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With investing, is it important to learn how to walk before you try to run. In other words, before you start thinking about stocks, bonds, or Forex trading, you have to begin with something simple. That something is a basic savings account.
The problem is you don’t think there is any money to put in that account. Actually, there’s plenty. That money is slipping through your fingers every day, as little at a time. In order to stop the leak and start saving, try keeping a journal of every penny you spend on non-essentials each day.
When you buy a candy bar out of the vending machine at work, write it down. The soda that you bought while at the gas station? It goes on the list too. Every little thing, no matter how inexpensive, gets added to the tally.
At the end of a week, add up what you’ve spent on incidentals. Does the total surprise you? Now think about how much you are spending with these kinds of purchases over the course of a month. What would that amount do in terms of making your savings account a little healthier?
Huge sacrifices are not necessary in order to save money. A little one here and there will get you on the road to a more secure financial future. Try this one strategy for a week and see what you learn. Chances are that making even a few changes will ultimately yield some great rewards.