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 |  Thoughts, we all have them. What is yours? |
| First, I am not sure I agree with the World Economic Forum. What I understood, most people don't have more than one months of expenses in their savings. However, lets examine it. My plan to wise spending and saving is this: !. Evaluate how many years you feel you have on this planet; 20, 30, or more, If you feel you have about 40, then you will need to know how much you think you will spend each year. If you are retire, hopefully you have some type of program going; stocks, 401K, savings, addition income coming in from rentals. One has to have some concept of what it will cost per year for just essentials. If you managed to set up some type of retirement you probably also have your living quarters included in that program. Maybe you paid off your mortgage or will have it paid by the time you retire from you job. 2. If you want to travel, then again, I hope you have calculated for monies to be include for travel. If you single, this could be a lot easier to figure. A single person might even consider working on a cruise ship, or become a guide from an Elder hostel program where you would travel while being a guide. In any case, where will the money be coming from? Note: Very important you don't try to live above your means. 3. Budget, budget is the only way I see this happening, unless you are one of those who won the lottery or have a rich uncle who left you his inheritance. 4. Once you know what it will take for basics to live, only then can you really figure how you will have the monies for the extra, fun things in life. 5. Avoid in early life using credit so that your money is not wasted on interest. 6. Developing a savings program in early life is the best gift you can give yourself. |
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