Savings as an expense

An average person struggles with saving money but does not struggle too much to spend on expenses both for personal needs and wants.

So how about seeing savings as a “definitely required” expense? This way people may be able to save more. Saving money should not seem like a painful exercise.

image credits: Thanks to Alan

It is either the pain or the dream

In “The fallacy of financial literacy,” Jill Schlesinger, CFP and editor-at-large for CBS MoneyWatch, argues that pain is a more effective motivator than any financial literacy program.

via Spare change: The financial literacy edition.

Yes, it is either the pain or the dreams that motivate people to work towards financial literary and ultimately financial freedom.

Lesson on – Time Value of Money

Money today is generally worth more than money tomorrow

via avc.com

This is the most important finance/business/economic lesson I have learned of late and in it’s simplest terms. A must read for anybody from a novice to an expert wanting to learn a bit more about finance/business.

Thanks to Fred for making it this simple and in a blog post.