Build Savings to Build Freedom

There is a crucial element you need to create more freedom for yourself, yet it is one that so many people neglect. We've heard of it, but unfortunately it is not required in schools, not explained well, and dismally underestimated.

Without it you may find yourself in dire straights.

With it you will increase and exercise your freedom dramatically.

It is something very simple, yet very powerful. What is it?

It is a savings.

I call it MoJo.

When you start a savings account, and add to it whenever you receive money, your life begins to change.

Many worries start to disappear. You feel lighter; better. Your confidence increases. Fear goes away. You begin to live life better than before.

A savings, even a modest one, creates wonders for us.

A Savings Provides:

1) Financial Security - You have a safety net in case something goes wrong, or for emergencies. You also have a stash to take advantage of a golden opportunity, when it arrives.

2) More Freedom - Many countries require that you have money in order to get a visa. With a savings you qualify. With a savings you'll have more flexibility to move. When you want to do something cool you won't be concerned about spending your last amount of cash because you have a savings.

3) The Right Mindset - With a savings you will always have money. You won't be in a negative mindset thinking "I don't have money." Instead you'll always KNOW that you do have money. Also, by adding more to your savings, you know that your savings continues to grow. You will focus on what you want, which helps tremendously in every aspect of your life.

4) More Money - When you place your money in an interest earning account, your money then earns you more compounded money. Albert Einstein once said "The most powerful force in the universe is compound interest." See how much free money you'll get with this calculator: http://tiny.cc/yh0lq

How to Save Money

Decide on a percentage of your income that you wish to save. This percentage should be something that should stretch your savings potential a bit. You should aim to save at least 10% of your income. Save more if you can. Even an increase of just 1% will work wonders.

Whatever percentage you decide on, skim it off your pay BEFORE you do anything else. This is vital! If you want to save your percentage after you've paid the bills, and after you've partied, you'll probably find yourself without any money afterwards.

Take at least 10% of your income and put it in an interest earning account - do this FIRST, BEFORE paying anything. This forces you to save. If you fall short on the bills you'll find a way to get the money without touching your savings.

Decrease your costs to give yourself an instant pay raise. Put this pay raise into your savings account. A great way to cut back on spending is by writing down everything you spend money on and how much is spent on each item. Every week look over your list and find ways to decrease your spending without decreasing the quality of your lifestyle.

I remember a long time ago, when I was very poor, I wanted to go on an adventure. I had maybe $200 to my name and I wanted to travel to Mexico, Seattle, then Alaska. I did it. How? By making a list of everything I spent and finding where I could cut back on spending.

Every time you receive an income save a percentage of it first. Every time you spend money make a note of it.

You don't need to have a savings of 1 million dollars to be free. Just something. Anything. It creates an avalanche of mental positivity and physical flexibility.

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