Richard Butler-Creagh's Guide on How to Save Money Wisely

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How to Save Money Wisely

Richard Butler-Creagh has many years’ experience in finance, he believes that it is important to invest your money wisely. Here is his tips on saving money wisely.

When we want to achieve something great, we can achieve it in simple ways, but not in easy ways. Saving our money doesn’t only involve keeping ourselves out from buying anything that can reduce our money. There are still a lot of factors and things we should learn to manage our cash wisely. 

The following are some tips in saving your money the right way:

Many people are scared to spend money and see it fly away from their hands. Well, not all cash spent are lost money. You can even save money by spending them. How can this be possible? Consider your debt or loan amortizations, if you will not let your money out in payment of your dues on time, you will only find yourself spending more in the future for penalties and charges. This is the same with taxes, if you will not pay on time; it will only cause you to pay more in the future for tax penalties. Consider also your insurance or your retirement expenses, they are additional spending, but they are expenses that can save your money in the future. This is why you should come up with a good financial plan.

Not all money kept is saved. Money set aside must have a rational purpose, such as fund set aside for emergency fund or business expansion. Saving money wisely is also using your money practically. Money can be invested in mutual funds, debt instruments, corporate stocks and other equity securities. If you want to save your money, you must nurture it and let it grow. Risks in investing should not be feared, instead, they should be calculated and managed.

If you want to save and spend your money wisely, you need to have wisdom. A wise person is one who can make the right decisions based on his realized knowledge, judgment and understanding. One should educate himself and continue to learn the lessons and principles of money and personal finance. You can read financial articles found on trusted books, magazines, blogs and other reliable sources. You may also ask financial advices from friends or persons who have succeeded in their way to financial freedom and money success. 

Saving money wisely involves great virtues, such as patience, diligence, self-control and even living in humility. To achieve financial success, we should not only focus on the figures and numbers, but also on the things behind those numbers. We should have a virtuous mindset towards achieving those financial goals. As Richard Butler-Creagh once said: “if we want to save money, we must secure not only the short-term, but also the long-term future of the money itself.”

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