Saving Money – Learn By Doing

by Adam on March 7, 2011

Do you have £1000 just sitting in your bank account?

In the grand scheme of things £1000 isn’t that much money, really. But if you’re living from month to month, without much wiggle-room between your income and expenses, then the idea of having £1000 in your account might seem impossible.

Why is it that some people never get to £1000 in their accounts at any one time, and others seem to accumulate money and reach that milestone over and over again?

Whilst a strong income is helpful, it’s mostly about having the right mindset:

As with most things you, getting the right mindset comes over time, by *doing*.

Learn by Doing, Not Lectures

I realised how importance of ‘doing’ as during a driving lesson at the weekend.

I’m currently learning to drive and am getting rather frustrated. Not about the driving itself, but rather with my instructor’s method.  He is a fan of making me stop the car and talking through what I may have done wrong, or what I need to consider.

Sometimes for 20 minutes!

Whilst talking through  manoeuvres or techniques was helpful at first, I felt it was not as important as letting me, simply, drive.

Similarly when it comes to saving money, the experience of actually *doing it* is more powerful than reading about how to save money. And once you’ve made a start it gets easier to keep saving:

You Should Do It

You’ll get a feeling of security, of opportunity, of possibility. You could use that money for anything, but once you’ve got it, perhaps surprisingly for some you won’t want to spend it. Because the feeling of security, opportunity and possibility is worth

more than than face value of the money sitting in your bank account.

You Can Do It

If you’ve reaching £1000 its easier to do it again, or go for the next milestone. You know that it’s possible and if you’ve never been good at saving money in the past, reaching this point means you’ve broken a barrier, mental or otherwise, that stopped you from being a master of your own money.

You Will Do It

Reaching £1000 or more, requires will-power and vision for the future. It might be hard climb. It may be a struggle, but once you conquer the mountain, you’ll gain perspective and your future plans will become more real.

And you’ll enjoy the view!


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{ 2 comments… read them below or add one }

Get a loan to payday

You should avoid to spend your hard-earned money on maintenance fees and also should be earning some serious interest on your checking and savings accounts.

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Student loan is known as a good debt because it is used to increase your earning potential and tends to be of low interest rate.

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