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Even before finding another source of income to supplement your salary it is first very important to implement changes to your spending and saving habits. By doing this one will secure a stable financial base in the future. It is imperative to have a habit of saving as a way of acquiring financial discipline.

A habit of saving will ensure that you become financially independent in the future, but there are some radical steps one needs to adopt early to achieve this. The first thing to do is monitor your expenditure, this you do by writing down your daily expenses. Note the amount of cash you use on each item that you purchase for about two months. This way you will know where you are overspending and hence review your monthly expenditure.

From there determine how much you can afford to save on a monthly basis, making sure that you don’t overstretch yourself. Also as you save put aside some money for emergencies.

Continue reading ‘Saving Principles That Will Ensure Your Financial Success’ »

My mom read to me as a child and one of my favorite books was The Little Engine That Could. You may be wondering why or how an investment blog could compare investing to a children’s book. In Science and Engineering we are taught about Ockham’s Razor. It is used as a rule of thumb for developing theoretical models. The easiest way of explaining Ockham’s Razor is “the simplest explanation is more likely the correct one.” The Little Engine That Could not only has a good message for our children, it also has a message that can be directly applied to investing.

Continue reading ‘Expectations Plus Attitude Equals Success’ »