Forced Savings

I’ve heard countless people say to me that it is just impossible to save given their regular income and expenses. There always seems to be nothing left to save after all bills have been paid. Almost all of them thought that their circumstances would be a lot different if they had a higher income. This seems to be a very obvious solution – Increase your income, pay your expenses and leave the rest for savings.

What we often forget is that an increase in income usually necessitates increased expenses. A higher paying job may require more representation expenses or an additional job may require additional house help because of the decreased time available for your family and so on. The bottom line is this: Anyone can save at his own pace if he/she consciously forces himself/herself to do it. Any amount is always better than nothing.