Who doesn’t like money?. Everyone does, but how to take good care of money to increase is a big problem.
This post will remind you of one important thing you have ignored. You want to be successful but you never put an eagle eye on your monies. It is time to do some personal savings now. Never forget that time is money. Learn how to save for future success.
The Idea or the approach is the most important thing for seeing success. I always like to share this quote:
“The American Dream is still alive out there, and hard work will get you there. You don’t necessarily need to have an Ivy League education or to have millions of dollars startup money. It can be done with an idea, hard work, and determination.”
– Bill Rancic
When we talk about savings, many people think about Banks, Credit Unions, and such likes. But that is not all. There are many other ways you can save for future success. I will share with you one good personal saving strategy to enjoy your own money at large. This method of saving can help you pay yourself each month. You can always use it to buy something you can’t afford at ago.
I call it the “Vault Savings“. Why? because it deals with commitment, sacrifice, and a strong mindset. I used this method of savings to buy my first mobile phone when I was a teenager. I was just a student but I was able to buy my first phone within 4 months.
Who Should Make use Of This Method Of Savings?
This is a personal saving strategy for future success so there is no boundary. If you only want, you can. But I recommend Children, students, entrepreneurs and those who earn a meager income. If you are rich already, keep reading; You will gain some inspiration to keep moving forward.
Parents can also use it for their own benefits or their Children’s benefits. Teach your children how to save for future success. It is all about making good use of money, putting down some amount of money every day. There is a saying that, little drops of water make a mighty ocean. Let’s go ahead and “cultivate” money to reproduce like we are into large-scale farming.
This is for anyone who spends money each day on things. It could be food, clothing and other basic needs. So far as money passes through your hands, you are eligible to make use of “The Vault Savings“.
Preparing To Learn How To Save For Future Success Using “The Vault Savings” Method.
This is not for lazy people, but those who really want to enjoy their monies on things they need but can’t buy at a go.
Things you will need:
♦ Something you can save the money into eg. piggy bank
After getting the above items, open your book. Rule vertical lines on each page to get three columns. The rows should contain dates on which you save.eg. 1st January, 2nd January….up to the last date of the month. Start from the first page. If it becomes full then you turn over. It’s a gradual process with full commitment.
If you begin in the middle of the month, don’t worry. Just do it for the month to end and continue with the new month.
Let the first column be the “DATE ” you will save. The Second column should be the “AMOUNT DEPOSITED “.The last column should be the “SUCCESSIVE AMOUNT” of money each day. Then at the button of the second column should be the TOTAL of your savings for that every month. This should reflect the amount in the third column. The third column gives you a visual amount of how much you have saved so far.
Getting Poised To Make Use Of The Vault Method Of Savings
Before you begin to save for future success, set a goal. Ask your self, what do I need so badly that I can’t buy at a go?, what will I need in the coming years. The “Vault Saving Method” works best if the price or cost of your target is not too expensive. The reason is, you will keep all the monies with your self. If you get something better to hold your huge money then no problem. Don’t worry, Drug Lord Pablo Escobar saved his million dollars in his room.
After you have a goal, dare to do it with all your might. Motivate yourself. Even if it is for five or ten years, you can achieve your target.
When I first used the “Vault Savings” method, I found great inspiration from one of Arnold Schwarzenegger’s quote:
“The mind is the limit. As long as the mind can envision the fact that you can do something, you can do it, as long as you really believe 100 percent.”
Write it down somewhere at the end of the page. Any time you set your eyes on this quote; Believe me, you will be willing to save more for future success.
Now, the next thing you have to do is visit www.futureme.org. Here is where you will put the target of your savings into writings that will challenge your seriousness to succeed in the future.
The moment you open this homepage; You will see “Dear FutureMe“. Continue by writing a letter to your self in the future. If you are saving to buy a phone, laptop, car, machinery or even wed your boyfriend/girlfriend write it down.
Choose the specific date you want that letter delivered to you. It could be in a year or more. You will be required to add your email for delivery of your future letter. See, it is not so hard to be a futurist.
Executing The “Vault Savings” Method
First, consider your income level and do the saving. Decide on the minimum amount of money you will put down daily. Please be committed to yourself. It is for your own good. Don’t be bored by it. There is a saying I like so much; “No pain no gain”.
Make it a must. I mean, let it be compulsory to put some amount of money down. Let’s say in the 1st day of January 2018, you put down $2. Write it down. The following day $1.Write it down. Should if the 3rd you couldn’t put down any money, put a dash(–) there. Surely, a day will come that you will multiply your savings power.
Practical Example Of Using The “Vault Saving” Method.
Let’s say a washing machine is what you need. You don’t have bulk Money for that. What you have to do is economize your daily expenditure to get some for savings. Avoid impulse buying and unnecessary usage of money.
Remember, you have written a future letter to yourself on this target. Don’t let your future letter put you into Shame. Instead, fulfill the target and smile when the future letter arrives in your inbox. There is nothing beautiful than fulfilling your own dream.
Let’s say the washing machine cost $240. All other things being equal if you put $2 down each day; Within four month you will get $240 to buy it. It works according to your income level and your savings ability. You can use this method to buy anything you can’t afford in the future.
Don’t forget to keep a proper record of your savings. At the end of each month. Use a calculator, to sum up, what you have saved.
When it is time to retrieve, add the total of each month and count the money. It should tally with what you have written.
Tips On Vault Saving Method
You can faithfully do this kind of savings with the little money passing through your hands and not coming back. At the end of the month, calculate what you got, use it to pay for yourself. There is nothing sweeter than this.
The Bottom Line
We spend money almost every day. Money spent never come back, but money saved is already with you. Learn how to avoid spending on unimportant things if you REALLY want to buy or do something you can’t afford now. You see snacks on the roadside, and you are tempted to buy.
Don’t buy it, instead use that very amount you had wanted to use to buy the snacks for savings. This shows that you are making use of economic principles to achieve your dream.
It means you value your needs more than your wants. This is one of the best practices to help you save for future success.
Did you find this article helpful?”If “Yes” then don’t forget to share with friends, families and loved ones. Feel free to comment, contribute or give feedback.
NB: It doesn’t mean you should be stingy because you are committed to your savings. Give when it is absolutely necessary.