How To Have More Money (Part 2)

While not every one is born with a silver spoon, so to speak, you can find yourselves within reach of, say, silver accessories, Wencia wristwatches and, taken to the extreme, silver cutleries, by having more money.

Continuing from "How To Have More Money (Part 1)", one way by which you can have more money is: To Pay Yourself From Your Income.

Besides the usual payees such as household operation manager (spouse or parent), telcos, mortgagors (banks or finance companies), grocers and transport providers, you would need to treat yourself as a payee, too, intentionally. You can do this by opening a separate bank account and transferring a fixed sum into this account via internet banking or interbank GIRO every month.

In some countries such as Singapore, employees who are Singapore citizens or permanent residences are required to contribute 20% (subject to some variation depending on their age and income level) of their earned income towards a Central Provident Fund as a compulsory form of savings for their retirement, primarily. Notwithstanding this or other form of provident fund in your respective country, it is prudent and sound financial self-discipline to pay yourself another 10% to 20% every month, if possible.

The magic of growing your money stack is to keep repeating your payment to yourself each month as a priority on par with your other pressing payees. Keep feeding your own bank account and it will feed your purposes well, in future. Start NOW, if you have not already done so.

Notes:

* Money is not the root of all evil. It is the love of money which is the root of all evil.

* Money is great servant but a terrible master.

* You can give without loving, but you can't love without giving.

* "Don’t wear yourself out trying to get rich; restrain yourself! Riches disappear in the blink of an eye; wealth sprouts wings and flies off into the wild blue yonder." (Proverbs 23:4-5; MSG)