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Saving To Save

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Transcript

Saving to save is a recipe for disaster. Now you might think I’m going overboard with that or if that’s too much or if that’s too harsh. But the truth is, when you’re trying to save for the sake of saving, it’s not quite a good behavior just yet. Because when there’s inconsistent savings, inconsistent spending because you don’t have a target of what you’re saving for, there aren’t any goals attached, there is no motivation, there is no sense of achievement when you hit the goal because you don’t even know what the goal is. These are all the things that can happen when you’re saving to save. So whilst you might be thinking, okay it’s payday or an invoice has come in for your business and you’re getting ready to put money aside, start to think about what you’re saving for. What’s the goal? Short term, medium term, long term, it’s okay. Whatever there is, attach a goal to it because that will help you keep accountable.