, plan ahead and start working on complicated bank accounts before investing in your liquid bank accounts.
The first decisive step
Each journey begins with a first step. If you are currently spending little money on the site, you should take a close look at your financial flow and the area you can influence more quickly: your expenses.
The targeted increase in revenue happens only in the second step.
Maxim Bederov: “With every Euro you spend, you make another rich!”
Always remember that every Euro spent is not for you, but for another. Therefore, spend the last three months of your account on potential billing for subscriptions that you no longer use or other charges that have been a thorn in your side for some time. For example, this can be a fund that has been generating less and less return in recent years or even made you losses. How long do you want to stick to such systems? In the meantime, you probably would have been able to make long-term positive returns with another investment. You can count on the loss on top of it.
Account Check Up by Maxim Bederov
If that does not feel good, clean up thoroughly. You can then add the “saved” amounts from the debits that no longer occur. These are now not spent on consumption but distributed in the form of a savings rate in several accounts. For starters, you will need three savings accounts. The first as a reserve for the unforeseen, the second for amenities that you want to treat yourself, and the third account for the long-term accumulation of assets. This is not touched and can also be invested in safe and long-term stable values, as well as run in an investment account, which is therefore designed for longer-term investments.
You may like to devise a scheme of how you want to distribute the savings. The important thing is that you really serve each account regularly with a fixed percentage and check again and again whether you can not increase the savings rate any further.
Have fun with your Account Ckeck Up. – Maxim Bederov
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