If there’s one sure way to treat a king, it will be with absolute respect. So the real question is, how do we show our hard-earned cash the respect it deserves?
In this, “Every month is a big digital sale month” / “Let’s just Grabfood and Foodpanda nearly every meal because MCO” era we’re living. It’s tough. But if you’re going to want to respect your cash, you got to start somewhere.
Here’s 5 Ways You Can Respect Your Cash
Less Is More
Doesn’t mean you earn RM 2400 means you have to spend every single Ringgit. You can choose to spend less of your money. Doh! I know it’s not rocket science, but the logic holds true. The less you spend, the more you have saved. The more you save, the more options you have. This leads us to…
Plan A B C
Always Be Counting my friend. Counting your cash allows you to not only understand your current financial situation, it allows you to start a plan or set financial goals for the short, medium or long term. Choose between saving RM 2k plus for a Playstation 5 or save up to possibly afford a new car and more.
Your ABC’s give you options, and the more you have, the more choices you can choose from, speaking of which…
Roll The Ringgit
A rolling Ringgit gathers more Ringgit right? You wish! But it’s sensible to save your cash and use it to reinvest and grow its value. Most investment plans effectively only work roughly 3 to 5 years for medium-term investments and 10 to 20 years for most long term investments.
That might seem like a pretty long time but here’s the Super Obvious Secret everybody knows but forgets. Most investments work on compounding interest. Google it. In short, your money slowly multiplies from your returns, which continues to multiple even more. Speaking of more…
More Savings More Returns
Just like lifting weights, you don’t see the gains after only 1 day in the gym. For those muscles to buff up, you gotta repeatedly and consistently put in the work. Saving your money consistently and reinvesting it will DEFINITELY have a positive effect on your financial returns. Look at it this way, you consistently work out to look buff to be healthy and look attractive, but you can also consistently save and reinvest so that you can afford the first home with your loving partner when you find them.
Makes sense? That brings us to…
Common Sense Logic
We’re human. If you screw up, don’t beat yourself and deem your plan a failure. As a matter of fact, some of you might have to restart from scratch because life’s troubles are unpredictable. However, just as long as you understand how saving like this can help with achieving your goals, you’re well ahead of the millions of people around the world who really don’t know any better.
That’s our 5 tips from Versa that we think will help you know better.
With these tips and how Versa works as a cash management platform, we hope to help you understand how you can not only respect your own hard work and money but assist you in achieving your financial growths in the future.
Find out more about Versa and how it can help you manage your cash today.