Saturday, September 30, 2006

The First Step ..... Just Do It !

I cannot claim that I am financially free yet and can start enjoying watching the sun setting in the evening everyday while I'm sipping fresh, cool pineapple juice on a ship on a cruise to somewhere.

But I'm working on it and believe it will happen one day in my life (I mean the financially free part, I have no intention to become a sailor yet.)

A few months back, a friend asked something about money and investment.

I said to him, you may think it is impossible, but the reality is that if you save and invest the saving wisely you'll be able to be financially free as early as 10 years.

Then, you will ask, how can that be?

First, you have to know that there is a relationship between saving and becoming wealthy and financially free, but in life, saving hard for most people to do.

Why?

- Saving is hard when your neighbour bought a new car
- Saving is hard when your siblings is driving their newly bought car
- Saving is hard when your in-laws kept repeating when you are going to change to a newer car.
- Saving is hard when your father casually said, don't you want to buy that Mercedes.
- Saving is hard when there are so many fine things and they made it seem a privilege to have it.

The latest model of Mercedes, BMW, Honda, and all the fashionable labels - Gucci, Ralph Laurent, Estee Lauder and Nike, got to have them all.

Finally these leads to unnecessary debt and things that you find you may not need after all.

While, in the mean time helping to enrich, first those must have (personally I would prefer them as nice to have) things manufacturer, its associates, next the sellers and lest I forget the ever willing credit card pusher.

You see, when I say helping to enrich its associate, you can become one. Which was discussed more in detail by Peter Lynch in his book One Up On Wall Street.

Saving needs strong will power. You need to find and know why you must save.

If you save, that will be the first step towards controlling your finance and will lead you to your financial freedom.

You can check this yourself. Ask those people who became wealthy and continue to be one, and then read books on personal finance.

That is the wisdom from the past and will continue long to be, after you and I are mere dust.

Why? Simply because if you want to be wealthy, you must have the money to invest and it is much, much healthy to invest with your own money that you saved.

Two books that helped to mold my my perspective and paradigm of saving are these two books, The Millionaire Next Door written by Stanley and Danko and The Richest Man In Babylon by George S. Clason.

You will gain much, if you read and promise to yourself to follow the advices sprinkle through out those three books.

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