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Tuesday, January 16, 2018

HOW TO SAVE MORE MONIES FOR YEAR 2018?

How to save more monies?
Dear readers, while investing is a way to grow one’s monies, I would always like to encourage fellow investors not to invest a large portion of your total cash into equities as equities are not always the safest. There are some value investors who do not mind parking lots of their monies in value stocks for years, aiming to achieve a compounded rate of interest like Warren Buffet. But again this is not always for everyone like myself who think that one should build up a war chest to start investing in when the stocks markets are at a discount. I believe there are pockets of such investing opportunities in year 2018.

To build one’s war chest for investing, one would have to save more. One must be motivated to save and what better way to try to grow your savings is to measure it. If one cannot measure something, one cannot understand the thing, one cannot improve the thing and hence one cannot control the thing. For myself, I have always tracked how much I spent daily, right down to the nearest 5 cents all the way since my undergraduate days. It has been a practice for a long time already.

One can chart one’s savings in an excel and I always believe in easy to understand graphics. Hence, I will like to encourage everyone to track your savings and represent them on a monthly bar charts. In this way, looking at the visuals, one will naturally be motivated to save more to achieve a bar longer than the previous month’ saving bar chart. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.

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