It is a fact that consumers today have easy access when it comes to BORROWING money. This is perhaps the reason why people are really not into saving money for a rainy day. Saving money is still the best insurance to protect you from unexpected expenses. Knowing how to save money is also the best way to control and manage your finances and this is so true for wage earners. Applying for loans such as a PAYDAY LOAN is always the easy way out. Applying for a loan should always be the last resort and not the priority when financial problem creeps in. Saving money is simply planning for a bright financial future and individuals can easily do this with just a little patience and discipline.
Availability of Loans
Today loans are easily accessible but getting one is never cheap because it always comes with a premium; and this premium is the interest it carries. Saving money on the other hand will cost you nothing because it is your own money that you keep aside. By saving even just a small percentage of your earnings, you will find that in the long run you would have saved a lot and having that kind of a surplus will ensure that you will not be caught flat footed when an unexpected financial problem arises.
How Do You Start
You can take as little as 10% from your monthly earnings to put in your savings account and this is a good first step in securing your financial future. The key here is discipline. As long as you are consistent in saving this fixed amount, you will soon discover that you have a sizable amount of surplus in your pocket. You can increase the amount of savings when you earn a little extra from overtime work or from other incidental income. Saving money is already a part of controlling your finances so you can now start to plan on how to budget the rest of your income. Being able to balance your income with your expenses is the final step in how to avoid borrowing money.