The Art of Saving

The art of saving …. explained:

1) Set a monthly savings target. Use a percentage of your income so that your target will increase as your earnings increase
2) Make saving easy – have your savings automatically deducted from your salary. With this direct deposit option, you remove the temptation to spend
3) Be consistent. As your savings accumulate, so will your interest and the compounding effect will accelerate your earnings.
4) Maximize your returns – review your savings account regularly and trade up to longer term, higher yield instruments at times. The type of investment instrument that you choose will depend on your stage in life, and risk profile …. thus, seek professional financial advice.