Business 1 Lesson 40: “What would I have to give up in order to save 10% of my income?”

There would have to be a lot of sacrifices in order for me to save up 10% of my income such as; I would have to not spend time watching films with my family and instead of that I’d be better off studying more about how to run my particular business. How to create one, how to run it, how to get employees, and etc. I would also have to give up spending money on small things. That may not sound as much but, if u keep paying for games, movies, or other entertaining things you will waste so much money and you might not even know it. So, to avoid this problem just don’t spend money on games and etc. or even better just don’t play games and don’t be tempted to use money for that because it’s not worth your time.

I would probably also avoid gifting money to others/giving gifts to friends, family, and etc. even though this is family and friends we’re talking about you still have to worry about yourself being in debt because of this. If necessary get a decent gift or whatever it is that you have to get and get this thing that fits with your budget. You don’t want to ’cause yourself problems by spending extra money right? So, guys, lets get to less spending and more saving! Sometimes I make mistakes by saving money to buy something and once I get enough I spend it right away. I realized after that I would have nothing left after. So after that incident I decided to save extra money (which is about 10%). That way when I buy something I would have, for example,100 dollars left in my savings. Saving 10% is not only required too, it’s also really helpful in the sense of savings. I hope you enjoyed this essay or at least learned something from it!

~AL