Your Money Must Work for You

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Saving money is important. The average person may set aside money here and there, in a rather inconsistent way. They save on some months; on other months, they withdraw their savings or do not save at all. Financially successful people set aside a fixed amount from each paycheck and deposit it directly into a savings account.

Try to save enough money for six to nine months' worth of spending in an emergency fund. Strive toward that objective with each paycheck. No matter how much you earn, put it in a place where it's earning compound interest.

Your money must work for you. And the best way to do this is to have income from passive sources. Passive income is money that you earn without having to do a lot of "active" labor to keep it. You can make money even when you're not working by creating something like a blog, eBook, video, or internet store. You can also invest in passive income sources, like rental property or stocks, to earn money passively.

Set a goal and focus your thoughts on believing you can attain it. Put it in writing! It is what separates the extremely successful person from the average person.



😍#ilikeitalot!😍


All photos were taken by me with my iPhone.

Gold and Silver Stacking is not for everyone.
Do your own research!


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Best Regards,

@silversaver888

I am not a financial adviser. This article is not meant to be financial advice. My articles on cryptos, precious metals, and money share my personal opinion, experiences, and general information on cryptos, precious metals, and money.
All photos, gif, and video were taken by me with my iPhone, unless specified.

Thank you for stopping by to view this article.

I hope to see you again soon!

Hugs and Kisses 🥰🌺🤙!!!!



I post an article daily. I feature precious metals every other day, and on other days I post articles of general interest. Follow me on my journey to save in silver and gold.

@silversaver888

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66 comments
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Wow! Thank you so much for this great idea and article. It will do a lot for me, because I love to save a lot

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The earlier you save, the better! Assuming yuo start with $100: even with your allowance, you can save $10.00 a month. By the time you graduate in two years, if you don't withdraw, it will give you $362.35.
!invest-vote

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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 153 of my contest just started...you can now check the winners of the previous week!
!BEER
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Waooo, that's a great idea. Sometimes we collect money and save it but no longer this money could be saved. Its a best way to save amount.

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More than likely, I'm one of the most Successful People in the Silver Gold Stacking Community... I have experience in everything you suggest in your Blog, plus one move very important way of saving... At Present, I've been doing my every day Spending, using Paper Fiat... I get back various amounts of U.S. Coinage with my Change... It adds up faster than anyone thinks... I've been doing it for years now...

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Woot, woot!
Continue doing what you're doing, my friend!
!invest_vote

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What most people don't realize is that I already have Staggering Amounts of Silver and Gold... At Present, I'm trying to acquire Staggering amounts of Common U.S. Coinage...

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Absolutely @silversaver888 !😊
Starting to save and invest is step one……
They staying consistent on a regular set schedule!😊

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Save for an emergency fund. And then save to invest!
And we do this consistently!
Passive income.... the enjoy life, @silvertop!!!
!WINE

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Money is a financial instrument, so have fun with it and take risks. Money should be used as a tool to acquire physical assets and passive income.

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Without this recipe I wouldn't be a debt free man at this point, making my money work for me is the best but from my experience consistency is the biggest problem, for example I have been blogging for the past three months on a daily basis and some days even creating two post with decent results but when ppl don't see quick results they tend to quit, I was thinking telling my sister about Hive because she travels a lot as a pilot and may be was easy for her to blog but I know she will quick after a few weeks when she doesn't see the results she might imagine would quit, for me there are hard days where I have to manage been at work, things going on at home plus I have to deliver daily to my blog, its not easy

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Simplest form of passive income is just buying a GIC or Bond and holding it to maturity, however, the rates offered often do not come close to keeping up with inflation and are subject to depreciation in a rising interest rate environment. But it doesn't mean we should not have some as a part of a larger portfolio. Parking cash in a short term for some return is better than none before the capital is deployed elsewhere.

Always, with love 🤗🌺❤️

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Except for the cash you hold, everyone should try to make their money work for them. Pennies add up to a dollar.
Hugs and kisses, sis 🤗
!LADY🥰🌺🤙

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I agree 100%, the power of compound interest is amazing. Most people don't realize it but over years even a few dollars can really multiply. I shared a post from Futurama recently where Fry goes to the bank to collect his 97 cents out his bank account after being frozen for 1000 years only to find his account was worth 4.3 billion due to compound interest!
!luv
!hug

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Ms. Saver @silversaver888
The Flowers are Blooming in Your California......

!LUV

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I have money thats in my account, pays interest regularly. Actually i didn't know about this until i check my e-statement. I think about 1% so it a good rate !

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!LOL
!PIZZA

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(Edited)

PIZZA!

$PIZZA slices delivered:
@silversaver888(2/5) tipped @stokjockey
stokjockey tipped silversaver888
stokjockey tipped ssg-community
silversaver888 tipped olympicdragon

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One should not put all their eggs in one basket for sure sis! Diversity is the name of the game and having part of a portfolio in passive income is definitely a must! Should a time come when a person is out of work, then it can help them to know that they are still earning.

Thanks for sharing sis! Love ya much!🤗😘💞🌸 !LADY

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(Edited)

If we have to stop working, our passive income will tide us over, and it will keep on paying us! Yes, diversification!!!
Luv ya, sis 🤗
!LADY 🥰🌺🤙

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Love ya back!!🤗😘💞💜🌸🤗😘💞💜🌸

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Try to tell my son this all the time.

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!HBIT

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Wow! This is exactly true , i have to reinvest because this is the best time to do invest 😊❤

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