Accelerate Your Savings
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Discover how to effortlessly save more as your income grows, allowing you to expand your financial margin instead of wondering where your money disappeared.
Video Transcript
Video Transcript
Let's talk about accelerating your savings. One of the key things I see whenever talking with people is that we have been taught how to budget but not accelerate the savings. And let me show you what I mean by that. Most people get paid and put their money in the checking account and then save five, 10% going into savings. What I wanna show you is let's do some quick math.
Let's just, for simple math sake, put $5,000 in the checking account. Move two 50 over. Sounds great. But every single person is on bearable income. Everybody.
Do you ever get birthday money? Christmas money A raise, everybody is unbearable income. So what happens whenever you, in December, maybe for Christmas, get a $6,000 income? So you got a thousand dollars bonus. Are you somebody that continues to do two 50?
Or maybe you say, Hey Jim, I do $300. Well, great, that's nice, but that's stinking thinking. Why? Let me show you what I encourage you.
And if you're married, to get you 1 and your spouse to put everything into the savings account, and what you've told me is you actually spend 47 50, that's the savings of two 50, staying inside the savings account. Now, if everything's going into savings, and the next time you have a bonus come in at 4 6,000, what just happened? You saved 1250. That's a whole lot more than $300. This right here is a way to flatline your living expenses and increase savings into your savings account just because of changing the way you deposit your income. So this is something that I highly encourage you to do because what you'll see is that as you fix your expenses and your income goes up and down throughout the years, you'll increase your margin.
That's huge. And that'll allow you to put money towards debt that'll allow you to do more things that are on your priority list because you've intentionally capped your living. Now the quick question is who does what by when? Who that's you most likely does what? Change your deposit of payroll and everything that you do into your savings account by when the next payroll, and that's how you do purposeful living.
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