Over the past years I have read numerous books, attended various seminars and listened to countless cd’s on wealth creation. In all of this I found a wealth creating principle that most successful people would agree was fundamental in their creation of wealth. That would be the importance of savings. Most would even say that it is not enough to just save, but would go as far as to encourage a savings of 10% of all you earn. Some of these highly successful people include Robert Kiyosaki, author of the Rich Dad, Poor Dad books, T. Harv Ecker, author of Millionaire Mind, and founder of Peak Potential. Another teacher of this principle is Janine Bolon,founder of Smart Cents Inc. and author of Money, It’s Not Just for Rich People.
A few years back I was just learning my self about the power of saving money to make money and was attending a seminar given by Oscar Demille, founder of George Wythe College. He related a story about his life that inspired me to save money. He told about a time early in his marriage when he and his wife had accumulated debt and were feeling overwhelmed, sound familiar? So they convinced a successful retired financial planner to help them. They drove the few hours to see him and after looking over their finances he came up with a plan for them. Part of that plan was to save a certain amount each month. Oscar wasn’t convinced that this was the best way to get out of debt quickly. The financial planner explained that even though he couldn’t explain why he knew from experience that saving money each month was a key to getting out of debt, and if they did not agree to save each month he could not help them. Oscar agreed and left his office. On the way home Oscar told his wife that they would do everything the way this man had told them except for saving. Oscar wanted to use the money instead to pay off debts. It made more sense to him.
For two years they tried to get out of debt without putting money into savings. Instead of paying off more debt their debt actually increased. This humbled Oscar and he again called the financial planner and asked for a second chance. This time he followed counsel he was given and was soon out of debt, with a balance in his savings account.
Even though most financially successful people would agree on the importance of saving money in creating wealth, not one of them can explain why. The why is not as important as the knowledge that it works. Like in the days before Newton when the Law of Gravity had not been explained it was not any less important to be careful not to fall from a high place, it is not any less important to live the principle of savings. Maybe someday somebody will be able to scientifically explain why saving money is important in the creation of wealth, but until that day I choose to save and enjoy the consequences of living this principle- save money to make money.
Hi, Daneece here. I am known in some realms as mamademuchos. That is because my large family is my first passion. My second is making money. Visit http:/www.makemoneymamasway.com [http://www.makemoneymamasway.com] to find out more. To your success and happiness.
Author: Daneece Hernandez
Article Source: EzineArticles.com
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