"In the long run, it's not just how much money you make that will determine your future prosperity. It's how much of that money you put to work by saving and investing it" -Peter Lynch
I like to ground myself by viewing my decisions as small ripples into my future. I like to believe that the choices I make each day have a strong correlation to where I am going to end up tomorrow. I view my choices as either positive or negative towards my future. There are obviously things I can't control, and I am human so I make steps forward and sometimes steps back from who I want to be, however I am able to build more momentum in the right direction through belief, dedication, and positive energy.
We all have it within us to create and live by our own life code that we apply to our own lives.
I hold these principles true when it comes to my mental/physical health, my relationships, and to the quality of my life. I also connect them to my relationship with money and to my own personal financial freedom.
What positive momentum can you create right now in your life that will enhance your tomorrow?
Apply those same principles to your money and future! Creating momentum through small actions in the right direction while letting time do the work. The hardest part is making the decision to step the starting line. Just start! Take one small step, and another, and another until you are slowly jogging. Keep moving forward until you find yourself running, sprinting, and moving so fast that nothing can stop your momentum. (Sorry for the running metaphor, but I just came back from a pretty solid run!)
Learn to use the power of habit, positive energy, and time and let the rest work itself out when it comes to any area of your life!
Apply this to your financial future by realizing that every dollar has a purpose in your life. Some dollars you will need now, and some will be used later in your life. When you earn a dollar tell it where it needs to go. It needs direction and the instruction of how you want it to work.
Earn it, tell it where to go (money you keep, money you owe) and repeat!
This is all saving for your future is. Taking money you earn today and saving it and growing for when you need it tomorrow. The more money you are able to save towards your future, the more freedom you will create for yourself!
Oh what power you have with a single dollar! You just need to realize it and use it.
Compounding Interest 5 Things that impact it
Money you put in
How often you put money in
The time it will be there
Interest Rate (how much you are making on your money)
Compounding Rate (how often your money is making interest)