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Friday, November 8, 2013

Acquiring Wealth Through a Saving Culture

The last time I assertively stated that  there is no sure way to financial freedom other than through saving, I was almost burried alive by some of my readers who have become tired of this 'cliche'. However, Unless you are lucky enough to win a jackpot, you are neither going to get out of debt  nor invest something for your retirement, if you do not save.

We all want to be wealthy but we want to reach there through shortcuts such as marriage, inheritance, or even stealing.

To accumulate wealth, you must understand the importance of saving. You need to have your own income in order to be wealthy, invest and obtain assets. It is this saving that will work as portion of your capital when starting a business, investment or the deposit when buying your dream home.

To begin Saving, you must first understand your financial position and  then make sure you are living within your means. Simply put, this means maintaining a lifestyle that you can afford and sustain. No uncessary loans.  Most middle class families in Kenya today are defined as people living beyond their means.  Look at the  amount of  debt they have interms of car loans,  home loans and the rest, and you will understand what I'm talking about. To change this, they need to start saving. And  start it immediately.

It is everyone's dream to meet their financial obligations and having something little to spare.

The only way of achieving this goal is by identifying the most profitable activities that will help you fulfil your financial dreams. The best way could be through investing and letting your money work for you.

To be wealthy or not can as well be viewed as a choice which totally lie in your hands.
Wait no more, start saving, start investing, roll your wheels the road to financial freedom and success.

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