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
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.