Isn’t it amazing how you’re able to put in a certain amount of money and within a monitored/fixed period, you get that amount back, only that it is multiplied, without you putting in more money? That is what investing is. When you invest, you put your money to work (money that makes more money), rather than save it somewhere without a guarantee of it growing, unless, of the cause, you regularly pay in more while it accumulates, which is what we know as savings.
‘Little money, soon expended, only if you work hard you get some more’….that’s a line from a popular Nigerian song that has listeners singing along and forgetting their worries and almost empty wallet halfway into a new month. Sadly, the latter part doesn’t really apply to everyone and we always seem not to have enough to go round and nothing put aside for the future.
Only a small fraction of the world’s population has a savings culture. Most have nothing to show for their work. Should an emergency pop up, most people will not have the resources to weather the storm. Living from paycheck to paycheck leaves little or no room to save anything tangible. The reality of saving from scratch then becomes a daunting task that most people eventually pull out off. The key is to get started, no matter how little. Here are five tips to get you started on moving your savings from zero to at least six times your monthly salary.