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Money Habit #16 – If You Don’t Save Money, You’ll Never Be Wealthy

Perhaps the greatest discipline of the wealthy is the ability to save money. 

My Dad said once, “Carol, every month, save something from your income.”

Even if it’s only $10/paycheck at first, do that. 

If you spend everything you earn, you never can build savings and investments. 

The easiest way to start saving is to make it automatic – a withdrawal from your paycheck, or from every check you collect as a business owner.  Some amount of that income goes into an interest-bearing savings account. 

When you accumulate, say, $200, that money goes into investments.   If you can put the savings in your retirement plan at work,  all the better because it will grow tax-deferred.

Habit #17 next, Savings and Interest

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