The first important tip is to make sure to regularly spend a certain portion of your income not on spending, but on savings and investments. Which part? It is believed that you should spend at least 10% of your income on investments and savings. Thus, your expenses should not exceed 90% of your monthly income. A minimum of 10% of income is set aside on a monthly basis for future investment, and under no circumstances, except in exceptional cases, is not spent on maintenance.
Both the rich and the poor can save 10% a month. This has been tested many times by very different people. If you can manage to live on $ 100 a month, then you can live on $ 90. If you are used to spending $ 10,000 a month, then living on $ 9,000 will not be difficult for you. If your income allows you to save more than 10% of your income monthly - save more - 15%, 20%, 25%, etc. But not less than 10%. If your income has increased for any reason (for example, your salary has been raised), increase the percentage of deductions for investments for a while. After all, your expenses won't grow as fast as your income, will they? And the second important advice - you need to set aside 10% of income for future investments not at the end of the month (when there is almost nothing left of the income you received), but at the time of income. Popular books on personal finance call this principle “pay yourself first”. You first set aside the part of income that is intended for investment and is designed to provide you with a decent future, and only then can you spend only what is left.
More here - https://www.worldbank.org/
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